Sellers were most aggressive in the technology sector, helping make the QQQQ (QQQQ) one of the bigger decliners among major equity index ETFs.
After a strong open, the ProShares Ultra Semiconductors (USD) closed at a new short term low in oversold territory on Thursday. Faring better was the ProShares Ultra Financials (UYG), which closed near recent short term highs.
Here are 7 ETFs You Need to Know for Friday.
Country exchange-traded funds remain among those with the highest ETF PowerRatings going into Friday's trading. This includes country ETFs like the iPath MSCI India Index ETN (INP) and the Claymore/AlphaShares China Small Cap ETF (HAO).
The PowerShares DB US Dollar Bullish Fund (UUP) closed for a third straight session in overbought territory above the 200-day moving average. UUP has traded below its 200-day moving average since May 2009 and is now less than 1% below that level.
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Also among the top rated exchange-traded funds going into trading on Friday is the iShares Dow Jones Transportation Average Index Fund (IYT), which earned an ETF PowerRating upgrade from 8 to 10 late in trading on Thursday.
George Soros added his concerns over a "bubble" in the Chinese economy. Bouncing on Thursday yet still trading below its 200-day moving average is the iShares FTSE/Xinhua China 25 Index Fund (FXI), a popular exchange-traded fund for ETF investors and traders alike. Its leveraged, inverse counterpart, the ProShares UltraShort FTSE/Xinhua China 25 (FXP), pulled back from two days in overbought territory above the 200-day moving average.
Closing in oversold territory above the 200-day moving average for seven consecutive trading days is the extremely oversold iShares Silver Trust (SLV).
