3 Important ETFs Sitting On Support

The S&P 500 has pulled back 3 percent from its all-time high, while the bears continue to pound the table and throw around the word "bubble." They have been wrong for years, and once again they will walk away with their tails between their legs.

The recent pullback is nothing more than a normal gyration within a strong bull market.

Three sector ETFs are sitting on support to offer investors attractive reward-to-risk setups:

The iShares U.S. Home Construction ETF ITB, which follows 37 U.S.-based companies that in one way are involved with the construction of residential homes. The top weighted sectors in the ETF are household durables at 70 percent and building materials at 13.4 percent.

The top individual holdings include Lennar Corp LEN with a 10.8 percent holding, D.R. Horton Inc DHI making up 10.8 percent and Pulte Homes Inc PHM with 9 percent.

ITB is up 7 percent over the last 12 months and up 13 percent over the last six months. The ETF is currently sitting on price support as well as its 50-day moving average, both at the $26.50 area. The ETF has an expense ratio of 0.43 percent.

The iShares MSCI Japan ETF EWJ, which follows 313 Japanese companies across 11 industries, with consumer discretionary at 23 percent, industrials at 19 percent and financials at 18 percent - making up a large portion of the portfolio.

The top individual holdings include Toyota Motor Corp TM at 6.6 percent, Mitsubishi Financial Group Inc. MYU at 2.8 percent and Honda Motor Ltd HMC at 1.9 percent.

The ETF is up 6 percent over the last 12 months and up 3 percent over the last six months. It is sitting on price support in the $12 area with a 50-day and 200-day moving average near $11.75. The ETF has an expense ratio of 0.49 percent.

The Market Vectors Gold Miners ETF GDX follows 38 small, mid and large cap companies around the world, which are primarily involved in the gold mining sector. The top holdings include Goldcorp Inc GG at 10.2 percent, Barrick Gold Corp ABX making up 8.5 percent, and Newmont Mining Corp NEM totaling 7.5 percent.

GDX is down 31 percent over the last 12 months and down 26 percent over the last six months. It is not in a similar uptrend as the first two ETFs, but it is sitting on price support in the $17 area. GDX has an expense ratio of 0.53 percent.