TradingMarkets 7 ETFs You Need to Know for Friday
Equity index exchange-traded funds pulled back in earnest on Thursday, creating oversold conditions in a number of ETFs from the Dow DIAMONDS ETF
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PowerRating) to the iShares Russell 2000 Index Fund ETF
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PowerRating). Around the globe, the 2% retreat in the iShares MSCI France Index Fund ETF
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PowerRating) was characteristic of the pullbacks among European country ETFs.
Top ETF PowerRatings funds for Friday include: INP, FXI, IBB.
Here are 7 ETFs You Need to Know for Friday
Dropping more than 1%, the S&P 500 SPDRS ETF
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Among country exchange-traded funds (ETFs), the biggest pullbacks were to be found in funds like the WisdomTree India Earnings Fund ETF
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PowerRating), which slid lower by more than 3% on Thursday. EPI, which has an ETF PowerRating of 6 closed in oversold territory for the first time since the beginning of the month.
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Sectorwise, energies outpaced financials lower, with the Vanguard Energy ETF
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PowerRating) and the Vanguard Financials ETF
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PowerRating) both down more than 2% intraday and into oversold territory above their 200-day moving averages.
Renewed weakness in small cap stocks helped send the ProShares UltraShort Russell 2000 ETF
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PowerRating) higher by more than 5% on Thursday. The ETF is now overbought below the 200-day, but remains below the previous week’s high.
After pulling back for four consecutive days, the iPath S&P 500 VIX Short Term Futures ETN
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PowerRating) gained on Thursday. In addition to short term trading, the VXX is used by some traders to hedge portfolios against volatility.
Despite widespread weakness in commodities, exchange-traded funds representing precious metals remains near breakeven levels. The iShares Silver Trust ETF
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PowerRating), for example, closed for a fourth consecutive trading session in overbought territory above the 200-day moving average.