Rally running into Stumbling Blocks and Oversold conditions..

As you have seen market ran up and made great strides. Some of the stocks made almost 30% + moves (see the list below).

After that few days of thrust, the rally immediately ran into trouble with bad job number (18,000 jobs added instead of forecasted 125,000, that is a huge miss).

Now with this pullback we are at very critical junction, We are sitting on the 50d SMA with stochastics in the oversold zone. This 50 d MA zone is one critical zone where market cannot sit on for long as you can see from the past history.. (this is even true for stocks).

With Earnings around the corner, with Google stunning the streets with positive kicker and QE3 chatter and  oversold conditions, we are due for an attack back to highs created earlier this month.

As with anything, we trade the price action and trade accordingly.

Some of the ETFs of interest, here are as follows:
SLV, FXC, IEO, GDX, IDX, IGE, EWJ, ITF, FXY, JJC and IYE