TradingMarkets 7 ETFs You Need to Know for Monday
Materials were up on the final trading day of the week, as exchange-traded funds like the ^XLB^ and the ^UYM^ rallied from a one-day dip into oversold territory above the 200-day moving average.
Moving deeper into oversold territory above the 200-day were shares of health care stocks, sending funds like the ^VHT^ lower for a third consecutive session.
Here are 7 ETFs You Need to Know for Monday.
Among those exchange-traded funds taking top ETF PowerRatings into trading on Monday are the ^IAT^ and the ^IYT^. Both funds earned ETF PowerRatings upgrades to 9 late in trading on Friday.
The ^TZA^ continued to move higher after dipping into oversold territory earlier in the week.
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Pulling back after closing in extreme overbought territory above the 200-day moving average on Friday was the ^UUP^. The UUP is a favored proxy for the U.S. dollar for both short and intermediate term traders.
The ^USD^ closed for a third consecutive trading day on Friday, with Friday’s close putting the technology-related ETF firmly in oversold territory above the 200-day moving average.
What’s all this about the 200-day moving average? Click here to find out what you need to know about one of the two most important moving averages for short term traders in stocks and exchange-traded funds.
Closing in oversold territory for a second straight session was the ^UWM^
Despite the retreat in the dollar, energy commodity funds remained in oversold territory. This includes top rated exchange-traded funds like the ^IEO^, which slid by more than 1% on Friday before recouping most of its loses. Friday marked the ETF’s second consecutive close in oversold territory above the 200-day moving average.