TradingMarkets 7 ETFs You Need to Know for Monday

The reversal to the upside in the broader markets was anticipated by the trading in a number of exchange-traded funds, many of which gapped down at the open only to move higher over the course of the trading day. The shift in sentiment toward buying helped boost financials and technology sectors in particular. Funds linked to precious metals were especially hard hit with selling, with many such ETFs down more than 10%.

Here are 7 ETFs You Need to Know for Monday.

The iShares FTSE/Xinhua 25 index ETF, FXI (FXI | Quote | Chart | News | PowerRating), gapped down at the open on Friday, but managed to rally more than 4% open to close. Another emerging markets mover on the day were the iShares Brazil Index fund, EWZ (EWZ | Quote | Chart | News | PowerRating), which gained more than 3% after the opening move lower.

Although finishing the day off its lows, the Oil Service HOLDRS, OIH (OIH | Quote | Chart | News | PowerRating), lost nearly 10% on the day.

The rout in basic materials stocks continues to be a boon for leveraged short ETFs such as the ProShares UltraShort Basic Materials fund, SMN (SMN | Quote | Chart | News | PowerRating), whcih gained more than 5% on Friday. The dramatically overbought ETF continues to trade above both its 200- and 5-day moving averages.

Financial stocks also produced an impressive reversal after opening lower on Friday. The KBW Regional Banking ETF, KRE (KRE | Quote | Chart | News | PowerRating), gained more than 10% on the day. The broader Select Financial Sector SPDRS, XLF (XLF | Quote | Chart | News | PowerRating) were up more than 4%.

Trading below its 200-day moving average and increasingly overbought, the iShares Silver Trust, SLV (SLV | Quote | Chart | News | PowerRating), dropped by more than 17% on Friday.

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