TradingMarkets 7 ETFs You Need to Know for Friday
Markets were relatively muted as a number of country ETFs remained in trading ranges. Financials again appeared to be the favorite destination for traders and investors on Thursday, pushing ETFs related to the sector into or toward overbought territory above the 200-day moving average.
Here are 7 ETFs You Need to Know for Friday.
Outperformance by financial stocks like Bank of America
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PowerRating) and First Third Bancorp
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PowerRating) helped make financial ETFs among Thursday’s best performers. The iShares Dow Jones U.S. Financial Services Index ETF
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PowerRating) gained nearly 1% intraday while the the Retail Bank HOLDRS ETF
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PowerRating) climbed by more than 1.5% late in trading.
Neck and neck with the financials in competition for trader and investor dollars were materials stocks like Alcoa
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PowerRating) and Freeport McMoran Copper and Gold
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PowerRating). This meant higher prices for exchange-traded funds linked to the basic materials sector such as the Materials Select Sector SPDR ETF
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PowerRating), which closed at its highest levels since September 2008.
Find out what you need to know about trading exchange-traded funds (ETFs) like XLB in our primer: ETF Basics: What You Need to Know about Exchange-Traded Funds.
Still mired in a 16-day trading range is the iShares FTSE/Xinhua China 25 ETF
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PowerRating), which pulled back mildly above the 200-day moving average on Thursday.
At its highest closing levels in five days, the United States Oil Fund
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PowerRating) gained more than 1% on Thursday, just edging into overbought territory above the 200-day.
With news of their economies producing modest GDP growth for the second quarter, both Germany and France saw their most widely traded ETFs rally by more than 1% on Thursday. The iShares MSCI Germany Index ETF
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PowerRating) includes stocks like Deutsche Bank and Deutsche Telekom. The iShares MSCI France Index ETF
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PowerRating) has among its largest components, Total SA and Sanofi-Aventis.
Larry Connors will be conducting a 2 1/2 day High Probability ETF Trading Seminar beginning August 14. If you’d like to attend a free online presentation explaining the concepts of High Probability ETF Trading and introducing the 2 1/2 day Seminar coming in early August, please call 1-888-484-8220 ext. 1 or click here to register today.
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