TradingMarkets 7 ETFs You Need to Know for Friday

Materials and energies continued to lead the market higher on Thursday. This meant a third day in overbought territory for exchange-traded funds like the ^IYM^ and the ^DIG^.

Blue chips tended to outperform smaller cap stocks, with the ^DIA^ besting a number of small-cap ETFs.

Here are 7 ETFs You Need to Know for Friday.

Little changes in most ETF markets mean that there remains a relative small amount of ETFs with ETF PowerRatings of more than 6. At the other end of the spectrum, exchange-traded funds like the ^FXI^ and the ^PBW^ continue to be among our lowest rated ETFs and are best avoided by short term traders.

Closing in overbought territory below the 200-day moving average for a third day was the ^EWG^.

Continued overbought conditions in the non-leveraged, regular ETF market have meant new oversold extremes below the 200-day moving averages for a variety of inverse leveraged ETFs from the ^FAZ^ to the ^QID^.

The ^USO^ closed above its 200-day moving average for a third day in a row on Thursday. The fund has dropped below this critical level in late January and again in early February.

Joining government debt related ETFs in oversold territory above the 200-day moving average was the ^LQD^.

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