TradingMarkets 7 ETFs You Need to Know for Friday
Leadership shifted from financials to technology and the industrial sector on Thursday, providing the broader markets with solid gains following Wednesday’s rally in the final hour of trading.
Here are 7 ETFs You Need to Know for Friday.
Strength in industrial ETFs continues to surprise investors and traders alike. One industrial ETF that was advancing on the day was the iShares Dow Jones U.S. Industrial Sector Index ETF
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PowerRating), which was up more than 4% and is back in overbought territory below the 200-day moving average. The rally in industrial stocks meant lower levels and an even deeper pullback for short ETFs like the ProShares UltraShort Industrials ETF
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Buyers were also aggressive in technology shares, driving exchange-traded funds with exposure to tech stocks higher. For short term ETF traders, leveraged ETFs like the the ProShares Ultra Technology ETF
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Another leveraged option for ETF traders in the short term is the ProShares Ultra QQQ ETF
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PowerRating), which consists of a high percentage of technology and biotechnology stocks. QLD was up more than 4% late on Thursday.
Those looking for longer-term exposure to the technology sector may find unleveraged tech ETFs like the Vanguard Information Technology ETF
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Pulling back for a third day in a row was the CurrencyShares British Pound Sterling Trust ETF
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Down for a fifth consecutive trading session above the 200-day moving average was the iShares Barclay’s Aggregate Bond ETF
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PowerRating). Although not as oversold as on Wednesday, AGG remains significantly oversold based on its 2-period RSI below 25.
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