EXCHANGE TRADED

BY TRANG HO

INVESTOR'S BUSINESS DAILY

Posted 3/23/2009

News of the Treasury Department's plan to clear bad assets off the books, along with a rise in home sales, jolted the market to its highest level in five weeks.

SPDR KBW Bank (KBE), Regional Bank HOLDRs (RKH), Financial Select Sector SPDR (XLF), iShares Dow Jones US Financial Sector (IYF) and other financial ETFs led the S&P 500's massive 7% surge after a two-day pause. The ETFs each rallied 14% to an eye-popping 19%.

Although volume rose more than average, it was lower than in the rally's first week, which started March 9. All three ETFs cleared their 10-week moving averages but face resistance at their February peaks.

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