U.S. markets were little changed on Tuesday, allowing major equity index ETFs like the ^SPY^ and the ^IWM^ climb back into overbought territory above the 200-day moving average.
The highest rated leveraged ETF ahead of Wednesday’s trading is the ^ERX^.
Here are 7 ETFs You Need to Know for Wednesday.
Among the exchange-traded funds (ETFs) taking top ETF PowerRatings into trading on Wednesday are a pair of ETFs that earned upgrades to 8 late in trading on Tuesday: the ^IEZ^ and the ^PXH^.
The highest rated country fund going into Wednesday’s trading is a tie between the Market Vectors Russia ETF mentioned in yesterday’s column and the ^EWT^.
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The highest rated exchange-traded fund among the 10 ETFs with the most volume is the ^EEM^, which began and ended the day with an ETF PowerRating of 7.
The most oversold ETF in our database as of the close on Tuesday? By a comfortable margin, the single-digit, 2-period RSI of the ^OIH^ makes that fund among the most oversold above the 200-day moving average ahead of trading on Wednesday.
Commodity-based ETFs in general are also under selling pressure as we move toward mid-week. Also making our most oversold list of exchange-traded funds for Wednesday are the ^DBC^ and the ^DBB^.
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