TradingMarkets 7 ETFs You Need to Know for Friday
Financial ETFs, which were among those most aggressively sold in recent days, rallied on Thursday while ETFs linked to international markets rebounded strongly from recently oversold conditions above the 200-day moving average.
Here are 7 ETFs You Need to Know for Friday.
After closing for two days below its 200-day moving average, the S&P 500 rallied back above that level on Thursday, meaning higher prices for the S&P 500 SPDRs ETF
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PowerRating). Meanwhile, two days in extreme overbought territory below the 200-day moving average led to a pullback the ProShares UltraShort S&P 500 ETF
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Short term oversold conditions have also induced buyers back into technology shares, as witnessed by the more than 2% intraday gain in the Semiconductor HOLDRS ETF
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Also selling off after reaching overbought extremes below the 200-day was the Direxion Financial Bear 3x Shares ETF
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Both the Euro and the British Pound gained against the greenback on Thursday, with both the CurrencyShares Euro Trust
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Three days in extreme oversold territory was enough to bring buyers back to junk bonds. The SPDR Lehman High Yield Bond ETF
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PowerRating) gained more than 1% intra-day before pulling back.
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