by Robert W. Colby, Senior Analyst TraderPlanet.com

Stock Market: S&P 500 closed at its lowest close in 3 months.
The path of least resistance is still down.

DJIA and NYSE A-D Line confirmed.

Consumer confidence fell 13% to its lowest level in 16 years.

On Tuesday, major stock price indexes opened lower and fell further into the red to a 10:01 a.m. low on news from the Conference Board of plunging consumer confidence. Stocks reversed to the plus side for more than 3 hours but slid back down into the red in the final 2 hours. Most stocks closed lower, with Energy and Materials Stock Sectors losing the most. The S&P 500 closed at 1,314.29, down 3.71 points or 0.28%. Total NYSE volume rose 12%, suggesting rising selling pressure.

The breadth of the market was Bearish again. The Advance-Decline Balance ((A-D) / (A+D)) was -37.30%, the Up-Down Volume balance ((Up-Dn) / (Up+Dn)) was -3.48%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -78.51% on the NYSE. The Cumulative Daily A-D Line for the NYSE made a new 3-month low, while the A-D Line for the Nasdaq fell to another new multi-year low.

The S&P 500 has fallen 7.87% since its rally high close of 1,426.63 on 5/19/08. Consistently, I have been assuming that the March-May rally was nothing more than a counter-trend rally and Secondary Reaction Continuation Pattern within the context of a Primary Bearish Trend. The sum total weight of the evidence for the stock market in general appears to be taking on a more Bearish tilt again since the rally top on 5/19/08. The short-term general market action has been subject to rapid and frequent change, so a cautious approach still seems prudent.

Spotlight on event stocks: Here is a stock screen I designed to pick out potential “event” stocks, both Bullish and Bearish. Sometimes, stocks with large changes in price and volume are revealed to be deal stocks, sooner or later, or are the subject of some other extraordinary events, positive or negative.

Bullish Stocks: Rising Price and Rising Volume
% Price Change, Symbol , Name

17.70% , CTL , CENTURYTEL
13.70% , EK , EASTMAN KODAK
6.94% , LRCX , LAM RESEARCH CORP
3.75% , UST , UST
7.89% , FMCN , Focus Media, FMCN
7.32% , KBH , KB HOME
7.31% , DHI , D.R. HORTON, DHI
7.00% , KR , KROGER
0.85% , MYY , Short 100% MidCap 400, MYY
4.36% , WOR , WORTHINGTON INDS
7.45% , CTX , CENTEX
2.75% , YHOO , YAHOO
6.80% , LEH , LEHMAN BROS HLDG
3.10% , DRI , DARDEN REST
3.88% , LEN , Lennar Corp. (LEN)
5.90% , SNV , SYNOVUS
3.28% , RTN , RAYTHEON
4.51% , RF , REGIONS FINAN
0.51% , IGW , Semiconductor iS GS, IGW
1.80% , MZZ , Short 200% MidCap 400 PS, MZZ
0.77% , KCE , Capital Markets KWB ST, KCE
5.56% , WB , WACHOVIA
2.87% , RKH , Bank Regional H, RKH
2.99% , SVU , SUPERVALU
3.45% , KEY , KEYCORP
4.72% , CFC , COUNTRYWIDE FNCL
0.93% , HMA , HEALTH MGMT STK A
5.05% , S , SPRINT NEXTEL
3.87% , WFC , WELLS FARGO
3.15% , CAG , CONAGRA FOODS
3.31% , NVDA , NVIDIA
1.86% , KG , KING PHARM
1.10% , CR , CRANE
3.76% , VIA.B , VIACOM STK B
1.58% , MTB , M&T BANK
0.90% , PPH , Pharmaceutical H, PPH
3.35% , MRK , MERCK & CO
1.77% , ACE , ACE
2.69% , BMY , BRISTOL MYERS
4.01% , PNC , PNC FINL SVC

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol , Name

-1.19% , RFG , Growth MidCap S&P 400, RFG
-6.04% , UPS , UNITED PARCEL STK B
-10.92% , SSCC , Smurfit-Stone Container Corporation
-0.45% , TTH , Telecom H, TTH
-5.25% , KSU , Kansas City Southern, KSU
-6.62% , CAR , Avis Budget Group, Inc. (CAR)
-8.18% , HANS , Hansen Natural, HANS
-1.42% , PKB , Building & Construction, PKB
-4.96% , EMR , EMERSON ELECTRIC
-7.18% , PWER , POWER ONE
-2.38% , VAW , Materials VIPERs, VAW
-4.31% , BLL , BALL
-4.46% , CTB , COOPER TIRE
-4.20% , CAT , CATERPILLAR
-3.85% , TIF , TIFFANY
-4.41% , MON , MONSANTO
-1.28% , NYC , LargeCap Blend NYSE Composite iS, NYC
-2.42% , PBW , WilderHill Clean Energy PS, PBW
-1.25% , VNQ , REIT VIPERs, VNQ
-1.90% , XLB , Materials SPDR, XLB
-3.22% , QCOM , QUALCOMM
-3.04% , ROH , ROHM & HAAS
-2.36% , IFF , INTL FLAV & FRAG
-4.84% , ASH , ASHLAND
-4.07% , XMSR , XM Satellite R
-2.76% , DOW , DOW CHEMICAL
-1.95% , IYT , Transportation Av DJ, IYT
-2.84% , RHI , ROBERT HALF
-3.32% , DD , DU PONT
-3.08% , ECL , ECOLAB
-3.04% , CCE , COCA COLA ENTER
-3.59% , HPC , HERCULES
-1.02% , VO , MidCap VIPERs, VO
-2.40% , PXE , Energy Exploration & Prod, PXE
-2.81% , CSX , CSX
-2.63% , TMO , THERMO ELECTRON
-2.56% , MVV , Ultra MidCap400 Double, MVV
-2.68% , WM , WASHINGTON MUT
-2.87% , MOLX , MOLEX
-3.63% , SIRI , Sirius Satellite

Sectors: among the 9 major U.S. sectors, 4 rose and 5 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol

1.16% Financial SPDR, XLF
0.41% Consumer Discretionary SPDR, XLY
0.36% Health Care SPDR, XLV
0.33% Consumer Staples SPDR, XLP
-0.13% Technology SPDR, XLK
-0.83% Utilities SPDR, XLU
-1.20% Industrial SPDR, XLI
-1.90% Energy SPDR, XLE
-1.90% Materials SPDR, XLB

Primary Tide Trends for the 9 major sectors last for years. Here are my up-to-date Relative Strength Rankings, as measured with emphasis on these long-term Primary Tide Trends (listed in order of long-term relative strength):

Energy (XLE) Neutral, Market Weight. On 6/23/08, XLE/SPY Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.

Materials (XLB) Neutral, Market Weight. On 6/23/08, XLB/SPY Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.

Utilities (XLU) Neutral, Market Weight. On 6/23/08, XLU/SPY Relative Strength Ratio rose to a new all-time high, confirming a major uptrend. Since 10/17/02, the XLU/SPY Relative Strength Ratio has outperformed substantially.

Consumer Staples (XLP) Neutral, Market Weight. On 6/10/08, XLP /SPY Relative Strength Ratio rose to another new 8-week high. For nearly 8 years, since 9/27/00, the XLP/SPY Relative Strength Ratio has outperformed, so the long-term trend is up.

Technology (XLK) Neutral, Market Weight. On 6/6/08, the XLK/SPY Relative Strength Ratio rose to a new 5-month high, confirming an improving intermediate-term trend.

Industrial (XLI) Bearish, Underweight. On 6/16/08, the XLI/SPY Relative Strength Ratio fell to its lowest level in 4 months. Since 3/31/08, the XLI/SPY Relative Strength Ratio has underperformed.

Health Care (XLV) Bearish, Underweight. On 6/20/08, the XLV absolute price fell to its lowest level in nearly 2 years, since 7/18/06. Since 10/9/02, the XLV/SPY Relative Strength Ratio has underperformed substantially. On 5/15/08, the XLV/SPY Relative Strength Ratio fell to another new 6-year low, again confirming the existing Primary Bearish trend.

Consumer Discretionary (XLY) Bearish, Underweight. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially. On 1/11/08, the XLY/SPY Relative Strength Ratio fell to a new 6-year low, confirming a major downtrend.

Financial (XLF) Bearish, Underweight. On 6/23/08, the XLF absolute price fell to its lowest level in more than 5 years, while the XLF/SPY Relative Strength Ratio fell to its lowest level in 8 years. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially.

Foreign stock index EFA absolute price on 6/20/08 fell to its lowest level in nearly 3 months, since 3/24/08. EFA Relative Strength Ratio broke down to another new 11-week low on 6/13/08. Since 5/23/08, EFA has underperformed the U.S. stock market. Previously, EFA outperformed from 2/8/08 to 5/23/08 and, longer term, since the major bottom on 3/12/03. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.

NASDAQ Composite has been outperforming the S&P 500 since 3/3/08. On 6/19/08, NASDAQ Composite Relative Strength Ratio rose to a new 8-month high.

Growth Stock/Value Stock Relative Strength Ratio rose to another new 3-year high on 6/23/08. Long term, the Growth/Value ratio (IWF/IWD) has been in an uptrend since 8/8/06.

The Small Cap/Large Cap Relative Strength Ratio rose to a new 11-month high on 6/20/08. The major trend appears to be turning to Small Caps.

Crude Oil July futures contract tried to rally but closed little changed within its 12-day trading range. Oil appears to be consolidating sideways for the short term, but trends are still Bullish in longer time frames. U.S. OIL FUND ETF (AMEX: USO) is not a pure play on Crude Oil, although it generally moves in the same direction.

The Energy stock sector has underperformed Crude Oil since 12/10/07.

Gold August futures contract price recovered only a small fraction of Monday’s steep loss. Last week, I noted here that Gold might be getting a bit overbought on a short-term trading basis. Gold has been in a choppy downside correction since 3/17/08. On 6/12/08, gold broke down below previous 6-week lows to confirm an intermediate-term downtrend.

U.S. Treasury Bond September futures contract rose above the highs of the previous 10 trading days. But after a 5 day advance, Bonds might attract profit taking soon.

The U.S. dollar eased moderately lower. The dollar has been in a choppy sideways trading range since its low on 3/17/08. The long-term Primary Tide trend is still Bearish.

The Art of Contrary Thinking: Traders need to be extremely nimble to keep up with rapid changes in the mass mood of late. The business and financial news has flipped from fear to hope and back again many times in recent months, creating an extremely choppy trading environment. Investors’ moods and stock volatility have jumped up and down abruptly with the latest “reports”. When mass psychology shifts so dramatically and unpredictably from hope to fear, without warning, risk control becomes more important than aggressive profit seeking. Stay flexible.

Sentiment/Contrary Opinion: There were 36.3% Bulls versus 37.4% Bears as of 6/20/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio fell to 0.97, down from 1.32 the previous week. The ratio’s 38-year range is 0.28 to 17.51, and the median is 1.47.

VIX “Fear Index” is now at 22.42. VIX fell from a peak of 32.64 on 3/17/08 to a low of 16.30 on 5/15/08, indicating decreasing Fear. The all-time high was 45.74 on 10/8/98. The all-time low was 9.89 on 1/24/07. VIX is a market estimate of expected constant 30-day volatility, calculated by weighting S&P 500 Index CBOE option bid/ask quotes spanning a wide range of strike prices for the two nearest expiration dates.

VXN “Fear Index” is now at 28.14. VXN fell from a peak of 35.63 on 1/22/08 to a low of 20.00 on 5/16/08, indicating decreasing Fear. The all-time high was 114.23 on 10/8/98. The all-time low was 12.61 on 7/29/05. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.

CBOE Put/Call Ratio is 0.70, which indicates only slightly Bearish sentiment. Its 4-year simple moving average and median are 0.62, and its 4-year range is 0.35 to 1.28.

ISEE Call/Put Ratio is 1.15, which indicates Bearish sentiment. The ratio’s 4-year simple moving average is 1.50, 4-year median is 1.47, and 4-year range is 0.51 to 3.04.

Fundamentals: The 2003-2007 Bull Market was fed by abundant global liquidly, M&A, leveraged buyouts, corporate stock buybacks, and the net balance of positive earnings surprises. The unfolding fallout from the subprime credit market crisis has derailed that engine. Economic statistics and corporate earnings have weakened.

A Secondary Reaction was signaled on 4/18/28, when the Dow-Jones Industrials and Transports both closed at 3-month highs. But the Primary Tide Major Trend still may be Bearish. On 6/5/08, the Transportation Average closed above its previous all-time closing high, while the Industrial Average languished far below its all-time closing high of 14,164.50 set on 10/9/07. Such a non-confirmation and divergence means that the companies that produce the goods are not keeping pace with the companies that deliver the goods, the market is out of balance, and there is no Buy Signal because the Dow Theory requires both Averages to make new highs. The Dow Theory confirmed a Primary Bear Market on 11/21/07 when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed below their respective closing price lows of August, 2007.

To discover the next Resistance, traders probably will be watching how the market acts at the following levels for the Standard & Poor’s 500 cash index (1,314.29):

Potential Resistance
1,576.09, high of 10/11/2007
1,552.76, high of 10/31/2007
1,523.57, high of 12/11/2007
1,498.85, high of 12/26/2007
1,440.24, high of 5/19/2008
1,406.32, high of 5/29/2008

To discover the next Support, traders probably will be watching how the market acts at the following levels for the S&P 500 cash index (1,314.29):

Potential Support
1,256.98, low of 3/17/2008
1,224.54, low of 7/18/2006
1,219.29, low of 6/14/2006
1,214.45, low of 11/4/2005
1,201.07, low of 11/2/2005
1,168.20, low of 10/13/2005
1,163.23, high of 3/5/2004
1,159.86, low of 5/17/2005
1,153.64, low of 5/16/2005
1,146.18, low of 5/13/2005
1,139.14, low of 4/29/2005
1,136.37, low of 4/20/2005

Daily Rankings of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol

2.87% Bank Regional H, RKH
2.57% Homebuilders SPDR, XHB
1.86% Financial Services DJ, IYG
1.80% Short 200% MidCap 400 PS, MZZ
1.37% Telecommunications & Wireless, PTE
1.27% Dividend Leaders, FDL
1.16% Financial SPDR, XLF
1.13% Financial DJ US, IYF
1.11% Financials Global LargeCap Value, IXG
0.90% Pharmaceutical H, PPH
0.85% Short 100% MidCap 400, MYY
0.77% Capital Markets KWB ST, KCE
0.66% Pharmaceuticals, PJP
0.66% Bond, 20+ Years Treasury, TLT
0.61% Bond, TIPS, TIP
0.59% Semiconductor H, SMH
0.55% Dividend High Yield Equity PS, PEY
0.53% Bond, 10 Year Treasury, IEF
0.51% Semiconductor iS GS, IGW
0.50% Short 200% QQQ PS, QID
0.45% Healthcare Global, IXJ
0.44% Gold Shares S.T., GLD
0.43% Belgium Index, EWK
0.43% Retail H, RTH
0.42% Switzerland Index, EWL
0.41% Consumer Discretionary SPDR, XLY
0.41% Value S&P 500, RPV
0.41% Dividend DJ Select, DVY
0.37% Value Large Cap DJ, ELV
0.36% Health Care SPDR, XLV
0.36% Europe 100 BLDRS, ADRU
0.34% REIT Wilshire, RWR
0.33% Consumer Staples SPDR, XLP
0.32% Financials VIPERs, VFH
0.30% Consumer Staples VIPERs, VDC
0.30% Global 100, IOO
0.25% Technology Global, IXN
0.25% Short 200% Dow 30 PS, DXD
0.25% Value LargeCap Euro STOXX 50 DJ, FEU
0.23% China LargeCap Growth G D H USX PS, PGJ
0.23% Netherlands Index, EWN
0.20% Bond, Aggregate, AGG
0.18% Bond, 1-3 Year Treasury, SHY
0.18% Healthcare DJ, IYH
0.18% Italy Index, EWI
0.17% Short 200% S&P 500 PS, SDS
0.16% Value LargeCap Dynamic PS, PWV
0.15% Dividend Growth PS, PHJ
0.13% Global Titans, DGT
0.12% Mexico Index, EWW
0.09% Internet H, HHH
0.09% Malaysia Index, EWM
0.08% LargeCap Rydex Rus Top 50, XLG
0.08% Health Care VIPERs, VHT
0.08% Dividend SPDR, SDY
0.07% Australia Index, EWA
0.06% Growth S&P 500, RPG
0.05% Real Estate US DJ, IYR
0.03% Oil, Crude, U.S. Oil Fund, USO
0.02% Commodity Tracking, DBC
0.02% Pacific ex-Japan, EPP
0.00% Latin Am 40, ILF
0.00% Internet B2B H, BHH
0.00% Euro STOXX 50, FEZ
0.00% Dividend Achievers PS, PFM
-0.02% Short 100% S&P 500, SH
-0.02% Biotech SPDR, XBI
-0.03% Value LargeCap Russell 3000, IWW
-0.04% Value LargeCap Fundamental RAFI 1000, PRF
-0.04% Telecom DJ US, IYZ
-0.06% Value 1000 Russell, IWD
-0.06% Bond, Corp, LQD
-0.07% Short 100% QQQ, PSQ
-0.07% Developed 100 BLDRS, ADRD
-0.07% Leisure & Entertainment, PEJ
-0.09% Consumer Non-Cyclical, IYK
-0.11% Value 40 Large Low P/E FT DB, FDV
-0.11% Hong Kong Index, EWH
-0.12% Emerging 50 BLDRS, ADRE
-0.13% Technology SPDR, XLK
-0.15% Short 100% Dow 30, DOG
-0.17% IPOs, First Tr IPOX-100, FPX
-0.17% Software H, SWH
-0.19% Utilities H, UTH
-0.20% S&P 500 SPDRs LargeCap Blend, SPY
-0.21% France Index, EWQ
-0.21% Emerging VIPERs, VWO
-0.24% Value EAFE MSCI, EFV
-0.25% Consumer Cyclical DJ, IYC
-0.26% Brazil Index, EWZ
-0.26% Telecommunications Global, IXP
-0.28% Growth EAFE MSCI, EFG
-0.28% LargeCap Blend S&P=Weight R, RSP
-0.33% DIAMONDS (DJIA), DIA
-0.34% Biotech H, BBH
-0.36% South Korea Index, EWY
-0.37% Japan LargeCap Blend TOPIX 150, ITF
-0.37% Wilshire 5000 ST TM, TMW
-0.38% Europe 350 S&P Index, IEV
-0.38% European VIPERs, VGK
-0.40% Value Small Cap DJ, DSV
-0.41% Telecom Services VIPERs, VOX
-0.44% Utilities DJ, IDU
-0.44% EMU Europe Index, EZU
-0.44% Emerging Markets, EEM
-0.45% EAFE Index, EFA
-0.45% Telecom H, TTH
-0.47% Software, IGV
-0.47% Internet Architecture H, IAH
-0.47% Asia 50 BLDRS, ADRA
-0.48% LargeCap 1000 R, IWB
-0.48% Germany Index, EWG
-0.49% Value S&P 500 B, IVE
-0.51% China 25 iS, FXI
-0.51% Growth LargeCap NASDAQ 100, QQQQ
-0.52% LargeCap Blend Total Market DJ, IYY
-0.52% Technology MS sT, MTK
-0.52% Semiconductor SPDR, XSD
-0.53% Biotechnology, IBB
-0.54% Ultra S&P500 Double, SSO
-0.54% Realty Cohen & Steers, ICF
-0.55% Technology GS, IGM
-0.55% Technology DJ US, IYW
-0.55% Semiconductors, PSI
-0.55% LargeCap Blend Dynamic PS, PWC
-0.57% LargeCap Blend Russell 3000, IWV
-0.57% Pacific VIPERs, VPL
-0.59% Value LargeCap iS M, JKF
-0.59% Austria Index, EWO
-0.63% LargeCap Blend Socially Responsible iS, KLD
-0.64% Value MidCap Russell, IWS
-0.65% Growth Large Cap, ELG
-0.66% Info Tech VIPERs, VGT
-0.66% LargeCap Blend Core iS M, JKD
-0.67% Ultra QQQ Double, QLD
-0.67% Value MidCap Dynamic PS, PWP
-0.68% Consumer D. VIPERs, VCR
-0.68% LargeCap Blend S&P 100, OEF
-0.68% Growth 1000 Russell, IWF
-0.70% Insurance, PIC
-0.71% Value MidCap S&P 400, RFV
-0.71% Value VIPERs, VTV
-0.73% South Africa Index, EZA
-0.73% Growth LargeCap NASDAQ Fidelity, ONEQ
-0.76% Utilities, PUI
-0.76% Value MidCap iS M, JKI
-0.77% LargeCap VIPERs, VV
-0.77% S&P 500 iS LargeCap Blend, IVV
-0.78% Food & Beverage, PBJ
-0.78% Ultra Dow30 Double, DDM
-0.79% Japan Index, EWJ
-0.79% Value SmallCap Dynamic PS, PWY
-0.79% Singapore Index, EWS
-0.79% United Kingdom Index, EWU
-0.80% Spain Index, EWP
-0.83% Utilities SPDR, XLU
-0.83% Silver Trust iS, SLV
-0.83% Value LargeCap NYSE 100 iS, NY
-0.86% Aerospace & Defense, PPA
-0.86% Biotech & Genome, PBE
-0.86% Growth LargeCap Russell 3000, IWZ
-0.87% Retail, PMR
-0.88% LargeCap Blend S&P 1500 iS, ISI
-0.92% MidCap Russell, IWR
-0.93% Nanotech Lux, PXN
-0.93% Water Resources, PHO
-0.93% Growth LargeCap iS M, JKE
-0.93% Value SmallCap VIPERS, VBR
-0.95% Dividend Appreciation Vipers, VIG
-0.95% Dividend International, PID
-0.96% Blend Total Market VIPERs, VTI
-0.97% Growth S&P 500/BARRA, IVW
-0.98% OTC Dynamic PS, PWO
-0.99% Growth VIPERs, VUG
-1.02% MidCap VIPERs, VO
-1.04% MidCap S&P 400 SPDRs, MDY
-1.10% Growth MidCap Russell, IWP
-1.14% Utilities VIPERs, VPU
-1.16% Energy VIPERs, VDE
-1.16% Lg Cap Growth PSD, PWB
-1.19% Growth MidCap S&P 400, RFG
-1.20% Industrial SPDR, XLI
-1.21% Energy Global, IXC
-1.23% Taiwan Index, EWT
-1.25% MidCap Blend Core iS M, JKG
-1.25% REIT VIPERs, VNQ
-1.28% LargeCap Blend NYSE Composite iS, NYC
-1.32% Industrial LargeCap Blend DJ US, IYJ
-1.33% Industrials VIPERs, VIS
-1.35% Canada Index, EWC
-1.37% Value SmallCap iS M, JKL
-1.42% Building & Construction, PKB
-1.43% Small Cap VIPERs, VB
-1.45% Growth SmallCap VIPERs, VBK
-1.47% SmallCap Core iS M, JKJ
-1.47% Sweden Index, EWD
-1.48% Extended Mkt VIPERs, VXF
-1.51% Growth MidCap 400 B, IJK
-1.54% Hardware & Electronics, PHW
-1.55% MidCap S&P 400 iS, IJH
-1.57% Growth Mid Cap Dynamic PS, PWJ
-1.57% Value SmallCap S&P 600 B, IJS
-1.58% Value SmallCap Russell 2000, IWN
-1.59% MidCap Growth iS M, JKH
-1.61% Value MidCap S&P 400 B, IJJ
-1.62% Software, PSJ
-1.64% Oil & Gas, PXJ
-1.66% SmallCap Russell 2000, IWM
-1.68% Microcap Russell, IWC
-1.69% Energy DJ, IYE
-1.73% Networking, PXQ
-1.73% Micro Cap Zachs, PZI
-1.73% Value Line Timeliness MidCap Gr, PIV
-1.75% Growth Small Cap DJ, DSG
-1.77% Growth SmallCap Dynamic PS, PWT
-1.77% Growth SmallCap R 2000, IWO
-1.77% Growth BARRA Small Cap 600, IJT
-1.81% Growth SmallCap iS M, JKK
-1.83% SmallCap S&P 600, IJR
-1.88% Natural Resource iS GS, IGE
-1.90% Energy SPDR, XLE
-1.90% Materials SPDR, XLB
-1.93% Value SmallCap S&P 600, RZV
-1.95% Transportation Av DJ, IYT
-1.99% Networking, IGN
-2.00% Metals & Mining SPDR, XME
-2.02% Oil Services H, OIH
-2.38% Materials VIPERs, VAW
-2.39% SmallCap PS Zacks, PZJ
-2.40% Energy Exploration & Prod, PXE
-2.41% Basic Materials DJ US, IYM
-2.42% WilderHill Clean Energy PS, PBW
-2.56% Ultra MidCap400 Double, MVV
-2.78% Broadband H, BDH
-2.93% Internet Infrastructure H, IIH