TradingMarkets 7 ETFs You Need to Know for Tuesday
Top sectors on Monday included technology and health care. Monday also marked the appearance of two new exchange-traded products: exchange-traded notes (ETNs) on the CBOE Volatility Index or VIX. Be sure to visit TradingMarkets.com in the days and weeks to come for more information on this new vehicle for ETF (and ETN!) traders.
Here are 7 ETFs You Need to Know for Tuesday.
Buying in Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) and Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) on Monday helped boost the Technology Select Sector SPDRS ETF, XLK
(
XLK |
Quote |
Chart |
News |
PowerRating), as well as other technology exchange-traded funds such as the iShares Dow Jones U.S. Technology Index ETF, IYW
(
IYW |
Quote |
Chart |
News |
PowerRating).
Conversely, the ProShares UltraShort Technology ETF, REW
(
REW |
Quote |
Chart |
News |
PowerRating) pulled back after two days of strong gains.
Bristol-Myers
(
BMY |
Quote |
Chart |
News |
PowerRating) and United Health Group
(
UNH |
Quote |
Chart |
News |
PowerRating) were among the bright spots in a rising health care sector on Monday. The Health Care Select Sector SPDRS ETF, XLV
(
XLV |
Quote |
Chart |
News |
PowerRating). The ETF continues to trade above its 50-day moving average after breaking out above that level in late January.
The iShares Dow Jones Transportation Average ETF, IYT
(
IYT |
Quote |
Chart |
News |
PowerRating), slid below its November 2008 lows on Monday. Should the Dow industrials follow suit, then according to Dow theory, more downside for stocks could be likely in the intermediate term.
Debuting today are two new exchange-traded products, both of which track the CBOE Volatility Index or VIX. One is the iPath S&P 500 VIX Short-Term Futures ETN, VXX
(
VXX |
Quote |
Chart |
News |
PowerRating) and the other is the iPath S&P 500 VIX Mid-Term Futures ETN, VXZ
(
VXZ |
Quote |
Chart |
News |
PowerRating). Both are exchange-traded notes rather than exchange-traded funds, but otherwise can be bought and sold like ETFs.
According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to find out what traders are saying about Larry Connors’ and Cesar Alvarez’ new book, Short Term Trading Strategies That Work: A Quantified Guide to Trading Stocks and ETFs!