by Robert W. Colby, Senior Analyst TraderPlanet.com

Stock Market: reached “a likely spot to encounter resistance” then fell steeply.

As of 7/23/08, the S&P 500 had retraced a normal 38.2% Fibonacci ratio of its steep May-July drop. On 7/24/08, the S&P 500 fell steeply to close below the closes of the previous 4 days.

The upside stock pricemovement of the previous 6 trading days may have been simply a temporary, minor, counter-trend, short-covering reaction against the larger major downtrend.

On Thursday, major stock price indexes opened higher but immediately began a steep slide that lasted all day. The S&P 500 Index ETF (SPY) broke below a 7-day uptrend line and closed well below the previous close, well below the previous low, well below the open, well below the midpoint of the High-Low range, and near the low for the day. The S&P 500 cash index closed at 1,252.54, down 29.65 points or 2.31%. Total NYSE volume fell 5%, suggesting diminished demand for stocks.

The breadth of the market turned Bearish. The Advance-Decline balance ((A-D) / (A+D)) was -62.00%, the Up-Down Volume balance ((Up-Dn) / (Up+Dn)) was -73.18%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -58.86% on the NYSE. The number of New Lows has exceeded the number of New Highs most days for more than a year, since July 2007, and that is one sign of a Bear Market. On 7/15/08, the Cumulative Daily Advance-Decline Lines for the NYSE and for the NASDAQ both fell to new 20-month lows, so major breadth trends remain Bearish.

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

8.20% , RHI , ROBERT HALF
13.77% , RSH , RADIOSHACK
7.94% , BDH , Broadband H, BDH
16.98% , QCOM , QUALCOMM
8.67% , SNA , SNAP ON
7.88% , ABC , AMERISOURCEBERGN
11.60% , AMZN , Amazoncom Inc
3.50% , JNS , JANUS CAPITAL
17.52% , SANM , SANMINA
6.18% , CPWR , COMPUWARE
11.08% , AN , AUTONATION
2.07% , IVGN , Invitrogen Corporation
2.94% , MWV , MEADWESTVACO
3.31% , BCR , C R BARD
3.91% , CAH , CARDINAL HEALTH
4.09% , LSI , LSI LOGIC
2.87% , GR , GOODRICH CORP
1.69% , ABI , Applera Corp-Applied Biosystems Group (ABI)
4.09% , QLGC , QLOGIC
2.02% , CBE , COOPER INDS STK A
1.12% , XTO , XTO ENERGY INC
2.18% , MHS , MEDCO HEALTH
5.65% , CECO , CAREER EDUCATION CORP
4.96% , DXD , Short 200% Dow 30 PS, DXD
0.68% , AVP , AVON
1.96% , HHH , Internet H, HHH
3.88% , NEM , NEWMONT MINING
0.52% , TUP , TUPPERWARE
1.10% , MON , MONSANTO
0.57% , JNJ , JOHNSON&JOHNSON
0.07% , IGN , Networking, IGN
0.79% , BDX , BECTON DICKINSON
0.13% , PSI , Semiconductors, PSI
1.27% , HES , AMERADA HESS
6.10% , MZZ , Short 200% MidCap 400 PS, MZZ
0.35% , MMM , 3M
0.59% , MKC , MCCORMICK
0.58% , DUK , DUKE ENERGY
1.05% , BMY , BRISTOL MYERS
2.74% , AMP , Ameriprise Financial Inc.

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

-67.01% , IXC , Energy Global, IXC
-50.01% , ITF , Japan LargeCap Blend TOPIX 150, ITF
-89.96% , SLV , Silver Trust iS, SLV
-51.38% , EZA , South Africa Index, EZA
-51.05% , EZU , EMU Europe Index, EZU
-80.78% , ILF , Latin Am 40, ILF
-67.96% , IWS , Value MidCap Russell, IWS
-51.45% , IWP , Growth MidCap Russell, IWP
-67.90% , EEM , Emerging Markets, EEM
-67.26% , EPP , Pacific ex-Japan, EPP
-68.10% , FXI , China 25 iS, FXI
-11.99% , AFL , AFLAC
-1.72% , PHW , Hardware & Electronics, PHW
-6.67% , LH , LAB CRP OF AMER
-12.50% , TER , TERADYNE
-3.51% , JKL , Value SmallCap iS M, JKL
-8.95% , BLL , BALL
-2.32% , PZJ , SmallCap PS Zacks, PZJ
-2.31% , RFG , Growth MidCap S&P 400, RFG
-2.90% , EWO , Austria Index, EWO
-67.03% , IGE , Natural Resource iS GS, IGE
-3.01% , JKJ , SmallCap Core iS M, JKJ
-66.81% , IYE , Energy DJ, IYE
-2.33% , EWG , Germany Index, EWG
-2.95% , RZV , Value SmallCap S&P 600, RZV
-2.81% , FPX , IPOs, First Tr IPOX-100, FPX
-13.33% , WM , WASHINGTON MUT
-2.72% , PPA , Aerospace & Defense, PPA
-51.16% , IJT , Growth BARRA Small Cap 600, IJT
-2.24% , SWH , Software H, SWH
-2.86% , IJH , MidCap S&P 400 iS, IJH
-3.17% , JKF , Value LargeCap iS M, JKF
-6.18% , LVLT , LEVEL 3 COMMUNICATIONS
-4.84% , MCK , MCKESSON CORP
-0.86% , PXQ , Networking, PXQ
-3.09% , JKG , MidCap Blend Core iS M, JKG
-2.83% , ADRU , Europe 100 BLDRS, ADRU
-15.26% , F , FORD MOTOR
-1.55% , XLG , LargeCap Rydex Rus Top 50, XLG
-2.02% , JKK , Growth SmallCap iS M, JKK

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

-0.09% Health Care SPDR, XLV
-0.16% Utilities SPDR, XLU
-0.24% Energy SPDR, XLE
-0.62% Consumer Staples SPDR, XLP
-2.13% Consumer Discretionary SPDR, XLY
-2.48% Industrial SPDR, XLI
-2.53% Materials SPDR, XLB
-2.56% Technology SPDR, XLK
-6.72% Financial SPDR, XLF

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):

Consumer Staples (XLP) Neutral, Market Weight. On 7/15/08, XLP /SPY Relative Strength Ratio rose to another new 5-year high, again confirming that the long-term trend is up.

Health Care (XLV) Neutral, Market Weight. On 7/15/08, the XLV/SPY Relative Strength Ratio moved up to a new 5-month high.

Energy (XLE) Neutral, Market Weight. On 7/23/08, XLE absolute price and XLE/SPY Relative Strength Ratio both broke down to new 11-week lows, confirming a short-term correction. On 7/1/08, XLE/SPY Relative Strength Ratio rose to another new all-time high, again confirming a long-term, Primary Tide Uptrend.

Utilities (XLU) Neutral, Market Weight. On 7/23/08, XLU absolute price and XLU/SPY Relative Strength Ratio both broke down to new 7-week lows, confirming a short-term correction. On 7/15/08, XLU/SPY Relative Strength Ratio rose to a new all-time high, a confirming a long-term, Primary Tide Uptrend.

Materials (XLB) Neutral, Market Weight. On 5/20/08, XLB absolute price and XLB/SPY Relative Strength Ratio both closed at new all-time highs, thereby confirming a major uptrend. But on 7/8/08, absolute price and XLB/SPY Relative Strength Ratio both fell to new 9-week lows, thereby suggesting an intermediate-term downside correction.

Industrial (XLI) Bearish, Underweight. On 7/2/08, XLI/SPY Relative Strength Ratio fell to its lowest levels in 25 weeks, again confirming a Bearish trend.

Technology (XLK) Bearish, Underweight. On 7/22/08, XLK/SPY Relative Strength Ratio fell to its lowest levels in 12 weeks, again confirming a Bearish trend. On 7/3/08, the XLK absolute price and the XLK/SPY Relative Strength Ratio both fell to their lowest levels in 6 weeks, thereby signaling a deteriorating intermediate-term trend. The XLK/SPY Relative Strength Ratio has been deteriorating since 6/6/08.

Consumer Discretionary (XLY) Bearish, Underweight. On 7/15/08, XLY absolute price fell to its lowest level in 5 years. On 7/11/08, the XLY/SPY Relative Strength Ratio fell to its lowest levels in 6 months. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially.

Financial (XLF) Bearish, Underweight. On 7/15/08, the XLF absolute price and the XLF/SPY Relative Strength Ratio both fell to their lowest level in 8 years, again confirming a Bearish Primary Tide Trend. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially.

Foreign stock index EFA absolute price fell to its lowest level in 24 months on 7/15/08. Relative Strength Ratio fell to its lowest level in 3 months on 7/8/08 but has firmed somewhat since. Since 5/23/08, EFA has underperformed the U.S. stock market. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.

NASDAQ Composite Relative Strength Ratio broke out to a new 8-month high on 7/17/08 but turned down since. Absolute price tested and held its low of 3/17/08.

Growth Stock/Value Stock Relative Strength Ratio fell steeply to a new 7-week low on 7/23/08, confirming a short-term downward correction. This ratio (IWF/IWD) has been in an uptrend since 8/8/06, and it rose to a new 4-year high on 7/15/08.

The Small Cap/Large Cap Relative Strength Ratio made a new 15-month high on 7/23/08. The main trend appears to be improving.

Crude Oil August futures contract reversed to the upside–but just slightly. On 7/23/08, oil fell below the lows of the previous 6 weeks, confirming a short-term correction phase. The short-term trend appears corrective, while the long-term trend remains Bullish. 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 declined again—but only slightly. On 7/23/08, Gold fell below the lows of the previous 9 days, confirming a short-term correction phase. On 7/15/08, Gold rose to a new 4-month high, confirming that the intermediate-term Secondary Wave and the long-term Primary Tide Trend for Gold remain Bullish.

U.S. Treasury Bond September futures contract moved above the highs of the previous 3 days. On 7/23/08, the bond fell below the lows of the previous 4 weeks, confirming a short-term correction. Bonds have been in a short-term downtrend since 7/15/08, in an intermediate-term uptrend since 6/13/08, and in a neutral sideways trend long-term since June 2003.

iShares Lehman TIPS Bond ETF (TIP) Strength Ratio Relative to iShares Lehman 7-10 Year Treasury ETF (IEF) broke down below its March-July uptrend line.

iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) absolute price broke down to another new 5-year low on 7/18/08.

The U.S. dollar broke out above the highs of the previous 10 trading days. On 7/15/08, the dollar fell to its lowest price in 12-weeks. Although the short-term trend has improved, the most relevant trends still appear Bearish.

The Art of Contrary Thinking: Traders need to be extremely nimble to keep up with rapid changes in the mass mood. The business and financial news has flipped from fear to hope and back again this year, creating higher levels of volatility. Investors might be wise to focus on risk control.

Sentiment/Contrary Opinion: There were 29.2% Bulls versus 49.4% Bears as of 7/23/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio rose to 0.59, up from 0.57 the previous week. That 0.57 was the lowest level of the ratio since 1994. The ratio’s 38-year range is 0.28 to 17.51, and the median is 1.47. Sentiment indicators are often early, and so should not be used on a stand-alone basis for market timing.

VIX Fear Index, now at 23.44, indicates falling Fear since the peak at 28.48 on 7/14/08. Previously, 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, now at 27.83, indicates falling Fear since the peak at 33.20 on 7/14/08. Previously, 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 0.81, which indicates Bearish sentiment. Its 4-year mean and median are 0.62, and its 4-year range is 0.35 to 1.28.

ISEE Call/Put Ratio is 0.96, which indicates Bearish sentiment. The ratio’s 4-year mean is 1.50, 4-year median is 1.47, and 4-year range is 0.51 to 3.16.

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. Rising commodity prices push up inflation.

A new intermediate-term down wave was signaled on 6/11/08, when the Dow-Jones Industrials and Transports both closed at new 7-week lows. 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 (1,252.54):

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
1,366.59, high of 6/17/2008
1,335.63, high of 6/25/2008
1,292.17, high of 7/2/2008

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 (1,252.54):

Potential Support
1,200.44, low of 7/15/2008
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

7.94% Broadband H, BDH
7.66% Internet B2B H, BHH
6.10% Short 200% MidCap 400 PS, MZZ
4.96% Short 200% Dow 30 PS, DXD
4.39% Short 200% S&P 500 PS, SDS
3.37% Short 200% QQQ PS, QID
2.90% Short 100% MidCap 400, MYY
2.29% Short 100% Dow 30, DOG
2.29% Short 100% S&P 500, SH
1.96% Internet H, HHH
1.67% Short 100% QQQ, PSQ
1.44% Oil, Crude, U.S. Oil Fund, USO
0.98% Bond, 20+ Years Treasury, TLT
0.88% Bond, Corp, LQD
0.86% Bond, 10 Year Treasury, IEF
0.84% Gold Shares S.T., GLD
0.71% Bond, TIPS, TIP
0.70% Bond, Aggregate, AGG
0.53% Biotech H, BBH
0.28% Bond, 1-3 Year Treasury, SHY
0.26% Biotech & Genome, PBE
0.15% Healthcare Global, IXJ
0.13% Semiconductors, PSI
0.09% Pharmaceutical H, PPH
0.07% Commodity Tracking, DBC
0.07% Networking, IGN
0.07% Biotechnology, IBB
-0.04% Health Care VIPERs, VHT
-0.08% Japan Index, EWJ
-0.09% Health Care SPDR, XLV
-0.12% Healthcare DJ, IYH
-0.16% Utilities SPDR, XLU
-0.24% Energy SPDR, XLE
-0.28% Utilities H, UTH
-0.30% Utilities, PUI
-0.31% South Korea Index, EWY
-0.53% Food & Beverage, PBJ
-0.53% Energy VIPERs, VDE
-0.53% Pacific VIPERs, VPL
-0.59% Switzerland Index, EWL
-0.62% Consumer Staples SPDR, XLP
-0.65% Energy Exploration & Prod, PXE
-0.70% Pharmaceuticals, PJP
-0.77% Lg Cap Growth PSD, PWB
-0.85% Utilities DJ, IDU
-0.86% Networking, PXQ
-0.87% Software, PSJ
-0.88% Technology Global, IXN
-0.89% Oil Services H, OIH
-0.89% Value 40 Large Low P/E FT DB, FDV
-0.90% Utilities VIPERs, VPU
-0.98% Telecommunications & Wireless, PTE
-1.06% Biotech SPDR, XBI
-1.06% Internet Architecture H, IAH
-1.10% Consumer Staples VIPERs, VDC
-1.18% Malaysia Index, EWM
-1.31% Growth S&P 500/BARRA, IVW
-1.33% Consumer Non-Cyclical, IYK
-1.35% Growth LargeCap iS M, JKE
-1.36% Taiwan Index, EWT
-1.37% Micro Cap Zachs, PZI
-1.38% Italy Index, EWI
-1.41% Value EAFE MSCI, EFV
-1.42% Value LargeCap Euro STOXX 50 DJ, FEU
-1.48% LargeCap Blend Core iS M, JKD
-1.50% Growth LargeCap NASDAQ 100, QQQQ
-1.51% OTC Dynamic PS, PWO
-1.52% Technology MS sT, MTK
-1.55% LargeCap Rydex Rus Top 50, XLG
-1.56% Technology GS, IGM
-1.60% Global 100, IOO
-1.66% Oil & Gas, PXJ
-1.68% Dividend Appreciation Vipers, VIG
-1.69% Dividend Leaders, FDL
-1.69% Euro STOXX 50, FEZ
-1.70% Technology DJ US, IYW
-1.70% Growth SmallCap Dynamic PS, PWT
-1.72% Hardware & Electronics, PHW
-1.72% Belgium Index, EWK
-1.72% Growth SmallCap R 2000, IWO
-1.73% Singapore Index, EWS
-1.76% Emerging VIPERs, VWO
-1.77% Value MidCap Dynamic PS, PWP
-1.79% Growth 1000 Russell, IWF
-1.79% Growth LargeCap Russell 3000, IWZ
-1.82% Microcap Russell, IWC
-1.82% Growth Large Cap, ELG
-1.82% EAFE Index, EFA
-1.85% Growth LargeCap NASDAQ Fidelity, ONEQ
-1.87% Telecommunications Global, IXP
-1.89% Retail H, RTH
-1.90% Value Line Timeliness MidCap Gr, PIV
-1.90% Growth VIPERs, VUG
-1.92% Info Tech VIPERs, VGT
-1.93% France Index, EWQ
-1.94% Value LargeCap NYSE 100 iS, NY
-1.95% LargeCap VIPERs, VV
-1.95% LargeCap Blend Dynamic PS, PWC
-2.01% LargeCap Blend Socially Responsible iS, KLD
-2.02% Growth SmallCap iS M, JKK
-2.04% Basic Materials DJ US, IYM
-2.04% Growth S&P 500, RPG
-2.06% Wilshire 5000 ST TM, TMW
-2.08% S&P 500 SPDRs LargeCap Blend, SPY
-2.09% Growth EAFE MSCI, EFG
-2.11% Growth Mid Cap Dynamic PS, PWJ
-2.13% Consumer Discretionary SPDR, XLY
-2.15% Developed 100 BLDRS, ADRD
-2.16% S&P 500 iS LargeCap Blend, IVV
-2.17% LargeCap 1000 R, IWB
-2.17% Growth Small Cap DJ, DSG
-2.17% Global Titans, DGT
-2.19% Asia 50 BLDRS, ADRA
-2.19% Australia Index, EWA
-2.20% Telecom Services VIPERs, VOX
-2.24% Software H, SWH
-2.25% European VIPERs, VGK
-2.26% LargeCap Blend Total Market DJ, IYY
-2.26% DIAMONDS (DJIA), DIA
-2.27% United Kingdom Index, EWU
-2.31% Growth MidCap S&P 400, RFG
-2.31% LargeCap Blend NYSE Composite iS, NYC
-2.32% SmallCap PS Zacks, PZJ
-2.32% Consumer Cyclical DJ, IYC
-2.33% Germany Index, EWG
-2.34% Growth SmallCap VIPERs, VBK
-2.35% Blend Total Market VIPERs, VTI
-2.35% Insurance, PIC
-2.42% LargeCap Blend Russell 3000, IWV
-2.44% Materials VIPERs, VAW
-2.45% Telecom DJ US, IYZ
-2.47% Growth MidCap 400 B, IJK
-2.48% Industrial SPDR, XLI
-2.51% SmallCap S&P 600, IJR
-2.51% LargeCap Blend S&P 100, OEF
-2.53% Materials SPDR, XLB
-2.53% SmallCap Russell 2000, IWM
-2.56% Technology SPDR, XLK
-2.57% MidCap Growth iS M, JKH
-2.60% Dividend Growth PS, PHJ
-2.65% Value VIPERs, VTV
-2.66% Value SmallCap Dynamic PS, PWY
-2.67% Dividend International, PID
-2.71% Small Cap VIPERs, VB
-2.72% Aerospace & Defense, PPA
-2.72% Retail, PMR
-2.74% Value Large Cap DJ, ELV
-2.74% Industrial LargeCap Blend DJ US, IYJ
-2.75% Industrials VIPERs, VIS
-2.76% Value SmallCap Russell 2000, IWN
-2.77% Extended Mkt VIPERs, VXF
-2.78% Value SmallCap VIPERS, VBR
-2.78% Dividend Achievers PS, PFM
-2.79% Hong Kong Index, EWH
-2.81% IPOs, First Tr IPOX-100, FPX
-2.81% Value LargeCap Russell 3000, IWW
-2.82% Spain Index, EWP
-2.83% Nanotech Lux, PXN
-2.83% Europe 100 BLDRS, ADRU
-2.84% Software, IGV
-2.84% Internet Infrastructure H, IIH
-2.86% MidCap S&P 400 SPDRs, MDY
-2.86% MidCap S&P 400 iS, IJH
-2.87% Value S&P 500 B, IVE
-2.90% Austria Index, EWO
-2.91% Semiconductor SPDR, XSD
-2.92% Value Small Cap DJ, DSV
-2.93% Value 1000 Russell, IWD
-2.95% Value SmallCap S&P 600, RZV
-2.95% Value LargeCap Dynamic PS, PWV
-2.96% Semiconductor H, SMH
-3.01% SmallCap Core iS M, JKJ
-3.01% Consumer D. VIPERs, VCR
-3.03% LargeCap Blend S&P=Weight R, RSP
-3.05% Canada Index, EWC
-3.06% Value SmallCap S&P 600 B, IJS
-3.08% MidCap VIPERs, VO
-3.09% MidCap Blend Core iS M, JKG
-3.10% Netherlands Index, EWN
-3.15% Value LargeCap Fundamental RAFI 1000, PRF
-3.16% Dividend SPDR, SDY
-3.17% Value LargeCap iS M, JKF
-3.20% Telecom H, TTH
-3.21% MidCap Russell, IWR
-3.26% Financials Global LargeCap Value, IXG
-3.26% Water Resources, PHO
-3.37% Brazil Index, EWZ
-3.42% Ultra QQQ Double, QLD
-3.46% Value MidCap S&P 400 B, IJJ
-3.47% Mexico Index, EWW
-3.48% Value MidCap S&P 400, RFV
-3.51% Value SmallCap iS M, JKL
-3.58% Transportation Av DJ, IYT
-3.58% China LargeCap Growth G D H USX PS, PGJ
-3.61% Value MidCap iS M, JKI
-3.62% Dividend DJ Select, DVY
-3.81% Sweden Index, EWD
-3.91% Emerging 50 BLDRS, ADRE
-3.99% Metals & Mining SPDR, XME
-4.15% WilderHill Clean Energy PS, PBW
-4.37% Building & Construction, PKB
-4.49% Ultra S&P500 Double, SSO
-4.56% Ultra Dow30 Double, DDM
-4.68% Bank Regional H, RKH
-4.77% Semiconductor iS GS, IGW
-4.86% Capital Markets KWB ST, KCE
-5.14% Dividend High Yield Equity PS, PEY
-5.16% Leisure & Entertainment, PEJ
-5.19% Value S&P 500, RPV
-5.70% Financial DJ US, IYF
-6.06% Financials VIPERs, VFH
-6.13% Financial Services DJ, IYG
-6.15% Ultra MidCap400 Double, MVV
-6.15% Real Estate US DJ, IYR
-6.62% REIT VIPERs, VNQ
-6.72% Financial SPDR, XLF
-7.00% REIT Wilshire, RWR
-7.04% Realty Cohen & Steers, ICF
-9.58% Homebuilders SPDR, XHB
-50.01% Japan LargeCap Blend TOPIX 150, ITF
-51.05% EMU Europe Index, EZU
-51.06% Europe 350 S&P Index, IEV
-51.13% LargeCap Blend S&P 1500 iS, ISI
-51.16% Growth BARRA Small Cap 600, IJT
-51.38% South Africa Index, EZA
-51.45% Growth MidCap Russell, IWP
-66.81% Energy DJ, IYE
-67.01% Energy Global, IXC
-67.03% Natural Resource iS GS, IGE
-67.26% Pacific ex-Japan, EPP
-67.90% Emerging Markets, EEM
-67.96% Value MidCap Russell, IWS
-68.10% China 25 iS, FXI
-80.78% Latin Am 40, ILF
-89.96% Silver Trust iS, SLV