TradingMarkets 7 ETFs You Need to Know for Wednesday

Related Quotes

Symbol	Price	Change
IJS	59.32	+0.21
INP	63.99	+0.80
JNK	39.35	+0.27
LQD	104.58	-0.49
SLV	17.17	+0.36

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Semiconductors are among the most oversold sectors as of Tuesday's close, with a number of chip ETFs earning top ETF PowerRatings on the day. ETFs based on India remain the most oversold among country ETFs and small cap-based funds bounced after reaching oversold extremes in recent days. Top ETF PowerRatings funds include XSD, PFF, EWO.

Here are 7 ETFs You Need to Know for Wednesday.

Weighing down the Nasdaq was selling in semiconductors. Typical of the pullbacks in this sector were the declines in the Semiconductor HOLDRS ETF (NYSE:SMH - News) and the ProShares Ultra Semiconductor ETF (NYSE:USD - News). SMH closed in oversold territory above the 200-day moving average for a third day in a row, losing more than 1% on Tuesday. USD was off as much as 3%.

Corporate bond ETFs also remained on the retreat on Tuesday. The iShares iBoxx Investment Grade Corporate Bond ETF (NYSE:LQD - News) pulled back for a second day, closing in oversold territory. Meanwhile, it was the second consecutive close in oversold territory for the SPDR Barclays High Yield Bond ETF (NYSE:JNK - News).

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Among yesterday's top ETF PowerRatings funds was the iShares S&P Small Cap 600/Barra Value Index Fund ETF (NYSE:IJS - News). The fund rallied by more than 1% after closing lower for five out of the past six trading days.

Precious metals ETFs were on the move higher again on Tuesday with the iShares Silver Trust ETF (NYSE:SLV - News) up more than 5%.

A number of India-related ETFs continue to trade in oversold territory above the 200-day moving average. Although closing higher on an open-to-close basis, the iPath MSCI India Index ETN (NYSE:INP - News) lost nearly 2% on the day.

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