Financials and consumer discretionary ETFs were among the best performers on the final trading day of the week. Strength in technology shares helped push the Nasdaq above 2,000 and send Nasdaq-related ETFs higher.
Related Quotes
Symbol Price Change
DIA 93.79 +1.16
EWT 11.10 +0.14
FAS 76.09 +5.57
IYT 66.95 +2.04
KRE 23.00 +1.18
Here are 7 ETFs You Need to Know for Monday.
Buyers continue to be obsessed with everything financial, with the overbought SPDR KBW Regional Banking ETF (NYSE:KRE - News) gaining more than 7% intraday on Friday and becoming even more overbought. Leveraged financial ETFs like the Direxion Daily Financial Bull 3x Shares ETF (NYSE:FAS - News) were up even more impressively, with FAS gaining in excess of 11% intraday.
Up 2% late in trading, the iShares MSCI Taiwan Index ETF (NYSE:EWT - News) that was the first country ETF to begin pulling back crossed back above its 5-day moving average on Friday. EWT was one of the ETF that we had been watching all week as the fund pulled back into oversold territory above the 200-day moving average.
TradingMarkets 7 ETFs You Need to Know for Monday
By David Penn
On Friday August 7, 2009, 2:29 pm EDT
One day in overbought territory below the 200-day moving average was enough to bring out the sellers in the ProShares UltraShort QQQ ETF (NYSE:QID - News), which was down more than 3% intraday on Friday as technology stocks led the Nasdaq 100 higher.
Breaking out to new year-to-date highs was the Industrial Select Sector SPDR ETF (NYSE:XLI - News). The ETF includes stocks such as General Electric (NYSE:GE - News) and United Parcel Service (NYSE:UPS - News)
Dow theory fans take note! The iShares Dow Jones Transportation Average ETF (NYSE:IYT - News) appears to have confirmed the Dow DIAMONDS ETF (NYSE:DIA - News) year-to-date high with a new year-to-date high of its own on Friday. Both ETFs are trading above their respective 200-day moving averages
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