TradingMarkets 7 ETFs You Need to Know for Monday

• By David Penn
• On 4:31 pm EDT, Friday October 23, 2009

U.S. markets were back on the retreat to end the week with financials, energy and materials names helping lead lower. Around the world, ETFs and ETNs representing the equities markets of India were among those moving most aggressively toward oversold territory above the 200-day.

Here are 7 ETFs You Need to Know for Monday.

Off by more than 1% and closing lower for three out of the past four days, the S&P 500 SPDRS ETF (NYSE:SPY - News) remains rangebound as it has been for the past several days.

Also closing lower for three out of the past four days was the India Fund (NYSE:IFN - News), which lost well over 1% on Friday.

Plunging more than 2% into deeply oversold territory was the iShares MSCI Japan Index Fund ETF (NYSE:EWJ - News). EWJ closed at its lowest level since the beginning of the month.

Down over 2% on the day but not yet back into oversold territory above the 200-day was the ProShares Ultra Financials ETF (NYSE:UYG - News). Meanwhile, reversing most of the gains from Thursday was the drop in the SPDR Homebuilders ETF (NYSE:XHB - News), which lost more than 2% on Friday, pulling back to near-oversold levels.

Weakness in crude oil and energy shares led to a gain of over 4% for the ProShares UltraShort Oil & Gas ETF (NYSE:DIG - News). The bounce pushes the fund into overbought territory below the 200-day moving average.

Reversing to the downside after a surprising move higher over the past few days was the CurrencyShares British Pound Sterling Trust (NYSE:FXB - News). FXB lost nearly 2%, but remains above its 10-day moving average.

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Buzz up!