An Israeli oil and gas producer and a quartet of double-short ETFs are the ways to play the next week in the market.Was there great import in the market's modest moves Monday?Stocks ended the day at roughly break-even levels. But the closing figures may tend to obscure the reality of how the markets actually behaved on the first trading day of the week.

What we saw was a market that opened Monday morning already exceptionally overbought, and continued to become increasingly overbought over the first half of the trading day. But shortly after lunch time, the profit-taking everyone knew would develop eventually began in earnest, retracing the day's earlier gains in the S&P 500 and Dow Jones industrial average and actually resulting in significant losses for the Nasdaq.

By the end of the day, the S&P 500's primary ETF proxy, the SPY, and the Dow's most widely traded ETF stand-in, the DIA, each earned Short-Term PowerRatings of 2.The QQQQ, which is the ETF that represents the top 100 stocks in the Nasdaq, has a slightly higher Short-Term PowerRating of 3, most likely the result of Monday's sell-off, which helped reduce the oversold conditions in that market....

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