TradingMarkets 7 ETFs You Need to Know for Monday
The widely-anticipated profit-taking arrived on Friday, sending country and equity indexes lower by more than 2% in many instances. Top ETF PowerRatings exchange-traded funds (ETFs) include: EWY, KRE, IYR.
Here are 7 ETFs You Need to Know for Monday.
Among country ETFs pulling back on Friday were the iShares FTSE/Xinhua China 25 Index Fund ETF
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PowerRating) and the iShares MSCI Japan Index Fund ETF
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EWJ |
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PowerRating), both of which lost well over 1% on the day.
Small cap stocks were under strong selling pressure on Friday, sending shares of ETFs like the iShares Russell 2000 Index Fund ETF
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PowerRating) lower by over 1% and into oversold territory above the 200-day moving average.
Meanwhile, climbing into overbought territory below the 200-day moving average are inverse or short ETFs like the ProShares UltraShort Semiconductor ETF
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PowerRating) and the Direxion Daily Financial 3x Bear Shares ETF
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FAZ |
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PowerRating). SSG gained more than 4% on Friday. FAZ advanced by more than 6%.
Speaking of semiconductors, the ProShares Ultra Semiconductor ETF
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PowerRating) continued to move lower again on Friday, dropping by another 4% on the day and moving into oversold territory above the 200-day.
Also pulling back on Friday were shares of the Materials Select Sector SPDRS ETF
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XLB |
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PowerRating) which includes stocks such as Dupont
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PowerRating). XLB had spent the past eight consecutive days in overbought territory.