TradingMarkets 7 ETFs You Need to Know for Friday

Massive profit-taking in financials and materials sent ETFs representing those sectors reeling on Thursday. Entering oversold territory above the 200-day moving average were funds as diverse as the ProShares Ultra Basic Materials ETF
(
UYM |
Quote |
Chart |
News |
PowerRating)
, off more than 5% and the Direxion Daily Financial Bull 3x Shares ETF
(
FAS |
Quote |
Chart |
News |
PowerRating)
, which pulled back by more than 6%.

Here are 7 ETFs You Need to Know for Friday.

The PowerShares QQQ Trust ETF
(
QQQQ |
Quote |
Chart |
News |
PowerRating)
continued to pull back on Thursday, losing more than 1% intraday and reaching oversold levels above the 200-day not seen since the beginning of September.

The sellers who took profits on the breakout in the Semiconductor HOLDRS ETF
(
SMH |
Quote |
Chart |
News |
PowerRating)
were joined by more sellers on Thursday, as the technology sector ETF lost more than 2% intraday. Two stocks, Texas Instruments
(
TXN |
Quote |
Chart |
News |
PowerRating)
and Intel Corporation
(
INTC |
Quote |
Chart |
News |
PowerRating)
, make up more than 40% of the SMH.

Profit-taking was also widespread in retail stocks, with the SPDR Retail ETF
(
XRT |
Quote |
Chart |
News |
PowerRating)
pulling back by more than 1% and slipping into oversold territory above the 200-day moving average. Closing lower for a third consecutive trading day was the Retail HOLDRS ETF
(
RTH |
Quote |
Chart |
News |
PowerRating)
.

Biggest pullback among the BRIC countries? The iShares FTSE/Xinhua China 25 ETF
(
FXI |
Quote |
Chart |
News |
PowerRating)
dropped by more than 3% intraday on Thursday. The close marked the ETF’s second consecutive close in oversold territory above the 200-day.

Dollar strength was notable not just in the decline in commodities, but in the correction in foreign currencies, as well. Both the DB Commodity Indexed Tracking Fund ETF
(
DBC |
Quote |
Chart |
News |
PowerRating)
and the CurrencyShares British Pound Sterling Trust
(
FXB |
Quote |
Chart |
News |
PowerRating)
lost well over 1% on Thursday.

With Larry Connors’ High Probability ETF Trading Software, retail traders have access to the same kind of “buy the selling, sell the buying” trading strategies that professional traders have used successfully for decades.

Click here to start your free trial to Larry Connors’ High Probability ETF Trading Software today!