Sellers remained on the offensive on Thursday, extending oversold conditions in sectors like Basic Materials (witness the pullback of more than 4% by the ^IYM^), and among country-based exchange-traded funds like the ^EWZ^, which was also off by more than 4%..
Leveraged exchange-traded funds, especially inverse leveraged ETFs, advanced for a second day, with many becoming especially overbought below the 200-day moving average and increasingly vulnerable to reversal. One of the more overbought ETFs below the 200-day is the inverse leveraged fund, ^DIG^, the .
Here are 7 ETFs You Need to Know for Friday.
Among the top ETF PowerRatings funds going into the final trading day of the week are the ^XHB^ and the ^PIN^. PIN earned a PowerRatings upgrade from 5 to 9 on Thursday, making its upgrade among the biggest of the day.
EWA is also one of the highest rated exchange-traded funds going into Thursday’s trading. The ^EWA^ also earned one of the biggest ETF PowerRatings upgrades, advancing from a 6 to a 9.
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The most oversold exchange-traded fund in our database? With a 2-period RSI of less than 2, that fund is the ^PGF^.
The U.S. Dollar continued to strengthen, making the ^UDN^ among the more oversold currency/commodity ETFs as of Thursday’s close.
While the ^RJA^ remained relatively unchanged, the ^MOO^, which includes stocks like ^ADM^ and ^MON^ among its components, pulled back by more than 3% late in trading on Thursday.
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