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Stocks rallied modestly on Thursday, with financials and energies leading the way higher.
Here are 7 ETFs You Need to Know for Friday.
After a three-day pullback, the Financial Select Sector SPDR ETF (XLF | Quote | Chart | News | PowerRating) was one among a number of financial-related exchange-traded funds to move higher on Thursday. Gaining more than 5% intra-day was the ProShares Ultra Financial ETF (UYG | Quote | Chart | News | PowerRating), back in overbought territory below the 200-day moving average.
Rallying after a two-day pullback above its 200-day moving average was the iShares Dow Jones Energy Services Index ETF (IYE | Quote | Chart | News | PowerRating), which benefited from strong energy prices on Thursday.
Sellers emerged in health care-related ETFs on Thursday, taking advantage of recent gains by taking profits in ETFs like the Health Care Select SPDR ETF (XLV | Quote | Chart | News | PowerRating) and the iShares Dow Jones Healthcare Services ETF (IYH | Quote | Chart | News | PowerRating), both off more than 1% intra-day.
After dipping into oversold territory above its 200-day moving average on Wednesday, shares of the Market Vectors Coal ETF (KOL | Quote | Chart | News | PowerRating) were up by more than 4% intraday late on Thursday.
While a number of country ETFs - especially in Asian - were rallying from recent oversold conditions above the 200-day, a few funds, such as the iShares MSCI Taiwan Index ETF (EWT | Quote | Chart | News | PowerRating) remained largely oversold during Thursday's trading.
Did you know that FAS (Direxion Financial Bull 3X Shares) recently surpassed the volume of trading as compared to the SPYs (SPDR S&P 500)? Click here to learn quantified trading strategies in High Probability ETF Trading and gain a trading edge.
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