5 ETFs to Watch This Week

PowerShares QQQ (QQQ)

Earnings season continues this week with hundreds of companies scheduled to step up to the plate. Tuesday will likely be the most hotly anticipated day as investors anxiously await Apple's (AAPL) report.

The California-based consumer technology giant remains an investor darling. However, in recent days, the mood surrounding the firm has soured considerably. Over the past two weeks, the company has struggled to find footing and has retreated toward its 50-day moving average.

A strong earnings showing from Apple will provide some welcomed relief for QQQ. Apple holds a 19.2% (soon to be a still-large 12%) weighting in the Qs, which tracks the Nasdaq-100 index. Over the past week, the fund has underperformed ETFs designed to track other major stock market averages.