TradingMarkets 7 ETFs You Need to Know for Thursday
The idea of a “bad bank” that would remove toxic assets from the balance sheets of banks cheered ETF traders and investors, who bid shares of financial ETFs of all kinds higher on Wednesday. The bullishness has left a number of ETFs increasingly overbought in the short term.
Here are 7 ETFs You Need to Know for Thursday.
Financial stocks were the clear leaders on Wednesday, driving exchange-traded funds linked to financial stocks deeper into overbought territory below the 200-day moving average. Among these ETFs is the iShares Dow Jones U.S. Financial Services ETF, IYG
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Also moving higher and further into overbought territory below the 200-day moving average is the Financial Select Sector SPDRS ETF, XLF
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Consumer discretionary stocks were also advancing on Wednesday, led by Coach Inc.
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PowerRating). This ETF was testing 7-day highs below the 200-day moving average by mid-day.
The PowerShares DB Dollar Index Bullish ETF, UUP
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Testing January highs on Wednesday was the iShares MSCI Taiwan Index ETF, EWT
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Pulling back sharply and moving further into oversold territory were a wide number of short/inverse exchange-traded funds, with the ProShares UltraShort Technology ETF, REW
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