India-based exchange-traded funds are among the most oversold heading into trading on Monday. Find out what other ETFs are pulling back from recently overbought conditions in today’s edition of 7 ETFs You Need to Know.
Short term oversold conditions resulted in a strong rally on Thursday, putting many oversold stocks back in the overbought column ahead of the final trading day of the week.
Sellers continued to press their offensive on Tuesday, sending even more stocks tumbling toward oversold territory above the 200-day moving average ahead of trading on Wednesday.
Technology stocks led by Cisco Systems pulled back, while energy stocks like HAL and MEE were on the move higher ahead of trading on Friday.
Earnings season always gets lots of hype, and this one has been no different. This QTR was expected to be an easy comparison to Q4 (Recession of 2008), and it is as over 70% of reporting companies have beaten greatly reduced estimates due mostly to cost cutting and layoffs, but that is not the case for top line growth.