TradingMarkets 7 ETFs You Need to Know for Thursday

Pullbacks in country ETFs continued, with exchange-traded funds representing equity markets from Europe to Asia moving lower for a third consecutive session. Sector-wise, financial and industrial ETFs were pulling back, while technology and consumer cyclical/consumer discretionary ETFs advanced.

Here are 7 ETFs You Need to Know for Thursday.

In yesterday’s 7 ETFs You Need to Know for Today, we highlighted the iShares MSCI Brazil Index ETF, as among the more oversold country ETFs. As of late on Wednesday, the most oversold country ETF is actually the iShares MSCI Taiwan Index ETF
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, followed closely by the iShares MSCI Hong Kong Index ETF
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Reflective of the strength in technology stocks was the gain of more than 2% by the ProShares Ultra Semiconductor ETF
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on Wednesday.

Looking for overbought ETFs in the current market? The ProShares UltraShort Basic Materials ETF
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was up more than 1% on Wednesday, closing higher below the 200-day moving average for a third consecutive trading day. Bonds have also been on the upswing in recent days, creating overbought conditions below the 200-day for the iShares Barclays 20+ Year Treasury Bond ETF
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Among the more oversold ETFs in the market right now trading above their 200-day moving averages are commodity ETFs – especially energy-related ones. These include the PowerShares DB Oil Fund
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and the iPath S&P Goldman Sachs Crude Oil Trust Index ETN
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