iShares MSCI USA Momentum Factor ETF (NYSE: MTUM)
Momentum stocks were some of the hardest-hit areas of the market last week -- as high flying biotech, consumer discretionary and technology names fell precipitously. MTUM is designed to choose a subset of large and mid-cap stocks that have the highest excess returns over the last 6 and 12-month time frames.
Despite the weak opening on Monday morning, these market leaders have the opportunity to turn around their recent misfortunes if we see stabilization in the broader market. The relative strength for momentum stocks has now moved into oversold territory, and many traders are watching these names carefully for indications of a bounce that may signal a short-term opportunity.
Related: Dividend ETFs Continue Their Winning Ways
Materials Select Sector SPDR Fund (NYSE: XLB)
Materials stocks are likely to be closely followed this week, as Alcoa Inc (NYSE: AA) unofficially kicks off earnings ...
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