TradingMarkets 7 ETFs You Need to Know for Wednesday
Equity index exchange-traded funds (ETFs) continued to pull back on Tuesday, creating new oversold markets above the 200-day. Around the globe, selling in Brazil was especially aggressive while from a sector perspective, materials ETFs were among the leaders to the downside.
Here are 7 ETFs You Need to Know for Wednesday.
Small cap stocks such as those in the Russell 2000 Index were among those most aggressively sold on Tuesday. Down by more than 1% and into oversold territory above the 200-day moving average was the iShares Russell 2000 Index Fund ETF
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Dropping over 3% and into oversold territory was the iShares MSCI Brazil Index ETF
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PowerRating). EWZ, which rallied from far sharper intraday lows, had not closed below its 5-day moving average since October 1.
Closing in oversold territory for two out of the past three days was the ProShares Ultra Financials ETF
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PowerRating). UYG is leveraged two-to-one to the daily performance of the Dow Jones U.S. Financials Index of stocks including Wells Fargo
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The iShares Nasdaq Biotechnology ETF
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PowerRating) dropped to its lowest levels since the beginning of the month on Tuesday, shedding more than 2%.
Off for a third consecutive session and down into oversold territory above the 200-day moving average was the SPDR Homebuilders ETF
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PowerRating). Sellers stepped up pressure in the sector in the wake of disappointing home starts data.
Precious metals ETFs sold off after a two-day rally. For one, the iShares Silver Trust ETF
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UUP |
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PowerRating).