TradingMarkets 7 ETFs You Need to Know for Tuesday

Sectors across the board – but especially financials – rallied on news of the government’s program to remove so-called “toxic assets” from bank balance sheets. A number of country funds ,such as those linked to Brazilian and Chinese stock markets, were strongly higher on the day.

Here are 7 ETFs You Need to Know for Tuesday.

The SPDRS S&P 500 Trust ETF
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rallied by more than 5% after two days of profit-taking. The bounce returns the SPY to overbought conditions below the 200-day moving average.

Leading the markets higher were the financials, with shares of Goldman Sachs
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up more than 10% and Morgan Stanley
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gaining more than 15%. This meant higher prices for the ProShares Ultra Financials ETF,
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, which was up more than 20% intraday and increasingly overbought below the 200-day moving average.

Conversely, the ProShares UltraShort Financials ETF
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is currently trading at its lowest levels since early January, and is again below its 200-day moving average.

Closing at its highest levels since mid-December 2008, the iShares MSCI Taiwan Index ETF
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gained more than 7% late in trading on Monday. The fund is again trading at overbought extremes below the 200-day moving average.

With crude oil moving higher for a second consecutive session, energy ETFs were attracting buyers on Monday. Among the more widely-traded energy ETFs advancing on the day were Energy Select Sector SPDRS ETF
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, which was up more than 7% intraday.

For ETF traders more interested in tracking the actual price of crude oil rather than the share prices of oil companies may want to consider commodity ETFs and ETNs like the PowerShares DB Crude Oil Double Long ETN
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. DXO provides short term ETF traders with a 2-to-1 leveraged exposure to the price of crude oil.

Soaring to its highest levels since mid-February, the Direxion Developed Markets Bull 3x Shares ETF
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is built to return three times the daily performance of the MSCI EAFE Index of international stocks. DZK’s heaviest weighting is in European shares (not including the United Kingdom) which make up more than 45% of the ETF’s holdings.