TradingMarkets 7 ETFs You Need to Know for Monday
Sellers remained aggressive in both the financial and technology sectors, leading the ^XLF^ and the ^XLK^ both down more than 3% and into oversold territory above the 200-day moving average.
With regard to equity index ETFs, the ^SPY^ closed in oversold territory for a second consecutive trading day on Friday.
Here are 7 ETFs You Need to Know for Monday.
Among the top ETF PowerRatings funds going into Monday’s trading are the ^SMH^ and the ^IYM^, both of which earned ETF PowerRatings of 10 late in trading on Friday..
One of the ETF earning the biggest ETF PowerRatings upgrades on Friday was the ^IWM^ which was upgraded from a 5 to a 9 on Friday.
The most oversold ETF in our database? Even in a universe of very oversold exchange-traded funds, the ^HYG^ comes out on top with a 2-period RSI of less than 1.00.
A number of exchange-traded funds are retreating to their 200-day moving averages, where volatility can become great. ETFs for high probability ETF traders to be wary of during their pullbacks include the ^FXI^, which closed below its 200-day moving average on Thursday, and the ^USO^, which retreated to its 200-day moving average on Friday.
Also earning a sizable ETF PowerRatings upgrade on Friday was the ^SDY^, which was upgraded from a 6 to a 9 late in trading on Friday.
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