TradingMarkets 7 ETFs You Need to Know for Thursday
Strength in technology helped push equity index exchange-traded funds like the ProShares Ultra QQQ ETF
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PowerRating) up by more than 1% and into overbought territory above the 200-day moving average on Wednesday. Even more impressive were the gains of small cap equity index ETFs like the ProShares Ultra Russell 2000 ETF
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PowerRating), which was more than 2%.
Precious metals ETFs bounced, with the previously oversold PowerShares DB Gold Double Long ETN
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Here are 7 ETFs You Need to Know for Thursday.
With the major equity indexes little changed on Wednesday, buyers were most aggressive in the materials and energies sectors. This meant higher prices for exchange-traded funds like the Materials Select Sector SPDRS ETF
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PowerRating) which was up more than 1% on Wednesday, and the iShares Dow Jones U.S. Energy Services ETF
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PowerRating). IYE closed in overbought territory above the 200-day moving average for a third consecutive trading day.
Among the top ETF PowerRatings funds for Thursday are country funds like the iShares MSCI South Africa Index Fund ETF
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PowerRating) and the iShares MSCI Brazil Index Fund ETF
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PowerRating). Both EZA and EWZ have ETF PowerRatings of 9.
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The most oversold ETF in the market right now? With a 2-period RSI of less than 14, the iShares MSCI Singapore Index Fund ETF
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PowerRating) is the most oversold country ETF in our database of country and regional exchange-traded funds.
Gold mining shares soared on Wednesday, with the Market Vectors Gold Miners ETF
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PowerRating) gaining nearly 3%.
With the CBOE Volatility Index or VIX trading at its lowest level since August 2008, it is little surprise to see the new lows in the iPath S&P 500 VIX Short Term Futures ETN
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PowerRating) again on Wednesday.