TradingMarkets 7 ETFs You Need to Know for Monday
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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