Silver, Water And Russia ETFs To Watch This Week

The SPDR S&P 500 ETF SPY will start the week from its lofty perch of new all-time highs, which will pressure the bulls to capitalize on Friday’s strength. Nearly every breakout attempt this year has been foiled by a reversion back to the broad trading range that has developed over the last several months.

Nevertheless, several important events this week have the potential to impact trading and investor sentiment. Minutes from the latest FOMC meeting will be released on Wednesday, in addition to home sales data and the April consumer price index later on in the week.

Here are the key ETFs to watch for the week of Monday, May 18:

iShares Silver Trust SLV

Silver prices have jumped substantially since hitting a bottom in March and SLV has just recently broken out above its 200-day moving average as well. This heavily traded ETF tracks the daily spot price of silver bullion and currently has over $5.5 billion in total assets.

Over the last several years, silver prices have experienced the same free fall as the majority of precious metals. However, the potential exists that a new trend in SLV may be forming and commodity investors would be wise to keep an eye on this ETF. 

Related Link: Big-Box Retailers Step Into The Spotlight For Earnings This Week

PowerShares Water Resources Portfolio PHO

Water resources companies experienced a big jump last week, which sent PHO more than 3 percent higher. This ETF is comprised of 28 stocks engaged in the business of purifying and delivering clean water to homes and businesses.

Despite mostly sideways price action over the last year, the small- and mid-cap companies that make up PHO have recently shown positive signs of momentum. The urgency over the California drought situation combined with other cyclical factors make this ETF an important sector of the market to monitor.

Market Vectors Russia ETF RSX

The Russian stock market has been one of the bright spots in international markets so far in 2015 and recently touched new year-to-date highs. RSX tracks 50 large- and mid-cap stocks domiciled in Russia and has gained more than 42 percent this year.

The continued strength in this ETF on the back of a rebound in oil prices has been a positive sign for economic conditions in Eastern Europe. This nation, along with China, will be an important indicator of staying power for many broad-based emerging market ETFs as well.