TradingMarkets 7 ETFs You Need to Know for Tuesday
Most sectors edged higher, digesting gains from the sizable rally on Thursday. Overbought conditions prevail in most ETF markets – both above and below the 200-day moving average
Here are 7 ETFs You Need to Know for Tuesday.
Moving higher again on Monday, the PowerShares QQQ Trust ETF
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PowerRating) climbed into increasingly overbought territory above the 200-day moving average. The rally makes the QQQQ all the more vulnerable to short-term pullbacks.
Conversely, the PowerShares UltraShort QQQ ETF
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PowerRating) closed lower for a fourth consecutive day, retreating from overbought conditions below the 200-day from a week ago.
The most impressive sector performance on Monday came from consumer discretionary stocks as shares from Ford Motor Company
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PowerRating) and Darden Restaurants
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PowerRating) were among those in greatest demand. The buying in this sector helped boost the Consumer Discretionary Select Sector SPDR ETF
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PowerRating) up by more than 1% intraday.
Up for a third day in a row and moving deeper into overbought territory below the 200-day moving average is the ProShares Ultra Financials ETF
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PowerRating). Rallying toward a challenge of its 200-day moving average and increasingly overbought is the Regional Bank HOLDRS
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PowerRating).
The rally in long-term government debt continued on Monday, as the iShares Barclays 20+ Year Bond ETF
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PowerRating) climbed into overbought territory below the 200-day moving average.
Pulling back sharply on Monday was the CurrencyShares Japanese Yen Trust ETF
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PowerRating), which tracks the value of the Japanese yen, rather than the price of the forex pair, USD/JPY.
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