TradingMarkets 7 ETFs You Need to Know for Friday

Consumer discretionary stocks were the market’s top performers on Thursday, although buyers were aggressive in industrial and emerging markets ETFs, as well.

Here are 7 ETFs You Need to Know for Friday.

Major retailers like Home Depot
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, Lowes
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and Target
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were among the chief beneficiaries of buying pressure on Thursday as renewed confidence in an economic turnaround encouraged bullishness in the consumer discretionary sector.

This sector is represented by a number of exchange-traded funds – from the Consumer Discretionary Select Sector SPDRS ETF
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to the iShares Dow Jones U.S. Consumer Services Index ETF
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, both of which include the above stocks among their holdings.

For a leveraged trade on the sector, short term traders can consider leveraged ETFs like the ProShares Ultra Consumer Services Index ETF
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, which was up more than 9% late in trading on Thursday.

New to exchange-traded funds? Click here to read ETF Basics: What You Need to Know About Exchange-Traded Funds.

Gapping up but closing lower on the day were the Direxion Financial Bull 3x Shares ETF
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. The ETF nevertheless ended the day up more than 9% and is again overbought.

Sliding sharply toward its 200-day moving average, the ProShares UltraShort Industrials ETF
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lost more than 11% on Thursday. SIJ is now extremely oversold above the 200-day.

Conversely, the ProShares Ultra Industrials ETF
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broke out to levels not seen in more than a month as it added more than 12% on Thursday. UXI is leveraged two-to-one to the daily performance of the Dow Jones U.S. Industrial Index, which includes stocks like General Electric
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.

Representative of the great buying pressure in emerging markets ETFs was the rally in the iShares Emerging Markets Index ETF
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on Thursday, which brought the fund up by more than 6% late in trading. By sector, EEM is most heavily weighted toward telecommunications, financial services and industrial companies.

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