Semiconductors, as represented by exchange-traded funds like the ^SMH^, joined the pullback in the broader technology sector on Thursday. Exchange-traded funds like the ^XLK^, noted in yesterday’s 7 ETFs You Need to Know, retreated deeper into oversold territory above the 200-day moving average. Both SMH and XLK earned ETF PowerRatings upgrades to 8.
Increasingly overbought and due for a pullback above the 200-day moving average are financials. Closing in overbought territory for a fourth consecutive trading session and soaring more than 4% on Thursday was the ^UYG^.
Here are 7 ETFs You Need to Know for Friday.
Among the top ETF PowerRatings funds going into trading on the final day of the trading week are the ^VGT^ and the ^IYW^. VGT and IYW were among the bigger ETF PowerRatings upgrades on Wednesday.
Also continuing to rank among our highest ETF PowerRatings funds is the ^XLU^, which closed lower for four out of the past five days on Thursday.
Which are the two most important moving averages for high probability traders – including ETF PowerRatings traders? Click here to find out.
The REIT-related exchange-traded funds featured here in 7 ETFs You Need to Know over the past few days were among those funds moving higher on Thursday. Crossing above their 5-day moving averages and closing back in overbought territory were the ^VNQ^, which had closed on Wednesday with a top ETF PowerRating of 10.
The most overbought ETF in our high probability ETF database? The ^RKH^ has had a 2-period RSI of more than 90 for four consecutive trading days and is increasingly vulnerable to reversal.
Three days in a row in overbought territory above the 200-day moving average was enough for the ^FXI^, which pulled back sharply on Thursday. Also pulling back, though not as sharply, was the ^EWZ^.