TradingMarkets 7 ETFs You Need to Know for Monday
Pullbacks in health care and continued gains in materials and energy ETFs were accompanied by a number of bullish performances by country ETFs and bond ETFs. Oversold conditions among ETFs above the 200-day are increasingly scarce.
Here are 7 ETFs You Need to Know for Monday.
Up for a second day in a row after a one-day pullback into oversold territory above the 200-day was the Materials Select Sector SPDR ETF
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XLB |
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PowerRating). The ETF closed at its highest levels since October 2008.
Precious metals ETFs bounced on Friday with the iShares Silver Trust ETF
(
SLV |
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PowerRating) gaining more than 3% intraday and the SPDR Gold Shares ETF
(
GLD |
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PowerRating) up more than 2% during the session. Both ETFs track the price of silver and gold, respectively, rather than the price of gold and silver mining companies.
Traders looking for exposure to gold mining companies may consider an ETF like the Market Vectors Gold Miners ETF
(
GDX |
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PowerRating). Up more than 4% on Friday, GDX includes mining companies like Barrick Gold
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ABX |
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PowerRating) and Newmont Mining
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NEM |
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PowerRating).
Becoming more and more overbought below the 200-day moving average is the SPDR KBW Regional Banking ETF
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KRE |
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PowerRating), which had closed higher for eight days in a row leading into and including Friday.
One place traders may want to look for pullbacks in ETFs is the health care sector, with the iShares Dow Jones Healthcare Services Index ETF
(
IYH |
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PowerRating) and the Healthcare Select Sector SPDR ETF (noted in yesterday’s TradingMarkets 7 ETFs You Need to Know) moving closer to oversold territory above the 200-day.
Bond buyers have pushed the iShares Barclays 20+ Year Bond ETF
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TLT |
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PowerRating) deeper into overbought territory below the 200-day moving average. Friday marked the third consecutive overbought close for the TLT.
Larry Connors will be conducting a 2 1/2 day High Probability ETF Trading Seminar beginning August 14. If you’d like to attend a free online presentation explaining the concepts of High Probability ETF Trading and introducing the 2 1/2 day Seminar coming in early August, please call 1-888-484-8220 ext. 1 or click here to register today.
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