TradingMarkets 7 ETFs You Need to Know for Friday
A positive day in the markets was led by stocks from sectors as dissimilar as utilities and technology. Emerging markets also continued to benefit from a shift in investor confidence toward the optimistic.
Here are 7 ETFs You Need to Know for Friday.
Up more than 5% on the day, the ProShares Ultra QQQ ETF, QLD
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PowerRating) moved deeper into overbought territory below the 200-day moving average.
The rally in emerging markets stocks continued again on Thursday, sending the iShares MSCI Emerging Markets exchange-traded fund, EEM
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PowerRating) higher by more than 13%.
Sliding deeper into oversold territory above the 200-day moving average, the PowerShares DB U.S. Dollar Bullish ETF, UUP
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PowerRating) closed in the green on Thursday after three consecutive lower highs and lower lows.
The ProShares Ultra Russell 2000 exchange-traded fund, UWM
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PowerRating) closed higher for a third session in a row on Thursday. UWM, which was up by more than 10% late in the trading day, continues to trade below its 200-day moving average.
Edging its way toward a new, 7-day high below the 200-day moving average, the Select Utilities Sector SPDRS, XLU
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PowerRating) gained more than 5% on Thursday.
Strength in the semiconductor sector led to more selling in the ProShares UltraShort Semiconductor ETF, SSG
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PowerRating), which lost more than 13% on Thursday. Trading above its 200-day moving average, SSG has closed lower for four out of the past five trading sessions, including Thursday’s new 7-day low.
With both Coeur d’Alene
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PowerRating) and GoldCorp
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PowerRating) both reporting quarterly earnings tomorrow, traders will likely be looking to take advantage of any surprises by way of the Select Gold Trust SPDRS, GLD
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PowerRating), which were pulling back from overbought extremes below the 200-day moving average on Thursday.
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