October 08, 2013 at 10:30 AM EDT
Two ETFs That Could See Some Buying Interest
NYSEARCA:EWJ, NYSEARCA:PPA Related posts: Not Much Interest In Buying Dip Ahead of Fed Minutes Three ETFs To Avoid As Interest Rates Rise Three New ETFs Attracting Investor Interest Investors Dump REIT ETFs As Interest Rates Rise Insurance Stock ETFs For Higher Interest Rates

sellbuyMorpheus Trading: Stocks sold off in the morning session and (once again) into the close, resulting in losses of roughly 1% or lower in each of the major indices. However, turnover was lighter on both exchanges, so it was technically not a distribution day. Although some leading stocks sold off by 4% or more, we did not see heavy volume technical damage to the charts, which is our main concern when the broad market is in pullback mode.

Taking an updated look at the NASDAQ Composite, a break below the 20-day exponential moving average should lead to a test of the 3,700 level, where there is a significant area of support from the prior highs of the last base, as well as the rising 10-week moving average (or 50-day moving average):

$NASDAQ pullback

PowerShares Aerospace & Defense ETF (NYSEARCA:PPA), which we initially analyzed last week, has pulled back alongside of the major averages, and is now attempting to hold support of its rising 50-day moving average (the prior low-risk buy point two days ago).

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Related posts:

  1. Not Much Interest In Buying Dip Ahead of Fed Minutes
  2. Three ETFs To Avoid As Interest Rates Rise
  3. Three New ETFs Attracting Investor Interest
  4. Investors Dump REIT ETFs As Interest Rates Rise
  5. Insurance Stock ETFs For Higher Interest Rates

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