Overbought conditions continued to characterize most equity index exchange-traded fund (ETF) markets at midweek. The ^DIA^ finally joined the ^SPY^ and ^QQQQ^ in overbought territory above the 200-day moving average.
Here are 7 ETFs You Need to Know for Thursday.
Buyers at midweek were especially aggressive in the materials and commodities areas. Up by well over 1% on Wednesday was the ^UYM^.
Closing in extreme oversold territory for a second day in a row was the 2x leveraged ^DZZ^. DZZ was down another 1% on Wednesday.
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Among the few top country funds earning ETF PowerRatings of 8 or higher ahead of trading on Thursday is the ^ECH^.
Two country ETFs are exceptionally overbought above their 200-day moving averages and are increasingly due for a pullback. These funds are the ^EWJ^ and the ^EWW^. EWW has closed in overbought territory for three days in a row. EWJ completed its fifth straight session in overbought territory on Wednesday.
The most oversold exchange-traded fund in our database? The ^UUP^ is by far the most oversold.
After four days of lower closes, the ^FAZ^ finally penetrated extreme oversold territory late in trading on Wednesday.