TradingMarkets 7 ETFs You Need to Know for Wednesday

Buyers were most assertive in the consumer cyclicals sector on Tuesday. Closing in overbought territory for six out of the past seven trading days was the ^XLY^, while the ^UCC^ gained more than 1%.

Equity index ETFs also returned to overbought territory during Tuesday’s trading. At new short term highs and closing in overbought territory for a third consecutive session was the ^IWM^.

Here are 7 ETFs You Need to Know for Wednesday.

Among those exchange-traded funds (ETFs) bringing top ETF PowerRatings into trading on Wednesday are the SPDR S&P Metals & Mining ETF ^XME^ and the ^PIN^. Both funds earned two-point ETF PowerRatings upgrades during trading on Tuesday.

Earning one of the largest PowerRatings upgrades of the day was the ^EWY^. EWY climbed from a 5 to a 8, leading a number of PowerRatings upgrades in country funds for south and far east Asia.

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Many of the gains in consumer cyclicals/consumer discretionary funds could be credited to strength in retail, as witnessed by the gains in the ^RTH^.

The most oversold ETF in our database? After the ^UUP^, which closed in oversold territory for a third straight session, the most oversold funds for Wednesday are oil funds like the ^OIL^ and the ^OIH^.

Gold ETFs continued to move lower on Tuesday, but exchange-traded funds like the ^GLD^ have yet to close in oversold territory above the 200-day moving average.

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