TradingMarkets 7 ETFs You Need to Know for Friday
Equity index exchange-traded funds were on the retreat in Thursday’s trading, but the pullbacks of nearly 2% in a variety of country funds – including the extremely oversold iShares MSCI Australia Index Fund ETF
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PowerRating) will likely draw the attention of high probability traders over the next few days.
Financial and materials represented the most aggressive selling by sector on Thursday, with ETFs like the ProShares Ultra Financials ETF
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PowerRating) and the Materials Select Sector SPDRS ETF
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PowerRating) both pulling back into oversold territory above the 200-day moving average.
Here are 7 ETFs You Need to Know for Friday.
Major equity index ETF, the Dow DIAMONDS ETF
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PowerRating) also was among those exchange-traded funds to earn major ETF PowerRatings upgrades on Thursday. Closing well in oversold territory on the day, the DIA earned an ETF PowerRating upgrade from 6 to 9.
Closing in oversold territory above the 200-day moving average for a third day in a row was the Claymore/AlphaShares China Small Cap ETF
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PowerRating). HAO is among our highest rated exchange-traded funds going into Friday based on the ETF’s top ETF PowerRating.
Click here to learn more about trading exchange-traded funds using ETF PowerRatings.
Among the bigger ETF PowerRatings upgrades on Thursday were the four-point upgrades earned by regional ETFs based on the so-called BRIC nations of Brazil, Russia, India and China. Off more than 3% was the Claymore/BNY BRIC ETF
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PowerRating), which earned an upgrade from 5 to 9 over the course of the trading day. Also pulling back by well over 3% was the iShares MSCI BRIC Index Fund ETF
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PowerRating).
Pharmaceutical and biotech funds were also earning major ETF PowerRatings upgrades late in the week. The iShares Nasdaq Biotechnology Index Fund ETF
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PowerRating) earned an intraday upgrade to 9 from 6 after pulling back by nearly 1% on Thursday.
Soaring by more than 1%, the PowerShares DB U.S. Dollar Bullish ETF
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PowerRating) continued its advance on Thursday, closing above its short-term 5-day moving average for a fifth consecutive session. Conversely, the SPDR Gold Shares ETF
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PowerRating) plunged by more than 3%.