United Kingdom, Silver And MLP ETFs To Watch This Week

Last week traders digested the Federal Open Market Committee statement along with the successful initial public offering of Alibaba Group Holding Ltd BABA. Ultimately markets hit a new high and bullish enthusiasm returned.

The week ahead promises to be jam packed with housing data and consumer sentiment numbers that may offer more clues on how the economy is performing.

Related Link: Best And Worst ETFs Of The Week Amid Alibaba Group Holding Ltd Euphoria

Here are the key ETFs to watch for the week of Monday, September 22:

iShares MSCI United Kingdom Index ETF EWU

Europe has been under pressure amidst falling currency values, anticipated quantitative easing measures and stock market volatility. However, Scotland's recent decision to remain part of the United Kingdom may be a first step toward calming this anxious region.

EWU is the largest ETF that tracks large- and mid-sized companies throughout the United Kingdom. Look for additional stability to return to EWU in the coming weeks. A break back above its 50-day moving average may be seen as a bullish sign for European equities.

iShares Silver Trust SLV

The price of silver plunged more than 3 percent Friday to a new year-to-date low that has many precious metals investors worried about further downside. SLV tracks the daily spot price of silver bullion and has declined more than 8 percent this year.

Based on relative strength readings, the weeks of sustained selling have pushed SLV into an oversold state. This sector may be ripe for a short-term bounce or counter trend rally that temporarily alleviates some of the downside momentum.

Alerian MLP AMLP

Despite the weakness in oil and natural gas prices this summer, master limited partnerships have continued to show excellent relative strength. AMLP tracks 25 of the largest MLPs engaged in pipeline, infrastructure, storage and transportation of these commodities.

This ETF pays a strong yield of 6 percent and is currently sitting near its 2014 highs. The MLP trend continues to favor higher prices and further strength may be driven by income investors catching on to this hot sector.