RobertWColby's Commentaries
Daily Stock Market Commentary
Stock Market: when volume rises as prices decline, take warning. Small Caps underperformed.
The volume of declining stocks was 3.5 times the volume of advancing stocks.
Cumulative On-Balance Volume and Candlestick Volume turned down after failing to confirm new price highs.
Price momentum oscillators turned down after many days of denying confirmation of new highs by the price indexes.
The Small Cap/Large Cap Relative Strength Ratio (IWM/SPY) broke sharply lower to a new 6-week low, turning the intermediate-term trend bearish. IWM/SPY was in an uptrend from 3/9/09 to 9/18/09, but that uptrend now may be in question.
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
15.91% , LXK , LEXMARK INTL STK A
4.98% , ITW , ILLINOIS TOOL
6.13% , BK , BANK OF NEW YORK
4.17% , UNH , UNITEDHEALTH GRP
2.99% , KEY , KEYCORP
4.90% , PH , PARKER HANNIFIN
4.34% , FITB , FIFTH THIRD BANC
1.93% , RF , REGIONS FINAN
3.04% , CAT , CATERPILLAR
4.38% , CMA , COMERICA
1.43% , LNCR , Lincare Holdings Inc
1.17% , PCAR , PACCAR
1.90% , SEE , SEALED AIR
2.29% , VLO , VALERO ENERGY
1.58% , MTB , M&T BANK
1.87% , AMD , ADV MICRO DEV
2.11% , FDX , FEDEX
2.94% , TER , TERADYNE
3.21% , HSY , HERSHEY FOODS
1.20% , ABC , AMERISOURCEBERGN
4.69% , AAPL , APPLE COMPUTER
1.42% , TEVA , Teva Pharmaceutical Industries Limited
2.06% , FDO , FAMILY DLR STRS
2.45% , HUM , HUMANA
1.39% , CI , CIGNA
1.06% , MCK , MCKESSON CORP
0.77% , ATI , ALLEGHENY TECH
1.87% , JNPR , Juniper Networks Inc
0.69% , VFC , VF
1.43% , EWH , Hong Kong Index, EWH
1.30% , WFC , WELLS FARGO
0.79% , BRCM , BROADCOM STK A
0.61% , SUN , SUNOCO
1.82% , BEN , FRANKLIN RSC
0.37% , IYT , Transportation Av DJ, IYT
0.51% , SNA , SNAP ON
1.59% , SVU , SUPERVALU
1.70% , LAMR , Lamar Advertising Company
0.59% , PG , PROCTER & GAMBLE
1.80% , CECO , CAREER EDUCATION CORP
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-15.65% , BSX , BOSTON SCIENT
-8.44% , STT , STATE STREET
-8.77% , MI , MARSHAL & ILSLEY
-6.49% , LMT , LOCKHEED MARTIN
-3.82% , EWZ , Brazil Index, EWZ
-6.18% , BC , BRUNSWICK
-3.27% , STJ , ST JUDE MEDICAL
-5.77% , HOLX , Hologic, Inc., HOLX
-4.13% , ERTS , ELECTRONIC ARTS
-5.00% , PHM , PULTE HOMES
-1.31% , PZJ , SmallCap PS Zacks, PZJ
-6.39% , SHW , SHERWIN WILLIAMS
-2.06% , EZA , South Africa Index, EZA
-6.00% , ZION , ZIONS
-0.93% , IXC , Energy Global, IXC
-2.69% , BIIB , BIOGEN IDEC
-4.36% , S , SPRINT NEXTEL
-3.41% , RTN , RAYTHEON
-0.87% , PWP , Value MidCap Dynamic PS, PWP
-2.92% , BA , BOEING
-1.22% , VCR , Consumer D. VIPERs, VCR
-2.83% , DRI , DARDEN REST
-3.39% , A , AGILENT TECH
-2.18% , CVG , CONVERGYS
-5.77% , MTG , MGIC INVESTMENT
-1.08% , IYZ , Telecom DJ US, IYZ
-1.98% , PPA , Aerospace & Defense, PPA
-2.44% , BBH , Biotech H, BBH
-3.10% , LEG , LEGGETT & PLATT
-3.53% , MDT , MEDTRONIC
-0.61% , KLD , LargeCap Blend Socially Responsible iS, KLD
-3.72% , PKI , PERKINELMER
-2.62% , BBY , BEST BUY
-1.01% , PXQ , Networking, PXQ
-1.89% , SYK , STRYKER
-3.78% , TXT , TEXTRON
-2.99% , IGT , INTL GAME TECH
-2.64% , EMC , EMC
-2.79% , RSH , RADIOSHACK
-4.27% , GR , GOODRICH CORP
9 major U.S. stock sectors ranked in order of long-term relative strength:
Consumer Discretionary (XLY) Neutral, Market Weight. The Relative Strength Ratio (XLY/SPY) appears choppy short term. Intermediate term, the relative trend appears neutral/sideways since peaking on 4/30/09. XLY was strong from 11/19/08 to 4/30/09, and that past strength accounts for XLY’s high ranking here. The XLY/SPY trend was clearly down from 1/5/05 to 11/19/08.
Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) fell further below 4-month lows on 10/16/09. XLK/SPY turned down after 9/30/09. The XLK/SPY Ratio appears to be in a moderate correction for the intermediate term. Long term, on 7/22/09, XLK/SPY rose to its highest level in 7 years, thereby confirming a long-term uptrend in effect since 9/30/02.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) peaked on 8/5/09 and has been consolidating gains since. XLB/SPY was in an intermediate-term uptrend from its low on 12/5/08 to its high on 8/5/09.
Financial (XLF) Neutral, Market Weight. The Relative Strength Ratio (XLF/SPY) has fallen sharply after breaking out to a new 10-month high on 10/14/09.
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) rose to another a new 4-month high on 10/19/09, and absolute price confirmed. XLE/SPY has been in a strong uptrend short-term, in this month of October, 2009. Longer term, it appears likely that XLE/SPY bottomed a year ago, on 10/16/08, and has been building a technical base over the past year.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) has been in a moderate downtrend since peaking on 11/20/08, as the appetite for risk recovered.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) has stabilized since making a low on 10/7/09 but is still well below its high of 9/17/09. XLI/SPY was in an intermediate-term uptrend from its low on 3/6/09 to its high on 9/17/09.
Health Care (XLV) Bearish, Underweight. The Relative Strength Ratio (XLV/SPY) fell further below the lows of the previous 12 months on 10/15/09. XLV/SPY has been relatively weak since 2/23/09.
Utilities (XLU) Bearish, Underweight. The Relative Strength Ratio (XLU/SPY) fell below previous 24-month lows on 10/14/09. XLU has underperformed since 11/21/08, as the appetite for risk recovered.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) moved further above previous 6-year highs on 10/14/09. Trends remain bullish in all time frames.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) peaked on 9/9/09 and has been lagging slightly since. The ratio outperformed from 10/27/08 to 9/9/09. EFA is the ETF representing the EAFE, the international developed country stock markets, excluding the U.S. and Canada.
NASDAQ Composite/S&P 500 Relative Strength Ratio fell below previous 6-week lows on 10/15/09. The ratio peaked out on 7/23/09 and has been correcting and consolidating since.
Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) has been correcting and consolidating gains since the peak on 3/5/09. IWF/IWD was in an uptrend from 8/8/06 to 3/5/09, and it is quite possible that uptrend could resume.
Russell 1000 Value ETF Relative Strength Ratio (IWD/SPY) has been correcting and consolidating gains in recent weeks. Intermediate term, IWD/SPY outperformed from 3/6/09 to 9/18/09. Long term, IWD/SPY remains in a Bearish Major Trend, underperforming since 3/22/07.
The S&P 500 equally weighted index relative to the S&P 500 capitalization weighted index has been consolidating gains since 9/16/09. The ratio had been in a strong uptrend from 11/19/08 to 9/16/09, and that trend could resume.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) broke down below 3-week lows on 10/19/09. It has been in a downtrend since 11/20/08 as the market shifted toward a more aggressive risk seeking posture.
The Small Cap/Large Cap Relative Strength Ratio (IWM/SPY) broke sharply lower to a new 6-week low on 10/20/09, turning the intermediate-term trend bearish. IWM/SPY was in an uptrend from 3/9/09 to 9/18/09, but that uptrend now may be in question.
The Mid Cap/Large Cap Relative Strength Ratio (MDY/SPY) has been consolidating gains since 9/16/09. The secular trend since 1999 remains bullish.
Crude Oil nearest futures contract price rose to another new 12-month high of 80.40 on 10/20/09 but reversed to close lower. The main trend remains bullish. The first potential support may be seen at the previous high at 75.00 set on 8/25/09.
Gold nearest futures contract price has been consolidating gains since hitting 1072.0 on10/14/09. All trends remain bullish, and Gold appears to have substantial upside potential. Technical supports might be found around previous highs and lows at 1043.7, 1033.9, 1024.7, 982.2, 940.3, 931.5, 925.2 and 904.8, based on the nearest futures contract. Watch highs at 1069.0 and 1072.0 for potential resistance.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to Gold bullion) turned down moderately after 10/13/09. The short-term trend appears uncertain. The ratio rose to a 14-month high on 9/17/09, confirming a preexisting longer-term uptrend in effect since 10/27/08. This main trend remains bullish for both Gold bullion and Gold Mining Stocks.
Silver/Gold Ratio turned down after 10/9/09. The short-term trend has been choppy, suggesting some uncertainty about global economic prospects.
Copper nearest futures contract price closed lower after touching a new high of 29990 on 10/20/09. Rising copper prices suggest growing confidence about global economic prospects.
U.S. Treasury Bond December futures contract price rose above the highs of the previous 4 trading days on 10/20/09. The 2-week shakeout may be over. The 4-month trend still looks bullish. The Bond may find short-term support around the previous lows of 118.20 set on 10/15/09, 118.07 set on 9/23/09, 117.18 set on 9/9/09, and 116.30 set on 8/24/09. On 8/7/09, Bonds found support at the upper end of the 112-115 zone of many previous reversal points (including both lows and highs).
Bond quality ratio (LQD/TLT) partially recovered over the past 2 weeks. It broke down below a 6-month uptrend line and broke down below 11-week lows on 10/1/09, presumably signaling a move away from risk and toward safety. The trend had been up from 12/19/08 to 8/7/09, as the appetite for risk recovered, but that trend appears to have ended. LQD/TLT is iShares iBoxx $ Invest Grade Corp Bond ETF (LQD) price divided by 20+ Years US Treasury Bond ETF price (TLT).
The U.S. dollar nearest futures contract price fell further below the lows of the previous 14 months on 10/19/09. Obviously, the major trend remains bearish, and it probably would take a long period of base building and bottom testing to turn this trend.
The Art of Contrary Thinking: The various surveys of investor sentiment are best considered as background factors. The majority of investors can be right for a long time before a major trend finally changes course. So, Contrary Thinking should be used with more precise market timing tools.
Advisory Service Sentiment: There were 47.2% Bulls versus 26.4% Bears as of 10/14/09, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio was 1.79, down from 2.00 the previous week. The ratio was 2.61 on 8/26/09, the highest reading since 10/17/07. The ratio’s 39-year range is 0.28 to 17.51, the median is 1.43, and the mean is 1.73.
VIX Fear Index touched a new 13-month low of 20.90 on 10/20/09, confirming declining fear. VIX is down from a closing high of 80.86 set on 11/20/08. 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 touched a new 13-month low of 21.59 on 10/20/09. VXN is down from a closing high of 80.64 set on 11/20/08. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.
ISEE Call/Put Ratio rose to 1.82 on 10/14/09, indicating bullish sentiment. The ratio’s 5-year mean is 1.43, median is 1.38, and its range is 0.51 to 3.16.
CBOE Put/Call Ratio fell to 0.46 on 10/14/09, indicating bullish sentiment. The ratio’s 5-year mean is 0.67, median is 0.65, and its range is 0.35 to 1.35.
Fundamentals: The 2003-2007 Bull Market was fed by abundant global liquidly, M&A, leveraged buyouts, corporate stock buybacks, and a net balance of positive earnings surprises. The unfolding fallout from the credit market crisis derailed that engine. Since the stock market low on 3/9/09, massive monetary and fiscal stimulation appears to have had a Bullish impact on investor sentiment.
The Dow Theory signaled a Primary Tide Bull Market on 7/23/09 when both the Dow-Jones Industrial Average the Dow-Jones Transportation Average closed above their May-June 2009 closing price highs. This reverses the previous signal: the two Averages signaled a Primary Tide Bear Market on 11/21/07, when both Averages closed below their closing price lows of August, 2007.
S&P 500 Cash Index 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
1,381.50, Fibonacci 78.6% of 2007-2009 range
1,366.59, high of 6/17/2008
1,335.63, high of 6/25/2008
1,313.15, high of 8/11/2008
1,274.42, high of 9/8/2008
1,255.09, high of 9/12/2008
1,238.807, Fibonacci 78.6% of 1,576.09 high
1,228.74, Fibonacci 61.8% of 2007-2009 range
1,220.03, high of 9/25/2008
1,158.76, EW ABC measured move target
1,121.44, Fibonacci 50.0% of 2007-2009 drop
S&P 500 Cash Index Potential Support
1,081.53, low of 10/16/2009
1,075.30, gap from 10/13/08 to 10/14/2009
1,066.71, low of 10/13/2009
1,060.55, high of 10/6/2009
1,042.58, high of 10/5/2009
1,041.17, low of 9/25/2009
1,035.00, low of 9/14/2009
1,042.3, Gann 87.5% of 2009 range
1,019.85, low of 10/2/2009
1,014.14, Fibonacci 38.2% of 2007-2009 drop
1,007.78, Gann 37.5% of 2007-2009 range
991.97, low of 9/2/2009
995.13, Fibonacci 23.6% of 2009 range
978.51, low of 8/17/2009
989.12, Gann 75% of 2009 range
956.23, high of 6/11/2009
932.39, Fibonacci 38.2% of 2009 range
930.17, high of 5/8/2009
881.68, Fibonacci 50% of 2009 range
869.32, low of 7/8/2009
826.83, low of 4/21/2009
830.96, Fibonacci 61.8% of 2009 range
814.53, low of 4/7/2009
813.62, high of 4/1/2009
779.81, low of 3/30/2009
774.23, Gann 25% of 2009 range
758.61, Fibonacci 78.6% of 2009 range
720.51, Gann 12.5% of 2009 range
666.79, intraday low of 3/6/2009
665.23, Fibonacci 61.8% of 2002-2007 upmove
602.07, Fibonacci 38.2% of 1,576.09 high
Daily Rankings of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
1.92% Short 200% MidCap 400 PS, MZZ
1.43% Hong Kong Index, EWH
1.08% Short 200% S&P 500 PS, SDS
0.96% Short 200% Dow 30 PS, DXD
0.90% Short 100% MidCap 400, MYY
0.86% Internet Architecture H, IAH
0.64% Bond, Corp, LQD
0.56% Short 100% S&P 500, SH
0.54% Bond, 20+ Years Treasury, TLT
0.47% Short 100% Dow 30, DOG
0.37% Transportation Av DJ, IYT
0.24% Bond, Aggregate, AGG
0.23% Internet H, HHH
0.23% Bond, 10 Year Treasury, IEF
0.19% Bond, High-Yield Corporate, HYG
0.11% Ultra QQQ Double, QLD
0.11% Technology DJ US, IYW
0.09% Technology Global, IXN
0.09% Malaysia Index, EWM
0.09% Bond, TIPS, TIP
0.06% Short 100% QQQ, PSQ
0.05% Bond, 1-3 Year Treasury, SHY
0.02% Growth LargeCap NASDAQ 100, QQQQ
0.00% Internet B2B H, BHH
0.00% Info Tech VIPERs, VGT
-0.06% Technology GS, IGM
-0.08% Preferred Stock iS, PFF
-0.08% Bank Regional H, RKH
-0.09% Short 200% QQQ PS, QID
-0.11% Consumer Staples SPDR, XLP
-0.12% Semiconductor SPDR, XSD
-0.21% IPOs, First Tr IPOX-100, FPX
-0.24% Consumer Staples VIPERs, VDC
-0.27% Switzerland Index, EWL
-0.29% Consumer Non-Cyclical, IYK
-0.30% Europe 350 S&P Index, IEV
-0.30% Japan Index, EWJ
-0.30% Water Resources, PHO
-0.33% Technology SPDR, XLK
-0.33% Financial Services DJ, IYG
-0.34% LargeCap Rydex Rus Top 50, XLG
-0.34% Austria Index, EWO
-0.36% Lg Cap Growth PSD, PWB
-0.38% Value EAFE MSCI, EFV
-0.38% Growth LargeCap iS M, JKE
-0.38% Semiconductor iS GS, IGW
-0.40% EMU Europe Index, EZU
-0.40% Dividend Achievers PS, PFM
-0.41% France Index, EWQ
-0.41% LargeCap Blend S&P 100, OEF
-0.44% Mexico Index, EWW
-0.44% Financial Preferred, PGF
-0.45% Growth EAFE MSCI, EFG
-0.46% Growth LargeCap NASDAQ Fidelity, ONEQ
-0.47% Pacific VIPERs, VPL
-0.47% DIAMONDS (DJIA), DIA
-0.49% Pacific ex-Japan, EPP
-0.49% S&P 500 iS LargeCap Blend, IVV
-0.50% Growth S&P 500/BARRA, IVW
-0.51% Telecom H, TTH
-0.53% EAFE Index, EFA
-0.53% S&P 500 SPDRs LargeCap Blend, SPY
-0.53% Technology MS sT, MTK
-0.53% Sweden Index, EWD
-0.54% Semiconductor H, SMH
-0.55% Industrials VIPERs, VIS
-0.56% Dividend DJ Select, DVY
-0.56% Dividend Appreciation Vipers, VIG
-0.56% LargeCap VIPERs, VV
-0.57% Energy Exploration & Prod, PXE
-0.57% LargeCap Blend Core iS M, JKD
-0.58% Japan LargeCap Blend TOPIX 150, ITF
-0.58% Telecommunications Global, IXP
-0.58% Growth VIPERs, VUG
-0.59% LargeCap Blend S&P 1500 iS, ISI
-0.59% Global 100, IOO
-0.60% Pharmaceutical H, PPH
-0.60% Growth 1000 Russell, IWF
-0.61% Value S&P 500 B, IVE
-0.61% LargeCap Blend Socially Responsible iS, KLD
-0.61% Growth Large Cap, ELG
-0.61% Blend Total Market VIPERs, VTI
-0.61% LargeCap 1000 R, IWB
-0.62% Commodity Tracking, DBC
-0.62% Global Titans, DGT
-0.62% LargeCap Blend Russell 3000, IWV
-0.62% LargeCap Blend Total Market DJ, IYY
-0.64% Energy SPDR, XLE
-0.64% Growth LargeCap Russell 3000, IWZ
-0.65% Short 200% Bond 7-10 Yr T, PST
-0.65% Internet Infrastructure H, IIH
-0.66% Consumer Cyclical DJ, IYC
-0.66% Value Large Cap DJ, ELV
-0.66% Dividend Leaders, FDL
-0.67% Growth S&P 500, RPG
-0.67% United Kingdom Index, EWU
-0.68% Value 1000 Russell, IWD
-0.68% Value LargeCap Dynamic PS, PWV
-0.68% Value LargeCap NYSE 100 iS, NY
-0.69% Value VIPERs, VTV
-0.69% European VIPERs, VGK
-0.69% Industrial SPDR, XLI
-0.70% China 25 iS, FXI
-0.72% Dividend SPDR, SDY
-0.72% Financials VIPERs, VFH
-0.72% LargeCap Blend S&P=Weight R, RSP
-0.72% Energy VIPERs, VDE
-0.73% Industrial LargeCap Blend DJ US, IYJ
-0.73% OTC Dynamic PS, PWO
-0.73% Spain Index, EWP
-0.76% Financial DJ US, IYF
-0.77% Growth MidCap Russell, IWP
-0.77% Germany Index, EWG
-0.78% Gold Shares S.T., GLD
-0.78% Growth MidCap 400 B, IJK
-0.78% Value LargeCap Russell 3000, IWW
-0.78% MidCap Blend Core iS M, JKG
-0.78% Financial SPDR, XLF
-0.79% Financials Global LargeCap Value, IXG
-0.79% Value MidCap iS M, JKI
-0.80% Networking, IGN
-0.83% Energy DJ, IYE
-0.83% Healthcare Global, IXJ
-0.84% Wilshire 5000 ST TM, TMW
-0.84% Netherlands Index, EWN
-0.85% Value LargeCap Fundamental RAFI 1000, PRF
-0.87% SmallCap Core iS M, JKJ
-0.87% Value MidCap Dynamic PS, PWP
-0.87% Value LargeCap iS M, JKF
-0.88% MidCap VIPERs, VO
-0.88% MidCap S&P 400 SPDRs, MDY
-0.89% Growth MidCap S&P 400, RFG
-0.90% Building & Construction, PKB
-0.91% Basic Materials DJ US, IYM
-0.91% Oil, Crude, U.S. Oil Fund, USO
-0.91% MidCap Growth iS M, JKH
-0.91% MidCap S&P 400 iS, IJH
-0.92% Dividend International, PID
-0.92% Developed 100 BLDRS, ADRD
-0.92% Euro STOXX 50, FEZ
-0.93% Telecommunications & Wireless, PTE
-0.93% Energy Global, IXC
-0.94% LargeCap Blend NYSE Composite iS, NYC
-0.95% Value SmallCap Dynamic PS, PWY
-0.95% Health Care SPDR, XLV
-0.95% LargeCap Blend Dynamic PS, PWC
-0.97% Ultra S&P500 Double, SSO
-0.98% Ultra Dow30 Double, DDM
-0.99% Semiconductors, PSI
-1.00% Utilities SPDR, XLU
-1.01% MidCap Russell, IWR
-1.01% Belgium Index, EWK
-1.01% Consumer Discretionary SPDR, XLY
-1.01% Italy Index, EWI
-1.03% Dividend High Yield Equity PS, PEY
-1.03% Value LargeCap Euro STOXX 50 DJ, FEU
-1.03% Utilities VIPERs, VPU
-1.03% Value MidCap Russell, IWS
-1.04% Healthcare DJ, IYH
-1.05% Materials SPDR, XLB
-1.05% Materials VIPERs, VAW
-1.05% Retail H, RTH
-1.05% Short 200% US T Bond, TBT
-1.06% Utilities DJ, IDU
-1.06% Asia 50 BLDRS, ADRA
-1.06% Food & Beverage, PBJ
-1.07% Australia Index, EWA
-1.07% Extended Mkt VIPERs, VXF
-1.08% Singapore Index, EWS
-1.08% Telecom DJ US, IYZ
-1.08% Growth BARRA Small Cap 600, IJT
-1.10% Value 40 Large Low P/E FT DB, FDV
-1.10% Metals & Mining SPDR, XME
-1.12% Health Care VIPERs, VHT
-1.13% Europe 100 BLDRS, ADRU
-1.13% Insurance, PIC
-1.14% Value MidCap S&P 400 B, IJJ
-1.14% Natural Resource iS GS, IGE
-1.16% Software, IGV
-1.17% Growth Small Cap DJ, DSG
-1.17% Growth SmallCap VIPERs, VBK
-1.17% Value S&P 500, RPV
-1.20% Growth Mid Cap Dynamic PS, PWJ
-1.20% Value SmallCap Russell 2000, IWN
-1.21% Utilities, PUI
-1.22% Consumer D. VIPERs, VCR
-1.22% Software H, SWH
-1.23% Pharmaceuticals, PJP
-1.25% Growth SmallCap iS M, JKK
-1.26% Growth SmallCap R 2000, IWO
-1.26% WilderHill Clean Energy PS, PBW
-1.27% China LargeCap Growth G D H USX PS, PGJ
-1.27% Telecom Services VIPERs, VOX
-1.28% Value Line Timeliness MidCap Gr, PIV
-1.29% Small Cap VIPERs, VB
-1.31% Value SmallCap VIPERS, VBR
-1.31% SmallCap PS Zacks, PZJ
-1.32% Oil Services H, OIH
-1.32% Emerging Markets, EEM
-1.34% Retail, PMR
-1.34% Capital Markets KWB ST, KCE
-1.36% SmallCap S&P 600, IJR
-1.38% Silver Trust iS, SLV
-1.38% SmallCap Russell 2000, IWM
-1.39% India Earnings WTree, EPI
-1.39% Utilities H, UTH
-1.40% Software, PSJ
-1.46% Value SmallCap iS M, JKL
-1.51% Micro Cap Zachs, PZI
-1.51% Value Small Cap DJ, DSV
-1.53% Leisure & Entertainment, PEJ
-1.55% Emerging VIPERs, VWO
-1.58% South Korea Index, EWY
-1.58% Taiwan Index, EWT
-1.60% Growth SmallCap Dynamic PS, PWT
-1.62% Oil & Gas, PXJ
-1.62% Value SmallCap S&P 600 B, IJS
-1.74% Microcap Russell, IWC
-1.77% Ultra MidCap400 Double, MVV
-1.77% Realty Cohen & Steers, ICF
-1.77% Nanotech Lux, PXN
-1.85% REIT VIPERs, VNQ
-1.86% Real Estate US DJ, IYR
-1.98% Aerospace & Defense, PPA
-2.02% Canada Index, EWC
-2.05% Emerging 50 BLDRS, ADRE
-2.06% South Africa Index, EZA
-2.09% REIT Wilshire, RWR
-2.26% Homebuilders SPDR, XHB
-2.43% Latin Am 40, ILF
-2.44% Biotech H, BBH
-2.66% Biotech SPDR, XBI
-2.73% Value SmallCap S&P 600, RZV
-3.09% Biotech & Genome, PBE
-3.82% Brazil Index, EWZ
stocks, spy, iwm, technology, energies, health-care, utilities
