TradingMarkets 7 ETFs You Need to Know for Monday
Equity index ETFs like the S&P 500 SPDRS ETF
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PowerRating) and the iShares Russell 2000 Index ETF
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PowerRating) plunged into oversold territory on the open on Friday and remained oversold depsite rallying over the course of the session.
Financials and basic materials were among those sectors most aggressively sold, with both the ProShares Ultra Financial ETF
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PowerRating) closing in oversold territory above the 200-day moving average.
Here are 7 ETFs You Need to Know for Monday.
Early selling helped a number of exchange-traded funds earn major ETF PowerRatings upgrades on Friday. Among those ETFs earning the largest upgrades were the Financial Select Sector SPDR ETF
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PowerRating) and the iShares Dow Jones U.S. Financial Sector Index ETF
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PowerRating). Both ETFs earned ETF PowerRatings of 9 after pulling back by more than 2% on the day.
Small caps joined financials among the higher ETF PowerRatings funds at week’s end. Both the iShares S&P Small Cap 600 Growth Index ETF
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PowerRating) and the Vanguard Small Cap Growth ETF
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PowerRating) earned ETF PowerRatings upgrades from 8 to 9 on Friday.
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Among country ETFs, ETFs representing Russia and China are among the most oversold above the 200-day moving average. The Market Vectors Russia ETF
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PowerRating) dropped more than 4% on Friday, while the iShares FTSE/Xinhua China 25 ETF
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PowerRating) lost 4.5%. RSX has an ETF PowerRating of 9. FXI has an ETF PowerRating of 8.
The PowerShares DB U.S. Dollar Bearish Fund ETF
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PowerRating) dropped by 1% as initial fears from the Dubai sovereign wealth panic spurred a flight from risk on Friday.