Technology stock sector ETF Relative Strength Ratio (XLK/SPY) rose above previous 10-year highs.
Financial stock sector ETF Relative Strength Ratio (XLF/SPY) rose above its highs of the previous 7 months.
Industrial stock sector ETF Relative Strength Ratio (XLI/SPY) fell below its lows of the previous 3 months, fell below its 200-day SMA, and fell further below its 50-day SMA.
Health Care (XLV) Neutral, Under Weight. The Relative Strength Ratio (XLV/SPY) fell below its lows of the previous 7 months.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below its lows of the previous 2 months.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below its lows of the previous 2 months.
Major stock market indexes ended lower on Tuesday, with the S&P 500 Composite (SPX: 1,405.52) down 0.30%, DJIA down 0.52%, NASDAQ Composite down 0.14%, and more declining than advancing stocks by a ratio of 2 to 1. The cumulative daily A-D Line shows a bearish divergence compared to SPX price since Tuesday, 3/13/12. Momentum of the A-D Line shows bearish divergence compared to the A-D Line itself.
It has been an exceptional year so far, with no downside pullbacks of as much as 3% since 12/19/12, based on SPX close prices. It is extremely unlikely that stocks can continue to go up like this much longer, however, without a significant downside correction. Odds are stocks will experience the usual ups and downs this year. After large price run ups, stocks become more vulnerable to sudden reversals. Therefore, Potential Reward relative to potential Risk appears unattractive for stocks.
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Equity Mutual Funds lost 6% in 2011, according to Lipper Research Services.
Hedge funds lost 5%, according to COO Connect.
Hedge funds suffered their second-worst year on record in 2011, according to an index maintained by Eurekahedge, an independent research firm that specializes in hedge fund data. Some of the world’s largest and best-known hedge funds suffered huge losses, down 20% to 50%.
But not all money managers were down in 2011; see:
Robert W. Colby Asset Management, Inc. (click here).
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9 major U.S. stock sectors ranked in order of long-term relative strength:
Available by subscription only (click here).
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Stock Market Indicators
The Dow Theory may have given an early warning by diverging after 2/3/12, as the Transports turned corrective and failed to confirm higher highs by the Industrials.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose above its highs of the previous 11-years on 3/20/12, confirming its rising trend since the low on 12/29/12. The Ratio remains above its 50-day and 200-day SMAs, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 2/24/12. Absolute price of the NASDAQ Composite broke out above its 11-year high of 3000.11 set on 2/29/12 and has continued to advance.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below its lows of the previous 2 months on 3/20/12. BKF /SPY remains below its 50-day and 200-day SMAs. Longer term, the bias is bearish because the 50-day SMA has remained below the 200-day SMA every day since 1/13/11.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below its lows of the previous 2 months on 3/20/12. EEM/SPY remains below its 50-day and 200-day SMAs. Longer term, the bias is bearish because the 50-day SMA has remained below the 200-day SMA every day since 2/3/11.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below its 50-day SMA on 3/20/12. EFA/SPY remains bearishly below both its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA consistently every day since 1/14/11.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) rose above its highs of the previous 22 months on 3/20/12, reconfirming its preexisting bullish trend. OEX/SPX remains above its 50-day and 200-day SMAs, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 8/25/11. Large Caps tend to outperform in bearish general market trends as investors seek the perceived relative safety of large size. On the other side of the coin, Large Caps tend to underperform Mid Caps and Small Caps in bullish general market trends as investors prefer riskier and more volatile stocks.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) fell below the lows of the previous 9 weeks on 3/6/12, thereby confirming a relatively weak trend for the medium term. IWM/SPY is technically neutral, below its 50-day SMA and 200-day SMA, but with the 50-day SMA now slightly above the 200-day SMA.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below its lows of the previous 2 months on 3/20/12. MDY/SPY is below its 50-day and 200-day SMAs.
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Sentiment for Contrary Thinking
Recent sentiment data, detailed below, indicates alarming degrees of optimism and bullish complacency. When the majority of investors has been bullish for some time, we can assume that they are already fully invested in the market. Once everyone who is going to buy has already bought, stocks are vulnerable to a downside shakeout. The pendulum of emotion tends to swing too far in one direction, but market mood always reverts to the mean.
ABC News reported on 2/21/12 that 10 out of 10 investment strategists at large firms were bullish. http://abcnews.go.com/watch/world-news-with-diane-sawyer/SH5585921/VD55173505/world-news-221-dow-jones-climbs-past-13000
The Commitment of Traders (COT) report showed that the Commercials (giant corporations with deep pockets) have been buying “risk off” defensive futures contracts, specifically, the U.S. dollar and the ten-year Treasury note. On the other side, trend-following Speculators have been buying “risk on” aggressively bullish contracts, setting a new all-time net-long record in the Nasdaq futures. The unusually large size of Speculators’ positions implies a weak-handed, top-heavy stock market.
AAII Sentiment: There were 51.64% Bulls and 20.19% Bears, according to the AAII weekly survey reported on 2/9/12. This was the highest level of bullish sentiment in more than a year, since 52.34% Bulls on 1/13/11.
Investors Intelligence Sentiment: There were 54.8% Bulls versus 25.8% Bears, according to the Investors Intelligence weekly survey of stock market newsletter advisors reported on 2/15/11. This was the highest level of bullish sentiment since the stock market top in May, 2011.
Investment Newsletters recently were 75% bullish, the highest since near the major top in year 2000, according to Hulbert Digest.
Market Vane’s Bullish Consensus among Advisors and Newsletters rose to 65% Bulls–the same extreme level of optimism recorded at the February 2011 top in the stock market.
Short Selling ETFs were trading the lowest volume since the market top in April, 2011, according to Frank D. Gretz of Wellington Shields & Co.
Corporate insiders have been selling their companies’ stock at the heaviest rate since the market peak in April 2011, according to Mark Hulbert at MarketWatch. Insiders sold 656 shares for each 100 shares they bought, according to Argus Research Vickers Weekly Insider Report. That was a big change in insider behavior from 81 shares sold for each 100 shares bought in November. Since corporate insiders (officers, directors, and largest shareholders) know so much more about their companies than the public can possibly know, it is bearish when insiders sell at such a heavy pace.
NYSE short interest collapsed from a high peak of 16.1 billion shares sold short last September, which coincided with the stock market lows, to 12.5 billion shares sold short in February, which was the lowest level since last April, at the market top. Short interest represents a pool of potential demand for stocks, since short sellers eventually must buy back the shares they borrowed. That pool of demand has been depleted.
VIX Fear Index broke down below the lows of the previous 4 years on 3/16/12, hitting 13.66 intraday, its lowest level since 6/20/07. VIX is down from a peak of 48.00 on 8/8/11: such a large drop indicated a shift away from fear and toward bullish complacency. 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.
The S&P 500 Composite Potential Resistance
1576.09, high of 10/11/2007
1552.76, high of 10/31/2007
1523.57, high of 12/11/2007
1498.85, high of 12/26/2007
1440.24, high of 5/19/2008
1414.00, high of 3/19/2012
The S&P 500 Composite Potential Support
1397.68, low of 3/20/2012
1381.50, Fibonacci 78.6% of 2007-2009 range
1378.04, high of 2/29/2012
1376.55, Fibonacci 100.0% projection 10/11 range
1370.58, high of 5/2/11
1340.03, low of 3/6/2012
1337.35, low of 2/10/2012
1300.49, low of 1/30/2012
1277.58, low of 1/13/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1262.06, 200-day SMA
1257.46, low of 12/30/11
1257.58, Fibonacci 61.8% of 2011 range
1255.22, high of 12/22/2011
1248.64, low of 12/29/2011
1244.80, low of 12/7/2011
1239.73, low of 12/1/2011
1238.81, Fibonacci 78.6% of 1,576.09 high
1234.81, low of 11/3/11
1231.04, high of 12/16/11
1226.64, low of 11/9/2011
1222.68, Fibonacci 50% of 2011 range
1224.57, high of 12/19/11
1215.20, low of 12/16/11
1209.47, low of 12/14/2011
1209.43, low of 11/17/2011
1204.49, Fibonacci 23.6% of 2009-11 range
1202.37, low of 12/19/11
1187.77, Fibonacci 38.2% of 2011 range
1158.66, low of 11/25/2011
1144.38, Fibonacci 23.6% of 2011 range
1101.73, Fibonacci 38.2% of 2009-11 range
1074.77, low of 10/4/2011
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
1018.69, Fibonacci 50% of 2009-11 range
1008.55, Fibonacci 38.2% of 2009-2010 range
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
943.29, Gann 50.0% of 2009-2010 range
935.64, Fibonacci 61.8% of 2009-11 range
878.04, Fibonacci 61.8% of 2009-2010 range
874.17, Gann 62.5% of 2009-2010 range
869.32, low of 7/8/2009
817.40, Fibonacci 78.6% of 2009-11 range
805.17, Gann 75.0% of 2009-2010 range
785.13, Fibonacci 78.6% of 2009-2010 range
666.79, intraday low of 3/6/2009
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Fixed-Income Investments
Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) broke down below the lows of the previous 7 months on 3/19/12, which is bearish. Still, TLT is technically neutral according to the 50-day and 200-day simple moving averages: TLT was below its 50-day and 200-day SMAs on 3/19/12, but the 50-day SMA has remained above the 200-day SMA every day since 6/24/11. Support 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 119.14, 120.91, 121.64, 121.76, 124.02 and 125.03.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) broke down below the lows of the previous 5 months on 3/19/12, which is bearish. Still, IEF is technically neutral according to the 50-day and 200-day simple moving averages: IEF fell below its 50-day and 200-day SMAs on 3/19/12, but the 50-day SMA has remained above the 200-day SMA every day since 6/21/11. Support 101.36, 101.11, 99.79, and 97.66. Resistance 105.80, 106.49 and 106.66.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) is neutral. JNK/LQD is above its 50-day and 200-day SMAs, but the 50-day SMA has remained bearishly below the 200-day SMA every day since 6/20/11. That 50-200 SMA spread has been narrowing, however.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) turned bullish on 3/14/12 when the 50-day SMA rose above the 200-day SMA. TIP/IEF remains above both its 50-day and 200-day SMAs. The market recognizes that the Fed, ECB, and other global monetary authorities are willing to print money out of thin air as necessary in order to support the financial system.
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Tangible Assets, Commodities
U.S. dollar ETF (UUP) fell below the lows of the previous 6 trading days on 3/19/12. UUP fell below its 50-day SMA on 3/16/12 but remains above its 200-day SMA. Longer term, the 50-day SMA has remained consistently above the 200-day SMA every day since 10/26/11. Support 22.01, 21.74, 21.58, 21.07, and 20.84. Resistance 22.47, 22.85, 23.52, 25.84, 27.19, 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) remains technically bearish below both its 50-day SMA and 200-day SMAs, and with the 50-day SMA consistently below the 200-day SMA every day since 8/8/11.
Crude Oil, United States Oil ETF (USO) remains technically bullish for the medium term, positioned above both its 50-day and 200-day SMAs, and with the 50-day SMA above the 200-day SMA consistently every day since 1/3/12. Support 39.70, 38.51, 36.67, 35.73, 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 41.38, 42.30, and 45.60.
Gold, SPDR Gold Shares ETF (GLD) fell below its lows of the previous 8-weeks and fell further below both its 50-day and 200-day SMAs on 3/14/12. GLD has been correcting and consolidating since peaking at 185.85 on 9/6/11. Longer term, the 50-day SMA has remained bullishly above the 200-day SMA every day since 2/11/09. Support: 158.80, 158.01, 156.19, 154.55, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 166.57, 174.00, 175.46, 177.40, and 185.85.
Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) fell below the lows of the previous 3 years on 3/20/12, thereby reconfirming a bearish major trend for the long term. The 50-day SMA has remained bearishly below the 200-day SMA every day since 2/22/11.
Silver, iShares Silver Trust ETF (SLV) fell below the lows of the previous 7 weeks and fell below its 50-day SMA on 3/14/12, thereby turning technically bearish. SLV remains below its 200-day SMA, and the 50-day SMA has been below the 200-day SMA every day since 10/27/11. Support 30.73, 30.67, 28.63, 27.83, 25.65, and 24.44. Resistance: 33.44, 36.44, 40.23, 41.49, 42.30, 42.78, 44.71 and 48.35.
Silver/Gold ETFs Ratio (SLV/GLD) fell below its lows of the previous 4 weeks on 3/20/12. SLV/GLD is now only slightly above its 50-day SMA, remains below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 8/30/11.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) fell below the lows of the previous 6 trading days on 3/20/12. JJC closed only slightly above its 50-day and 200-day SMAs. The 50-day SMA has remained below the 200-day SMA every day since 8/8/11. JJC remains far below its 2011 high at 61.69 and recently has been lagging the stock market since JJC peaked at 51.41 on 2/9/12. Given that “Dr. Copper” is one of the better indicators of investor confidence (or lack thereof) in the global industrial economy, this underperformance may be suggesting rising doubts about prospects going forward.
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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
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
2.89% , WMB , WILLIAMS
6.68% , TIF , TIFFANY
3.67% , AMZN , Amazoncom Inc
2.84% , NTAP , NETWK APPLIANCE
1.46% , KWT , Solar Energy MV, KWT
5.36% , OMX , OFFICEMAX INC., OMX
1.96% , FMCN , Focus Media, FMCN
2.07% , MRVL , MARVELL TECHNOLOGY
2.14% , CSCO , CISCO SYSTEMS
1.67% , YUM , YUM BRANDS
2.01% , ROST , Ross Stores Inc
0.83% , CROX , CROCS Inc., CROX
0.67% , MYY , Short 100% MidCap 400, MYY
1.87% , AIG , AMER INTL GROUP
1.32% , MZZ , Short 200% MidCap 400 PS, MZZ
0.72% , GCI , GANNETT
1.42% , HRB , H&R BLOCK
1.88% , SPLS , STAPLES
1.15% , LRCX , LAM RESEARCH CORP
2.52% , URBN , Urban Outfitters Inc.
1.72% , YHOO , YAHOO
0.49% , ADRA , Asia 50 BLDRS, ADRA
0.50% , CTAS , CINTAS
1.14% , ORCL , ORACLE
0.84% , PRU , PRUDENTIAL FINL
2.10% , JCP , JC PENNEY
0.47% , ECL , ECOLAB
0.76% , D , DOMINION RSCS
0.25% , IXP , Telecommunications Global, IXP
0.45% , STI , SUNTRUST BANKS
1.32% , CCE , COCA COLA ENTER
0.97% , TJX , TJX
0.63% , KLAC , KLA TENCOR
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-1.94% , ADRU , Europe 100 BLDRS, ADRU
-0.88% , IGN , Networking, IGN
-0.86% , ADRD , Developed 100 BLDRS, ADRD
-0.92% , EWQ , France Index, EWQ
-3.91% , ADBE , ADOBE SYS
-1.42% , ADRE , Emerging 50 BLDRS, ADRE
-0.76% , PWO , OTC Dynamic PS, PWO
-1.43% , PPA , Aerospace & Defense, PPA
-3.58% , CMI , CUMMINS
-1.15% , IYJ , Industrial LargeCap Blend DJ US, IYJ
-2.94% , XLNX , XILINX
-0.72% , EWO , Austria Index, EWO
-2.40% , ROK , ROCKWELL AUTOMAT
-1.31% , ZEUS , Olympic Steel, ZEUS
-1.06% , EFV , Value EAFE MSCI, EFV
-1.07% , EZU , EMU Europe Index, EZU
-1.40% , EPI , India Earnings WTree, EPI
-1.44% , EWH , Hong Kong Index, EWH
-1.82% , TUR , Turkey MSCI iS, TUR
-2.23% , FLR , FLUOR
-2.36% , JBL , JABIL CIRCUIT
-3.49% , OXY , OCCIDENTAL
-0.95% , PZI , Micro Cap Zachs, PZI
-2.81% , TXT , TEXTRON
-2.61% , CAT , CATERPILLAR
-2.12% , PXJ , Oil & Gas, PXJ
-1.54% , EZA , South Africa Index, EZA
-2.68% , IPG , INTERPUBLIC GRP
-2.28% , TLAB , TELLABS
-1.88% , DBO , Oil Fund PowerShares, DBO
-1.04% , JKK , Growth SmallCap iS M, JKK
-1.48% , HPQ , HEWLETT PACKARD
-2.20% , HP , Helmerich & Payne HP
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
0.47% Financial SPDR, XLF
0.40% Bond, 20+ Years Treasury, TLT
0.31% Bear, Short S&P 500, SH
0.30% Financial Services DJ, IYG
0.18% Financials VIPERs, VFH
0.18% QQQ Nasdaq 100 Trust, QQQ
0.17% Consumer Discretionary SPDR, XLY
0.15% Bond, Aggregate, AGG
0.12% Financial DJ US, IYF
0.12% Utilities SPDR, XLU
0.08% Utilities VIPERs, VPU
0.05% Bond, 10 Year Treasury, IEF
0.00% Financial Preferred, PGF
0.00% Bond Treasury Short-Term iS, SHV
-0.02% Bond, 1-3 Year Treasury, SHY
-0.04% Technology DJ US, IYW
-0.06% Consumer Staples SPDR, XLP
-0.06% Bond, Corp, LQD
-0.08% Bond, High-Yield Corporate, HYG
-0.10% Bond, TIPS, TIP
-0.10% Technology SPDR, XLK
-0.10% Bond Muni ATM-Free S&P iS, MUB
-0.14% REIT VIPERs, VNQ
-0.15% Bond, High-Yield Junk, JNK
-0.16% Preferred Stock iS, PFF
-0.17% REIT Wilshire, RWR
-0.18% Info Tech VIPERs, VGT
-0.19% Telecom DJ US, IYZ
-0.20% Capital Markets KWB ST, KCE
-0.22% Realty Cohen & Steers, ICF
-0.23% LargeCap Blend S&P 100, OEF
-0.24% Real Estate US DJ, IYR
-0.24% Value S&P 500 B, IVE
-0.27% Dividend DJ Select, DVY
-0.29% Value VIPERs, VTV
-0.29% S&P 500 SPDRs LargeCap Blend, SPY
-0.30% Value 1000 Russell, IWD
-0.30% S&P 500 iS LargeCap Blend, IVV
-0.31% LargeCap 1000 R, IWB
-0.32% Dividend SPDR, SDY
-0.34% Blend Total Market VIPERs, VTI
-0.34% WilderHill Clean Energy PS, PBW
-0.34% Bond EmrgMkt JPM iS, EMB
-0.35% Spain Index, EWP
-0.35% LargeCap VIPERs, VV
-0.36% Growth S&P 500/BARRA, IVW
-0.37% Bond Ex-US Treas, BWX
-0.38% Value LargeCap Dynamic PS, PWV
-0.39% LargeCap Blend Russell 3000, IWV
-0.41% Frontier Markets Guggenheim , FRN
-0.41% Growth VIPERs, VUG
-0.42% Growth 1000 Russell, IWF
-0.42% Dividend High Yield Equity PS, PEY
-0.45% Agriculture DB PS, DBA
-0.48% Dividend Appreciation Vipers, VIG
-0.50% LargeCap Blend S&P=Weight R, RSP
-0.52% Health Care SPDR, XLV
-0.52% DIAMONDS (DJIA), DIA
-0.55% Value MidCap Russell, IWS
-0.56% Materials SPDR, XLB
-0.59% Global 100, IOO
-0.61% Semiconductor SPDR, XSD
-0.62% MidCap Russell, IWR
-0.62% Thailand MSCI iS, THD
-0.66% Switzerland Index, EWL
-0.67% Growth MidCap 400 B, IJK
-0.70% Growth MidCap Russell, IWP
-0.71% Value MidCap S&P 400 B, IJJ
-0.72% Austria Index, EWO
-0.73% MidCap S&P 400 iS, IJH
-0.73% MidCap S&P 400 SPDRs, MDY
-0.77% Chile MSCI iS, ECH
-0.77% Dividend International, PID
-0.78% Growth BARRA Small Cap 600, IJT
-0.79% Semiconductor iS IGW, SOXX
-0.79% Homebuilders SPDR, XHB
-0.80% Canada Index, EWC
-0.80% Value SmallCap VIPERS, VBR
-0.81% Belgium Index, EWK
-0.81% Basic Materials DJ US, IYM
-0.85% Value SmallCap Russell 2000, IWN
-0.87% Small Cap VIPERs, VB
-0.88% Networking, IGN
-0.89% Netherlands Index, EWN
-0.89% Water Resources, PHO
-0.89% Microcap Russell, IWC
-0.89% SmallCap Russell 2000, IWM
-0.90% SmallCap S&P 600, IJR
-0.90% Gold Shares S.T., GLD
-0.92% Mexico Index, EWW
-0.92% France Index, EWQ
-0.95% India PS, PIN
-0.99% Japan Index, EWJ
-1.01% Growth SmallCap VIPERs, VBK
-1.01% Value SmallCap S&P 600 B, IJS
-1.05% Growth SmallCap R 2000, IWO
-1.06% Value EAFE MSCI, EFV
-1.07% EMU Europe Index, EZU
-1.16% Industrial SPDR, XLI
-1.17% Small Cap EAFE MSCI iS, SCZ
-1.17% Europe 350 S&P Index, IEV
-1.18% EAFE Index, EFA
-1.20% Pacific VIPERs, VPL
-1.21% Latin Am 40, ILF
-1.22% Commodity Tracking, DBC
-1.23% Global ex US ACWI iS, ACWX
-1.23% European VIPERs, VGK
-1.24% United Kingdom Index, EWU
-1.32% Growth EAFE MSCI, EFG
-1.32% Singapore Index, EWS
-1.35% Germany Index, EWG
-1.36% Brazil Index, EWZ
-1.38% South Korea Index, EWY
-1.39% Transportation Av DJ, IYT
-1.39% China LargeCap Growth G D H USX PS, PGJ
-1.40% India Earnings WTree, EPI
-1.40% Emerging VIPERs, VWO
-1.42% Emerging 50 BLDRS, ADRE
-1.44% Hong Kong Index, EWH
-1.44% Malaysia Index, EWM
-1.49% Metals & Mining SPDR, XME
-1.50% Energy SPDR, XLE
-1.50% Italy Index, EWI
-1.54% South Africa Index, EZA
-1.54% Energy DJ, IYE
-1.55% Energy & Nat Res iS GS, IGE
-1.56% Energy VIPERs, VDE
-1.59% Energy Global, IXC
-1.73% Emerging Markets, EEM
-1.74% Biotech SPDR, XBI
-1.82% Turkey MSCI iS, TUR
-1.84% China 25 iS, FXI
-1.85% Taiwan Index, EWT
-1.88% Oil Fund PowerShares, DBO
-2.00% Sweden Index, EWD
-2.04% Pacific ex-Japan, EPP
-2.08% Oil, Crude, U.S. Oil Fund, USO
-2.15% Australia Index, EWA
-2.19% Indonesia MV, IDX
-2.47% Russia MV, RSX
-2.60% Silver Trust iS, SLV
