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Banks Gain, But Gold Dips; Which Big ETF Is In Buy Range?

Small cap ETFs lagged as the major market indexes were narrowly mixed Tuesday. (AP)

Bank, utility and real estate ETFs led the upside Tuesday afternoon, while gold and retail lagged.

SPDR S&P Regional Banking (KRE) and SPDR S&P Bank (KBE) rose 0.9% each as they move off the bottom of their respective flat bases. Goldman Sachs (GS) and JPMorgan (JPM), up 0.9% and 0.8, were among top gainers on the Dow Jones industrial average.

Utilities Select Sector SPDR (XLU) gained 0.9%, extending its Monday breakout past a 52.33 cup-with-handle entry. It's still in buy range. The $7.2 billion ETF advanced 6% after clearing a cup-with-handle base in March 2016 and a subsequent flat base in June. XLU pays a 3.2% annualized dividend.

In the real estate space, iShares U.S. Real Estate (IYR) edged 0.5% higher as it works on the handle to a cup base with an 81.28 buy point. Vanguard REIT Index Fund (VNQ) added 0.3%.

Gold funds fell along with gold futures, which were down 0.5% to $1,254.80 an ounce. VanEck Vectors Junior Gold Miners (GDXJ) dropped 3% VanEck Vectors Gold Miners (GDX) gave up 1.6%. IShares Gold Trust (IAU) and SPDR Gold Trust (GLD) were down 0.5% each; PowerShares DB Gold (DGL) slid 0.3%.

Oil ETFs were mixed. VanEck Vectors Oil Services (OIH) slipped 0.4%, while SPDR S&P Oil & Gas Exploration & Production (XOP) was off 0.1%. But PowerShares DB Oil (DBO) and United States Oil (USO) climbed 0.4% and 0.5% respectively. West Texas intermediate oil prices edged 0.2% higher to $51.21 a barrel.

IShares Core S&P Small-Cap (IJR) reversed upward with a 0.2% gain; iShares Russell 2000 (IWM) also advanced 0.2%.

SPDR S&P Retail (XRT) fell 1.2%, weighed down by DSW (DSW), which slumped 6% to a six-year low after reporting mixed quarterly results.

VanEck Vectors Semiconductor (SMH) declined 0.4% and iShares PHLX Semiconductor (SOXX) 0.6%. Graphics chip designer Nvidia (NVDA) fell 1.8%.

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