TradingMarkets 7 ETFs You Need to Know for Wednesday
Emerging markets exchange-traded funds were among Tuesday’s best performers, especially in Asia. Buyers also stepped in to buy financial stocks brought low by Monday’s sell-off, boosting financial sector ETFs and encouraging dramatic pull backs in inverse financial sector funds, which are increasingly oversold.
Here are 7 ETFs You Need to Know for Wednesday.
iShares Hong Kong Index ETF, EWH
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PowerRating), was up more than 3% on Tuesday, responding to yesterday’s extremely oversold conditions. The fund is trading below its 200-day moving average.
Crossing its 200-day moving average for the first time in more than a month, the ProShares UltraShort Russell 2000 exchange-traded fund, TWM
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nevertheless closed below that mark on Tuesday, losing more than 3% on the day.
Closing in the green for the fourth consecutive session, the Semiconductor HOLDRS, SMH
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PowerRating), has become increasingly overbought as it trades below its 200 day-moving average.
Up more than 4% during the day on Tuesday, the Select Financial Sector SPDRS, XLF
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PowerRating), continues to trade below its 5-day moving average. XLF has closed below its 5-day moving average for six consecutive sessions.
At the same time, the ProShares UltraShort Financial exchange-traded fund, SKF
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PowerRating), pulled back by more than 7% on Tuesday, closing above its 200-day moving average for the second day in a row.
The ProShares UltraShort Oil & Gas ETF, DUG
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PowerRating), lost more than 5% on the day, retreating from multi-month highs. Conversely, the Oil Service HOLDRS, OIH
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PowerRating) gained nearly 4% and still remains several points below its 200-day moving average.
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