TradingMarkets 7 ETFs You Need to Know for Wednesday
Exchange-traded funds such as the iShares Russell 2000 ETF
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PowerRating) representing indices of smaller cap stocks fared better on Tuesday than did blue chip ETFs, many of which lost more than 1% to close in oversold territory.
Sectorwise, energy funds were among those most aggressively sold on Tuesday, pushing exchange-traded funds like Energy Select Sector SPDRS ETF
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PowerRating) lower by about 2% and deeper into oversold territory above the 200-day moving average. The ProShares Ultra Oil & Gas ETF
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PowerRating) noted in yesterday’s 7 ETFs You Need to Know, dropped by just under 4%.
Here are 7 ETFs You Need to Know for Wednesday
Country funds representing Australia and South Africa are among our highest ETF PowerRatings funds going into trading on Wednesday. The iShares MSCI Australia Index Fund ETF
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PowerRating) pulled back by more than 2% on Tuesday, closing in oversold territory for three days in a row. The same is true for the iShares MSCI South Africa Index Fund ETF
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PowerRating), which closed lower for a fourth consecutive trading session Tuesday afternoon in losing more than 1%..
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Among the largest ETF PowerRatings upgrades were two in country ETFs. The iShares MSCI EMU Index Fund ETF
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PowerRating) was upgraded from a 5 to a 9, while the Vanguard European ETF
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PowerRating), which earned an upgrade from 6 to 9.
Rallying into overbought territory below the 200-day moving average were inverse leveraged ETFs like the ProShares UltraShort Semiconductor ETF
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PowerRating) and the ProShares UltraShort Financial ETF
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PowerRating) both which bounded higher by more than 1%.
Gold mining shares remained under exceptional selling pressure on Tuesday, with the Market Vectors Gold Miners ETF
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PowerRating) pulling back by more than 4% on Tuesday and closing lower for the third out of the past four trading days.