While many of the world markets are in neutral territory, exceptionally oversold conditions continue to dominate markets in the United States. With over 60 exchange-traded funds earning our highest PowerRatings heading into trading on Thursday, the likelihood of a bounce in the near-term has increased significantly over the past few days.
Today’s edition of 7 ETFs You Need to Know focuses on the highest volume exchange-traded funds, leveraged and non-leveraged earning top PowerRatings for Thursday.
Here are 7 ETFs You Need to Know for Thursday.
Four of the top 10 highest volume exchange-traded funds have earned our highest PowerRatings heading into trading on Thursday. This includes the ^IWM^ and the ^XRT^ (below).
Shares of XRT have closed lower for six days in a row, earning our highest PowerRatings for the past three consecutive sessions.
Also earning our highest PowerRatings as of Wednesday’s close was the ^XLI^. XLI earned a one-point upgrade ahead of Thursday’s session.
Emerging markets ETFs remain in neutral territory, and are in general much less oversold than U.S. markets. These include both the ^EFA^ and the ^EEM^ (below).
EEM has had PowerRatings of 5 or 6 for the past five trading days, and closed in oversold territory for two of the past three sessions.
Earning top PowerRatings among the 5 highest volume leveraged ETFs are the ^SSO^ and the 3-to-1 leveraged ^TNA^ (below).
Shares of TNA have pulled back for five out of the past six trading days, earning a one-point upgrade ahead of trading on Thursday.
Trading ETFs with PowerRatings is easy! To learn more about what PowerRatings can do for you and your ETF trading, click here today.
David Penn is Editor in Chief of TradingMarkets.com.