TradingMarkets 7 ETFs You Need to Know for Friday
Energies and materials were the big gainers again among exchange-traded funds on Thursday. Emerging markets ETFs, including funds linked to the Brazilian stock market, continued to rebound – many to the point of becoming overbought. Also bouncing higher were financially-related exchange-traded funds, including those based on homebuilder stocks.
Here are 7 ETFs You Need to Know for Friday.
The ProShares UltraShort Oil & Gas ETF, DUG
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PowerRating), lost more than 4%, closing lower for the third consecutive day and its second consecutive close below its 200-day moving average. The Oil Service HOLDRS, OIH
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PowerRating) were up more than 2%.
Up for a third day in a row, the iShares Brazil Index Fund, EWZ
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PowerRating) is increasingly overbought with a 2-period Relative Strength Index of more than 90.
The Select Homebuilders Sector SPDRs, XHB
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PowerRating), gained more than 2% on Thursday, retracing two days of losses.
Also up for a third consecutive session were the Select Energy Sector SPDRs, XLE
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PowerRating), which also have a 2-period RSI of more than 90. The ETF was up more than 2% on Thursday.
Although higher, the iShares Dow Jones Transportation Average Index ETF, IYT
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PowerRating) remains signficantly oversold.
Among the less widely traded ETFs, the ProShares UltraShort Semiconductor ETF, SSG
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PowerRating) was up for its fifth consecutive day on Thursday. SSG, which is trading below its 200-day moving average, has had a 2-period RSI of more than 90 for three days in a row as it tests its 200-day moving average.
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