TradingMarkets 7 ETFs You Need to Know for Thursday
Selling was most pronounced in the energy and materials sectors on Wednesday, while a growing number of country funds are pulling back toward their 200-day moving averages.
Here are 7 ETFs You Need to Know for Thursday.
Aggressive selling in energy shares helped send the ProShares Ultra Oil & Gas ETF
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DIG |
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PowerRating) lower by more than 8% on Wednesday. DIG had spent the past four days in overbought territory below the 200-day moving average.
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Also lower on the day, but pulling back toward its 200-day moving average rather than below it, is the Energy Select Sector SPDR ETF
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XLE |
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PowerRating), which is now in oversold territory.
Precious metals ETFs were pulling back on Wednesday, as well, with both the SPDR Gold Shares ETF
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GLD |
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PowerRating) and the iShares Silver Trust ETF
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SLV |
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PowerRating) down on the day. Both ETFs are now in oversold territory above their 200-day moving averages.
Among those country ETFs becoming oversold above their 200-day moving averages on Wednesday were the iShares FTSE/Xinhua China 25 ETF
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FXI |
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PowerRating) and the iShares MSCI Brazil Index ETF
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EWZ |
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PowerRating).
A rebound in the dollar send currency ETFs reeling on Wednesday. The CurrencyShares Australian Dollar Trust
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FXA |
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PowerRating) lost more than 3% on the day, erasing gains from the past three days.
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