TradingMarkets 7 ETFs You Need to Know for Thursday

Everything but the financials? Sellers were out in force on Wednesday, unloading shares of everything from technology to health care to basic materials. Pullbacks in country ETFs intensified – led by the drop in the iShares MSCI Taiwan Index ETF
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noted in yesterday’s 7 ETFs You Need to Know. Bond ETFs, which have been pulling back for the past few days, bounced.

Here are 7 ETFs You Need to Know for Thursday.

Set to close higher for an 11th consecutive trading day, the Financial Select SPDR ETF
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was indicative of the continued strength in financial and banking ETFs. Up nearly 3% intraday was the Retail Bank HOLDRS ETF
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.

After a one-day bounce after dipping into oversold territory above the 200-day moving average, the SPDR S&P Biotechnology ETF
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slid back toward oversold levels on Wednesday.

The selling on Wednesday has already taken the Semiconductor HOLDRS ETF
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into oversold levels above the 200-day shortly after noon Wednesday afternoon. Even more emphatically, the ProShares Ultra Semiconductor ETF
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lost more than 3% in pulling back intraday into oversold territory above the 200-day.

While a number of bond ETFs have bounced on Wednesday, the iShares Barclays Aggregate Bond ETF
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remains under selling pressure and in oversold territory above the 200-day.

Strength in the British pound versus the U.S. dollar continues to drive the CurrencyShares British Pound Sterling Trust
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higher, with a new nine-month high notched on Wednesday.

Larry Connors will be conducting a 2 1/2 day High Probability ETF Trading Seminar beginning August 14. If you’d like to attend a free online presentation explaining the concepts of High Probability ETF Trading and introducing the 2 1/2 day Seminar coming in early August, please call 1-888-484-8220 ext. 1 or click here to register today.

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