TradingMarkets 7 ETFs You Need to Know for Friday
Selling was most aggressive in the financial and technology sectors on Thursday, helping create oversold conditions out of what were only recently overbought extremes. The number of ETFs making pullbacks above their 200-day moving average – many of them representing Asian stock markets – grew, as well.
Here are 7 ETFs You Need to Know for Friday.
Gains in Abbott Laboratories
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PowerRating) and Merck
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PowerRating), which includes both ABT and MRK among its holdings.
Rydex provides a way for short term traders to get leveraged exposure to health care stocks by way of the Rydex 2x S&P Select Sector Health Care ETF
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PowerRating). Another leveraged options for ETF traders is the ProShares Ultra Health Care ETF
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PowerRating) which is also leveraged two-to-one.
Sellers were especially aggressive in the technology sector, sending the Technology Select Sector SPDRS ETF
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Meanwhile in the financial sector, Bank of America
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PowerRating) pulled back by more than 9% intraday.
Pulling back after climbing above its 200-day moving average on an intraday basis was the Market Vectors Russia ETF
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PowerRating). The ETF has not closed above its 200-day moving average since July 2008.
The surprise purchase of 60 billion euros in bonds by the European Central Bank has traders eyeing the Euro. ETF traders can get exposure to the European currency by way of the CurrencyShares Euro Trust
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FXE |
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PowerRating), which continues to trade above its 50-, 20- and 10-day moving averages.
Did you know that FAS (Direxion Financial Bull 3X Shares) recently surpassed the volume of trading as compared to the SPYs (SPDR S&P 500)? Click here to learn quantified trading strategies in High Probability ETF Trading and gain a trading edge.