TradingMarkets 7 ETFs You Need to Know for Tuesday

• By David Penn
• On 4:16 pm EDT, Monday October 19, 2009

Energy and consumer cyclicals helped keep most equity ETFs in overbought territory above the 200-day moving average. Around the world, ETFs representing the BRIC nations of Brazil, Russia, India and China were among the day's outperformers.

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Leading the way higher among exchange-traded funds (ETFs) linked to the so-called BRIC nations were the 3% gains in the iShares FTSE/Xinhua China 25 ETF (NYSE:FXI - News) and the Market Vectors Russia ETF (NYSE:RSX - News).

With help from strength in the semiconductor sector, the PowerShares QQQ Trust ETF (NYSE:QQQQ - News), was among the day's top, non-leveraged equity index performers, up more than 1% intraday and setting a new high.

Buyer remained cautious about re-entering the market for financials, keeping ETFs like the Financial Select Sector SPDRS ETF (NYSE:XLF - News) near oversold levels above the 200-day.

Up well over 2%, the ProShares Ultra Semiconductor ETF (NYSE:USD - News) rallied after closing lower for four days in a row above the 200-day moving average. The ETF is still below its 5-day moving average. We highlighted the oversold condition in USD in yesterday's 7 ETFs You Need to Know.

Closing higher for a fifth consecutive trading day above the 200-day moving average was the United States Oil Fund (NYSE:USO - News). USO is at levels not seen since November 2008 and has recently emerged from a trading range that extended back to mid-June of this year.

Base or industrial metals continued to rally on Monday, with the PowerShares DB Base Metals ETF (NYSE:DBB - News) up well over 3% on the day.

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