TradingMarkets 7 ETFs You Need to Know for Wednesday
Oversold extremes again led to massive buying across all sectors on Tuesday, leaving only the bond exchange-traded funds among those most oversold ahead of trading on Wednesday. A number of country funds, such as the ^EWT^, that had earned top ETF PowerRatings going into Tuesday’s trading made significant gains on the day.
From a sector perspective, buyers were most aggressive in Materials and and Energies. Up more than 4% and crossing back above the 200-day moving average on Tuesday was the ^DIG^, while the ^UYM^ soared by more than 6%.
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Here are 7 ETFs You Need to Know for Wednesday.
Among the exchange-traded funds (ETFs) taking their top ETF PowerRatings into trading on Wednesday are the ^TUR^ and the ^ECH^. Both of these country ETFs earned ETF PowerRatings of 9 late in the trading day on Tuesday.
A variety of equity index ETFs rallied to close above their 5-day moving averages after closing below that level for the past three days. Included in this group is the ^SPY^ and the ^DIA^.
Top rated ETFs making big gains on Tuesday included the ^EWY^. The EWY began the day with an ETF PowerRating of 10 and gained well over 2% in trading on Tuesday.
ETFs like ^SDS^ that had become increasingly overbought below the 200-day moving average sold off for the second day out of the past three.
The most oversold ETF in our database? After Tuesday’s powerful rally, bond ETFs like the ^TIP^ are among the funds high probability traders looking for potential trading opportunities may need to focus on for the next few days.
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