TradingMarkets 7 ETFs You Need to Know for Thursday
Profit-taking after the two-day rally was most aggressive in the financial and health care sectors, with the ^UYG^ down 2% late in trading on Wednesday and the ^VHT^ off nearly1%.
The ^RSX^ was among the country exchange-traded funds pulling back again on Wednesday, although not yet back in oversold territory above the 200-day moving average.
Here are 7 ETFs You Need to Know for Thursday.
Among the top ETF PowerRatings funds going into trading on Thursday are the ^SMH^ and the ^IAT^. SMH pulled back slightly after advancing fot two sessions in a row. IAT, by contrast, has closed lower for two consecutive trading days, the most recent in oversold territory above the 200-day moving average.
The ^EWT^ remains the highest rated country ETF in our ETF PowerRatings database ahead of Thurday’s trading. EWT’s ETF PowerRating slipped from a top 10-rating to a 9 over the course of trading on Wednesday.
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Closing above its 200-day moving average for the second day in four was the ^UUP^.
The most oversold exchange-traded fund in our database after Wednesday’s pullback? The ^KRE^ has a 2-period RSI of less than 4 ahead of trading on Thursday.
In addition to EWT, the ^EWZ^ is one of the highest rated ETF PowerRatings country funds for Thursday, earning an ETF PowerRating of 9.
High probability traders are likely steering clear of the ^FXI^ for the time being. The ETF earned a “consider avoiding” ETF PowerRating of 3 as of the close on Wednesday.