TradingMarkets 7 ETFs You Need to Know for Tuesday
Buyers pushed financials back into overbought territory, while profit-taking in technology has taken a number of technology ETFs sliding back toward oversold territory above the 200-day.
Here are 7 ETFs You Need to Know for Tuesday.
Closing at its highest levels since mid-June was the Direxion Financial Bull 3x Shares ETF
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PowerRating), which gained more than 2% intraday on Monday. Increasingly overbought below the 200-day was the ProShares Ultra Financials ETF
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PowerRating). UYG also added more than 2% on the day.
After closing higher for 12 out of the past 13 days, the ProShares Ultra Technology ETF
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PowerRating) finally pulled back by more than 1% on Monday. Continued selling will likely take the ETF into oversold territory above the 200-day. Skittering sideways on the day was the iShares Goldman Sachs Semiconductor ETF
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PowerRating), which closed for a second day in neutral territory after several days at overbought levels.
ETFs linked specifically to semiconductors, however, remained in high demand, with both the ProShares Ultra Semiconductor ETF
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PowerRating) and the Semiconductor HOLDRS ETF
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PowerRating) continuing to close positively for a fourth day in a row above the 200-day.
Although up on the day, the iShares Barclays TIPS ETF
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PowerRating) closed in oversold territory above the 200-day moving average on Monday.
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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