TradingMarkets 7 ETFs You Need to Know for Wednesday
Junk bond ETFs joined the broader pull back in bond ETFs as traders rotate out of high yield debt and into equity. Sector-wise, financials, consumer discretionary and industrial ETFs remained in high demand. Around the globe, pullbacks in Asia country ETFs may represent opportunities for short term traders should weakness above the 200-day moving average continue over the next few days.
Here are 7 ETFs You Need to Know for Wednesday.
Joining the pullback in bond ETFs, both the SPDR Barclays Capital High Yield Bond ETF
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JNK |
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PowerRating) and the iShares iBoxx High Yield Corporate Bond ETF
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HYG |
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PowerRating) slid closer toward oversold territory above their respective 200-day moving averages in trading on Tuesday. The pullbacks join those in government bonds noted this week in TradingMarkets 7 ETFs You Need to Know.
Down more than 2% intraday, the iShares MSCI Taiwan Index ETF
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EWT |
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PowerRating) slipped into oversold territory above its 200-day on Tuesday. Also beginning to pullback above the 200-day was the iShares MSCI Singapore Index ETF
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EWS |
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PowerRating), down over 1% on the day.
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Among the most oversold of the widely-traded ETFs, the ProShares UltraShort Financials ETF
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SKF |
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PowerRating) fell by more than 4% on Tuesday, dropping to new lows. Conversely, the ProShares Ultra Financials ETF
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UYG |
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PowerRating) is increasingly overbought above its 200-day moving average and overdue for a correction. UYG gained more than 4% intraday.
Health care ETFs remain among those sector ETFs that are closest to oversold territory above the 200-day moving average. ETFs to watch for continued pullback include Vanguard Healthcare ETF
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VHT |
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PowerRating).
Larry Connors will be conducting a 2 1/2 day High Probability ETF Trading Seminar beginning August 14. If you’d like to attend a free online presentation explaining the concepts of High Probability ETF Trading and introducing the 2 1/2 day Seminar coming in early August, please call 1-888-484-8220 ext. 1 or click here to register today.
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