TradingMarkets 7 ETFs You Need to Know for Wednesday
With the exception of Taiwan’s iShares
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EWT |
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PowerRating) and Mexico’s
(
EWW |
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PowerRating), both of which pulled back, most country exchange-traded funds edged higher on Tuesday. From a sector perspective, buyers were aggressive in both technology and basic materials.
Here are 7 ETFs You Need to Know for Wednesday.
Buyers sent the Semiconductor HOLDRs
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SMH |
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PowerRating) higher by more than 4% on Tuesday. Leveraged 2-to-1, theProShares Ultra Semiconductor ETF
(
USD |
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PowerRating) soared by more than 9%. Both ETFs are trading above their 200-day moving averages.
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The Dow Diamonds ETF
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DIA |
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PowerRating) continues to trade in a narrow two-point range just above its 200-day moving average. DIA broke out above its 200-day back on the first of June.
A number of country ETFs representing the so-called BRIC nations of Brazil, Russia, India and China are also trading in narrow, short-term ranges as of Tuesday. This includes both the iShares FTSE/Xinhua China 25 ETF
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FXI |
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PowerRating) and the Market Vectors Russia ETF
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RSX |
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PowerRating).
After rallying above its 200-day on Friday and failing, the Financial Select Sector SPDRS ETF
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XLF |
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PowerRating) made another go of it on Tuesday, moving up above the long-term moving average early in the trading day.
Oversold conditions have begun to lure buyers back toward bond ETFs, with funds like the iShares iBoxx Investment Grade Corporate Bond ETF
(
LQD |
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PowerRating) rallying to cross its 5-day moving average intraday after closing down for three consecutive trading days.
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