The 7ETFs You Need to Know for Wednesday

Energies rebounded, while consumer cylicals - especially retail - remained on the retreat. Among country exchange-traded funds, pullbacks in India ETFs continue to deepen. Top ETF PowerRatings funds include: EPI, EWC, IYT.

Here are 7 ETFs You Need to Know for Wednesday.

Closing lower for a third day in a row was the PowerShares QQQ Trust ETF (QQQQ | Quote |Chart | News | PowerRating). The ETF closed in oversold territory above the 200-day for a second day in a row on Tuesday.

Weakness in semiconductor stocks is one reason for the correction in the Nasdaq 100. Pulling back by as much as 3% intraday was the ProShares Ultra Semiconductor ETF (USD |Quote | Chart | News | PowerRating)

With both Chevron Corporation(CVX | Quote | Chart | News | PowerRating) and Exxon Mobil(XOM | Quote | Chart | News | PowerRating) advancing by more than 2% intraday on Tuesday, energy and oil-related exchange-traded funds were on the march higher. This included theEnergy Select Sector SPDRS ETF (XLE | Quote | Chart | News | PowerRating), which closed higher after pulling back to oversold territory above the 200-day over the past two days.

At the same time, the ProShares UltraShort Oil & Gas ETF (DIG | Quote | Chart | News |PowerRating) retreated after spending the past two days in overbought territory below the 200-day. The ETF, which is leveraged 2-to-1 to the Dow Jones U.S. Oil & Gas index, lost more than 2% on Tuesday.

The SPDR S&P Retail ETF (XRT | Quote | Chart | News | PowerRating) plunged by more than 3% on Tuesday to its lowest closing level since the beginning of the month. XRT is again oversold above its 200-day moving average.

Among those ETFs that have maintained their top ETF PowerRatings are country ETFs such as the Wisdom Tree India Earnings Fund (INP | Quote | Chart | News | PowerRating) and sector ETFs like the Claymore/MAC Global Solar Energy Index ETF (TAN | Quote | Chart | News| PowerRating). TAN includes solar energy stocks such as First Solar (FSLR | Quote | Chart |News | PowerRating) and SunTech Power Holdings (STP | Quote | Chart | News |PowerRating).