Sellers took a pause on Wednesday, leading to a mixed but still oversold market both in the United States as well as internationally. Among our 7 ETFs You Need to Know are a number of Asian and Pacific Rim country funds, which represent some of the most oversold ETF markets in our database.
Heavy selling in value stocks has helped bring value ETFs down into oversold territory. Two such funds are included in this week’s 7 ETFs You Need to Know.
Here are 7 ETFs You Need to Know for Thursday.
With the exception of Japan, most of the Pacific Rim countries are deeply in oversold territory heading into trading on Thursday. While the ^EWJ^ is in neutral territory, ETFs like the ^EWT^ and the ^EWA^ (below) continue to trade in oversold territory above the 200-day moving average.
Shares of EWA have closed lower for five consecutive trading days.
Still in neutral territory despite the selling earlier in the week were country funds like the ^EZA^ and the ^EWW^.
Down three out of the past four sessions, EWW retraced 1% of its Tuesday losses in Wednesday trading.
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Exchange-traded funds consisting of value stocks have been among the more oversold above the 200-day moving day average. Typical of this selling has been the
pullbacks in the ^IVE^ and the ^VTV^ (below).
VTV has closed lower for the past five days. The ETF closed at their most oversold since climbing back above the 200-day moving average in mid-September.
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David Penn is Editor-in-Chief at TradingMarkets.com.