Most ETF markets hovered around breakeven levels on the final trading day of the week. Financials and energies pulled back as buying rotated toward consumer cyclicals and basic materials. Around the globe, profit-taking kept gains in country ETFs at a minimum.
Here are 7 ETFs You Need to Know for Monday.
Spending its second day in overbought territory above the 200-day moving average was the S&P 500 SPDRS ETF ( SPY | Quote | Chart | News | PowerRating). SPY has closed with a 2-period RSI of more than 90 for the past two trading days.
Among the few ETFs to maintain their high ETF PowerRatings as of Friday's close were the iShares Dow Jones U.S. Regional Banks ETF ( IAT | Quote | Chart | News | PowerRating) and the KBW Bank ETF ( KBE | Quote | Chart | News | PowerRating). With ETF PowerRatings of 9, both funds belong to that category of ETF which, according to our research going back to 2004, have made positive gains in the short term more than 77% of the time.
Sliding toward oversold territory above the 200-day was the iShares MSCI Japan Small Cap Index Fund ETF ( SCJ | Quote | Chart | News | PowerRating). SCJ pulled back by 2% intraday on Thursday. More than 25% of the ETF's equity holdings are in the industrial sector.
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The PowerShares DB Agriculture Fund ETF ( DBA | Quote | Chart | News | PowerRating) - our Oversold ETF of the Day on Thursday - continued lower on Friday, closing in oversold territory above the 200-day for a second consecutive session.
Sideways trading in the iShares Silver Trust ETF ( SLV | Quote | Chart | News | PowerRating) over the past few days has helped the ETF move from overbought to more neutral levels above the 200-day.
Up by more than 1% late in trading on Friday and indicative of the strength in consumer cyclical stocks was the gain in the S&P SPDR Retail ETF ( XRT | Quote | Chart | News | PowerRating).
