With virtually all sectors rising on Tuesday, industrials, financials and consumer discretionary sectors were attracting the most aggressive buyers. Meanwhile, European country ETFs including France and Germany were at their highest closing levels since the first few days of 2009 and back above their 200-day moving averages.
Here are 7 ETFs You Need to Know for Wednesday.
Among the major equity index ETFs, the PowerShares QQQ Trust ETF ( QQQQ | Quote | Chart | News | PowerRating) outperformed both the S&P SPDRS ETF ( SPY | Quote | Chart | News | PowerRating) and the Dow Diamonds ( DIA | Quote | Chart | News | PowerRating) on Tuesday, advancing by more than 3% intraday. QQQQ had spent the past two days in oversold territory above its 200-day moving average as we noted in TradingMarkets 7 ETFs You Need to Know for Tuesday.
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Gains of more than 5% intraday for stocks like JP Morgan Chase ( JPM | Quote | Chart | News | PowerRating) and Wells Fargo ( WFC | Quote | Chart | News | PowerRating) helped boost financial ETFs on Tuesday. The Direxion Financial Bull 3x Shares ETF ( FAS | Quote | Chart | News | PowerRating) soared by more than 9% intraday.
Precious metals ETFs dipped back toward oversold territory above the 200-day moving average on Tuesday with sellers driving both SPDR Gold Shares ETF ( GLD | Quote | Chart | News | PowerRating) and iShares Silver Trust ETF ( SLV | Quote | Chart | News | PowerRating) down at the open. Both ETFs recovered to move higher on the day.
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