TradingMarkets 7 ETFs You Need to Know for Wednesday

Virtually all sectors save for financials gained on Tuesday as stocks responded to the increasingly oversold conditions in the marketplace.

Here are 7 ETFs You Need to Know for Wednesday

Among the leaders to the upside were healthcare stocks, with Merck & Company
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and Schering-Plough
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leading the group. Both stocks are components in the Health Care Select Sector SPDRS ETF, XLV
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Also moving higher on Tuesday was the technology sector, characterized by the outperformance of the Technology Select Sector SPDRS ETF, XLK
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, which includes two of Tuesday’s better performing stocks, Hewlett Packard
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and Automatic Data Processing
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.

Up for a second day in a row were many emerging markets ETFs such as the iShares MSCI Brazil Index Fund ETF, EWZ
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, the India Fund
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and the iShares MSCI Japan Index Fund ETF, EWJ
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. Another up day will likely drive all three ETFs into overbought territory below the 200-day moving average.

Short/inverse ETFs were on the retreat on Tuesday, with the ProShares UltraShort Consumer Services ETF, SCC
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, pulling back by more than 5%. The Rydex Inverse 2x Inverse S&P 500 ETF, RSW
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was down more than 3%.

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