TradingMarkets 7 ETFs You Need to Know for Thursday
U.S market marched higher still on Wednesday, extending overbought conditions in most equity index ETFs. Closing at radically overbought levels for the fourth consecutive day were the ^SPY^ and the ^QQQQ^.
Financials were the biggest gainers on the day, with the ^UYG^ gain of over 2% representative of the group.
Here are 7 ETFs You Need to Know for Thursday.
Commodity-based exchange-traded funds are among those with the highest ETF PowerRatings going into trading on Thursday. Earning upgrades late in trading on Wednesday were the ^DJP^ and the ^GDX^.
Among top-rated leveraged ETF PowerRatings funds ahead of Thursday’s trading, the upgrade from 6 to 9 by the ^SSG^ was by far the most significant.
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Growing confidence on the economy has helped encourage selling in safer areas like those represented by ^XLP^, which pulled back to the edge of oversold territory late in trading on Wednesday.
The lowest rated ETF for Thursday? The ^EWG^ earned an ETF PowerRatings downgrade to 1 late in trading on Wednesday.
Also reflecting potential reversal in European-based exchange-traded funds were the downgrades in the ^EWP^ and the ^VGK^.