TradingMarkets 7 ETFs You Need to Know for Tuesday
Financial and basic materials ETFs were higher on the first trading day of the week, as more and more exchange-traded funds representing a variety of sectors and markets around the world became increasingly overbought in the short term.
Here are 7 ETFs You Need to Know for Tuesday.
Driving deeper into overbought territory below the 200-day moving average, the Financial Select Sector SPDRS ETF
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Lower crude oil prices put pressure on energy ETFs like the Energy Select Sector SPDRS ETF
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PowerRating), which includes stocks like Exxon Mobil
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Noted analyst and money manager Marc Faber suggested on Monday that rising bank profits could help push the S&P 500 to 1,000 by the fall. The most widely traded exchange-traded fund for the S&P 500 is the S&P 500 SPDRS ETF
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PowerRating).
Short term ETF traders looking to take advantage of pullbacks in the S&P 500 on its way higher may consider leveraged ETFs such as the ProShares Ultra S&P 500 ETF
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Hedge stock or ETFs trades with inverse ETFs like the ProShares UltraShort Russell 2000 ETF
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PowerRating). TWM is built to return twice the inverse of the Russell 2000 Index on a daily basis.
A weaker dollar helped currency ETFs rally on Monday. The CurrencyShares Canadian Dollar Trust
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PowerRating) is back above its 10-day moving average after retreating to its 50-day moving average on Friday.
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