TradingMarkets 7 ETFs You Need to Know for Wednesday
Sellers were most aggressive in both the financial and materials sectors on Tuesday, extending oversold conditions in exchange-traded funds (ETFs) like the ^IYF^ and the ^DBB^.
The most oversold ETF in our database going into trading on Wednesday? Closing in oversold territory for 9 out of the past 10 days is the ^EWZ^.
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Here are 7 ETFs You Need to Know for Wednesday
The ^SPY^ rallied on Tuesday after a two-day dip in oversold territory above the 200-day moving average. The ETF remains below its 5-day moving average going into trading on Wednesday.
Among the top ETF PowerRatings funds going into trading on Wednesday are the ^ILF^ and the ^EWS^. Both ILF and EWS earned top ETF PowerRatings ahead of trading Wednesday morning.
Exceptionally oversold technology ETFs, like the ^ROM^, soared by more than 2% on Tuesday. ROM was mentioned in yesterday’s 7 ETFs You Need to Know as one of a number of examples of heavy selling in the technology sector.
Back in oversold territory above the 200-day moving average was the ^XLB^, which managed to close near the session highs on Tuesday.
Looking for an ETF with an ETF PowerRating of 10 and a price tag to match? Among our Top 10 Low Priced ETFs for Wednesday is the ^EWT^, which closed on Tuesday just over $12 per share.
Will the announcement of President Obama’s deficit-reducing budget freeze be seen as dollar positive? Increasingly overbought below the 200-day moving average is the ^UUP^.