TradingMarkets 7 ETFs You Need to Know for Monday

Strength in materials stocks made basic materials ETFs among the best performers on Friday. Widespread buying has pushed most sector and country ETFs into overbought territory below the 200-day moving average.

Here are 7 ETFs You Need to Know for Monday.

An earnings surprise from Schlumberger
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helped put traders in the energy sector in a buying mood on Friday. This meant higher prices for basic materials ETFs like the Materials Select Sector SPDRS ETF
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, as well as the iShares Dow Jones U.S. Basic Materials Index ETF
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, both of which were up more than 4% midway through trading on Friday and are exceptionally overbought below their 200-day moving averages.

Dropping to its lowest levels in six months was the ProShares UltraShort Basic Materials ETF
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. The fund, which is leveraged two-to-one to the inverse of the daily performance of the Dow Jones U.S. Basic Materials index, was down more than 8% late in trading on Friday.

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Strength in a variety of retailers, from Lowe’s
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to Target
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, coupled with the earnings performance by Amazon.com
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, helped boost consumer discretionary sector exchange-traded funds including the ProShares Ultra Consumer Services ETF
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, which was up by more than 3% intraday on Friday.

News that ProShares will be looking to provide triple leveraged ETFs along with its line of 2x funds means that popular triple-leveraged ETFs like the Direxion Financial Bull 3x Shares ETF
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will have some company and competition.

One of the few country ETFs to have rallied above its 200-day moving average this spring, the iShares FTSE/Xinhua China 25 Index ETF
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, was up more than 2% on Friday before pulling back.

Trading near its highest levels of the week below the 200-day moving average intraday on Friday was the iShares Nasdaq Biotechnology ETF
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, which includes biotechnology stocks like Amgen
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and Gilead Sciences Inc.
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.

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