TradingMarkets 7 ETFs You Need to Know for Monday
Profit-taking in financials and technology ETFs took the form of a recession trade, as health care and consumer staples exchange-traded funds advanced.
Here are 7 ETFs You Need to Know for Monday.
Led by rallies in Merck & Co.
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PowerRating) and Humana Inc.
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PowerRating), the Health Care Select Sector SPDRS ETF
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Pharmaceutical stocks were also advancing at week’s end, meaning higher prices for the iShares Dow Jones U.S. Pharmaceuticals Index ETF
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PowerRating), which was up nearly 3% on Friday and is increasingly overbought below the 200-day moving average.
Given the strong rallies in financial stocks of late, the profit-taking on Friday was markedly mild. The Direxion Financial Bull 3x Shares ETF
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PowerRating) were down less than 1% on Friday and the iShares Dow Jones U.S. Financial Sector ETF
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PowerRating) was trading at roughly breakeven.
Up three out of the past four trading days below the 200-day moving average is the Vanguard Consumer Staples ETF
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PowerRating), which includes among its holdings “recession-proof” stocks like Wal-Mart
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PowerRating) and Procter & Gamble
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PowerRating).
Losses in Conoco Phillips
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PowerRating) and Occidental Petroleum
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PowerRating) helped keep energy ETFs under pressure on Friday. The Energy Select Sector SPDRS ETF
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PowerRating) pulled back after three days in overbought territory below the 200-day moving average.
Also lower after three consecutive days in overbought territory below the 200-day moving average was the ProShares Ultra Technology ETF
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PowerRating). ROM seeks to reproduce two times the daily returns of the Dow Jones U.S. Technology Index.