Market ETF's started the week strong but Tuesdays decline all but evaporated Monday's gains. The S&P 500 ETF (SPY  ) was able to continue Monday from Fridays bounce, but was not immune to Tuesday's selloff. The SPY's back and forth performance puts it down over 1% now for the week.

The Nasdaq 100 ETF (QQQ  ) continues to struggle this week as well as this year. Down over 5% now for 2016 the QQQ found more weakness Tuesday despite a strong showing from tech heavyweight Apple (AAPL  ). Although the week is still young the QQQ shows a loss of 2.5%.

Leading the top performing ETF's list so far this week is the Volatility products. With Tuesday's gap lower and sell off, Volatility related ETF's such as the (VXX  ) have seen nice, one day rally's. The VXX popped over 4% Tuesday adding to its gains for the week. Volatility is currently trading at 52 week lows, but Tuesday's decline saw investors purchasing some protection. All Volatility related ETF's have gains of greater than 4% this week so far.

The Gold mining sector appears to be cooling off this week as the (GDX  ) is on a two day losing streak. Traders have noted some profit taking and who can blame them. With almost an 80% rally on the year it would seem normal that some long positions get converted to cash. Junior gold mining (GDXJ  ) has also started the week to the downside. With this kind of over extension, traders expect a pullback.

Lastly, the Japanese Yen continues its rally this week, posting a solid 4.77% gain so far. Tuesday the Yen made fresh 52 week highs, and while it's been a bumpy ride, the Yen has managed to gain 12.7% this year. Traders who are looking to participate in this performance can do so using a popular Yen ETF (FXY  ).