TradingMarkets 7 ETFs You Need to Know for Friday
A sharp spike in the number of 10-rated ETFs on Thursday included a variety of country and equity index ETFs that are oversold above the 200-day moving average. From a sector perspective, pullbacks were deepest among financial and materals-related funds.
Here are 7 ETFs You Need to Know for Friday.
Among the equity index ETFs pulling back on Thursday, the SPDRS S&P 500 Trust ETF
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PowerRating) lost more than 2% intraday, closing lower for a third consecutive trading day. Meanwhile, bounding into overbought territory below the 200-day was the ProShares Ultra S&P 500 ETF
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PowerRating), which gained more 4% during trading on the day.
With Citigroup
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PowerRating) down more than 6% intraday and Wells Fargo
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PowerRating) off by more than 5%, it was little surprise that the Financial Select Sector SPDRS ETF
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PowerRating).
Off more than 4% and down for a third day in a row was the SPDRS S&P Metals & Mining ETF
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PowerRating). The ETF on Thursday traded at its most oversold levels in more than a month.
Although down by more than 2% on Thursday, the iShares MSCI Brazil Index Fund ETF
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PowerRating) is still trading above recent lows and has not yet pulled back into oversold territory above the 200-day.
Looking for some of the most dramatic ETF PowerRatings upgrades on the day? The Materials Select Sector SPDRS ETF
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PowerRating) earned an ETF PowerRating from 6 to 10 over the course of trading on Thursday. Upgraded from 7 to 10 was the Vanguard Growth ETF
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PowerRating). XLB pulled back by more than 3% on Thursday, while VUG slid well over 2%.