TradingMarkets 7 ETFs You Need to Know for Friday
Sellers were most aggressive in the technology sector, helping make the ^QQQQ^ one of the bigger decliners among major equity index ETFs.
After a strong open, the ^USD^ closed at a new short term low in oversold territory on Thursday. Faring better was the ^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 ^INP^ and the ^HAO^.
The ^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.
What are the two most important moving averages for high probability ETF traders? Click here to find out now.
Also among the top rated exchange-traded funds going into trading on Friday is the ^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 ^FXI^, a popular exchange-traded fund for ETF investors and traders alike. Its leveraged, inverse counterpart, the ^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 ^SLV^.