Although U.S. equity index ETFs gained on Thursday, a number of country-based exchange-traded funds continued to move deeper into oversold territory above the 200-day moving average. Among them was the iShares MSCI Brazil Index Fund (EWZ).
Health care stocks, such as those represented by the Vanguard Health Care ETF (VHT), and the iShares Dow Jones U.S. Healthcare Sector Index Fund (IYH), continued to gain. Both funds closed in overbought territory above the 200-day moving average for a second consecutive session on Thursday.
Here are 7 ETFs You Need to Know for Friday.Among the top ETF PowerRatings funds going into Friday's trading are the Claymore/AlphaShares China Real Estate ETF (TAO) and the Claymore/MAC Global Solar Energy Index ETF (TAN).
Both ETFs earned our highest rating midday through the trading day on Thursday.
The iShares S&P Latin American 40 Index Fund (ILF) is also one of the highest rated exchange-traded funds going into the final trading day of the week. ILF also experienced one of the largest ETF PowerRatings upgrades on the day.
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After closing lower for three consecutive sessions - and making our Most Oversold List Wednesday after the close - the SPDR Lehman High Yield Bond ETF (JNK) rallied into neutral territory on Thursday.
The most oversold ETF in our database? Among country ETFs, the iShares MSCI Hong Kong Index Fund (EWH) is one of the most oversold with a 2-period RSI of less than 5. Also very oversold above the 200-day moving average is the iShares FTSE/Xinhua China 25 Index Fund (FXI).
Energy shares continued to move higher on Thursday. Gaining for a second day after reachign oversold extremes above the 200-day moving average was the ProShares Ultra Oil & Gas (DIG). DIG is leveraged two-to-one to the daily return of the Dow Jones U.S. Oil & Gas Index of stocks including Exxon Mobil Corporation (XOM) and Chevron Corp (CVX).
