TradingMarkets 7 ETFs You Need to Know for Thursday
Utilities and energy stocks weighed heaviest on a market that seemed to be taking a breather after Tuesday’s dramatic declines. Risk aversion continues to drive ETF traders and investors toward the safety of the U.S. dollar, which is causing significant moves in currency-based exchange-traded funds.
Here are 7 ETFs You Need to Know for Thursday.
Down for five out of the past seven trading sessions, the Utilities Select Sector SPDRS ETF
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PowerRating) is more oversold than it has been at any point since the November 2008 lows. Among the few bright spots in the sector was Duke Energy
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PowerRating), which rallied from major oversold extremes on Wednesday.
The ProShares UltraShort Financials ETF
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PowerRating) closed higher for a third consecutive session on Wednesday and are increasingly overbought above the 200-day moving average.
The rout in crude oil continues as the iPath S&P GSCI Crude Oil Total Return Index ETN
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PowerRating) closed lower for the third consecutive session, and the sixth lower close out of the past seven.
The iShares Russell 2000 Index ETF
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PowerRating) broke down from a three-week consolidation to reach new 20-day lows on Wednesday.
Continued strength in the U.S. dollar as resulted in higher levels for the PowerShares DB U.S. Dollar Index Bullish ETF
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PowerRating) and lower levels for exchange-traded funds linked to international currencies like the CurrencyShares Japanese Yen Trust ETF
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PowerRating) and the CurrencyShares Euro Trust ETF
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PowerRating). The FXY is trading above its 200-day moving average as it pulls back. The FXE is trading below its 200-day moving average.
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