From health care to technology, exchange-traded fund (ETF) traders and investors bid ETF markets higher across the board, as the response to recent oversold extremes continued for a second day. The Health Care Select Sector SPDR Fund (XLV) gained well over 1% in closing at new short term highs. Meanwhile the iShares S&P North American Technology Semiconductor Index Fund (IGW) closed higher for a second day after closing for two days in a row in oversold territory.
Among country ETFs, the iShares FTSE/Xinhua China 25 Index Fund (FXI) closed for a second day in overbought territory below the 200-day moving average.
Here are 7 ETFs You Need to Know for Wednesday
Up more than 1% and closing at its highest level in seven days was the SPDR S&P 500 ETF (SPY).
Both the iShares Dow Jones U.S. Technology Index Fund (IYW) and the Vanguard Information Technology ETF (VGT) maintained their top ETF PowerRatings over the course of trading on Tuesday, and are among the ETFs worth watching over the next few days.
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Looking for ETFs trading above their 200-day moving averages that are still oversold? The iShares MSCI Taiwan Index Fund (EWT) closed lower by more than 1% on Tuesday and remains among the ETF market's highest rated exchange-traded funds.
Also among the top rated funds for Wednesday is the iShares MSCI South Korea Index Fund (EWY). The fund has closed higher for the past two consecutive sessions but is not yet back in overbought territory.
After the EWT, the most oversold ETF in our database is the SPDR KBW Regional Banking ETF (KRE). KRE has closed lower for four days in a row, three in oversold territory.
Continuing to retreat from its recent breach of the 200-day moving average was the PowerShares DB US Dollar Bullish Fund (UUP).
