TradingMarkets 7 ETFs You Need to Know for Monday
The deepest pullbacks among exchange-traded funds (ETFs) at week’s end were in the energy and materials sectors as traders and investors took profits after recent short-term gains amid plunging prices for crude oil.
Here are 7 ETFs You Need to Know for Monday.
Down more than 4% intraday on Friday was the United States Oil Fund ETF
(
USO |
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PowerRating). USO tracks the price of West Texas intermediate light, sweet crude oil, as well as other energy commodities including natural gas and heating oil.
Sellers continue to dominate the India Fund
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IFN |
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PowerRating), which has closed lower for four out of the past five trading days and seven out of the past nine. The ETF is at its most oversold levels since early July.
Nearing oversold levels above the 200-day moving average during Friday’s pullback were energy ETFs like the Vanguard Energy ETF
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VDE |
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PowerRating) and the Energy Select Sector SPDR ETF
(
XLE |
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PowerRating).
Also pulling back on Friday was the ProShares Ultra Basic Materials ETF
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UYM |
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PowerRating), which lost more than 5% intraday.
While bond ETFs continued to advance (as mentioned in yesterday’s TradingMarkets 7 ETFs You Need to Know), high yield bond ETFs like the SPDR Barclays Capital High Yield Bond ETF
(
JNK |
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PowerRating) are among the most oversold ETFs above the 200-day moving average.
Weakness in commodity prices led to major breakdowns in commodity currencies like the Canadian dollar. ETF traders and investors can get exposure to the forex markets through ETFs like the CurrencyShares Canadian Dollar Trust ETF
(
FXC |
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PowerRating).
Larry Connors will be conducting a 2 1/2 day High Probability ETF Trading Seminar beginning August 14. If you’d like to attend a free online presentation explaining the concepts of High Probability ETF Trading and introducing the 2 1/2 day Seminar coming in early August, please call 1-888-484-8220 ext. 1 or click here to register today.
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