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Daily Stock Market Commentary
Stock Market: Short-term corrections are evident. It is very important to put conflicting trends in different time frames into proper perspective.
There have been many short-term signals this week. This swing-trading time frame is fickle and can change suddenly. For investors, it is important to weigh the major long-term trends much more heavily. The following technical developments on Tuesday, October 27, 2009, may be significant for short-term trading.
The U.S. dollar nearest futures contract price rose further above the highs of the previous 2 weeks.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) broke out above the highs of the previous 8 weeks.
The Small Cap/Large Cap Relative Strength Ratio (IWM/SPY) fell below the lows of the previous 13-weeks.
The Mid Cap/Large Cap Relative Strength Ratio (MDY/SPY) broke down to a new 7-week low.
The S&P 500 equally weighted index relative to the S&P 500 capitalization weighted index broke down to a new 7-week low.
S&P 500 price index broke down below the lows of the past 12 trading days.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 3 weeks.
Materials Stock Sector Relative Strength Ratio (XLB/SPY) broke down to a new 13-week low.
Industrial Stock Sector Relative Strength Ratio (XLI/SPY) broke down to a new 8-week low.
Bond Quality Relative Strength Ratio (JNK/LQD) fell below the lows of the previous 2 weeks.
Crude Oil nearest futures contract price fell below the lows of the previous 3 trading days.
Gold nearest futures contract price fell below the lows of the previous 3 weeks.
Silver/Gold Ratio broke down to a new 8-week low.
Copper nearest futures contract price fell below the lows of the previous 3 trading days.
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
15.52% , CR , CRANE
7.14% , TXT , TEXTRON
4.85% , BMS , BEMIS
1.75% , HSP , HOSPIRA
4.11% , CI , CIGNA
3.28% , CVG , CONVERGYS
2.28% , NBR , NABORS
4.70% , UNH , UNITEDHEALTH GRP
3.66% , WLP , WELLPOINT HEALTH
1.48% , TUP , TUPPERWARE
2.11% , TNB , THOMAS & BETTS
1.54% , WAT , WATERS
1.14% , MKC , MCCORMICK
0.58% , PPH , Pharmaceutical H, PPH
1.22% , BBY , BEST BUY
2.16% , CEPH , Cephalon Inc
0.94% , LBTYA , Liberty Global Inc. (LBTYA)
0.72% , PBG , PEPSI BOTTLING
3.48% , HUM , HUMANA
0.98% , DGT , Global Titans, DGT
0.88% , PEP , PEPSICO
2.09% , MZZ , Short 200% MidCap 400 PS, MZZ
0.45% , BJS , BJ SERVICES
0.88% , PNW , PINNACLE WEST
3.60% , AET , AETNA
2.29% , XOM , EXXON MOBIL
1.36% , PPG , PPG INDUSTRIES
1.30% , COP , CONOCOPHILLIPS
1.13% , NI , NISOURCE
1.10% , TMK , TORCHMARK
0.40% , PXN , Nanotech Lux, PXN
2.85% , QID , Short 200% QQQ PS, QID
0.24% , PGN , PROGRESS ENERGY
0.42% , TXN , TEXAS INSTRUMENT
0.38% , AVY , AVERY DENNISON
0.45% , IBM , IBM
0.53% , MHS , MEDCO HEALTH
0.25% , GENZ , GENZYME GEN
0.53% , NKE , NIKE STK B
0.57% , RAI , RJR TOBACCO HLDS
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-11.00% , WYNN , Wynn Resorts L
-0.51% , UTH , Utilities H, UTH
-1.71% , PZI , Micro Cap Zachs, PZI
-1.86% , PSI , Semiconductors, PSI
-1.69% , RFV , Value MidCap S&P 400, RFV
-6.67% , IGT , INTL GAME TECH
-1.71% , IWC , Microcap Russell, IWC
-8.82% , HMA , HEALTH MGMT STK A
-10.28% , CIT , CIT GROUP
-7.73% , CAR , Avis Budget Group, Inc. (CAR)
-7.81% , X , US STEEL CORP
-2.69% , PEJ , Leisure & Entertainment, PEJ
-6.55% , VFC , VF
-8.11% , LTD , LIMITED BRANDS
-1.50% , HHH , Internet H, HHH
-3.08% , WAG , WALGREEN
-4.13% , JCP , JC PENNEY
-5.10% , UNP , UNION PACIFIC
-4.93% , RZV , Value SmallCap S&P 600, RZV
-4.76% , JCI , JOHNSON CONTROLS
-2.03% , VCR , Consumer D. VIPERs, VCR
-4.13% , PCAR , PACCAR
-4.79% , SBUX , STARBUCKS
-2.67% , ERTS , ELECTRONIC ARTS
-1.42% , EZU , EMU Europe Index, EZU
-5.27% , HOT , STARWOOD HOTELS
-1.12% , PWP , Value MidCap Dynamic PS, PWP
-1.82% , KCE , Capital Markets KWB ST, KCE
-5.22% , NUE , NUCOR
-3.56% , BEN , FRANKLIN RSC
-3.86% , JNY , JONES APPAREL
-1.86% , EWI , Italy Index, EWI
-4.49% , JWN , NORDSTROM
-4.80% , KSU , Kansas City Southern, KSU
-7.15% , LIZ , LIZ CLAIRBORNE
-3.16% , EPI , India Earnings WTree, EPI
-2.53% , FPL , FPL GROUP INC
-1.80% , IYT , Transportation Av DJ, IYT
-2.71% , FDX , FEDEX
-2.45% , STLD , Steel Dynamics, STLD
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) broke out to a new 5-month high on 10/26/09. Short term and intermediate term, the relative trend is bullish. Long term, XLY was relatively strong from 11/19/08 to 4/30/09, and that trend may resume.
Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) broke out to a new 12-week high on 10/26/09. Short term and intermediate term, the relative trend is bullish. 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.
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) turned up on 10/27/09. XLE/SPY was in a strong uptrend 10/2/09 to 10/21/09. 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.
Financial (XLF) Neutral, Market Weight. The Relative Strength Ratio (XLF/SPY) turned down since making a peak on 10/14/09. XLF/SPY broke down to a new 11-week low on 10/21/09.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) broke down to a new 13-week low on 10/27/09. Short term and intermediate term, the relative trend is bearish. Long term, XLB/SPY has underperformed since 6/23/08.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) broke down to a new 8-week low on 10/27/09. XLI/SPY has underperformed since making a high on 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. The long-term trend peaked on 3/31/08.
Health Care (XLV) Bearish, Underweight. The Relative Strength Ratio (XLV/SPY) fell further below the lows of the previous 12 months on 10/22/09. 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) fell below the lows of the previous 3 weeks on 10/27/09, signaling a downside correction for the short term. EEM/SPY moved above previous 6-year highs on 10/14/09, confirming a major bull market trend.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) rose above previous 6-week highs on 10/21/09. The ratio outperformed from 10/27/08 to 9/9/09, and that uptrend could resume eventually. 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 peaked out on 7/23/09 and has been correcting and consolidating since.
Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) broke out above highs of the previous 11 weeks on 10/26/09. IWF/IWD was in an uptrend from 8/8/06 to 3/5/09, and it seems quite possible that uptrend could resume.
Russell 1000 Value ETF Relative Strength Ratio (IWD/SPY) broke down below the lows of the previous 11 weeks on 10/26/09. IWD/SPY has underperformed since 9/18/09. Long term, IWD/SPY remains in a bearish trend, underperforming since 3/22/07.
The S&P 500 equally weighted index relative to the S&P 500 capitalization weighted index broke down to a new 7-week low on 10/27/09, indicating a significant downside correction. 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 out above the highs of the previous 8 weeks on 10/27/09, as the market shifted back again toward a less aggressive risk seeking posture.
The Small Cap/Large Cap Relative Strength Ratio (IWM/SPY) fell below the lows of the previous 13-weeks on 10/27/09, confirming again the preexisting bearish trend.
The Mid Cap/Large Cap Relative Strength Ratio (MDY/SPY) broke down to a new 7-week low on 10/27/09, indicating a significant downside correction. The major secular trend since 1999 remains bullish, however.
Crude Oil nearest futures contract price fell below the lows of the previous 3 trading days on 10/27/09. But oil just made a new 12-month high of 82.00 on 10/21/09, confirming a bullish major trend. Potential support may be seen at the 77.64 low of 10/21/09 and at the high of 75.00 set on 8/25/09.
Gold nearest futures contract price fell below the lows of the previous 3 weeks on 10/27/09, confirming a downside correction for the short term. Gold rose to an all-time high of 1072.0 on 10/14/09, confirming a bullish major trend. Technical supports might be found around previous highs and lows at 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 after 10/13/09. The short-term trend appears relatively weak. 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 broke down to a new 8-week low on 10/27/09, indicating a significant downside correction. A downtrend suggests doubts about global economic prospects.
Copper nearest futures contract price fell below the lows of the previous 3 trading days on 10/27/09, confirming a bearish trend for the short term. Copper broke out to a new 13-month high of 3.0575 on 10/21/09, confirming that the main trend remains bullish. Falling copper prices suggest doubts about global economic prospects, while rising copper prices suggest growing confidence.
U.S. Treasury Bond December futures contract price fell below the lows of the previous 6 weeks on 10/26/09, turning the short-term trend bearish. The Bond may find short-term support around the previous lows of 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 Relative Strength Ratio (JNK/LQD) fell below the lows of the previous 2 weeks on 10/27/09, signaling a downside correction for the short term. When JNK/LQD is in weak, that indicates a waning appetite for risk—but that applies only to short-term trading, in this case. Long term, JNK/LQD rose to a new 12-month high on 10/23/09, indicating an increasing appetite for risk. It is very important to put conflicting trends in different time frames into perspective, giving much more weight to the major long-term trend.
The U.S. dollar nearest futures contract price rose further above the highs of the previous 2 weeks on 10/27/09. That may seem bullish for the short term, but the dominant trend is not bullish. USD fell below the lows of the previous 14 months on 10/21/09, confirming a bearish major 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 49.5% Bulls versus 23.1% Bears as of 10/21/09, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio was 2.14, up from 1.79 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 20.10 on 10/21/09, 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 20.75 on 10/21/09. 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
1,101.36, high of 10/21/2009
S&P 500 Cash Index Potential Support
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
2.85% Short 200% QQQ PS, QID
2.09% Short 200% MidCap 400 PS, MZZ
1.45% Short 100% QQQ, PSQ
1.37% Bond, 20+ Years Treasury, TLT
1.26% Short 100% MidCap 400, MYY
1.15% Oil, Crude, U.S. Oil Fund, USO
1.10% Telecom H, TTH
0.98% Global Titans, DGT
0.89% Energy SPDR, XLE
0.87% Short 200% S&P 500 PS, SDS
0.86% Bond, Corp, LQD
0.86% Bond, 10 Year Treasury, IEF
0.83% Energy DJ, IYE
0.80% Bond, TIPS, TIP
0.67% Energy VIPERs, VDE
0.58% Healthcare Global, IXJ
0.58% Pharmaceutical H, PPH
0.58% Telecommunications Global, IXP
0.50% Healthcare DJ, IYH
0.42% Health Care SPDR, XLV
0.40% Nanotech Lux, PXN
0.40% Short 100% S&P 500, SH
0.39% Bond, Aggregate, AGG
0.38% Dividend Leaders, FDL
0.36% Value LargeCap iS M, JKF
0.24% Health Care VIPERs, VHT
0.22% Energy Global, IXC
0.20% Bond, 1-3 Year Treasury, SHY
0.19% Value LargeCap NYSE 100 iS, NY
0.18% Value LargeCap Euro STOXX 50 DJ, FEU
0.17% LargeCap Rydex Rus Top 50, XLG
0.15% Ultra Dow30 Double, DDM
0.14% Energy Exploration & Prod, PXE
0.12% Pharmaceuticals, PJP
0.11% Consumer Staples VIPERs, VDC
0.09% Malaysia Index, EWM
0.08% Consumer Staples SPDR, XLP
0.05% Value Large Cap DJ, ELV
0.01% DIAMONDS (DJIA), DIA
0.00% Switzerland Index, EWL
0.00% Natural Resource iS GS, IGE
0.00% Internet B2B H, BHH
0.00% Developed 100 BLDRS, ADRD
-0.01% Gold Shares S.T., GLD
-0.03% Short 200% Dow 30 PS, DXD
-0.05% Dividend DJ Select, DVY
-0.05% Value 40 Large Low P/E FT DB, FDV
-0.06% Value LargeCap Dynamic PS, PWV
-0.08% Taiwan Index, EWT
-0.10% Biotech H, BBH
-0.11% Short 100% Dow 30, DOG
-0.14% LargeCap Blend S&P 100, OEF
-0.16% Consumer Non-Cyclical, IYK
-0.17% Dividend Achievers PS, PFM
-0.17% Global 100, IOO
-0.17% Value VIPERs, VTV
-0.18% Value 1000 Russell, IWD
-0.19% IPOs, First Tr IPOX-100, FPX
-0.20% China 25 iS, FXI
-0.22% Food & Beverage, PBJ
-0.22% Telecom DJ US, IYZ
-0.24% Utilities SPDR, XLU
-0.25% United Kingdom Index, EWU
-0.27% Software H, SWH
-0.27% Japan LargeCap Blend TOPIX 150, ITF
-0.28% Utilities, PUI
-0.28% Europe 100 BLDRS, ADRU
-0.29% Biotech SPDR, XBI
-0.29% Oil Services H, OIH
-0.29% Dividend SPDR, SDY
-0.32% Growth S&P 500/BARRA, IVW
-0.33% LargeCap Blend Dynamic PS, PWC
-0.34% Wilshire 5000 ST TM, TMW
-0.34% Value LargeCap Russell 3000, IWW
-0.34% Telecom Services VIPERs, VOX
-0.34% Dividend High Yield Equity PS, PEY
-0.36% Utilities DJ, IDU
-0.36% LargeCap Blend Core iS M, JKD
-0.37% Insurance, PIC
-0.38% Biotech & Genome, PBE
-0.39% LargeCap VIPERs, VV
-0.39% S&P 500 iS LargeCap Blend, IVV
-0.39% Utilities VIPERs, VPU
-0.40% Dividend Appreciation Vipers, VIG
-0.41% Japan Index, EWJ
-0.42% Preferred Stock iS, PFF
-0.43% LargeCap Blend Socially Responsible iS, KLD
-0.44% Financial Services DJ, IYG
-0.45% LargeCap Blend Russell 3000, IWV
-0.45% Bank Regional H, RKH
-0.45% LargeCap Blend NYSE Composite iS, NYC
-0.46% S&P 500 SPDRs LargeCap Blend, SPY
-0.48% Telecommunications & Wireless, PTE
-0.50% LargeCap Blend S&P 1500 iS, ISI
-0.51% Utilities H, UTH
-0.52% Technology SPDR, XLK
-0.53% LargeCap 1000 R, IWB
-0.53% LargeCap Blend Total Market DJ, IYY
-0.53% Aerospace & Defense, PPA
-0.53% Value S&P 500 B, IVE
-0.54% Blend Total Market VIPERs, VTI
-0.60% Asia 50 BLDRS, ADRA
-0.64% European VIPERs, VGK
-0.64% Growth VIPERs, VUG
-0.64% Singapore Index, EWS
-0.65% Financial DJ US, IYF
-0.68% Financials VIPERs, VFH
-0.69% Growth Large Cap, ELG
-0.69% Internet Infrastructure H, IIH
-0.70% Commodity Tracking, DBC
-0.71% Sweden Index, EWD
-0.72% Growth EAFE MSCI, EFG
-0.73% Pacific VIPERs, VPL
-0.73% Value SmallCap Dynamic PS, PWY
-0.74% Growth Mid Cap Dynamic PS, PWJ
-0.74% Europe 350 S&P Index, IEV
-0.74% Oil & Gas, PXJ
-0.75% Financial SPDR, XLF
-0.77% MidCap Blend Core iS M, JKG
-0.78% Growth LargeCap iS M, JKE
-0.78% Growth LargeCap Russell 3000, IWZ
-0.78% Bond, High-Yield Corporate, HYG
-0.78% Growth 1000 Russell, IWF
-0.80% EAFE Index, EFA
-0.80% Water Resources, PHO
-0.81% Dividend International, PID
-0.81% Value MidCap iS M, JKI
-0.81% Materials SPDR, XLB
-0.82% Value EAFE MSCI, EFV
-0.85% Internet Architecture H, IAH
-0.85% LargeCap Blend S&P=Weight R, RSP
-0.88% SmallCap PS Zacks, PZJ
-0.89% Value LargeCap Fundamental RAFI 1000, PRF
-0.89% France Index, EWQ
-0.90% South Korea Index, EWY
-0.91% Technology Global, IXN
-0.92% Spain Index, EWP
-0.94% Ultra S&P500 Double, SSO
-0.97% Industrial LargeCap Blend DJ US, IYJ
-0.98% Info Tech VIPERs, VGT
-0.99% Euro STOXX 50, FEZ
-0.99% Value MidCap Russell, IWS
-0.99% Hong Kong Index, EWH
-1.01% Value SmallCap Russell 2000, IWN
-1.01% Materials VIPERs, VAW
-1.02% Lg Cap Growth PSD, PWB
-1.03% Value SmallCap S&P 600 B, IJS
-1.03% Technology DJ US, IYW
-1.04% Value MidCap S&P 400 B, IJJ
-1.06% WilderHill Clean Energy PS, PBW
-1.06% Basic Materials DJ US, IYM
-1.08% MidCap Russell, IWR
-1.10% Value SmallCap VIPERS, VBR
-1.10% Growth LargeCap NASDAQ Fidelity, ONEQ
-1.11% Financial Preferred, PGF
-1.12% Value SmallCap iS M, JKL
-1.12% OTC Dynamic PS, PWO
-1.12% Value MidCap Dynamic PS, PWP
-1.12% Building & Construction, PKB
-1.12% Software, PSJ
-1.13% Industrials VIPERs, VIS
-1.15% MidCap Growth iS M, JKH
-1.15% MidCap VIPERs, VO
-1.17% MidCap S&P 400 iS, IJH
-1.17% Growth S&P 500, RPG
-1.18% MidCap S&P 400 SPDRs, MDY
-1.19% Value Small Cap DJ, DSV
-1.19% SmallCap S&P 600, IJR
-1.19% Value Line Timeliness MidCap Gr, PIV
-1.22% Australia Index, EWA
-1.22% Small Cap VIPERs, VB
-1.23% SmallCap Russell 2000, IWM
-1.24% Growth SmallCap Dynamic PS, PWT
-1.24% Extended Mkt VIPERs, VXF
-1.26% Growth MidCap Russell, IWP
-1.28% Technology GS, IGM
-1.32% Growth SmallCap iS M, JKK
-1.32% Pacific ex-Japan, EPP
-1.35% Homebuilders SPDR, XHB
-1.36% Industrial SPDR, XLI
-1.39% Growth SmallCap R 2000, IWO
-1.39% Retail H, RTH
-1.41% Software, IGV
-1.41% SmallCap Core iS M, JKJ
-1.42% EMU Europe Index, EZU
-1.43% REIT Wilshire, RWR
-1.43% Netherlands Index, EWN
-1.45% REIT VIPERs, VNQ
-1.45% Growth MidCap 400 B, IJK
-1.46% Networking, IGN
-1.47% Germany Index, EWG
-1.50% Internet H, HHH
-1.50% Semiconductor H, SMH
-1.50% Growth SmallCap VIPERs, VBK
-1.50% Growth BARRA Small Cap 600, IJT
-1.51% Growth LargeCap NASDAQ 100, QQQQ
-1.52% Real Estate US DJ, IYR
-1.53% Financials Global LargeCap Value, IXG
-1.53% Consumer Cyclical DJ, IYC
-1.54% Growth Small Cap DJ, DSG
-1.59% Canada Index, EWC
-1.63% Realty Cohen & Steers, ICF
-1.65% Emerging VIPERs, VWO
-1.71% Micro Cap Zachs, PZI
-1.71% Microcap Russell, IWC
-1.71% Consumer Discretionary SPDR, XLY
-1.74% Emerging Markets, EEM
-1.75% Technology MS sT, MTK
-1.80% Transportation Av DJ, IYT
-1.82% Capital Markets KWB ST, KCE
-1.86% Italy Index, EWI
-1.86% Short 200% Bond 7-10 Yr T, PST
-1.86% Emerging 50 BLDRS, ADRE
-1.86% Semiconductors, PSI
-1.92% Growth MidCap S&P 400, RFG
-1.93% South Africa Index, EZA
-1.95% Value S&P 500, RPV
-2.03% Consumer D. VIPERs, VCR
-2.20% Mexico Index, EWW
-2.20% Metals & Mining SPDR, XME
-2.22% Ultra MidCap400 Double, MVV
-2.25% China LargeCap Growth G D H USX PS, PGJ
-2.32% Semiconductor iS GS, IGW
-2.47% Austria Index, EWO
-2.49% Latin Am 40, ILF
-2.54% Semiconductor SPDR, XSD
-2.68% Silver Trust iS, SLV
-2.69% Leisure & Entertainment, PEJ
-2.86% Belgium Index, EWK
-2.90% Short 200% US T Bond, TBT
-2.96% Brazil Index, EWZ
-2.96% Ultra QQQ Double, QLD
-3.14% Retail, PMR
-3.16% India Earnings WTree, EPI
-4.93% Value SmallCap S&P 600, RZV
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