TradingMarkets 7 ETFs You Need to Know for Friday
Markets were little changed on Thursday in the wake of the strong rally on Wednesday. Overbought conditions continue to define ETF markets across the board, from equity indexes to commodities.
Here are 7 ETFs You Need to Know for Friday.
A volatile day for the S&P 500 left the S&P Depositary Receipts ETF
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PowerRating) at break even levels going into the close.
Among the most oversold country ETFs is the iShares MSCI Japan Index ETF
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PowerRating). EWJ last closed in oversold territory above the 200-day on Tuesday.
Semiconductor ETFs continue to underperform technology ETFs as a whole. The ProShares UltraShort Semiconductor ETF
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PowerRating) gained more than 3% late in trading on Thursday, while the ProShares UltraShort Technology ETF
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PowerRating) was nearly unchanged.
Selling in financial shares helped bring the Regional Banking HOLDRS ETF
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PowerRating) down by nearly 1% in Thursday’s trading.
The most overbought ETF in our database right now? The Market Vectors Steel ETF
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PowerRating) has a 2-period RSI of more than 99.9 late in trading on Thursday. SLX has closed higher for ten out of the past 11 trading days and four in a row.
The most oversold ETF? Consider the ProShares Ultra Short QQQ ETF
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PowerRating), which has a RSI(2) of less than 0.25 and has closed lower for four consecutive days below its 200-day moving average.
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