Sellers were most aggressive in the technology sector, helping the ProShares UltraShort Technology (REW) gain on Wednesday. Meanwhile, buyers remained on the offensive in the commodity space, making higher prices for materials and energy shares. Both the Energy Select Sector SPDR Fund (XLE) and the Materials Select Sector SPDR Fund (XLB) gained well over 1%.

Here are 7 ETFs You Need to Know for Thursday

The SPDR S&P 500 ETF (SPY) closed higher for a third trading day in a row on Wednesday, leading both the DIAMONDS Trust (DIA) and the iShares Russell 2000 Index Fund (IWM).

Among the top ETF PowerRatings funds going into trading on Thursday are the Vanguard REIT ETF (VNQ), which maintained its top rating over the course of the trading day.

Also among the top rated funds for Thursday is the Utilities Select Sector SPDR Fund (XLU). XLU had closed lower for five days in a row going into Wednesday's trading and ending the day up less than 1%.

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The pullback in real estate related exchange-traded funds means more overbought conditions for the ProShares UltraShort Real Estate (SRS), which has closed in overbought territory below the 200-day moving average for three out of the past four trading days.

The most oversold ETF in our database going into Thursday's trading? Among ETFs that are not related to the real-estate sector, that award goes to the Technology Select Sector SPDR Fund (XLK), which slipped into oversold territory on the close of Wednesday's trading. XLK has an ETF PowerRating of 6.

Buying pressure in crude oil remains high, with the United States Oil Fund (USO) closing higher for a third day in a row.

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