Sellers were most aggressive in technology shares, helping send the 8-rated ^XLK^ lower and back toward oversold territory on Monday. Equity index exchange-traded funds in general edged higher, but finished below their opening levels as in the case of the ^SPY^.
Around the globe, the ^RSX^, which earned an ETF PowerRating of 6 late in trading on Monday, is among the most oversold and highest rated.
Here are 7 ETFs You Need to Know for Tuesday
Among the top ETF PowerRatings funds going into Tuesdays trading are the ^IYZ^ and the ^XLP^. Both funds earned ETF PowerRatings upgrades from 8 to 9 late in trading on Monday.
Also among the top ETF PowerRatings funds for Tuesday is the ^IYW^, which was among the technology ETFs to pullback in Monday’s trading.
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The most oversold ETF in our database for Tuesday’s trading? Other than the IYZ mentioned above, the most oversold ETF award goes to the ^DJP^
Precious metals ETFs soared to start the week but, as with the equity index funds, reversed lower over the course of the day. The ^GLD^ outperformed both the ^SLV^ and the ^GDX^ of gold mining stocks.