TradingMarkets 7 ETFs You Need to Know for Wednesday

A very bullish day lead most market sectors higher on Tuesday, though energy, industrial and basic materials stocks were among the biggest gainers.

Here are 7 ETFs You Need to Know for Wednesday.

A rebound in crude oil prices helped drive the United States Oil Fund, USO
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higher by more than 9% on Tuesday.

Energy stocks were among the stronger equities on a very bullish Tuesday. The Select Energy Sector SPDRS, XLE
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gained more than 5% on the day, closing up for five out of the past six trading days.

Increasingly oversold above the 200-day moving average are the ProShares UltraShort Basic Materials ETF, SMN
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, which pulled back by more than 10% on Tuesday.

Telecommunications stocks yielded another strong day on Tuesday, with the Telecommunications HOLDRS, TTH
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, up more than 5% and making its highest closing high since late September. TTH also closed above its 50-day moving average for the first time since early September.

Again one of the most widely traded exchange-traded funds, the Select Financial Sector SPDRS, XLF
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, gained more than 4% on Tuesday. The fund, which trades below the 200-day moving average, has closed in increasingly overbought territory for five consecutive trading sessions.

After closing above its 200-day moving average for the first time since October 3rd yesterday, the Biotech HOLDRS, BBH
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, pulled back toward the 200-day moving average on Tuesday. Of the few stocks in the Nasdaq 100 that are trading above their 200-day moving averages, the clear majority are biotechnology stocks.

The most diversified biotechnology exchange-traded fund is the iShares Nasdaq Biotechnology Trust ETF, IBB
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. IBB pulled back on Tuesday after closing higher for four consecutive trading days.

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