TradingMarkets 7 ETFs You Need to Know for Tuesday
Leading the way higher on Monday among the Big Three equity index ETFs was the PowerShares QQQ Trust ETF
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PowerRating), which entered its third day of overbought conditions above the 200-day moving average.
Sectorwise, buyers were especially aggressive in energy, industrial and materials shares, helping boost exchange-traded funds like the Materials Select Sector SPDRS ETF
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PowerRating), the ProShares Ultra Oil & Gas ETF
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PowerRating) and the iShares Dow Jones U.S. Industrial ETF
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PowerRating).
Here are 7 ETFs You Need to Know for Tuesday.
Two of the top ETF PowerRatings funds going into trading on Tuesday are country funds like the iShares FTSE/Xinhua China 25 ETF
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PowerRating) and sector funds like the Regional Bank HOLDRS ETF
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PowerRating). Both ETFs are among the few top rated funds for Tuesday given the continued buying pressure on the markets overall.
Click here to learn how to trade exchange-traded funds using ETF PowerRatings.
Exxon-Mobil’s acquisition of XTO Energy spurred buying in the energy sector on Monday. This meant lower prices and oversold conditions for the ProShares UltraShort Oil & Gas ETF
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PowerRating), which lost just under 1% on the day.
Rallying from short-term oversold conditions above the 200-day moving average on Monday was the India Fund
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PowerRating). IFN had closed lower for four out of the past five trading days going into Monday’s trading.
An exchange-traded fund that is both widely watched and heavily traded by professionals, the ProShares Ultra Financials ETF
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PowerRating) gained over 1% on Monday, closing for a second consecutive session in overbought territory above the 200-day moving average.
Which are the two most important moving averages for high probability ETF traders? Click here to find out which ones they are – and why!
The most oversold ETF in our database for Tuesday? The iPath S&P Goldman Sachs Crude Oil Trust Index ETN
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PowerRating) is by far the most oversold fund trading above its 200-day moving average.
After six days in oversold territory above the 200-day moving average, the iShares Silver Trust ETF
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PowerRating) advanced into neutral territory on Monday, but failed to close above its short-term, 5-day moving average.