ETF Trading: Retail, Metals, and Technology Earn Highest PowerRatings for Wednesday
Today’s edition of 7 ETFs You Need to Know takes a look at some of the highest-rated exchange-traded funds in our PowerRatings database. PowerRatings is a proprietary stock and ETF rating system that helps traders find the best stocks and ETFs to trade every day.
Here are 7 ETFs You Need to Know.
Again, one of the highest rated exchange-traded funds in our PowerRatings database is also one of the most widely-traded. The ^SPY^ has closed lower for five days in a row, earning our highest PowerRatings for the past two days.
Earning a one-point upgrade to our highest PowerRatings were shares of both the ^XME^ and the ^XLK^ (below).
XLK has closed lower for three days in a row, all of which have been in oversold territory above the 200-day moving average.
Also oversold above the 200-day and earning our highest PowerRatings ahead of Wednesday’s open is the ^IYZ^.
After closing lower for three out of the past four trading days, the ^IEO^ (below) earned a one-point PowerRatings upgrade to 10.
Although earning neutral PowerRatings of 6 ahead of trading on Wednesday, the fact that the ^ZSL^ earned a three-point upgrade after Tuesday’s session is worth noting should sellers to continue to send the fund lower over the balance of the week.
Any significant selling over the next few days will likely bring PowerRatings upgrades to the ^FAS^ (below).
FAS has earned PowerRatings of 8 for the past two days as the fund has pulled back for three days straight. The leveraged ETF is trading at its lowest levels of the year.
PowerRatings are a great way to start trading exchange-traded funds. To learn more about trading ETFs with PowerRatings, click here.
David Penn is Editor in Chief of TradingMarkets.com