TradingMarkets 7 ETFs You Need to Know for Monday
Oversold conditions from yesterday in Nasdaq-related ETFs resulted in strong gains on Friday, as a number of exchange-traded funds including leveraged funds with Nasdaq exposure advanced.
Short and leveraged short financial exchange-traded funds pulled back, though few have reached the same kind of oversold conditions that prevailed before the Nasdaq-related ETFs made their moves higher.
Here are 7 ETFs You Need to Know for Monday.
The ProShares Ultra QQQ exchange-traded fund, QLD
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PowerRating), responding to yesterday’s extremely oversold conditions, rallied by more than 3% on Friday to move within a few points of its 200-day moving average.
The ProShares UltraShort S&P 500 Index ETF, SDS
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PowerRating), continued to pull back on Friday, closing below its 5-day moving average for the first time in five days.
One day after the 2-period RSI in the United States Oil Fund, USO
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PowerRating) climbed above 90, the ETF is on the retreat by more than 5%, retracing two days’ worth of gains.
After five days of declines, the iShares S&P Small Cap 600 ETF, IJR
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PowerRating) was up more than 2% intraday. The exchange-traded fund has a 2-period RSI of less than 10 as of Thursday’s close.
The ProShares UltraShort Financials ETF, SKF
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PowerRating), pulled back by more than 4%, closing below its 5-day moving average though still trading more than 10
points above its 200-day moving average. Trading below its 200-day moving average, the ProShares UltraFinancials exchange-traded fund, UYG
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PowerRating), were up by more than 4%, but have not yet reached overbought extremes.
Down by more than 3%, the ProShares UltraShort Russell 2000 ETF, TWM
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PowerRating), pulled back on Friday after reaching overbought extremes in the 2-period RSI on Thursday.
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