TradingMarkets 7 ETFs You Need to Know for Friday

Strength in financial stocks made for tough going for inverse financial ETFs, which were down on the day. Energy and materials related ETFs were again on the retreat, though many were trading off their lows heading into the close on Thursday. Exchange-traded funds providing exposure to Asian markets rallied after recently reaching oversold extremes.

Here are 7 ETFs You Need to Know for Friday

The ProShares UltraShort Financials ETF, SKF (SKF | Quote | Chart | News | PowerRating), experienced one of the biggest pullbacks among widely-traded funds, losing more than 3% and retracing all of Wednesday's gains. At the same time, the ProShares Ultra Financials ETF, UYG (UYG | Quote | Chart | News | PowerRating) was higher, but is not yet particularly overbought as it continues to trade below its 200-day moving average.

The ProShares UltraShort Oil & Gas ETF, DUG (DUG | Quote | Chart | News | PowerRating), bounced after the previous session's dramatic sell-off, gaining more than 3% on Thursday as the fund tested its 200-day moving average.

The ProShares Ultra QQQ exchange-traded fund, QLD (QLD | Quote | Chart | News | PowerRating), continued its assault on the 200-day moving average, moving higher by more than 2% on Thursday to come within cents of that long-term moving average.

Gold Shares SPDRs, GLD (GLD | Quote | Chart | News | PowerRating) continued to move lower on Thursday, falling by more than 2% to levels not seen since December 2007.

After breaching the July lows yesterday and becoming extremely oversold, the iShares FTSE/Xinhua 25 exchange-traded fund, FXI (FXI | Quote | Chart | News | PowerRating), was higher on Thursday as was the iShares Hong Kong Index ETF, EWH (EWH | Quote | Chart | News | PowerRating).

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