TradingMarkets 7 ETFs You Need to Know for Friday
Oversold conditions urged buyers off the sidelines on Thursday as country and equity index ETFs rallied higher. The India Fund ETF
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PowerRating) gained more than 5% to lead country ETFs, while small-cap ETFs like the iShares Russell 2000 Index Fund ETF
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PowerRating) rallied by more than 3%. Top ETF PowerRatings Funds for Friday include: IAT, XRT, PFF.
Here are 7 ETFs You Need to Know for Friday.
Up well over 6%, the Direxion Daily Financial Bull 3x Shares ETF
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PowerRating) was indicative of the shift in sentiment back in favor of financials, which had been among the more oversold sectors in recent days.
Strength in technology – especially semiconductors – helped boost the Nasdaq 100 on Thursday. Climbing into overbought territory after its steep pullback was the PowerShares QQQ Trust ETF
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PowerRating), which gained more than 2% on the day.
Good news from Cisco after hours on Wednesday sent technology ETFs soaring. The Technology Select Sector SPDRS ETF
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PowerRating) gained more than 2% on Thursday while the iShares S&P GSTI Semiconductor Index ETF
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PowerRating) was up over 3%.
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Among the few oversold ETFs trading above their 200-day moving averages as of the close was the SPDR Barclays High Yield Bond ETF
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PowerRating). JNK spent its fourth consecutive day in oversold territory on Thursday.
The pullback in the PowerShares DB Agricultural Index Fund ETF
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PowerRating) brings the fund down into oversold territory at a time when many commodity-related ETFs are increasingly overbought.
The spike in the PowerShares DB U.S. Dollar Index Bullish Fund ETF
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PowerRating) on Thursday was the result of too many bullish bets on the American currency. The Fund actually ran out of shares, forcing a trading halt in the currency ETF.