TradingMarkets 7 ETFs You Need to Know for Wednesday
ETFs representing South Africa and Germany were among those pulling back most aggressively on Tuesday. Meanwhile, sellers were dominant in energy ETFs, many of which only recently crossed above their 200-day moving averages.
Here are 7 ETFs You Need to Know for Wednesday.
Shares of the iShares MSCI Germany Index ETF
(
EWG |
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PowerRating) closed in oversold territory above the 200-day moving average after three consecutive higher closes. Down more than 2% on the day and also entering oversold territory above the 200-day was the iShares MSCI South Africa Index ETF
(
EZA |
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Chart |
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PowerRating).
Trading in an increasingly narrow range in overbought territory above the 200-day moving average are a number of ETFs with exposure to the Nasdaq 100. These include the PowerShares QQQ Trust ETF
(
QQQQ |
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PowerRating) and the ProShares Ultra QQQ ETF
(
QLD |
Quote |
Chart |
News |
PowerRating).
Commodity-related ETFs such as the SPDR Gold Trust ETF
(
GLD |
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Chart |
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PowerRating) and the Oil Service HOLDRS ETF
(
OIH |
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News |
PowerRating) continued to pull back above their 200-day moving averages. GLD was down more than 2% and OIH down more than 3% before buyers returned to both ETFs to bid them off their lowest levels of the day.
Closing for a second day below the 200-day with a 2-period RSI of more than 90, the SPDR KBW Regional Banking ETF
(
KRE |
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PowerRating) is among the most overbought ETFs as of Tuesday’s close.
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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