Technology, Financials Among Most Oversold Markets at Midweek: 7 ETFs You Need to Know for Wednesday

Strength in commodities like precious metals and crude oil helped take some of the steam out of the selling on Tuesday. Energy exchange-traded funds like the ^DIG^ rallied by more than 2%, despite finishing the day off their highs.

Here are 7 ETFs You Need to Know for Wednesday.

The ^SLV^ rallied to new short term highs ahead of trading on Wednesday, gaining more than 4%.

SLV chart

SLV is very overbought in the short term.

Pulling back deeper into oversold territory are leveraged exchange-traded funds (ETFs) like the ^TYH^ and the  ^UYG^ (below).

UYG chart

Shares of UYG have closed lower for three days in a row, closing at their most oversold level in more than a month.

Reflecting weakness in the small cap market, the ^TZA^ closed higher for a third day in a row. TZA was up more than 1% on Tuesday.

Trade stocks?  Subscribe to our free, daily newsletter: 7 Stocks You Need to Know – now with a special subscribers’ only section featuring the top PowerRatings stocks for the next trading day!  Click here.

Country funds in general bounced ahead of trading on Wednesday. But it was the funds of commodity countries like South Africa’s ^EZA^ and Canada’s ^EWC^ that were up more than 1% on Tuesday.

By comparison, funds from nations like Germany and Taiwan had rallies that were significantly more modest.

Shares of the ^XLY^ (below) pulled back for a third day in a row on Tuesday.

XLY chart

XLY, which includes stocks like ^DIS^ and ^MCD^, has closed in oversold territory for the past two days in a row.

Learn how to trade ETFs! The Machine ETF Trader includes more than 30,000 different quantified strategies for trading exchange-traded funds (ETFs). Click here to details.

David Penn is Editor in Chief of