TradingMarkets 7 ETFs You Need to Know for Monday

• By David Penn
• On 5:03 pm EDT, Friday October 9, 2009

U.S. markets continued higher yet again on Friday to end a very bullish week for equities and equity index ETFs like the SPDR S&P 500 ETF (NYSE:SPY - News), which closed higher for a fifth straight trading session. Sectorwise, health care, financials and technology outperformed on the day.

Here are 7 ETFs You Need to Know for Monday.

A day after pulling back, health care related ETFs rallied on Friday. The Health Care Select Sector SPDRS ETF (NYSE:XLV - News) closed at their highest level since late September, while the Vanguard Health Care ETF (NYSE:VHT - News) gained more than 1% before pulling back somewhat.

Looking for oversold ETFs above the 200-day moving average? The best bets for traders in the short-term are in the bond market, with ETFs like the iShares iBoxx Investment Grade Corporate Bond Fund ETF (NYSE:LQD - News).

A gain of nearly 2% on Friday helped drive the Direxion Daily Financial Bull 3x Shares ETF (NYSE:FAS - News) back into overbought territory above the 200-day.

Overbought below its 200-day moving average is the ELEMENTS/Rogers International Commodity Index - Agriculture Total Return ETN (NYSE:RJA - News).

Meanwhile, rallying from its lowest levels in more than a year was the PowerShares DB U.S. Dollar Index Bullish Fund (NYSE:UUP - News). UUP was up nearly 1% on Friday.

Off by more than 3% intraday on Friday was the United States Natural Gas Fund (NYSE:UNG - News), which has essentially been range-bound since mid-September.

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Buzz up!