TradingMarkets 7 ETFs You Need to Know for Monday
The heaviest selling on the final trading day of the week was in the energy sector, leading ETFs linked to energy stocks lower and more oversold.
Here are 7 ETFs You Need to Know for Monday.
Down more than 2% intraday on Friday, the Energy Select Sector SPDRS ETF
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PowerRating) is increasingly oversold below the 200-day moving average. By contrast, the ProShares UltraShort Oil & Gas ETF
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PowerRating), which matches two times the inverse of the Dow Jones U.S. Oil & Gas Index, was up more than 4%
The United States Oil Fund ETF
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PowerRating), which tracks the actual price of crude oil rather than the share prices of oil companies, was also lower below its 200-day, losing more than 3% intraday.
Closing higher for a sixth consecutive session above its 200-day moving average, the SPDRS Gold Shares ETF
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PowerRating) came under heavy selling shortly after midday on Friday. The iShares Silver Trust ETF
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PowerRating) also closed higher on Friday, but has traded in a tight, 50 cent range for more than a week.
Fading back below its 200-day moving average on an intraday basis, the India Fund
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PowerRating) went from being up more than 2% to closing in the red on the day.
Back in overbought territory below the 200-day moving average was the ProShares Short S&P 500 ETF
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SH |
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PowerRating). The short ETF has been in a $1 range for the past three days.
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