TradingMarkets 7 ETFs You Need to Know for Wednesday
Overbought extremes from Monday’s close made it difficult for many exchange-traded funds on Tuesday to make large gains. Other ETFs, such as those with emerging markets exposure, struggled the most, with some of these funds down more than 3% late in trading on Tuesday.
Here are 7 ETFs You Need to Know for Wednesday.
With technology among the weaker industry groups on Tuesday, the ProShares UltraShort Technology fund, REW
(
REW |
Quote |
Chart |
News |
PowerRating) soared by more than 7% on Tuesday. Trading above its 200-day moving average, REW has been pulling back for the past three days.
Continued weakness in emerging markets led the iShares MSCI Emerging Markets exchange-traded fund, EEM
(
EEM |
Quote |
Chart |
News |
PowerRating), lower by more than 5% on Tuesday.
Gold shares were also weaker on Tuesday, with the Select Gold Shares SPDRS, GLD
(
GLD |
Quote |
Chart |
News |
PowerRating) losing more than 3% late in trading.
Trading only a few points above its 200-day moving average, the ProShares UltraShort Financials ETF, SKF
(
SKF |
Quote |
Chart |
News |
PowerRating), continued to move sideways on Tuesday.
The ProShares UltraShort Oil & Gas fund, DUG
(
DUG |
Quote |
Chart |
News |
PowerRating) closed in oversold territory for the second consecutive day. DUG is trading a few points above its 200-day moving average.
After rallying for the past three days, the Select Energy Sector SPDRS, XLE
(
XLE |
Quote |
Chart |
News |
PowerRating), slid by more than 3% on Tuesday. XLE reached overbought extremes below the 200-day moving average on Monday.
Closing higher by more than 2% on Tuesday, the ProShares Short QQQ, PSQ
(
PSQ |
Quote |
Chart |
News |
PowerRating), ended the day higher after three days of pulling back above the 200-day moving average.
Double, Triple or Even Quadruple Your Returns Using ETFs! Click here to get your special free report!