TradingMarkets 7 ETFs You Need to Know for Tuesday

Stocks sold off to end the trading week on a bearish note as three consecutive up days in the Dow industrials and S&P 500 finally brought out profit-takers. Losses in the technology sector helped keep the Nasdaq and Nasdaq-related ETFs lower on Friday, as funds linked to semiconductor stock indexes were among the biggest decliners.

Here are 7 ETFs You Need to Know for Tuesday.

Weakness in technology stocks helped drag the Nasdaq 100 lower on Friday. This provided for a pullback in the ProShares Ultra QQQ ETF, QLD (QLD | Quote | Chart | News | PowerRating), by more than 2% late in the day. Conversely, the overbought ProShares UltraShort QQQ exchange-traded fund, QID (QID | Quote | Chart | News | PowerRating), gained nearly 3% on the day, closing to within two points of its 200-day moving average.

The Select Energy Sector SPDRs, XLE (XLE | Quote | Chart | News | PowerRating) were lower for a second consecutive day on Friday. The ETF has been trading in a short-term consolidation range just below its 200-day moving average.

Responding to the single digit, 2-period RSI of less than 5 as of Thursday's close, the ProShares UltraShort Utilities ETF, SDP (SDP | Quote | Chart | News | PowerRating), jumped by more than 3% late in trading on Friday.

The Semiconductor HOLDRS, SMH (SMH | Quote | Chart | News | PowerRating), moved lower by more than 2% on Friday after three days of gains. The exchange-traded fund continues to trade below its 200-day moving average. Traders looking to trade the semiconductor sector more aggressively may want to consider the ProShares Ultra Short Semiconductor fund, SSG (SSG | Quote | Chart | News | PowerRating) which rebounded by more than 4% on Friday after three consecutive selling days.

After gapping higher on Wednesday and holding on to those gains for a day, the iShares MSCI Taiwan Index ETF, EWT (EWT | Quote | Chart | News | PowerRating), succumbed to increasingly overbought conditions by selling off by nearly 2% on Friday.

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