TradingMarkets 7 ETFs You Need to Know for Thursday
Up, up and away! Aggressive buying from the opening bell sent most sector ETFs soaring at mid-week. Pullbacks in bond ETFs continued, as commodity ETFs from gold to coal gapped higher.
The S&P 500 SPDR ETF
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PowerRating) or S&P Depository Receipts gained nearly 3% intraday on Wednesday, closing higher for a fourth consecutive trading day above its 200-day moving average.
Plunging by more than 3% intra-day after succumbing to overbought conditions below its 200-day moving average was the ProShares Short S&P 500 ETF
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PowerRating).
Financials and technology shares were among those most sought after by traders and investors on Wednesday. Up more than 9% intra-day and entering its third overbought day below its 200-day moving average was the ProShares Ultra Financials ETF
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PowerRating). Soaring to year-to-date highs was the Semiconductor HOLDRS ETF
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PowerRating), which added more than 4%.
Closing lower for a third day in a row was the iShares Barclays Aggregate Bond ETF
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PowerRating). AGG has closed in oversold territory above the 200-day for the past two trading sessions.
Up well over 2% intra-day on Wednesday, the iShares Silver Trust
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PowerRating) was one of many precious metals ETFs making major gains at the expense of the >greenback. The PowerShares DB U.S. Index Bullish ETF
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PowerRating) fell to its lowest closing level since its most recent bottom on June 2nd.
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