TradingMarkets 7 ETFs You Need to Know for Thursday

Banks and financial ETFs were higher while energy and industrial funds were lower on a day during which stocks were able to rally from intraday lows to end the day near Tuesday’s levels in the S&P 500 and Dow 30. The same held true for emerging markets ETFs, which tended to find buyers as their prices moved lower earlier in the session.

Here are 7 ETFs You Need to Know for Thursday.

Up by more than 5% on Wednesday, the KBW Bank Index ETF, KBE
(
KBE |
Quote |
Chart |
News |
PowerRating)
, is one of the few clearly overbought ETFs trading below its 200-day moving average.

The Oil Service HOLDRS, OIH
(
OIH |
Quote |
Chart |
News |
PowerRating)
, ended the day Wednesday down by more than 4%, but significantly off their intraday lows. OIH is both under its 200-day moving average, as well as being oversold.

Down big for the second day in three, the ProShares Ultra QQQ ETF, QLD
(
QLD |
Quote |
Chart |
News |
PowerRating)
, lost more than 3% on Wednesday.

The ProShares UltraShort Russell 2000 exchange-traded fund, TWM
(
TWM |
Quote |
Chart |
News |
PowerRating)
, continued to test its 200-day moving average for resistance, gaining more than 4% on the day, but off its intraday highs.

Below its 200-day moving average and closing for the eighth day in a row, the Select Industrial Sector SPDRS, XLI
(
XLI |
Quote |
Chart |
News |
PowerRating)
, were down more than 3% late in trading on Wednesday. XLI is significantly oversold. The Select Basic Materials Sector SPDRS, XLB
(
XLB |
Quote |
Chart |
News |
PowerRating)
, lost more than 2%.

Up for a second day in a row, the Market Vectors Global Alternative Energy Index exchange-traded fund, GEX
(
GEX |
Quote |
Chart |
News |
PowerRating)
, still closed beneath its 5-day moving average for a fourth consecutive session. GEX is below its 200-day moving average.

Does your stock trading need a tune-up? Our highest Short Term PowerRatings stocks have outperformed the average stock by a margin of nearly 17 to 1 after five days.

Click here to start your free, 7-day trial to our Short Term PowerRatings!

Whether you have a trading strategy of your own that could use a boost or are looking for a way to tell the stocks that will move higher in the short term from the stocks that are more likely to disappoint, our Short Term PowerRatings are based on more than a decade of quantified, backtested simulated stock trades involving millions of stocks between 1995 and 2007. Click the link above or call us at 888-484-8220, extension 1, and start your free trial today.