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How to Successfully Trade ETFs Using Quantified Strategies – presented by Larry Connors
Here are 7 ETFs You Need to Know for Tuesday
The ^QQQ^ has closed lower for three out of the past four trading days. And despite having finished in oversold territory for the last two sessions, the ETF has neutral PowerRatings of 6 heading into trading on Tuesday.
Also with neutral PowerRatings ahead of trading on Tuesday is the ^EEM^.
Closing in oversold territory on Monday, EEM has closed lower for the past two days in a row.
Are traders counting out the consumer? The ^XRT^ will open with our highest PowerRatings on Tuesday after closing lower for four days in a row above the 200-day moving average.
Also earning top PowerRatings after a four-day pullback above the 200-day is the ^IWM^ (below).
The selling on Monday helped IWM earn a two-point PowerRatings upgrade ahead of Tuesday’s session. IWM is among the top 10 highest volume exchange-traded funds.
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Which country funds are pulling back into oversold territory and earning top PowerRatings ahead of trading on Tuesday?
Follow the commodities: Both the ^EWA^ and the ^EWC^ are set to open on Tuesday with top PowerRatings after multiple closes in oversold territory.
Increasingly oversold above the 200-day moving average is the ^EWY^ (below).
EWY earned a one-point upgrade after Monday’s trading. The ETF has closed lower for two out of the past three trading days.
David Penn is Editor in Chief of TradingMarkets.com