TradingMarkets 7 ETFs You Need to Know for Monday
After days of declines, emerging markets related exchange-traded funds are back in the green – though still very stretched below their 200-day moving averages.
Some of the more interesting pullbacks to the 200-day moving average are occurring in markets for transportation, Russell 2000 and S&P 600 small cap stocks.
The ETFs linked to these markets are all oversold, with 2-period Relative Strength Index values in the single digits, and are worth watching in the near-term.
Overbought markets above the 200-day moving average, such as the short and leveraged short ETFs indexed to oil and gas stocks and the Nasdaq 100, are also hinting at potential pull backs over the next few days. Profit-taking in these funds in the near term should not come as a surprise.
Here are 7 ETFs You Need to Know for Monday.
After four days of pulling back, the iShares Dow Jones Transportation Average Index fund, IYT
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A similar pullback is taking place in the iShares S&P Small Cap 600 Index ETF, IJR
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The iShares Russell 2000 Trust exchange-traded fund, IWM
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The ProShares UltraShort Utilities ETF, SDP
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Setting a new high in trading on Friday, the ProShares UltraShort Oil & Gas exchange-traded fund, DUG
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Also making new highs and becoming increasingly overbought above the 200-day moving average is the ProShares UltraShort ETF, QID
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PowerRating).
Again rallying from its intraday lows, the Select Energy Sector SPDRS, XLE
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