TradingMarkets 7 ETFs You Need to Know for Wednesday
An overwhelmingly bullish mood lifted stock ETFs across the board on Tuesday. Financial stocks were special beneficiaries of the 300+ day in the Dow industrials, driving both leveraged and unleveraged financial sector ETFs higher. Energy exchange-traded funds were unique among the sector losers on Tuesday. China was higher, while emerging markets ETFs were quieter and less volatile.
Here are 7 ETFs You Need to Know for Wednesday
Among the most impressive performances on Tuesday was the gain of more than 6% in the Proshares Ultra QQQ, QLD
(
QLD |
Quote |
Chart |
News |
PowerRating), which closed on Tuesday at its highest level since July 1.
Down more than 8% on the day, the Proshares Ultrashort Financials, SKF
(
SKF |
Quote |
Chart |
News |
PowerRating), retreated to its 200-day moving average in trading on Tuesday. Tuesday’s close marked the lowest close in the exchange-traded fund since early June.
The United States Oil Fund LP, USO
(
USO |
Quote |
Chart |
News |
PowerRating), continued to pull back on Tuesday, falling to levels not seen since early May.
The iShares Dow Jones U.S. Real Estate Index exchange-traded fund, IYR
(
IYR |
Quote |
Chart |
News |
PowerRating), moved higher along with other financially-oriented ETFs, gaining more than 4% on the day and swiftly approaching its 200-day moving average from below.
A steep pullback was the story for the Proshares Ultra Short S&P 500, SDS
(
SDS |
Quote |
Chart |
News |
PowerRating), on Tuesday, as the ETF pulled back more than 6% to test the July lows.
The SPDR Gold Trust, GLD
(
GLD |
Quote |
Chart |
News |
PowerRating), fell below its 200-day moving average on Tuesday for the first time since early August 2007.
The Semiconductor HOLDRS, SMH
(
SMH |
Quote |
Chart |
News |
PowerRating), were among the most oversold exchange-traded funds on Tuesday. Trading below the 200-day moving average, SMH on Tuesday reached a 10-day high.
Would you like to double, triple or even quadruple your returns using ETFs? Click here to read our special Free Report on how leveraged and inverse ETFs can take your ETF trading to the next level!