TradingMarkets 7 ETFs You Need to Know for Tuesday
Selling was most pronounced in the energy and technology sectors on Monday. But a late recovery helped thwart efforts by many ETFs to move lower into oversold territory.
Here are 7 ETFs You Need to Know for Tuesday.
A large number of equity index ETFs pulled back into oversold territory above their 200-day moving averages on Monday before rallying late. These included the S&P 500 SPDRS ETF
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PowerRating) which slid more than 1% before buyers bid the ETF into a positive close.
Among the more extremely oversold country ETFs as a result of recent profit-taking is the iShares MSCI Taiwan Index ETF
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The Energy Select Sector SPDRS ETF
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Leveraged ETFs like the ProShares Ultra Consumer Services ETF
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Sellers were especially aggressive in the technology sector, paving the way for a pullback in the ProShares Ultra Technology ETF
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PowerRating) which was down more than 3% intraday on Monday and turned to close down barely 0.5%.
Gains in the dollar have pushed currencies like the yen and euro lower in recent days. ETF traders and investors looking to add both bullish and bearish dollar exposure to their portfolios can use either of the pair of ETFs, the PowerShares DB U.S. Dollar Index Bullish ETF
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PowerRating) or the PowerShares DB U.S. Dollar Index Bearish ETF
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PowerRating). If you have a hard time remembering which is which, then remember than the bullish ETF ends in “up” and the bearish ETF ends in “dn” (down).
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