TradingMarkets 7 ETFs You Need to Know for Friday

Among the bigger declines among widely-traded ETFs, the 16% drop in the ProShares UltraShort Financials exchange-traded fund, SKF (AMEX:SKF - News ), on Thursday brought the fund below its 200-day moving average.

At the same time, the increasingly overbought ProShares Ultra Financials ETF, UYG (AMEX:UYG - News ), was up more than 18% on Thursday. UYG trades below its 200-day moving average and closed above its 5-day moving average for the first time in seven days.

The Thursday pullback in the ProShares UltraShort S&P 500 ETF, SDS (AMEX:SDS - News ), brought the fund down by more than 7%. SDS still trades more than 10 points above its 200-day moving average.

Soaring yesterday, the Select Gold Shares SPDRS, GLD (NYSE:GLD - News ), finished Thursday near the lows of the session. The EFT, trading below its 200-day moving average, remains exceptionally overbought.

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