Investors focused on a pending vote on health care reform in the House, but health care was neither the winner nor the loser for the week. Instead, smaller emerging markets continue to gain, while the weakest sector ETFs return once again.
In response to this dismal report, energy ETFs heavily exposed to the natural gas industry suffered a big hit. The decline was led by the infamous UNG, which has been in a free fall throughout 2010. Aside from brimming supply, commodity-backed natural gas ETFs may have additional trouble brewing ahead of them as warmer spring weather weakens heating demand for the fuel. iShares MSCI Chile Investable Market Index Fund ( ECH) -5.1% iShares Chile has continued to falter as the nation works to clean up from the earthquake at the end of February. From a technical perspective, ECH broke below its 50-day moving average at the start of this week. If the fund shows signs of reversing in the near future, investors should keep an eye on this level as ECH has hovered there since the start of February, but failed to make a sustained move higher. Market Vectors Solar Energy ETF ( KWT) -3.9% Claymore/MAC Solar Energy Index ETF ( TAN) -5.3% Though solar energy ETFs saw a bounce through the first half of March this week, that rally faltered, and the funds headed lower. Solar energy has struggled recently as the U.S., Europe and other green energy leaders around the world shy away from their alternative energy initiatives in favor of battling growing debt.