Consumer Stocks, Retail Earn Biggest Upgrades Ahead of Monday’s Trading: 7 ETFs You Need to Know for Monday
Traders will see significantly oversold conditions when trading begins on Monday, with a large number of exchange-traded funds earning top PowerRatings of 9 or higher. Among the sectors where selling has been strongest and PowerRatings upgrades most abundant has been the consumer sector, including retail.
Attention ETF traders! Larry’s special presentation on The Machine ETF Trader is Tuesday. Now including a 4-week intensive ETF trading training course taught by Larry Connors himself, The Machine ETF Trader may be just what you need in order to take your ETF trading to the next level.
For more information on Larry’s upcoming FREE webinar on The Machine ETF Trader, click the link below:
Here are 7 ETFs You Need to Know for Monday
The ^RTH^ is among the highest rated exchange-traded funds (ETFs) in our database. RTH earned a one-point upgrade to our highest PowerRatings ahead of trading on Monday after closing lower by more than 1% on Friday.
Also earning one-point upgrades and further reflecting weakness in the consumer sector are the ^XLY^.
Earning some of the biggest PowerRatings upgrades heading into Monday’s session were funds like the ^IVW^ and the ^XLU^ (below).
Both IVW and XLU earned four-point upgrades after closing lower on Friday for three consecutive trading days.
The most widely-traded exchange-traded fund is also one of the highest rated ahead of Monday’s trading.
The ^SPY^ (above) earned a one-point upgrade to 9, and has closed in oversold territory for three days in a row. Traders looking for a way to leverage the oversold condition of the S&P 500 may also want to consider the ^SSO^. The SSO tracks 200% of the daily return of the S&P 500.
Health care remains a top-rated sector heading into trading on Monday.
The ^FXH^ earned PowerRatings of 9 and has closed lower for the past three days in a row – all three of which have been in oversold territory above the 200-day moving average.
ETF PowerRatings are a great way to get started trading exchange-traded funds. To learn more about trading ETFs with PowerRatings, click here.
David Penn is Editor in Chief of TradingMarkets.com