After a quick start, U.S. markets turned down going into midday before rallying somewhat into the close. This leave equity index ETFs like S&P 500 SPDRS ETF ( SPY | Quote | Chart | News | PowerRating) and the Dow DIAMONDS ETF ( DIA | Quote | Chart | News | PowerRating) in neutral territory going into the new week.
Among sectors, buyers were most aggressive in the financial sector, helping oversold funds like the ProShares Ultra Financials ETF ( UYG | Quote | Chart | News | PowerRating) gain more than 3%.
Here are 7 ETFs You Need to Know for Monday.
The highest rated country ETFs for next week? The iShares MSCI South Africa Index Fund ETF ( EZA | Quote | Chart | News | PowerRating) stands at the top of the pack with its ETF PowerRating of 8.
Bond ETFs continue to be among the most oversold as a group, with both the iShares Barclays Aggregate Bond ETF ( AGG | Quote | Chart | News | PowerRating) and the iShares iBoxx Investment Grade Corporate Bond ETF ( LQD | Quote | Chart | News | PowerRating) closing in oversold territory above the 200-day moving average on Friday.
Looking for a market to sell short? Stop looking above the 200-day moving average and consider exchange-traded funds (ETFs) like the PowerShares DB U.S. Dollar Index Bullish Fund ETF ( UUP | Quote | Chart | News | PowerRating) and the ProShares UltraShort Oil & Gas ETF ( DUG | Quote | Chart | News | PowerRating), both of which are very overbought below their respective 200-day moving averages.
Precious metals ETFs were under exceptional selling pressure on Friday. The SPDR Gold Trust ETF ( GLD | Quote | Chart | News | PowerRating) lost more than 4% while the iShares Silver Trust ETF ( SLV | Quote | Chart | News | PowerRating) pulled back by more than 2%.
