TradingMarkets 7 ETFs You Need to Know for Thursday
Industrial and basic materials ETFs were the leaders on Wednesday, with many still not yet overbought despite their advances. Among the bigger surprises was the rally in the home builders, which gained on a day when financial ETFs were relatively flat.
Here are 7 ETFs You Need to Know for Thursday.
Industrial ETFs resumed their advance on Wednesday. The Industrials Select Sector SPDRS ETF
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PowerRating) moved closer to overbought territory below the 200-day moving average while the ProShares Ultra Industrials ETF
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PowerRating), up more than 3% intraday, is not yet technically overbought.
Down a little more than 1% on Wednesday, the PowerShares QQQ Trust ETF
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PowerRating) is again oversold – though still trading below its 200-day moving average.
The SPDR Homebuilders ETF
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PowerRating) jumped by more than 4% intraday on Wednesday, testing levels last reached in early February before pulling back into the close.
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Rallying to its highest closing levels since the first half of February, the SPDR Barclay’s Capital High Yield Bond ETF
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PowerRating) is once again overbought below its 200-day moving average.
While telecommunications stocks like Verizon Communications
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PowerRating) and AT&T
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PowerRating) were advancing, the broader technology group was under significant selling pressure on Wednesday. Shares of Intel
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PowerRating) were relatively flat ahead of earnings on Thursday.
This meant lower levels semiconductor based technology ETFs like the Semiconductor HOLDRs
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PowerRating), which were down by more than 2% intraday on Wednesday. SMH had spent the past three days in overbought territory below the 200-day moving average.
The sell-off in semiconductor-related stocks also meant a move higher in the ProShares UltraShort Semiconductor ETF
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PowerRating), which gained nearly 6% intraday on Wednesday.
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