Financials gained one day after dipping into oversold territory and earning some of our highest ETF PowerRatings. Typical of the advance in financials was the reversal to the upside by the ^FAS^.
Country ETFs like the ^EWZ^ continued to climb from recent oversold lows above the 200-day. Here in the U.S., the ^IWM^ closed lower after making significant intraday gains.
Here are 7 ETFs You Need to Know for Thursday.
Exchange-traded funds taking top ETF PowerRatings into Thursday’s trading include the ^ITB^ and the ^IBB^..
Recently top-rated energy ETFs continued to advance on Wednesday. Up more than 1% intraday and closing higher for a third consecutive session was the ^XOP^. XOP was a top 10 rated exchange-traded fund as recently as Monday.
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Among the sectors pulling back on Wednesday was the consumer discretionary or consumer cyclicals. Retail-based exchange-traded funds like the ^XRT^ and the ^RTH^ both closed in oversold territory above the 200-day moving average.
The most oversold ETF in our database? Other than the preferred stock related ETFs that have topped over Oversold List for the past few days, the ^ICF^ is the most oversold fund trading above the 200-day moving average in advance of Thursday’s trading.
Sharply reversing to the downside and back in oversold territory above the 200-day moving average on Wednesday was the ^UUP^. UUP has closed in oversold territory above the 200-day for two out of the past three days.
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