TradingMarkets 7 ETFs You Need to Know for Tuesday
Buyers bid most sectors higher on Monday, with recently oversold energy ETFs like the ProShares Ultra Oil & Gas ETF
(
DIG |
Quote |
Chart |
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PowerRating) and commodity-based country ETFs like the iShares MSCI South Africa ETF
(
EZA |
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News |
PowerRating) among the stronger performers.
Here are 7 ETFs You Need to Know for Tuesday.
With the S&P 500 rallying above the 1,000 mark for the first time since November 2008, ETFs based on the index soared into overbought territory above the 200-day on Monday. Among the bigger percentage performers were leveraged ETFs like the ProShares Ultra S&P 500 ETF
(
SSO |
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Chart |
News |
PowerRating) and the Rydex 2x S&P 500 ETF
(
RSU |
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News |
PowerRating), both of which were up more than 3% intraday.
Up over 6%, the Direxion Daily Financial Bull 3x Shares
(
FAS |
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News |
PowerRating) rallied to its highest levels since December 2008 and is more overbought than at any time since its inception.
Continuing to benefit from its recent pullback into oversold territory above the 200-day, the iShares FTSE / Xinhua China 25 ETF
(
FXI |
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PowerRating) gained more than 3% on Monday.
Overbought conditions below the 200-day moving average caught up with a number of bond ETFs we have been following in 7 ETFs You Need to Know for Today. These include the iShares Barclays 7 – 10 Year Treasury ETF
(
IEF |
Quote |
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PowerRating).
The CurrencyShares Euro Trust
(
FXE |
Quote |
Chart |
News |
PowerRating) broke out to new year-to-date highs on Monday as greenback weakness continued. Plunging to its lowest levels since September 2008 was the PowerShares DB U.S. Dollar Index Bullish Fund
(
UUP |
Quote |
Chart |
News |
PowerRating).
Larry Connors will be conducting a 2 1/2 day High Probability ETF Trading Seminar beginning August 14. If you’d like to attend a free online presentation explaining the concepts of High Probability ETF Trading and introducing the 2 1/2 day Seminar coming in early August, please call 1-888-484-8220 ext. 1 or click here to register today.
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