7 ETFs YOU NEED TO KNOW FOR THURSDAY

By David Penn

Here are 7 ETFs You Need to Know for Thursday.

Set to close higher for an 11th consecutive trading day, the Financial Select SPDR ETF (XLF | Chart | News | PowerRating) was indicative of the continued strength in financial and banking ETFs. Up nearly 3% intraday was the Retail Bank HOLDRS ETF (RKH | Chart | News | PowerRating).

After a one-day bounce after dipping into oversold territory above the 200-day moving average, the SPDR S&P Biotechnology ETF (XBI | Chart | News | PowerRating) slid back toward oversold levels on Wednesday.

The selling on Wednesday has already taken the Semiconductor HOLDRS ETF (SMH | Chart | News | PowerRating) into oversold levels above the 200-day shortly after noon Wednesday afternoon. Even more emphatically, the ProShares Ultra Semiconductor ETF (USD | Chart | News | PowerRating) lost more than 3% in pulling back intraday into oversold territory above the 200-day.

While a number of bond ETFs have bounced on Wednesday, the iShares Barclays Aggregate Bond ETF (AGG | Chart | News | PowerRating) remains under selling pressure and in oversold territory above the 200-day.

Strength in the British pound versus the U.S. dollar continues to drive the CurrencyShares British Pound Sterling Trust (FXB | Chart | News | PowerRating) higher, with a new nine-month high notched on Wednesday.