TradingMarkets 7 ETFs You Need to Know for Friday
Exchange-traded funds (ETFs) linked to the energy sector were among the outperformers on Thursday, with the ProShares Ultra Oil & Gas ETF
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PowerRating) gaining well over 4% on the day. Overbought conditions above the 200-day continue to prevail for the vast majority of regular ETFs
Here are 7 ETFs You Need to Know for Friday
The SDPR S&P 500 ETF
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PowerRating) closed higher on Thursday for the fifth consecutive trading day, its third in a row in overbought territory above the 200-day.
Meanwhile, off more than 3% intraday and closing at its lowest levels in more than a year was the ProShares UltraShort S&P 500 ETF
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PowerRating). The ETF, which is leveraged two-to-one to the
Positive retail sales helped boost ETFs based on the sector such as the Retail HOLDRS ETF
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PowerRating) and the SPDR S&P Retail ETF
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PowerRating).
Surprisingly strong third quarter profits from Alcoa
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PowerRating) were accompanied by a jump of more than 5% in the PowerShares DB Base Metals Fund
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PowerRating). DBB is designed to reflect the prices of industrial metals including copper, aluminum and zinc.
With most regular, non-inverse ETFs wildly overbought above the 200-day moving average as of Thursday’s close, bond ETFs like the Vanguard Total Bond Market ETF
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PowerRating) were among the few funds trading in oversold territory above the 200-day.
A surprise rate increase by the Reserve Bank of Australia helped send the CurrencyShares Australian Dollar Trust ETF
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PowerRating) higher by nearly 2% on Thursday.