TradingMarkets 7 ETFs You Need to Know for Wednesday
Buying was muted across the board, though markets for technology, energy and consumer staples advanced. The pullback in the utilities sector, exemplified by the drop in the ProShares Ultra Utilities ETF
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PowerRating), was among the few on a sector basis.
Country ETFs continued to be a mixed bag, with the iShares MSCI Taiwan Index Fund ETF
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PowerRating) up more than 1% while the iShares MSCI Malaysia Index Fund ETF
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PowerRating) closed again in oversold territory above the 200-day moving average.
Here are 7 ETFs You Need to Know for Wednesday.
Among the top ETF PowerRatings funds for Wednesday are the iShares MSCI Pacific ex-Japan Index Fund ETF
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PowerRating) and the iShares MSCI EAFE Small Cap Index Fund ETF
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PowerRating). SCZ earned an ETF PowerRating upgrade to 9 as a result of Tuesday’s trading, while EPP was upgraded to our highest ETF PowerRating of 10.
While the largest ETF PowerRating upgrade of the day was in the Utilities Select Sector SPDRS ETF
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PowerRating) on Tuesday, other ETFs, such as the Claymore/Delta Global Shipping Index Fund ETF
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Learn which are the two most important moving averages for short term ETF traders – click here!
While gains for precious metals remained muted, the United States Oil Fund ETF
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PowerRating) was up more than 1% on Tuesday, rallying from recent, short term oversold conditions above the 200-day moving average.
The most oversold exchange-traded fund in our database going into trading no Wednesday? That title is held by the iShares Hong Kong Index Fund ETF
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PowerRating), which earned an exceptionally low, 2-period RSI of 0.17 as of the close of trading on Tuesday.
Among those high-flying ETFs that have become exceptionally overbought above the 200-day moving average and may be due for a pullback, the S&P Homebuilder SPDRS ETF
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PowerRating) gained more than 2% in closing in overbought territory for a fifth consecutive trading day.