On the final trading day of 2009, financials were the upside beneficiaries of what little trading there was. Rallying from short term oversold conditions above the 200-day moving average at week’s end were the ^UYG^ and the ^VFH^.
Among equity index ETFs, the ^DIA^ led the majors lower and into oversold territory above the 200-day.
Here are 7 ETFs You Need to Know for Monday.
The top ETF PowerRatings funds going into the New Year? Two of the biggest ETF PowerRatings upgrades were in the S&P ^XHB^ and the ^EWJ^, both of which moved deeper into oversold territory on Thursday.
Also among top ETF PowerRatings funds is the ^IYT^. IYT earned a PowerRating upgrade from 6 to 9 to end the week.
Click here to learn which are the two most important moving averages for high probability – and ETF PowerRatings – traders.
Despite continued strength in oil, the ^DIG^ remains exceptionally oversold above the 200-day moving average.
The most oversold ETF in our database is the ^IVE^, which finished the week with a 2-period RSI of less than 3.
Although high yield bond ETFs like ^JNK^ continue to recover from their short term, oversold lows, other bond funds such as the ^AGG^ have reversed back to the downside after the two-day bounce.
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