TradingMarkets 7 ETFs You Need to Know for Friday
Strength was widespread across a number of sectors on Thursday, though consumer cyclicals provided many of the most impressive gains. Oversold energy ETFs rebounded after several days of intense selling pressure.
Here are 7 ETFs You Need to Know for Friday.
An extremely oversold Dow Jones Industrial Average surged higher on Thursday. The Dow DIAMONDS ETF
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DIA |
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Meanwhile, after three days in overbought territory below the 200-day moving average, the ProShares UltraShort Dow 30 ETF
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DXD |
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PowerRating) broke down on Thursday, losing more than 4% intraday.
Buyers were most aggressive in the consumer discretionary space, sending the Consumer Discretionary Select SPDRS ETF
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XLY |
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PowerRating) higher by more than 3% on Thursday. XLY had spent two out of the past three days in oversold territory above the 200-day moving average.
Rising energy prices and oversold extremes produced bounces in energy ETFs early in the Thursday session. Up more than 2% intraday were the Vanguard Energy ETF
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VDE |
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PowerRating) and the iShares Dow Jones U.S. Energy Index ETF
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IYE |
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PowerRating). Gaining more than 4% intraday and back in overbought territory below the 200-day moving average was the ProShares Ultra Oil & Gas Index ETF
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DIG |
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PowerRating).
Strength in bonds saw ETFs like the iShares Barclays 20+ Year Treasury Bond ETF
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TLT |
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PowerRating) rebound in Thursday’s trading. The ETF is again in overbought territory below the 200-day moving average.
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