A Look Ahead: This Week's ETFs to Watch

Last week was an uneventful one, but when the closing bell rang Friday, the Dow Jones Industrial Average had risen 0.1 percent for the week, the S&P 500 was flat and the Nasdaq Composite was the leader with a gain of 0.7 percent.

The coming week promises to be a far less docile affair. Not only will investors be treated to another Federal Reserve meeting (does it not feel like as though the central bank just met?) and the July jobs report on Friday. With another jobs report looming, that means the end of the month is near and that could make for some window-dressing by fund managers.

However, it is fair to say that nearly everyone knows the Fed and the jobs report will chart stocks' near-term course. With August, typically a weak month for stocks, right around the corner, here's to hoping the Fed remains cooperative, or shall we say accommodative? Here are just a few of the ETFs that will be in focus this week.

Market Vectors Gold Miners ETF GDX
Still down more than 40 percent year-to-date, the Market Vectors Gold Miners ETF has been enjoying a renaissance of sorts in recent weeks. GDX has surged 24.1 percent in the past month and plenty of its rivals have gone along for the ride.

Crucial to the fortunes of GDX and practically every other gold and silver-related ETF on the market will be the result of the Fed meeting. All Ben Bernanke and friends need to say is four words: "No tapering anytime soon." That should be enough for GDX to keep climbing higher.

Related: Einhorn Letter Lifts These Two ETFs.

Energy Select Sector SPDR XLE
Or the Vanguard Energy ETF VDE or the iShares U.S. Energy ETF IYE. The reason being is that oil earnings season kicks into high gear this week. Occidental Petroleum OXY gets things started on Tuesday.

From there, ConocoPhillips COP, Exxon Mobil XOM and Chevron CVX also report. Those four stocks combine for nearly 40 percent of XLE's weight. Interesting tidbit: Of the 815 companies that have already delivered earnings report, 65.2 percent have beaten estimates, but the "beat rate" in the energy sector is just 58 percent, fourth-worst of the 10 major sectors, according to Bespoke Investment Group.

Health Care ETFs
There is something to buying stocks and ETFs that are hitting new all-time highs and that is why "health care ETFs," not a particular ETF made the list.

Consider this: On Friday, 17 ETFs and ETNs made new all-time highs. Nine of those funds were health care plays. Familiar names on the list include the Health Care Select Sector SPDR XLV, the Vanguard Health Care ETF VHT and the PowerShares Dynamic Pharmaceuticals Portfolio PJP.

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