TradingMarkets 7 ETFs You Need to Know for Wednesday
Profit-taking in earnest finally arrived to the financials, which led the overall markets lower and helped create a sizable number of sector and equity index ETFs newly oversold above their 200-day moving averages. Meanwhile, commodity ETFs continued to slide.
Here are 7 ETFs You Need to Know for Wednesday.
Pulling back into oversold territory above the 200-day were financial ETFs like the ProShares Ultra Financials ETF
(
UYG |
Quote |
Chart |
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PowerRating) and the Financial Select Sector SPDR ETF
(
XLF |
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Chart |
News |
PowerRating).
Among the country ETFs newly entering oversold territory above the 200-day was the Market Vectors Russia ETF
(
RSX |
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PowerRating), which lost more than 3% intraday on Tuesday. Continuing to plunge lower was the India Fund
(
IFN |
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News |
PowerRating), down more than 4% on Tuesday after falling more than 3% on Monday. IFN is more oversold than it has been since early July.
Entering its third day in oversold conditions above the 200-day moving average are commodity ETFs like the Market Vectors Agribusiness ETF
(
MOO |
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Chart |
News |
PowerRating) and the DB Commodity Index Tracking ETF
(
DBC |
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Chart |
News |
PowerRating). Oddly, the PowerShares Agribusiness DB Agriculture ETF
(
DBA |
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Chart |
News |
PowerRating) was up on the day after closing lower for four days in a row.
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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