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You are here: Home / ETFs / Commentary / TradingMarkets 7 ETFs You Need to Know for Friday

TradingMarkets 7 ETFs You Need to Know for Friday

March 4, 2010 by David Penn

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%.

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Filed Under: Commentary, ETFs, Recent Tagged With: etf funds, ETFs, exchange traded funds, exchange-traded funds

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