Unresolved eurozone debt drama and mixed economic data releases on the homefront continue to drive markets, showcasing how investors' confidence has yet to fully be restored. Amidst the back-and-forth trading across equity markets, investors and traders alike have been hard-pressed to find lucrativeopportunities without taking onsignificantrisks. Scouring the globe for favorably positioned asset classes against the uncertaineconomicbackdrop has proved to be a formidable challenge for even the most seasoned of veterans. Despite all of the seemingly never-ending doom and gloom seen across headlines, the global market is still abundant with opportunities for those with a keen eye. As such, below we highlight seven equity ETFs deemed to be in steady uptrends. The common characteristic across all of the ETFs profiled below is their ability to consistently bounce off, and move higher, along an upward slopping support line. Some may wish to take advantage by jumping in long after a major sell-off, while more experienced traders could look for opportunities to take short positions in anticipation of short-term corrections.

5. iShares Dow Jones U.S. Home Construction Index Fund (ITB)

This ETF, which tracks theDow Jones U.S. Select Home Construction Index, has been moving along higher in a well-defined trading channel since it bottomed out at $8.21 a share on October 4, 2011. From a fundamental perspective, housing market data releases have been improving, although the most recent wave of reports has been a mixed bag, perhaps explaining its recent correction. ITB has notable support at $16 a share and resistance at the $17 level.

4. Van Eck Market Vectors Biotech ETF (BBH)

BBH has been in a steady uptrend since its inception in late 2011. Health care equities have taken on appeal amidst the ongoing turbulence inEuropeas this sector is known for delivering defensive exposure, helping to stabilize many portfolios. This ETF made a recent all-time high at $51.61 a share on July 30, 2012 and is up an impressive 34% year-to-date .

3. iShares MSCI Philippines Investable Market Index Fund (EPHE)

This has been one of the best-performing funds in theEmerging Asia Pacificspace, raking in an impressive 26% gain so far in 2012. From a portfolio composition perspective, EPHE is a bit top-heavy as the top ten holdings account for just over half of total assets, potentially increasing the company-specific risk associated with this product. EPHE has notable resistance just above $30 a share, as it failed to summit this level back on May 3, 2012 .

2. PowerShares Nasdaq-100 ETF (QQQ)

Despite the mixed economic outlook at home, this U.S. equity ETF has been able to charge higher and higher with full force. QQQ has been in a steady uptrend since carving out a triple bottom at the $50 level in August and September of last year. This ETF has notable support right at its 200-day moving average (yellow line) around $62 a share.

1. iShares Morningstar Large Growth Index Fund (JKE)

U.S. growth equities have attracted serious investment dollars over the past year, despite looming economicuncertainties, as made apparent by JKE's steady uptrend. This ETF has notable resistance at $78 a share, while major support for JKE lies around the $70 level.

Follow me on Twitter@SBojinov

Disclosure: No positions at time of writing.

Related Articles
  1. Chart Advisor

    Copper Continues Its Descent

    Copper prices have been under pressure lately and based on these charts it doesn't seem that it will reverse any time soon.
  2. Options & Futures

    Cyclical Versus Non-Cyclical Stocks

    Investing during an economic downturn simply means changing your focus. Discover the benefits of defensive stocks.
  3. Mutual Funds & ETFs

    Buying Vanguard Mutual Funds Vs. ETFs

    Learn about the differences between Vanguard's mutual fund and ETF products, and discover which may be more appropriate for investors.
  4. Mutual Funds & ETFs

    ETFs Vs. Mutual Funds: Choosing For Your Retirement

    Learn about the difference between using mutual funds versus ETFs for retirement, including which investment strategies and goals are best served by each.
  5. Mutual Funds & ETFs

    How to Reinvest Dividends from ETFs

    Learn about reinvesting ETF dividends, including the benefits and drawbacks of dividend reinvestment plans (DRIPs) and manual reinvestment.
  6. Investing Basics

    How to Deduct Your Stock Losses

    Held onto a stock for too long? Selling at a loss is never ideal, but it is possible to minimize the damage. Here's how.
  7. Mutual Funds & ETFs

    Best 3 Vanguard Funds that Track the Top 500 Companies

    Discover the three Vanguard funds tracking the S&P 500 Index, and learn about the characteristics and historical statistics of these funds.
  8. Forex Fundamentals

    How to Buy Chinese Yuan

    Discover the different options that are available to investors who want to obtain exposure to the Chinese yuan, including ETFs and ETNs.
  9. Mutual Funds & ETFs

    ETF Fees: Why BlackRock is the Latest to Cut Them

    Low expense ratios are a big selling point for ETFs, but are they being focused on too much?
  10. Economics

    Is Wall Street Living in Denial?

    Will remaining calm and staying long present significant risks to your investment health?
  1. Should mutual funds be subject to more regulation?

    Mutual funds, when compared to other types of pooled investments such as hedge funds, have very strict regulations. In fact, ... Read Full Answer >>
  2. Do ETFs pay capital gains?

    Exchange-traded funds (ETFs) can generate capital gains that are transferred to shareholders, typically once a year, triggering ... Read Full Answer >>
  3. How do real estate hedge funds work?

    A hedge fund is a type of investment vehicle and business structure that aggregates capital from multiple investors and invests ... Read Full Answer >>
  4. Are Vanguard ETFs commission-free?

    While some Vanguard exchange-traded funds (ETFs) are available commission-free from third-party brokers, a large portion ... Read Full Answer >>
  5. Do Vanguard ETFs require a minimum investment?

    Vanguard completely waives any U.S. dollar minimum amounts to buy its exchange-traded funds (ETFs), and the minimum ETF investment ... Read Full Answer >>
  6. Can mutual fund expense ratios be negative?

    Mutual fund expense ratios cannot be negative. An expense ratio is the sum total of all fees charged by an asset management ... Read Full Answer >>

You May Also Like

Trading Center