TradingMarkets 7 ETFs You Need to Know for Thursday

Emerging market-related exchange-traded funds were among the biggest gainers in the final hour of trading on Wednesday, with ETFs providing exposure to markets in both China and Brazil both up more than 3% late in the day.

Short and leveraged short ETFs indexed to financial stocks pulled back for a second consecutive day and are both trading above their 200-day moving averages and increasingly oversold.

Here are 7 ETFs You Need to Know for Thursday.

Up for the fifth day out of six and more than 2% on the day, the iShares FTSE/Xinhua 25 Index ETF, FXI (FXI | Quote | Chart | News | PowerRating), reached a 2-period RSI of more than 90. The ETF trades below its 200-day moving average. Also below its 200-day moving average but moving higher is the iShares MSCI Taiwan Index ETF, EWT (EWT | Quote | Chart | News | PowerRating), which was up more than 2% on Wednesday.

iShares Brazil Index Fund, EWZ (EWZ | Quote | Chart | News | PowerRating) were up more than 2% on Wednesday, rallying sharply after a three-day slide. EWZ trades several points below its 200-day moving average.

The Proshares UltraShort Financials ETF, SKF (SKF | Quote | Chart | News | PowerRating), continued to move lower on Wednesday. Trading above its 200-day moving average, the fund is increasingly oversold. Its inverse, the Proshares UltraFinancials exchange-traded fund, UYG (UYG | Quote | Chart | News | PowerRating) is up five out of the past six days.

Although nearly 30 points above its 200-day moving average, the Biotech HOLDRS, BBH (BBH | Quote | Chart | News | PowerRating), are among the most oversold ETFs in the market, with a 2-period RSI of less than 16.

Approaching the July highs and trading below their 200-day moving average, the Select Utilities Sector SPDRs, XLU (XLU | Quote | Chart | News | PowerRating), are among the more overbought of the widely-traded ETFs on the market.

Spend 3 Days with 21 of the Best Traders in the World!

Sound too good to be true? It's not. For a select group of traders, this will be a reality at TradingMarkets 2008 on November 14-16, 2008 at the luxurious MGM Grand Hotel and Casino in Las Vegas, Nevada.

Victor Sperandeo. Gil Morales. Raghee Horner. Gary Kaltbaum. Steve Nison. These are just a few of the top traders in stocks, forex, options, futures and exchange-traded funds who will be speaking and working with traders just like you at TradingMarkets 2008. Don't miss the special event! Click here for more details!