After plunging to oversold extremes, the snapback in silver traders had been waiting for arrived on Monday. Precious metals ETFs in general were higher, but silver was the star on the first trading day of the week.
Also, buyers are back at work in the energy sector, sending many of those ETFs higher for a second session. Financial ETFs, on the other hand, remain at oversold lows.
Here are 7 ETFs You Need to Know for Tuesday.
The ^SLV^ (below) rallied by more than 7% ahead of trading on Tuesday.
Not yet overbought, SLV closed back above its 5-day moving average for the first time this month.
Exchange-traded funds (ETFs) like the ^XRT^ and the ^RTH^ are back in overbought territory only days after rallying for multiple consecutive down days.
If you like trading ETFs, then you’ll love The Machine ETF Trader. To learn more about the latest trading resource from the makers of The Machine, click here.
Closing lower for three out of the past four days on Monday was the ^IYF^ (below).
IYF has also closed in oversold territory for three out of the last four sessions.
European country funds like the ^EWP^ and the ^EWG^ (below) have closed lower for four days in a row heading into trading on Tuesday.
Shares of EWG were up a fraction on Monday, but remain oversold above the 200-day moving average.
Outside of Europe, the ^EWY^ is among the oversold, having closed lower for four out of the past five trading days.
David Penn is Editor in Chief of TradingMarkets.com