Exchange traded funds tracking major domestic stock indexes closed near session highs Tuesdays, with energy leading the S&P 500 higher.
Chip and diversified technology ETFs popped Tuesday as investors and consumers await the debut of new iPhones at a special event. The tech-heavy PowerShares QQQ ( QQQ ), tracking the Nasdaq 100 index, posted an all-time closing high of 117.85.
Technology Select Sector SPDR ( XLK ) added 0.5% Tuesday, ending at a 52-week high of 47.59. Apple ( AAPL ) is the No. 1 holding in the exchange traded fund, with a 13% portfolio weighting. The company's latest iPhones are set to be unveiled Wednesday.
[ibdchart symbol="XLK" type="daily" size="full" position="leftchart" ]
Apple's converging 50-day and 200-day moving averages indicate its performance over the shorter term has improved . With recent repairs to the chart, the stock is now shaping a handle with a potential buy point at 110.33.
VanEck Vectors Semiconductor ( SMH ) brushed against a multiyear high of 67.08 in morning trade, but the fund finished flat.
Highly rated IBD stocks and Apple parts suppliers Intel (INTC ) and Broadcom ( AVGO ) are near buy points.
IBD'S TAKE:To find highly rated ETFs from the best industry groups, check outETF Center .
Gold prices rose on Tuesday as the dollar fell hard. A disappointing jobs report Friday set back expectations that interest rates may rise in September.
SPDR Gold Shares (GLD) broke through resistance at the 50-day moving average. GLD fell below that key test of institutional support in late August as higher odds of a rate hike weighed on the yellow metal.
Higher rates tend to raise the opportunity cost of holding gold, a nonyielding safe haven asset, while boosting the dollar in which it is priced.
[ibdchart symbol="gld" type="daily" size="full" position="leftchart" ]
VanEck Vectors Junior Gold Miners (GDXJ) jumped nearly 7% on the stock market today . It also retook the 50-day in above-average trading volume.
VanEck Vectors Gold Miners (GDX), which focuses on large-caps in the gold mining space, added nearly 5%.
Gold prices were higher Tuesday on short covering in the futures market, wrote Kitco senior technical analyst Jim Wyckoff. Silver shared in the gains.
PureFunds ISE Junior Silver (SILJ), a mining ETF, jumped 8% Tuesday.
12 Bellwether ETFs
Here's how major exchange traded funds across major asset classes performed today, with IBD Relative Price Strength Ratings.
The RS Rating is a measure of a stock's price performance over the last 12 months, compared with all stocks and ETFs, on a scale of 1 to a best-possible 99.
Following daily ETF market action can be key to successful investing:
SPDR S&P 500 (SPY), +0.3%, RS 55
PowerShares QQQ ( QQQ ), +0.6%, RS 59
SPDR Dow Jones Industrial Average (DIA), +0.2%, RS 55
IShares Core S&P Mid-Cap (IJH), -0.2%, RS 62
IShares Russell 2000 (IWM), +0.1%, RS 62
IShares MSCI EAFE (EFA), +0.7%, RS 36
Vanguard FTSE Emerging Markets (VWO), +1.7%, RS 73
SPDR Gold Shares (GLD), +1.7%, RS 68
United States Oil (USO), +1.5%, RS 12
IShares Core U.S. Aggregate Bond (AGG), +0.2%, RS 36
PowerShares DB U.S.$ Bullish (UUP), -1.2%, RS 27
IPath S&P 500 VIX Short-Term Futures (VXX), -2.6%, RS 1
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.