TradingMarkets 7 ETFs You Need to Know for Tuesday

Short and leveraged short exchange-traded funds were among the day's top performers with all major indexes in the red. Short ETFs that were based on small-cap stocks as well as blue chips in the S&P 500 were up by more than 3% - or even 4% in some cases.

Financial stocks again provided a target for traders as ETFs oriented to financial stocks - including homebuilders - struggled on Monday.

Here are 7 ETFs You Need to Know for Tuesday

The ProShares UltraShort Semiconductor ETF, SSG (SSG | Quote | Chart | News | PowerRating), continued its advance toward its 200-day moving average on Monday, gaining more than 3% on the day.

After rallying for three days and becoming increasingly overbought below the 200-day moving average, the Select Financial Sector SPDRs, XLF (XLF | Quote | Chart | News | PowerRating) lost more than 2% on Monday.

Also gaining more than 3% on the day was the ProShares UltraShort S&P 500 exchange-traded fund, SDS (SDS | Quote | Chart | News | PowerRating). SDS was up after being down for three days in a row. Down only one day out of the past six yesterday, the ProShares UltraShort Russell 2000 ETF, TWM (TWM | Quote | Chart | News | PowerRating) gained more than 4% intraday on Monday.

The less widely-traded iShares Korea Index Fund, EWY (EWY | Quote | Chart | News | PowerRating) slipped to new, multi-year lows on Monday. The ETF was down more than 3% on the day.

After three days of increasingly extreme overbought conditions, the Select Utilities Sector SPDRS, XLU (XLU | Quote | Chart | News | PowerRating) are now in their second day of retreat and down more than 1% on the day.

The iShares S&P Small Cap 600 600 Fund, IJR (IJR | Quote | Chart | News | PowerRating), pulled back approximately 2% to test its 200-day moving average. IJR broke out beyond its 200-day moving average in the first half of August.

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