TradingMarkets 7 ETFs You Need to Know for Wednesday

• By David Penn
• On 4:58 pm EDT, Tuesday September 29, 2009

Most ETFs drifted back toward neutral levels on the day following the Dow industrials' advance of more than 100 points. Commodities remained under selling pressure and buyers were most aggressive in the consumer space - both staples and cyclicals.

Here are 7 ETFs You Need to Know for Wednesday. Learn new strategies for ETFs such as these in Larry Connors' new book, High Probability ETF Trading.

Pullbacks in the technology sector were the most prounced on Tuesday. The ProShares Ultra Semiconductor ETF (NYSE:USD - News) dropped by well over 2% late in trading on Tuesday. The broader market for technology, as measured by the ProShares Ultra Technology ETF (NYSE:ROM - News) pulled back by 1%.

Looking for ETFs that are likely to outperform over the next few days? Among our top rated, ETF PowerRatings ETFs for Wednesday are the iShares MSCI Sweden Index Fund ETF (NYSE:EWD - News) and the Vanguard Pacific ETF (NYSE:VPL - News). Both funds have ETF PowerRatings of 8 late in the trading day on Tuesday.

Want to trade the BRIC countries in one batch? The SPDR S&P BRIC 40 ETF (NYSE:BIK - News) gives traders and investors exposure to the top stocks of Brazil, Russia, India and China. By sector, BIK is most heavily weighted toward financial services and energy companies.

Traders continued to be interested in bond ETFs, with the iShares Barclays TIPS ETF (NYSE:TIP - News) closing higher for a third day in a row above the 200-day moving average, its fifth up close in the past six days. The corporate side of the bond market was even more overbought going into Tuesday's trading, with the iShares iBoxx Investment Grade Corporate Bond ETF (NYSE:LQD - News) closing up for a sixth consecutive session.

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Buzz up!