TradingMarkets 7 ETFs You Need to Know for Friday
With financials at the lead, equity index ETFs advanced on Thursday, sending bond ETFs into oversold territory above the 200-day moving average. Select ETFs in the metals and mining sectors were also among those pulling back above the 200-day late in the week.
Here are 7 ETFs You Need to Know for Friday.
Up big on a big up day for financial ETFs was the Direxion Daily Financial Bull 3x Shares ETF
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PowerRating) which gained well over 7% on Thursday. Despite the move higher, FAS has not yet re-entered overbought territory above the 200-day.
Among the very few country ETFs that are oversold above the 200-day are the iShares MSCI Taiwan Index ETF
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PowerRating). Both funds have closed lower for three sessions in a row and have earned ETF PowerRatings of 8.
Minor pullbacks on Thursday nevertheless pushed metals and mining related ETFs deeper into oversold territory above the 200-day moving average. Characteristic of these pullbacks were the moves lower in the Market Vectors Gold Miners ETF
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PowerRating) and the SPDR S&P Metals & Mining ETF
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PowerRating).
Up well over 2% after a two-day pullback was the ProShares Ultra Consumer Services ETF
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PowerRating). Consumer cyclical stocks were second only to the financials in moving markets higher on Thursday.
Strength in equities translated into a predictable pullback in bonds, with bond ETFs like the iShares Barclays Aggregate Bond Fund ETF
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PowerRating) sliding from neutral to oversold territory above the 200-day on Thursday.