7 EFT’s to know for Wednesday

by David Penn

Selling was heaviest in the materials sector on Tuesday, though sellers were aggressive enough across the board to create oversold conditions in sector-based exchange-traded funds from the S&P Retail SPDRS ETF (NYSE:XRT) to the iShares Dow Jones U.S. Financial Sector Index Fund ETF (NYSE:IYF).

The iShares Russell 2000 Index Fund ETF (NYSE:IWM) is among the more oversold equity index ETFs going into Wednesday’s trading, closing lower for a second consecutive trading day.

Here are 7 ETFs You Need to Know for Wednesday.

Among the top ETF PowerRatings funds for Wednesday are a pair of country funds that experienced dramatic ETF PowerRatings upgrades intraday on Tuesday. These exchange-traded funds are the iShares FTSE/Xinhua China 25 Index Fund ETF (NYSE:FXI) and the iShares MSCI Canada Index Fund ETF (NYSE:EWC).

Beyond country funds, other top rated exchange-traded funds earning major ETF PowerRatings upgrades ahead of Wednesday’s trading include the Vanguard Information Technology ETF (NYSE:VGT), which was upgraded to 9 late in trading on Tuesday.

Both the S&P 500 SPDRS ETF (AMEX:SPY) and the PowerShares QQQ Trust ETF (NasdaqGM:QQQQ) retreated to oversold territory above the 200-day moving average on Tuesday. This marks the first time since New Year’s Eve 2009 that both funds have closed oversold.

Based out of London, ETF Securities has made available to U.S. traders and investors a pair of new, commodity-based exchange-traded funds. These new ETFs are the ETFS Physical Platinum Shares ETF [Nasdaq::PPLT] and the ETFS Physical Palladium Shares ETF (NYSEArca:PALL).

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