TradingMarkets 7 ETFs You Need to Know for Thursday
Bond ETFs pulled back and country ETFs tended to tread water at midweek. Meanwhile, technology and consumer discretionary ETFs continued to see extreme buying pressure.
Here are 7 ETFs You Need to Know for Thursday.
Continued bullishness and optimism toward technology stocks played a positive role in the advance of the PowerShares QQQ Trust ETF
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PowerRating) which made its 11th consecutive higher high on Wednesday. Like many equity index ETFs, QQQQ is both above its 200-day moving average and extremely overbought.
Buyers returned to the consumer discretionary sector on Wednesday, bidding shares of the Consumer Discretionary Select Sector SPDR ETF
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XLY |
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PowerRating) higher. Trading above its 200-day, the very overbought XLY has closed with a 2-period RSI of more than 99 for four days in a row.
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Up more than 4% intraday on Wednesday were shares of the ProShares Ultra Semiconductor ETF
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USD |
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PowerRating). Among the largest holdings in USD are stocks like Texas Instruments
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PowerRating) and Applied Materials
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AMAT |
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PowerRating).
Continuing to test its highest levels of the year, the iShares MSCI Japan Index ETF
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EWJ |
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PowerRating) added more than 1% on Wednesday. Having recently closed at year-to-date highs, the iShares MSCI Hong Kong Index ETF
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EWH |
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PowerRating) has moved sideways for the past three days.
Sellers took profits from the quick bond rally of Tuesday, taking bond ETFs like the iShares Barclays Aggregate Bond ETF
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AGG |
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PowerRating) and the Vanguard Total Bond Market ETF
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BND |
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PowerRating) down from overbought territory above their 200-day moving averages.
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