TradingMarkets 7 ETFs You Need to Know for Monday
Most sectors ended expiration Friday higher, with buyers especially aggressive in pro-bull market areas like financials and consumer cyclicals.
Here are 7 ETFs You Need to Know for Monday.
Smaller banks were the stars in the financial firmament on last trading day of the week. Both Sun Trust Banks
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PowerRating) and BB&T
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PowerRating) were up more than 11% late in trading on Friday.
This helped regional banking ETFs like the SPDR KBW Regional Banking ETF
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PowerRating) and the Regional Banks HOLDRS
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PowerRating) gain more than 4% on the day. Both ETFs re-entered overbought territory below the 200-day moving average.
Continuing on their own race to the 200-day moving average were consumer cyclical/discretionary exchange-traded funds, including the Vanguard Consumer Discretionary ETF
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PowerRating), which rallied to its highest levels since November 2008.
The ProShares Ultra Oil & Gas ETF
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PowerRating) closed in overbought territory below the 200-day moving average for a second consecutive session on Friday, gaining more than 2%.
“Ultra” ETFs like DIG are leveraged and give ETF traders and investors 2-to-1 exposure to the Dow Jones U.S. Oil & Gas Index. Find out more about leveraged ETFs in our primer, What You Need to Know About Trading and Investing in Leveraged Exchange-Traded Funds (ETFs).
The Health Care Select Sector SPDRS ETF
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PowerRating) closed at their highest levels in more than a month on Friday, breaking free from a trading range that extended back to mid-March. XLV has closed in overbought territory below the 200-day moving average for three consecutive days.
Concerns about the European economy have led to continued decline in the value of the euro relative to the dollar. The CurrencyShares Euro Trust
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PowerRating) closed at 21-day lows on Friday, plunging below its 50-day moving average.
Closing for a second day in overbought territory below the 200-day moving average was the ProShares Ultra QQQ ETF
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PowerRating), which has closed higher for six out of the past seven days.
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