TradingMarkets 7 ETFs You Need to Know for Tuesday
In the final hour of trading on Monday, leveraged inverse ETFs for the main market indexes bounced by 4% or more in many instances in response to increasingly oversold conditions. Many of these leveraged inverse ETFs only recently moved below their 200-day moving averages.Both inverse index and inverse sector ETFs – such as the financials exchange-traded fund – were higher on the day.
Emerging market ETFs were all pulling back on the first trading day of the week. Markets in Asia were particularly aggressive in their selling, though Brazil also
moved to new monthly lows.
Here are 7 ETFs You Need to Know for Tuesday.
Truly one of the most popular trading vehicles for ETF traders, the ProShares UltraShort Financials ETF, SKF
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PowerRating) was up more than 5% as financials rallied from recent, oversold lows.
Also rallying from oversold conditions below the 200-day moving average was the ProShares UltraShort QQQ, QID
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PowerRating), which was up by more than 4% intraday on Monday.
The ProShares UltraShort Oil & Gas exchange-traded fund, DUG
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The S&P Homebuilders Index SPDRs, XHB
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PowerRating), retreated after a trio of intraday tests of its 200-day moving average. The fund was down more than 4% on Monday.
Exchange-traded funds linked to Asian markets were lower on Monday, with the iShares Hong Kong Index ETF, EWH
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PowerRating), and the iShares Taiwan Index ETF, EWT
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PowerRating) both down more than 3% on the day.
Turning down after intraday crosses of its 200-day moving average, the Semiconductor HOLDRS Trust, SMH
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PowerRating) finally succumbed to the extremely overbought conditions that had characterized the fund nine days.
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