TradingMarkets 7 ETFs You Need to Know for Tuesday

Financials continue to be the leaders to the upside on Monday, as reflected by exchange-traded funds indexed to financial indexes. Energy and materials related ETFs continued to underperform, though many were off their intraday lows. Technology ETFs, particularly those with semiconductor exposure, were also among the exchange-traded funds moving higher on the first trading day of the week. Both Brazil and Latin America related funds were generally lower.

Here are 7 ETFs You Need to Know for Tuesday.

The small cap stocks of the Russell 2000 marked their second consecutive day of strong gains as seen in the rally in the iShares Russell 2000 Index fund, IWM (IWM | Quote | Chart | News | PowerRating) on Monday.

The Semiconductor HOLDRS, SMH (SMH | Quote | Chart | News | PowerRating), crossed above its 200-day moving average for the first time since early June, though the fund was off its intraday highs.

Failing to close above the highs of its 18-day consolidation range on Monday, the Select Financial Sector SPDRs, XLF (XLF | Quote | Chart | News | PowerRating), still managed a second
consecutive day of days following last Thursday's pullback.

The iShares Brazil Index Fund, EWZ (EWZ | Quote | Chart | News | PowerRating) broke down to levels not seen in the ETF since mid-March. The fund continues to move lower after reaching overbought extremes in late July. Also lower was the iShares S&P Latin America 40 Index ETF, ILF (ILF | Quote | Chart | News | PowerRating), which tested the March lows on an intraday basis.

Continuing to pullback, the ProShares UltraShort S&P 500 exchange-traded fund, SDS (SDS | Quote | Chart | News | PowerRating) managed to close well off its intraday lows on Monday.

The Gold Trust SPDRs, GLD (GLD | Quote | Chart | News | PowerRating), were among the major decliners in the world of widely-traded ETFs, down more than 3% and plunging to levels not seen since December 2007.

Would you like to double, triple or even quadruple your returns using ETFs? Click here to read our special Free Report on how leveraged and inverse ETFs can take your ETF trading to the next level!

David Penn is Senior Editor at TradingMarkets.com.