Consumer Stocks, Retail Earn Biggest Upgrades Ahead of Monday’s Trading: 7 ETFs You Need to Know for Monday
Traders will see significantly oversold conditions when trading begins on Monday, with a large number of exchange-traded funds earning top PowerRatings of 9 or higher. Among the sectors where selling has been strongest and PowerRatings upgrades most abundant has been the consumer sector, including retail.
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Here are 7 ETFs You Need to Know for Monday
The ^RTH^ is among the highest rated exchange-traded funds (ETFs) in our database. RTH earned a one-point upgrade to our highest PowerRatings ahead of trading on Monday after closing lower by more than 1% on Friday.
Also earning one-point upgrades and further reflecting weakness in the consumer sector are the ^XLY^.
Earning some of the biggest PowerRatings upgrades heading into Monday’s session were funds like the ^IVW^ and the ^XLU^ (below).
Both IVW and XLU earned four-point upgrades after closing lower on Friday for three consecutive trading days.
The most widely-traded exchange-traded fund is also one of the highest rated ahead of Monday’s trading.
The ^SPY^ (above) earned a one-point upgrade to 9, and has closed in oversold territory for three days in a row. Traders looking for a way to leverage the oversold condition of the S&P 500 may also want to consider the ^SSO^. The SSO tracks 200% of the daily return of the S&P 500.
Health care remains a top-rated sector heading into trading on Monday.
The ^FXH^ earned PowerRatings of 9 and has closed lower for the past three days in a row – all three of which have been in oversold territory above the 200-day moving average.
ETF PowerRatings are a great way to get started trading exchange-traded funds. To learn more about trading ETFs with PowerRatings, click here.
David Penn is Editor in Chief of TradingMarkets.com