TradingMarkets 7 ETFs You Need to Know for Thursday
The bid was back under financials on Wednesday as oversold conditions have drawn buyers back into the market. Technology ETFs were also among the beneficiaries of the short-term oversold conditions.
Here are 7 ETFs You Need to Know for Thursday.
Up well over 4% intraday but falling off its highs late in the session was the Direxion Daily Financial Bull 3x Shares ETF
(
FAS |
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Chart |
News |
PowerRating). The ETF had pulled back into oversold territory above the 200-day moving average earlier in the week.
The S&P 500 SPDR ETF
(
SPY |
Quote |
Chart |
News |
PowerRating) or S&P Depository Receipts gained more than 1% intraday on Wednesday, but remains in a trading range that extends back to the beginning of the month.
The biggest ETF pullbacks at midweek were clearly among the bond ETFs, with the iShares iBoxx Investment Grade Corporate Bond ETF
(
LQD |
Quote |
Chart |
News |
PowerRating) and the Vanguard Total Bond Market ETF
(
BND |
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News |
PowerRating) both pulling back toward oversold territory above the 200-day.
Gaining more than 2% intraday on Wednesday after closing lower for five consecutive trading days was the ProShares Ultra Semiconductor ETF
(
USD |
Quote |
Chart |
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PowerRating).
After a strong start, the Market Vectors Gold Miners ETF
(
GDX |
Quote |
Chart |
News |
PowerRating) pulled back from its intraday highs to close in oversold territory above the 200-day for the fourth trading day in a row. In contrast, the iShares Silver Trust ETF
(
SLV |
Quote |
Chart |
News |
PowerRating) which tracks the actual price of silver rallied strongly by more than 1% on the day.
Larry Connors will be conducting a 2 1/2 day online ETF Seminar this weekend beginning Friday evening. If you’d like to attend the event, you can find more information here.
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