High Probability ETF Trading: 7 ETFs You Need to Know for Friday (JNK, HYG, EZU, XLK, IEV, VGK, SPY)

Country funds from Europe to Asia pulled back deeper into oversold territory above the 200-day moving average. Lower, but not quite yet at oversold levels are ETFs like the ^EWH^ and the ^VEU^.

Energy continues to be the strongest sector, with the ^XLE^ closing higher for eight out of the past nine days. Financials, by contrast, have lagged, with the ^UYG^ pulling back by well over 1% on Thursday.

Here are 7 ETFs You Need to Know for Friday.

Profit-taking in high yield corporate bond ETFs have been significant over the past week. Down five days in a row ahead of Friday’s open were the ^JNK^ and the ^HYG^.

Among the most oversold country funds in our database going into the final trading day of the week is the ^EZU^ (below).

EZU Chart

EZU has closed lower for five consecutive trading days as of Thursday’s close.

Pulling back into oversold territory above the 200-day moving avearge ahead of Friday’s open is the ^XLK^ (below).

XLK Chart

Shares of XLK have closed lower for two days in a row, with the most recent close in oversold territory.

If you like trading ETFs, then you’ll love The Machine Lite. Click here now to save your spot at the upcoming free webinar this Wednesday led by TradingMarkets founder and CEO Larry Connors on How to Harness the Power of The Machine Using The Machine Lite.

European continues to be a source of trading anxiety, as revealed in the continued selling in exchange-traded funds (ETFs) like the ^VGK^ and the ^IEV^, both down for five straight trading days.

Pulling back to just outside of oversold territory above the 200-day moving average on Thursday was the ^SPY^.

SPY Chart

Closing lower for three out of the past four trading days, the SPY is likely to find itself in oversold territory on any significant follow-through selling.

Find out why more and more traders are turning to exchange-traded funds (ETFs) in the latest interview with TradingMarkets CEO and founder, Larry Connors.

Trading ETFs by Mastering Probabilities.

Available now for free at Investor’s Business Daily. Click the link above to access the interview.

David Penn is Editor-in-Chief at TradingMarkets.com.