TradingMarkets 7 ETFs You Need to Know for Wednesday

Financial and basic materials ETFs were both on the retreat late in trading on Tuesday, while emerging markets-related exchange-traded funds were pulling back aggressively. A number of ETFs continue to pull back from overbought extremes below the 200-day moving average while many inverse ETFs are rallying from oversold lows and making consecutive higher highs.

Here are 7 ETFs You Need to Know for Wednesday.

Up more than 5% intraday, the ProShares UltraShort Basic Materials ETF, SMN
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closed off their highs on Tuesday.

The Select Financial Sector SPDRS, XLF
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, have managed to stabilize their dramatic decline as of Tuesday. XLF is currently mildly oversold.

The India Fund, IFN
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, rallied from intraday lows of more than 4%, though the fund remained down on the day as it retreats from Friday’s overbought extremes.

Trading lower on the day for its third consecutive session, the Shares S&P Latin American 40 Index ETF, ILF
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was down more than 3% intraday before rallying late.

Off its intraday highs, the ProShares UltraShort S&P 500 exchange traded fund, SDS
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, is nevertheless up for a third session in a row and not yet exceptionally overbought.

Bouncing from Monday’s oversold extremes, the PowerShares DB US Dollar Bullish ETF, UUP
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still remains mildly oversold and within a few points of its 200-day moving average.

The iShares MSCI EAFE Index Trust, EFA
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, continue to pullback two days after reaching overbought extremes below the 200-day moving average.

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