NEW YORK ( TheStreet) -- Here are five ETFs to watch this week.PowerShares QQQ ( QQQ)
Weekly momentum readings for the ETFs for the Dow 30, S&P 500, Nasdaq 100 and Russell 2000 remain overbought, but not for Dow transports.
The exchange-traded funds that track the Dow and the S&P 500 reached new highs last week.
The weekly charts for U.S. Treasury bonds, gold and utility stocks are back into consolidation mode, but these 'flight to safety' investments still outperform stocks year to date.
Doug Kass also shares his thoughts on 'Peak Hedge Funds' and cautions us all to avoid the brown acid.