TradingMarkets 7 ETFs You Need to Know for Wednesday

An overwhelmingly bullish mood lifted stock ETFs across the board on Tuesday. Financial stocks were special beneficiaries of the 300+ day in the Dow industrials, driving both leveraged and unleveraged financial sector ETFs higher. Energy exchange-traded funds were unique among the sector losers on Tuesday. China was higher, while emerging markets ETFs were quieter and less volatile.

Here are 7 ETFs You Need to Know for Wednesday

Among the most impressive performances on Tuesday was the gain of more than 6% in the Proshares Ultra QQQ, QLD (QLD | Quote | Chart | News | PowerRating), which closed on Tuesday at its highest level since July 1.

Down more than 8% on the day, the Proshares Ultrashort Financials, SKF (SKF | Quote | Chart | News | PowerRating), retreated to its 200-day moving average in trading on Tuesday. Tuesday's close marked the lowest close in the exchange-traded fund since early June.

The United States Oil Fund LP, USO (USO | Quote | Chart | News | PowerRating), continued to pull back on Tuesday, falling to levels not seen since early May.

The iShares Dow Jones U.S. Real Estate Index exchange-traded fund, IYR (IYR | Quote | Chart | News | PowerRating), moved higher along with other financially-oriented ETFs, gaining more than 4% on the day and swiftly approaching its 200-day moving average from below.

A steep pullback was the story for the Proshares Ultra Short S&P 500, SDS (SDS | Quote | Chart | News | PowerRating), on Tuesday, as the ETF pulled back more than 6% to test the July lows.

The SPDR Gold Trust, GLD (GLD | Quote | Chart | News | PowerRating), fell below its 200-day moving average on Tuesday for the first time since early August 2007.

The Semiconductor HOLDRS, SMH (SMH | Quote | Chart | News | PowerRating), were among the most oversold exchange-traded funds on Tuesday. Trading below the 200-day moving average, SMH on Tuesday reached a 10-day high.

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