TradingMarkets 7 ETFs You Need to Know for Thursday

Financial ETFs remained under pressure as energy and basic materials funds provided what little upside there was on Wednesday. While a number of Asian country ETFs continued to consolidate, many European country ETFs closed above their 200-day moving averages on Wednesday for the first time since the summer of 2008.

Here are 7 ETFs You Need to Know for Thursday.

Energy ETFs were among those highest in demand on Wednesday, pushing some of the more widely-traded energy funds deeper into overbought territory below the 200-day moving average. Among these ETFs were the iShares Dow Jones U.S. Energy ETF
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and the Energy Select Sector SPDRS ETF
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, both of which rallied above their 200-day moving averages only to fade back below that level later in the trading day.

Up more than 2% intraday before fading dramatically late in the trading day on Wednesday was the iShares Dow Jones U.S. Basic Materials ETF
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. The ETF includes among its holdings stocks like DuPont
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and Praxair Inc.
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.

Profit-taking accelerated in financial shares, with sellers especially aggressive in stocks like Goldman Sachs
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and JP Morgan Chase
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. This meant higher prices for the Direxion Financial Bear 3x Shares ETF
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, which provides three times the daily return of the Russell 1000 Financial Services Index. FAZ gained more than 7% intraday on Wednesday.

A number of country funds based on nations in the European Union closed above their 200-day moving averages for the first time since June 2008. Among them were the iShares MSCI Germany Index ETF
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and the iShares MSCI France Index ETF
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.

Rallying to its highest closing levels since mid-March was the SPDRS Gold Shares ETF
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on Wednesday. GLD had closed in oversold territory above the 200-day moving average as recently as Monday.

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