TradingMarkets 7 ETFs You Need to Know for Wednesday
Semiconductors are among the most oversold sectors as of Tuesday’s close, with a number of chip ETFs earning top ETF PowerRatings on the day. ETFs based on India remain the most oversold among country ETFs and small cap-based funds bounced after reaching oversold extremes in recent days. Top ETF PowerRatings funds include XSD, PFF, EWO.
Here are 7 ETFs You Need to Know for Wednesday.
Weighing down the Nasdaq was selling in semiconductors. Typical of the pullbacks in this sector were the declines in the Semiconductor HOLDRS ETF
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PowerRating) and the ProShares Ultra Semiconductor ETF
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PowerRating). SMH closed in oversold territory above the 200-day moving average for a third day in a row, losing more than 1% on Tuesday. USD was off as much as 3%.
Corporate bond ETFs also remained on the retreat on Tuesday. The iShares iBoxx Investment Grade Corporate Bond ETF
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PowerRating) pulled back for a second day, closing in oversold territory. Meanwhile, it was the second consecutive close in oversold territory for the SPDR Barclays High Yield Bond ETF
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PowerRating).
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Among yesterday’s top ETF PowerRatings funds was the iShares S&P Small Cap 600/Barra Value Index Fund ETF
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PowerRating). The fund rallied by more than 1% after closing lower for five out of the past six trading days.
Precious metals ETFs were on the move higher again on Tuesday with the iShares Silver Trust ETF
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PowerRating) up more than 5%.
A number of India-related ETFs continue to trade in oversold territory above the 200-day moving average. Although closing higher on an open-to-close basis, the iPath MSCI India Index ETN
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PowerRating) lost nearly 2% on the day.