TradingMarkets 7 ETFs You Need to Know for Friday

Health care remains the home of the most oversold ETFs trading above their 200-day moving averages. Around the globe, country ETFs continue to follow the lead of the iShares MSCI Taiwan Index ETF
(
EWT |
Quote |
Chart |
News |
PowerRating)
, that we have been following in 7 ETFs You Need to Know since the beginning of the week.

Here are 7 ETFs You Need to Know for Friday.

Down for a second day in a row and entering oversold territory above the 200-day moving average was the PowerShares QQQ Trust ETF
(
QQQQ |
Quote |
Chart |
News |
PowerRating)
.

Joining the Asian country ETFs in pulling back into oversold territory were a number of European country ETFs. These include the iShares MSCI France Index ETF
(
EWQ |
Quote |
Chart |
News |
PowerRating)
and the iShares MSCI Germany Index ETF
(
EWG |
Quote |
Chart |
News |
PowerRating)
, both down nearly 1% intraday.

Some of the deepest pullbacks in ETFs by sector continue to be in the health care and consumer staples areas. Exchange-traded funds representing these stocks include the Vanguard Health Care ETF
(
VHT |
Quote |
Chart |
News |
PowerRating)
and the Consumer Staples Select Sector SPDR ETF
(
XLP |
Quote |
Chart |
News |
PowerRating)
.

The PowerShares Preferred Portfolio ETF
(
PGX |
Quote |
Chart |
News |
PowerRating)
is one of the most overbought ETFs in the market. PGX is designed to track the performance of the Merrill Lynch Fixed Rate Securities index.

Technology ETFs were also pulling back late in the week. Down for a second day above the 200-day moving average was the Semiconductor HOLDRS ETF
(
SMH |
Quote |
Chart |
News |
PowerRating)
.

Larry Connors will be conducting a 2 1/2 day High Probability ETF Trading Seminar beginning August 14. If you’d like to attend a free online presentation explaining the concepts of High Probability ETF Trading and introducing the 2 1/2 day Seminar coming in early August, please call 1-888-484-8220 ext. 1 or click here to register today.

Want updates on our latest articles? Have something to say to David Penn or

the staff at TradingMarkets? Follow David on Twitter at @Penn_TM and TradingMarkets at @Trading_Markets. You can also join the

discussion on Facebook by logging onto our fanpage

.