TradingMarkets 7 ETFs You Need to Know for Tuesday
Buyers were most aggressive in the financial sector, helping the ^FAS^ rally by more than 3% on Monday. Most of the selling happened in the energy patch, with the ^XLE^ closing at new short term lows above the 200-day moving average.
Although off its highest levels of the day, the S&P 500 ended in the green, making it the fifth positive close for the ^SPY^.
Here are 7 ETFs You Need to Know for Tuesday
Continued overbought conditions means that no exchange-traded funds (ETFs) in our database have ETF PowerRatings of more than 6. This includes previously oversold ETFs like the ^EWS^ and the ^EWH^.
Meanwhile, pulling back from overbought territory above the 200-day moving average on Monday was the ^EWZ^, which is back in neutral territory ahead of Tuesday’s trading.
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The most overbought ETF in our database right now? Among those few ETFs trading below the 200-day that are increasingly overbought is the ^DUG^.
With sellers dominant in the energy sector, the ^IYE^ was off well over 1% on the day, but not yet back into oversold territory.
Among those ETFs that are oversold above the 200-day moving average, the ^GDX^ and the ^SLV^ both are trading in oversold territory near their 200-day moving averages.