TradingMarkets 7 ETFs You Need to Know for Thursday
The most oversold exchange-traded funds (ETFs) going into Thursday’s trading include a sizable number of financial-oriented ETFs, while semiconductor ETFs that had pulled back on Tuesday advanced. Top ETF PowerRatings Funds include: KIE, EWO, RSX.
Here are 7 ETFs You Need to Know for Thursday.
Among the financials pulling back into oversold territory and earning high ETF PowerRatings of 9 in the process are the Financial Select Sector SPDRS ETF
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PowerRating) and the Regional Bank HOLDRS ETF
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PowerRating). XLF slid just under 1% in retracing half of the previous day’s gains, while the RKH pulled back by more than 1%, totally erasing Tuesday’s modest advance.
In addition to the two high-ETF PowerRating country funds noted above, the iShares MSCI Turkey Investable Market Index Fund ETF
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PowerRating) closed with an ETF PowerRating of 9 despite bounding higher by nearly 2% on Wednesday.
ETFs representing crude oil advanced on Wednesday, with the United States Oil Fund ETF
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PowerRating) up 1% to close at its highest level in nine days. In contrast, the United States Natural Gas Fund ETF
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UNG |
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PowerRating) slid by 3%.
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Up by nearly 1% was the Technology Select Sector SPDRS ETF
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PowerRating), which benefitted from renewed strength in the semiconductor sector.
Pullbacks in bond ETFs helped deepen oversold conditions above the 200-day moving averages in funds like the SPDR Barclays High Yield Bond ETF
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JNK |
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PowerRating).