TradingMarkets 7 ETFs You Need to Know for Monday
Financial ETFs led the charge higher on the final trading day of the week, as more and more ETFs rally to or beyond their 200-day moving averages.
Here are 7 ETFs You Need to Know for Monday.
Buying in JP Morgan Chase
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PowerRating) and Wells Fargo
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PowerRating) helped the Financial Select Sector SPDRS ETF
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PowerRating) gain more than 6% intraday on Friday. Friday’s advance pushes XLF back into overbought territory below the 200-day moving average.
Also re-entering overbought territory below its 200-day moving average on Friday was the Energy Select Sector SPDRS ETF
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PowerRating), which includes among its holdings stocks like El Paso Corporation
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PowerRating) and Chesapeake Energy Corporation
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PowerRating).
Pulling back above its 200-day moving average, the SPDRS Retail ETF
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PowerRating) closed in oversold territory on Friday.
Up for a third day in a row and six out of the past seven on Friday was the United States Natural Gas Fund ETF
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PowerRating) which tracks the price of natural gas.
Semiconductor stocks sold off aggressively again on Friday, leading to lower prices for the iShares S&P North American Semiconductor Index ETF
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PowerRating), and a fourth consecutive day of gains for the ProShares UltraShort Semiconductor ETF
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PowerRating). The PowerShares QQQ Trust ETF
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PowerRating), which contains a high number of technology stocks, rallied from oversold lows late in the Friday session.
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