TradingMarkets 7 ETFs You Need to Know for Wednesday
One day of overbought conditions below the 200-day moving average have been all that was required to bring out sellers in many long and leveraged long exchange-traded funds on Turnaround Tuesday. The trading led to many ETFs opening up above Monday’s levels, but reversing over the course of the trading day to finish lower.
Here are 7 ETFs You Need to Know for Wednesday.
Although higher on a close-to-close basis by more than 4% on Tuesday and still overbought, the Select Financial Sector SPDRS, XLF
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The iShares MSCI Emerging Markets Index ETF, EEM
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Basic materials stocks were on the retreat on Tuesday, as seen by the more than 5% loss in the Select Basic Materials Sector SPDRS, XLB
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Gaining more than 6% on the day, the ProShares UltraShort QQQ exchange-traded fund, QID
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Opening near its 200-day moving average, the Biotechnology HOLDRS, BBH
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And the downward trend in the United States Oil Fund, USO
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A strong start in the Select Retail Sector SPDRS, XRT
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