This post highlights the week's leading and lagging Exchange Traded Funds (ETF) and is designed to supplement the data you can find in our ETF center. The graph below is based on a select list of ETFs that I follow and reflect the returns from last Friday's close through this afternoon.

Last week we saw a firm upside bias as more than 90% of the funds on my list were higher. This week we find that the momentum slowed as there was more of a balance. A little over half, 57%, of my list was higher while 43% was lower.

The PowerShares Networking (PXQ) and iShares DJ U.S. Telecomm (IYZ) funds topped the list. We also had mild strength in real estate and financials. Meanwhile, ETFs related to precious metals and energy were weak.

The Gold Miners ETF (GDX) was hit for nearly 9% while the iShares Silver Trust (SLV) was down more than 5%. The Oil Service HOLDRS (OIH) was also relatively weak.

Looking ahead to next week, keep an eye on the Gold Miners ETF (GDX). As the weekly chart below shows, the ETF is approaching a significant support zone. The area around 42-43 served as resistance from mid-2006 until the fall of last year. The GDX then bounced off this zone in December when it tested that former resistance as support.

Chart Courtesy of Thomson Financial