TradingMarkets 7 ETFs You Need To Know for Thursday
The aggressive selling at midweek created the deepest pullbacks in sectors like energy and basic materials. The ^DIG^ and the ^XLB^ both moved lower into oversold territory above the 200-day moving average.
Asian country funds have begun a retreat to new short term lows. Included among these increasingly oversold ETFs are funds like the ^EWT^, which lost more than 2% on Wednesday.
Here are 7 ETFs You Need to Know for Thursday.
Major equity index exchange-traded funds like the ^SPY^ and the ^DIA^ both pulled back to the edge of oversold territory above the 200-day moving average on Wednesday.
Among the highest rated ETF PowerRatings funds going into trading on Thursday are the ^ILF^ and the ^EWJ^. EWJ earned one of the largest ETF PowerRatings upgrades of the day on Wednesday.
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Gold-related exchange-traded funds for both bullion and miners plunged on Wednesday, with both the SPDR Gold Trust ETF ^GLD^ and the ^GDX^ pulling back by more than 2% and 4% respectively.
The most oversold ETF in our database ahead of Thursday’s trading? Outside of the currency and commodity-related ETFs, the most oversold exchange-traded fund trading above the 200-day moving average is a country fund: the ^EWC^, which has a 2-period RSI of less than 6.