A Look Ahead: Next Week's ETFs To Watch

For some reason, it doesn't feel like, but this was the best week for stocks in a month and even though Federal Reserve Chairman Ben Bernanke did not grace us with a third round of quantitative easing, the Dow Jones Industrial Average still soared to a triple-digit gain on Friday. The S&P 500 notched a 4.7% gain for the week. Curious in the market action this week is the sneaking feeling that some are getting that the bears are losing their zeal and that stocks may bounce in the near-term for no other reason than that the bears are tuckered out. So “cautiously optimistic” might be the order of the day over the next few weeks. With that, let's order up some weekend reading and look at some ETFs that will be in focus next week. Teucrium Corn ETF CORN: We've been big fans of CORN for quite a while now and “yellow gold” is arguably starting to act a lot like real gold. What we mean is that the chorus of naysayers saying corn futures are getting a little frothy is growing louder. CORN is in rally mode to be sure, but any slight bit of good weather news could stall this rally. Not to mention, CME can raise corn margins, too. They have in the past. iShares MSCI Japan Index Fund EWJ: This has been quite a week for Japan. First it was the Moody's downgrade, then it was the resignation of the country's prime minister. Friday brought a Bernanke-induced 2% pop for this ETF, but it resides below $10 and if we built a list of ETFs under $10 that were super, EWJ would not make it. Watch to see if support at $9.50 holds. Global X Silver Miners ETF SIL: The good news is, as we have noted over the past several weeks, is that gold and silver mining ETFs have started to move in almost lockstep with the underlying metals. Exceptionally volatile, SIL seems to have found firm support in the $23 area and from Friday's close, the ETF is still nearly 15% off its 52-week high. With the chart of the iShares Silver Trust SLV looking strong, SIL is a “buy” here and a very “strong buy” above $28. ProShares Ultra Financials UYG: UYG's appearance on this week's look ahead list isn't necessarily an endorsement of financials. It's not. Still, it must be acknowledged that the darkest clouds may be behind the financials, at least for the next couple of weeks. We're not endorsing the group's fundamentals. Rather, UYG's chart is attractive here and with the double leveraged kicker, this ETF can return 10% or more in a week if the bears are caught snoozing. iShares MSCI Malaysia Index Fund EWM: EWM has been plagued by emerging market woes and some tawdry political controversy at home, but the chart shows the ETF is nearing support. Malaysia offers reliable growth and a burgeoning middle class along with a lovely 3% unemployment rate. This one of the more undervalued emerging markets ETFs based on current prices.