TradingMarkets 7 ETFs You Need to Know for Tuesday
Financials continued to slide on Friday, as traders lightened up in advance of the three-day holiday weekend and the House passage of a final version of the President’s stimulus package.
Here are 7 ETFs You Need to Know for Tuesday.
Buyers continued to be wary of financial stocks, allowing the Financial Select Sector SDPRS ETF
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XLF |
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PowerRating) to remain oversold below the 200-day moving average.
Having been on the retreat for the past several days, energy shares continued to make their modest comeback on Friday. Energy ETFs like the Energy Select Sector SPDRS ETF
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XLE |
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PowerRating) and the ProShares Ultra Oil & Gas ETF
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DIG |
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PowerRating) were both higher on the day.
Still oversold below the 200-day moving average is the SPDR Trust Series 1 ETF
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SPY |
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PowerRating). Two oil companies, Exxon Mobil
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XOM |
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PowerRating) and Chevron Corporation
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CVX |
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PowerRating), are among the top ten largest holdings in the fund which tracks the S&P 500 Index.
Hedge your S&P 500 investments and trades through short or inverse ETFs like the Rydex Inverse 2x S&P 500 ETF
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RSW |
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PowerRating) or the ProShares UltraShort S&P 500 ETF
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SDS |
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PowerRating). Both RSW and SDS are leveraged two-to-one to the inverse of the S&P 500.
Gapping down and closing lower for a third consecutive session was the Rydex CurrencyShares Japanese Yen Trust ETF
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FXY |
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PowerRating). FXY is increasingly overbought above the 200-day moving average.
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