TradingMarkets 7 ETFs You Need to Know for Monday
Financials were once again among the leaders on a day that saw the Dow, S&P 500 and Nasdaq all finish in the green. Consumer discretionary stocks were also big winners on Friday – having been one of the unheralded sector leaders all week long. Technology, by contrast, continued to lag, as did consumer staples stocks.
Here are 7 ETFs You Need to Know for Monday
Up for a fourth day in a row, the iShares Dow Jones U.S. Consumer Cyclicals ETF, IYC
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PowerRating), closed above its 5-day moving average again on Friday, setting a new 7-day high below the 200-day moving average in the process.
Although small cap stocks have tended to lag the S&P 500 this year, the iShares S&P Small Cap 600 exchange-traded fund, IJR
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PowerRating), rallied by more than 4% on Friday. Advancing for four days in a row, IJR also set a new 7-day high below the 200-day moving average.
Increasingly overbought below the 200-day moving average, the India Fund, IFN
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PowerRating) closed higher by approximately 3% on Friday.
Healthcare stocks edged higher on Friday, driving the Select Healthcare Sector SPDRS, XLV
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PowerRating), up by more than 2% at the end of the week.
The ProShares Ultra Financials ETF, UYG
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PowerRating), advanced by more than 8% on Friday, setting a new, 7-day high. Trading below its 200-day moving average, UYG is increasingly overbought. Conversely, the ProShares UltraShort Financials exchange-traded fund, SKF
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PowerRating) pulled back by more than 9% late in trading on Friday, setting a new 7-day low above the 200-day moving average.
Even temporary foreclosure forgiveness from the likes of JP Morgan helped encourage traders to put money in homebuilding stocks. The Select Homebuilder Sector SPDRS, XHB
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PowerRating), gained more than 5% on Friday and have closed higher for four out of the past six trading sessions.
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