TradingMarkets 7 ETFs You Need to Know for Wednesday
The Nasdaq and Nasdaq-related exchange-traded funds, which had been exceptionally overbought, continued to be among those funds moving aggressively lower in the final hour of trading on Tuesday. International ETFs with exposure to Asian markets continued to slide to multi-month lows, oversold, but trading below their 200-day moving averages.
From a sector perspective, inverse financial ETFs were among the strongest performers, breaking out above recent highs, while transportation related ETFs pulled back toward oversold extremes. Materials and energy based funds were higher, dramatically so in many cases.
Here are 7 ETFs You Need to Know for Wednesday.
The ProShares Ultra QQQ exchange-traded fund, QLD
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PowerRating) continues to move lower in the wake of the overbought extremes we have mentioned over the past few days. Now it is the the leveraged inverse of the Nasdaq 100, the ProShares UltraShort QQQ ETF, QID
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PowerRating) that are increasingly overbought.
The iShares Dow Jones Transportation Average ETF, IYT
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The iShares Hong Kong Index exchange-traded fund, EWH
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PowerRating) was down another 3% in trading on Tuesday. The iShares FTSE/Xinhua 25 index, ETF, FXI
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Soaring nearly 6%, the ProShares UltraShort Financials ETF, SKF
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A pullback of nearly 5% drew the ProShares UltraShort Oil & Gas exchange-traded fund, DUG
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