TradingMarkets 7 ETFs You Need to Know for Monday
The sell-off in U.S. markets continued on Friday, setting up exceptionally oversold conditions for traders when trading begins on Monday. Among some of the more oversold groups are emerging markets (see the ^BIK^) and Europe (note the ^EWU^.
Technology continues to rank highly among oversold sectors with funds like the ^SMH^ earning an ETF PowerRating of 9.
Here are 7 ETFs You Need to Know for Monday.
Moving up from its ETF PowerRating of 8 to 9 was the ^EWZ^. EWZ dropped below its 200-day moving average, but managed to rally back above that level going into the close.
Two of the biggest ETF PowerRatings upgrades of the day on Friday were the upgrades from 5 to 9 in the ^EWD^ and the upgrade from 6 to 9 in the ^RSX^.
The most oversold ETF in our database? Ahead of trading on Monday, that exchange-traded fund is the ^JNK^.
Of those sectors earning top ETF PowerRating going into Monday’s trading are the energies – represented by ETFs like the ^XES^ – and shippers – represented by funds like the ^SEA^
Another move down in stocks was accompanied by similar weakness in commodities. Closing lower for the day but off its worst levels was the ^SLV^. SLV has closed below its 200-day moving average for a second consecutive trading session.