TradingMarkets 7 ETFs You Need to Know for Wednesday
Selling was widespread, but perhaps nowhere were the pullbacks more intense than in the financial sector, with the Direxion Daily Financial Bear 3x Shares
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PowerRating) gaining more than 11% intraday. Around the globe, pullbacks in European country ETFs outpaced those from other markets.
Here are 7 ETFs You Need to Know for Wednesday.
Down well over 3% were a host of country ETFs representing European markets. The iShares MSCI Germany Index ETF
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PowerRating) and the iShares MSCI France Index ETF
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PowerRating) fell to their lowest levels in seven days.
Pulling back by more than 2% intraday was the S&P 500 SPDRS ETF, or S&P Depositary Receipts,
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PowerRating), breaking down below a short-term trading range.
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The selling in financial shares has helped the ProShares UltraShort Financial ETF
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PowerRating) rally to its most overbought levels below the 200-day moving average in more than a month.
Small cap shares came under heavy distribution on Tuesday, with the ProShares Ultra Russell 2000 ETF
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PowerRating) dropping by more than 4% intraday.
Renewed strength in the U.S. Dollar has brought out the sellers in both the Euro and the British pound. The CurrencyShares British Pound Sterling ETF
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PowerRating) reached a new 20-day low below its 50-day moving average intraday on Tuesday.
No relief for natural gas bulls, with the United States Natural Gas Fund
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PowerRating) closing lower for a third consecutive session below its 200-day moving average. The fund has been in a bear market since July 2008 and had traded below its 200-day moving average since later in that month.
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