U.S. markets were little changed on Thursday, which allowed overbought conditions to become even more overbought in many instances. Closing for a fourth day at or near extreme levels in overbought territory above the 200-day moving average are exchange-traded funds like the ^SPY^ and the ^IWM^.
Meanwhile, also closing in overbought territory for a fourth consecutive day – albeit BELOW the 200-day moving average- was the ^EWG^.
Here are 7 ETFs You Need to Know for Friday.
Among the few exchange-traded funds (ETFs) to carry top ETF PowerRatings into Friday’s trading is the ^CSJ^, which earned an ETF PowerRatings upgrade from 6 to 9 late in trading on Thursday.
Also earning top ETF PowerRatings ahead of Friday’s trading is the ^KRE^.
The most oversold exchange-traded fund (ETF) in our database going into the final day of trading for the week? Looking at pullbacks above the 200-day moving average, the ^USD^ has a 2-period RSI that places the fund just inside oversold territory.
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Sellers have helped send exchange-traded funds like the ^SMH^ and the ^PPH^ into oversold territory ahead of trading on Friday. Both funds earned ETF PowerRatings upgrades to 8.
Also overbought below the 200-day moving average is the ^FXP^, which gained nearly 3% on Thursday. Gains in FXP, of course, meant lower levels for the ^FXI^. FXI had closed in overbought territory below the 200-day moving average for four straight trading days before falling on Thursday by more than 1%.