TradingMarkets 7 ETFs You Need to Know for Tuesday
Unlike last Monday, traders were in a selling mood to start this week, increasing oversold conditions in country ETFs and taking a number of sector ETFs into oversold territory once again. Health care ETFs, which had been among the more oversold going into the weekend, were among those rebounding.
Here are 7 ETFs You Need to Know for Tuesday.
Sellers remained persistent if not powerful in the technology sector, causing both the ProShares Ultra QQQ ETF
(
QLD |
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PowerRating) and the Semiconductor HOLDRS ETF
(
SMH |
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PowerRating) to close lower for a fourth trading day in a row.
Also moving into fourth consecutive down days above the 200-day moving average were country ETFs like the iShares MSCI France Index ETF
(
EWQ |
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PowerRating). Meanwhile, plunging more than 6% intraday and re-entering oversold territory above the 200-day was the India Fund
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IFN |
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PowerRating).
The Euro continued to lose ground to the U.S. dollar, as reflected by the third consecutive lower close in the CurrencyShares Euro Trust ETF
(
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PowerRating). The ETF reached a new, 20-day high a week ago, but has sold off aggressively since then.
Continued selling in basic materials stocks has helped push the ProShares Ultra Basic Materials ETF
(
SMN |
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PowerRating) into overbought territory below the 200-day moving average.
Rallying from oversold conditions late last week, health care ETFs like the Health Care Select Sector SPDR ETF
(
XLV |
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PowerRating) were representative of the one sector that was attracting buyers on Monday.
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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