TradingMarkets 7 ETFs You Need to Know for Wednesday

Equity index exchange-traded funds (ETFs) such as the Dow DIAMONDS ETF
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and the iShares Russell 2000 Index ETF
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fought off early selling to close near breakeven levels. These ETFs are expected to open in overbought territory above the 200-day moving average on Wednesday.

Among the country ETFs, the iShares MSCI Brazil Index ETF
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was a major gainer on Tuesday, while ETFs linked to India such as the WisdomTree India Earnings ETF
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pulled back toward neutral territory above the 200-day.

Here are 7 ETFs You Need to Know for Wednesday.

Semiconductors continue to be one of the most loved – and overbought – sectors in the ETF market. The ProShares Ultra Semiconductor ETF
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has closed up for the day on eight out of the past trading days and has not closed below its 5-day moving average since November 4th.

With an ETF PowerRating of 7, the Regional Bank HOLDRS ETF
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is among the highest rated exchange-traded funds going into trading on Wednesday. Our highest ETF PowerRatings funds have made significant short term gains nearly 80% of the time. Click here to learn more.

Among the few oversold exchange-traded funds trading above the 200-day is the Retail HOLDRS ETF
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, which pulled back by more than 1% late in trading on Tuesday.

Increasingly overbought below the 200-day moving average are bond ETFs like the iShares Barclays 20+ Year Treasury Bond Fund ETF
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, which has closed higher for four consecutive trading days.

The most oversold ETF in our database? Below the 200-day moving average it is the ProShares UltraShort Basic Materials ETF
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, which has closed in extremely oversold territory for the past two days in a row.

Among equity index ETFs, the Nasdaq 100 is the source of the most oversold exchange-traded funds. Both the ProShares Short QQQ ETF
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and the ProShares UltraShort QQQ ETF
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have dropped to exceptionally oversold levels below their respective 200-day moving averages.

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