Asian and emerging markets rebounded on Wednesday after falling to exceptionally oversold levels over the past few days. Exchange-traded funds with exposure to China, Taiwan, Hong and Japan were all higher.
Energy-related exchange-traded funds also moved higher on Wednesday, breaking out above short term consolidation ranges in many cases. The retreat in the
overbought technology sector entered its third day as reflected by declines in technology and semiconductor-oriented ETFs.
Here are 7 ETFs You Need to Know for Thursday.
The iShares FTSE/Xinhua 25 index ETF, FXI ( FXI | Quote | Chart | News | PowerRating), rebounded from oversold extremes today, gaining as much as 5% intraday.
The Oil Service HOLDRS, OIH ( OIH | Quote | Chart | News | PowerRating) gained more than 3% on Tuesday. The fund breached its 200-day moving average for the first time in two weeks.
Also higher on the day was the Select Energy Sector SPDR ETF, XLE ( XLE | Quote | Chart | News | PowerRating), which broke out to new short-term highs with a gain of more than 3%. Increasingly overbought, the XLE remains below its 200-day moving average.
Testing its 200-day moving average for the third day in a row, the PowerShares DB Agriculture Fund, DBA
(
DBA |
Quote |
Chart |
News |
PowerRating), gained more than 2% intraday on
Wednesday.
The most widely traded exchange-traded fund, the SPDRS, SPY ( SPY | Quote | Chart | News | PowerRating) closed below their 5-day moving average for the second consecutive session on Tuesday, the first time the SPY has done this since August 1st.
Down for the fourth day in a row, the Semiconductor HOLRDS, SMH ( SMH | Quote | Chart | News | PowerRating) continued to pullback from recent overbought extremes - and an inability to consistently close above the 200-day moving average.
For their second consecutive day, the ProShares UltraShort Russell 2000 exchange-traded fund, TWM ( TWM | Quote | Chart | News | PowerRating), recorded a 2-period RSI of more than 90. The ETF, which trades below its 200-day moving average, is among the more overbought of the widely traded exchange-traded funds.
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