7 ETFs YOU NEED TO KNOW FOR THURSDAY

Here are 7 ETFs You Need to Know for Thursday.

Continued bullishness and optimism toward technology stocks played a positive role in the advance of the PowerShares QQQ Trust ETF (QQQQ | Chart | News | PowerRating) which made its 11th consecutive higher high on Wednesday. Like many equity index ETFs, QQQQ is both above its 200-day moving average and extremely overbought.

Buyers returned to the consumer discretionary sector on Wednesday, bidding shares of the Consumer Discretionary Select Sector SPDR ETF (XLY | Chart | News | PowerRating) higher. Trading above its 200-day, the very overbought XLY has closed with a 2-period RSI of more than 99 for four days in a row.

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Up more than 4% intraday on Wednesday were shares of the ProShares Ultra Semiconductor ETF (USD | Chart | News | PowerRating). Among the largest holdings in USD are stocks like Texas Instruments (TXN | Chart | News | PowerRating) and Applied Materials (AMAT | Chart | News | PowerRating).

Continuing to test its highest levels of the year, the iShares MSCI Japan Index ETF (EWJChart | News | PowerRating) added more than 1% on Wednesday. Having recently closed at year-to-date highs, the iShares MSCI Hong Kong Index ETF (EWH | Chart | News | PowerRating) has moved sideways for the past three days. |

Sellers took profits from the quick bond rally of Tuesday, taking bond ETFs like the iShares Barclays Aggregate Bond ETF (AGG | Chart | News | PowerRating) and the Vanguard Total Bond Market ETF (BND | Chart | News | PowerRating) down from overbought territory above their 200-day moving averages.