ETFs To Watch July 23, 2010 (XLY, TMV, FXB, RSX)

Here is the ETF Profesor's ETF Watch List for Friday July 23, 2010.

Play earnings from Schlumberger (NYSE: SLB) with the Oil Services HOLDRs (AMEX: OIH).

Play earnings from Kimberly Clark (NYSE: KMB) with the Consumer Staples Select Sector SPDR (NYSE: XLP).

Play McDonald's (NYSE: MCD) earnings with the Consumer Discret Select Sector SPDR (NYSE: XLY).

On the back of some M&A and earnings news, keep an eye on the WisdomTree India Earnings ETF (NYSE: EPI).

The UltraShort QQQ ProShares (NYSE: QID) might be worth watching due to Amazon's (Nasdaq: AMZN) disappointing earnings.

The Vanguard European ETF (NYSE: VGK) could be in play on some positive news from Germany and the U.K.

The Market Vectors Russia ETF (NYSE: RSX) was up almost 4% on Thursday.

Make the CurrencyShares British Pound Sterling Trust (NYSE: FXB) your currency play for the day.

The Direxion Daily 30 Yr Treasury Bear 3X Shares (NYSE: TMV) should be an interesting bond play.

The Market Vectors Steel ETF (NYSE: SLX) was up more than 4% on Thursday.