TradingMarkets 7 ETFs You Need to Know for Tuesday
Short and leveraged short exchange-traded funds were among the day’s top performers with all major indexes in the red. Short ETFs that were based on small-cap stocks as well as blue chips in the S&P 500 were up by more than 3% – or even 4% in some cases.
Financial stocks again provided a target for traders as ETFs oriented to financial stocks – including homebuilders – struggled on Monday.
Here are 7 ETFs You Need to Know for Tuesday
The ProShares UltraShort Semiconductor ETF, SSG
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PowerRating), continued its advance toward its 200-day moving average on Monday, gaining more than 3% on the day.
After rallying for three days and becoming increasingly overbought below the 200-day moving average, the Select Financial Sector SPDRs, XLF
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Also gaining more than 3% on the day was the ProShares UltraShort S&P 500 exchange-traded fund, SDS
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PowerRating). SDS was up after being down for three days in a row. Down only one day out of the past six yesterday, the ProShares UltraShort Russell 2000 ETF, TWM
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PowerRating) gained more than 4% intraday on Monday.
The less widely-traded iShares Korea Index Fund, EWY
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After three days of increasingly extreme overbought conditions, the Select Utilities Sector SPDRS, XLU
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PowerRating) are now in their second day of retreat and down more than 1% on the day.
The iShares S&P Small Cap 600 600 Fund, IJR
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PowerRating), pulled back approximately 2% to test its 200-day moving average. IJR broke out beyond its 200-day moving average in the first half of August.
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