TradingMarkets 7 ETFs You Need to Know for Wednesday
Financial and technology ETFs were among those most sought after by traders and investors after the previous day’s sell-off put many sector and country ETFs on sale. Profit-taking toward the end of the session however helped stem early gains and avoid overbought conditions in many ETFs.
Here are 7 ETFs You Need to Know for Wednesday.
Financial stocks once again provided leadership to the upside, resulting in higher levels for financial ETFs like the iShares Dow Jones U.S. Financial Sector ETF
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PowerRating). IYF includes among its holdings both Goldman Sachs
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PowerRating) and Wells Fargo
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PowerRating), which were up more than 5% and 7% respectively late on Tuesday.
Led by stocks like Microsoft
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PowerRating), IBM
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PowerRating), the Nasdaq 100 advanced on Tuesday, meaning a reversal for the ProShares UltraShort QQQ ETF
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PowerRating) which reached overbought levels below the 200-day moving average on Monday’s close. QID was down more than 3% late in the day.
For its part, the PowerShares Nasdaq QQQ ETF
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PowerRating) was up more than 2% late in trading, but pulled back from its highs to finish barely above 1%.
Emerging markets stocks were moving higher toward overbought territory below the 200-day moving average on Tuesday, with the iShares FTSE/Xinhua China 25 ETF
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PowerRating) and the iShares MSCI Brazil Index ETF
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PowerRating), leading the way early, though fading late in the day.
The iShares Barclays TIPS Bond ETF
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PowerRating) closed lower for a third consecutive trading session above the 200-day moving average on Tuesday and is now oversold based on its low 2-period RSI.
Rebounding from oversold extremes below the 200-day moving average, the ProShares Ultra Oil & Gas ETF
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DIG |
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PowerRating) was up more than 3% late in trading on Tuesday, but reversed late to finish up less than half as much.
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