TradingMarkets 7 ETFs You Need to Know for Tuesday

Country and regional exchange-traded funds (ETFs) dominate our top ETF PowerRatings funds to begin the holiday-shortened week. This includes funds representing Asian nation such as the iShares MSCI Pacific ex-Japan Index Fund ETF
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, as well as countries in Europe (see the iShares S&P Europe 350 Index Fund ETF
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).

Equity index ETFs like the S&P 500 SPDRS ETF
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– which paid dividends on Friday and diverged from their underlying indexes which were not oversold – were up on the day, although finishing off their higher levels.

Here are 7 ETFs You Need to Know for Tuesday.

Among the top ETF PowerRatings funds going into trading on Tuesday are country ETFs like the iShares MSCI South Africa Index Fund ETF
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and sector funds like the Claymore/Delta Global Shipping Index Fund ETF
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. The EZA plunged by more than 2% on Monday, while the SEA rallied from short term oversold conditions.

Closing higher for a second consecutive session, the PowerShares QQQ Trust ETF
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continued to move higher on Monday, gaining approximately 1%.

Click here to learn which are the two most important moving averages for ETF PowerRatings traders.

The ETF PowerRating upgrade in the iShares MSCI Japan Index Fund ETF
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was among the greatest on Monday. EWJ has been rangebound for the most part going back to the early part of December.

The most oversold ETFs in our database for Tuesday? After the Hong Kong ETF, which we mentioned in our last 7 ETFs You Need to Know, the iShares FTSE/Xinhua China 25 ETF
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had a 2-period RSI of less than 1 and closing lower for a fifth consecutive trading day.

Also among the more oversold exchange-traded funds is the CurrencyShares Euro Trust ETF
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, which had traded largely sideways over the past few sessions with a 2-period RSI of less than 2 for the past three days.

Precious metals ETFs continued to pull back on Monday, with the SPDR Gold Trust ETF
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dropping by well over 1%.

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