On a day of modest market movement, buyers seemed more interested in technology than other sectors. This meant lower levels for exchange-traded funds like the ^SSG^ and the ^REW^, which closed in oversold territory above the 200-day moving average on Tuesday.
Closing in overbought territory above the 200-day for a second consecutive session on Tuesday was the ^SPY^. The gains in the SPY were typical of most equity index ETFs.
Here are 7 ETFs You Need to Know for Wednesday.
Among the exchange-traded funds taking top ETF PowerRatings into Wednesday’s trading are the ^IAT^ and the ^PFF^.
Pulling back from three days in overbought extreme territory above the 200-day moving average on Tuesday was the ^UYG^.
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Two of the biggest ETF PowerRatings upgrades was the four-point upgrade in the ^KBE^ and the three-point PowerRatings upgrade in the ^IYG^.
Reversing back to the downside after two days in overbought territory was the ^GLD^.
The most oversold ETF in our database going into trading on Wednesday? Other than a pair of ETFs consisting of preferred shares, the ^RKH^ leads the pack of oversold financial ETFs that will likely be on the radar of high probability traders over the next few days.
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