Profit-taking after the two-day rally was most aggressive in the financial and health care sectors, with the ProShares Ultra Financials (UYG) down 2% late in trading on Wednesday and the Vanguard Health Care ETF (VHT) off nearly1%.
The Market Vectors Russia ETF (RSX) was among the country exchange-traded funds pulling back again on Wednesday, although not yet back in oversold territory above the 200-day moving average.
Here are 7 ETFs You Need to Know for Thursday.
Among the top ETF PowerRatings funds going into trading on Thursday are the HOLDRS Semiconductor (SMH) and the iShares DJ US Regional Banks (IAT). SMH pulled back slightly after advancing fot two sessions in a row. IAT, by contrast, has closed lower for two consecutive trading days, the most recent in oversold territory above the 200-day moving average.
The iShares MSCI Taiwan Index Fund (EWT) remains the highest rated country ETF in our ETF PowerRatings database ahead of Thurday's trading. EWT's ETF PowerRating slipped from a top 10-rating to a 9 over the course of trading on Wednesday.
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Closing above its 200-day moving average for the second day in four was the PowerShares DB US Dollar Bullish Fund (UUP).
The most oversold exchange-traded fund in our database after Wednesday's pullback? The SPDR KBW Regional Banking ETF (KRE) has a 2-period RSI of less than 4 ahead of trading on Thursday.
In addition to EWT, the iShares MSCI Brazil Index Fund (EWZ) is one of the highest rated ETF PowerRatings country funds for Thursday, earning an ETF PowerRating of 9.
High probability traders are likely steering clear of the iShares FTSE/Xinhua China 25 Index Fund (FXI) for the time being. The ETF earned a "consider avoiding" ETF PowerRating of 3 as of the close on Wednesday.
