Short-Term Trend Appears to Have Turned Down

S&P 500 Composite (SPX, 1,324.46) fell 3.71 points or 0.28% on Monday 4/11/11. SPX gapped higher on the open but soon peaked at 9:51 a.m. ET. Stock prices reversed again to close below the closes of the previous 8 trading days. Last week, the minor short-term trend became overbought and lost upside momentum, and now that short-term trend appears to have turned down.

VIX Fear Index fell below its 7-week range, hitting 16.22 intraday, and again confirming a return to bullish complacency.

Health Care SPDR stock sector ETF Relative Strength Ratio (XLV/SPY) rose above 3-month highs but remains neutral.

Consumer Staples SPDR stock sector ETF Relative Strength Ratio (XLV/SPY) rose above 2-month but remains neutral.

Utilities SPDR stock sector ETF Relative Strength Ratio (XLU/SPY) fell below the lows of the previous 7 weeks and remains bearish.

Crude Oil, Gold, Silver, and Copper appear to have made short-term downside reversals.
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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
4.17% , HGSI , Human Genome Sciences Inc
1.01% , NOVL , NOVELL
0.69% , EWK , Belgium Index, EWK
0.36% , FEU , Value LargeCap Euro STOXX 50 DJ, FEU
2.56% , SIL , Silver Miners Global X, SIL
3.86% , SVU , SUPERVALU
3.48% , NBR , NABORS
2.92% , SLV , Silver Trust iS, SLV
2.14% , CVS , CVS
2.37% , DBC , Commodity Tracking, DBC
3.08% , PMTC.O , PARAMETRIC
2.38% , S , SPRINT NEXTEL
4.32% , PTEN , Patterson-UTI Energy Inc
2.13% , HP , Helmerich & Payne HP
1.10% , FMCN , Focus Media, FMCN
0.59% , ADRU , Europe 100 BLDRS, ADRU
1.64% , APC , ANADARKO PETRO
0.79% , IEV , Europe 350 S&P Index, IEV
2.56% , OXY , OCCIDENTAL
2.64% , USO , Oil, Crude, U.S. Oil Fund, USO
0.66% , ADRD , Developed 100 BLDRS, ADRD
1.26% , VPL , Pacific VIPERs, VPL
0.91% , EWQ , France Index, EWQ
2.70% , DBO , Oil Fund PowerShares, DBO
1.47% , CEG , CONSTELL ENERGY
0.95% , EIX , EDISON INTL
0.15% , DOG , Short 100% Dow 30, DOG
0.78% , ECH , Chile MSCI iS, ECH
0.78% , MYY , Short 100% MidCap 400, MYY
0.94% , EWI , Italy Index, EWI
1.06% , APA , APACHE
1.02% , MRK , MERCK & CO
0.60% , PPH , Pharmaceutical H, PPH

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-14.70% , THC , TENET HEALTHCARE
-4.60% , HMA , HEALTH MGMT STK A
-1.30% , PZI , Micro Cap Zachs, PZI
-0.20% , PFM , Dividend Achievers PS, PFM
-1.28% , IDU , Utilities DJ, IDU
-0.73% , JKL , Value SmallCap iS M, JKL
-5.65% , GNTX , Gentex Corporation
-2.93% , TEVA , Teva Pharmaceutical Industries Limited
-0.66% , PWY , Value SmallCap Dynamic PS, PWY
-2.11% , PEG , PUBL SVC ENTER
-3.18% , CIEN.O , CIENA
-0.42% , PWC , LargeCap Blend Dynamic PS, PWC
-3.42% , DBO , Oil Fund PowerShares, DBO
-1.58% , PXN , Nanotech Lux, PXN
-3.48% , TIN , TEMPLE INLAND
-0.70% , PPL , PPL
-2.15% , VDE , Energy VIPERs, VDE
-3.07% , F , FORD MOTOR
-0.37% , IXN , Technology Global, IXN
-0.23% , NY , Value LargeCap NYSE 100 iS, NY
-0.54% , PEJ , Leisure & Entertainment, PEJ
-1.34% , ED , CON ED
-1.59% , XEL , XCEL ENERGY
-1.07% , YHOO , YAHOO
-1.52% , PCG , PG&E
-3.11% , IP , INTL PAPER
-0.91% , EWT , Taiwan Index, EWT
-3.08% , RDC , ROWAN COMPANIES
-2.32% , NVLS , NOVELLUS SYS
-3.01% , ZEUS , Olympic Steel, ZEUS
-0.38% , IXG , Financials Global LargeCap Value, IXG
-0.74% , IGN , Networking, IGN
-0.54% , JKE , Growth LargeCap iS M, JKE

9 major U.S. stock sectors ranked in order of long-term relative strength:

Energy (XLE) Bullish, Over Weight. The Relative Strength Ratio (XLE/SPY) dove below 3-week lows on 4/11/11, suggesting a pullback, downside correction. Long term, the Ratio rose above 2-year highs on 3/30/11, again reconfirming its preexisting bullish major trend. Absolute price of XLE rose above 2-year closing price highs on 3/30/11, reconfirming its preexisting bullish major trend. Support 76.99, 72.85, 68.73, 67.49, 65.25, 65.03, 60.96, 60.21, 57.70, 55.68, 53.22, 50.33, 48.56, 46.16, and 43.66. Resistance 80.97, 83.27, and 91.42.

Industrial (XLI) Bullish, Over Weight. The Relative Strength Ratio (XLI/SPY) rose above 12-year highs on 4/4/11 and remains bullish. Absolute price rose above 2-year highs on 4/1/11 and remains bullish. Support 37.42, 35.08, 35.03, 31.82, 31.58, 30.79, 30.51, 30.32, 29.77, and 27.67. Resistance 38.22, 39.02, and 39.97.

Materials (XLB) Bullish, Over Weight. The Relative Strength Ratio (XLB/SPY) rose above 2-year highs on 4/5/11 and remains bullish. Absolute price rose above 2-year highs on 4/5/11 and remains bullish. Support 38.78, 38.06, 36.44, 34.20, 33.70, 32.36, 29.88, 29.43, and 27.67. Resistance 41.28, 43.04, 45.21, 45.21, and 46.54.

Consumer Discretionary (XLY) Neutral, Market Weight. The Relative Strength Ratio (XLY/SPY) appears to be in a 8-week trading range and remains neutral. Absolute price also remains neutral. Support 38.83, 36.61, 36.13, 35.32, 35.02, 34.78, 33.94, 33.11, 32.66, 31.70, 29.80, 28.64, 28.21, and 26.62. Resistance 39.80, 40.02, 40.13, and 40.70.

Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) rose above 3-month highs on 4/11/11 but remains neutral based on moving average relationships. Absolute price is bullish. Support 33.23, 32.57, 31.43, 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 33.55 33.74, 34.15, 34.71, 36.61, and 37.89.

Technology (XLK) Bearish, Under Weight. The Relative Strength Ratio (XLK/SPY) fell below 13-month lows on 4/5/11. The Ratio gave a clear bearish signal on 3/22/11 when the 50-day SMA of the RS Ratio crossed below the 200-day SMA. Absolute price of XLK fell below 14-week lows on 3/16/11 and remains neutral. Support 24.87, 23.87, 23.74, 23.64, 23.56, 22.68, 22.53, 21.60, 20.01, and 19.51. Resistance 26.24, 26.66, 27.09, 27.43, 27.63, and 28.60.

Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) rose above 2-month highs on 4/11/11 but remains neutral based on moving average relationships. Absolute price remains bullish. Support 29.64, 28.71, 28.22, 28.04, 27.76, 27.63, 27.46, 26.34, 25.30, and 24.95. Resistance: none.

Financial (XLF) Bearish, Under Weight. The Relative Strength Ratio (XLF/SPY) fell below 3-month lows on 3/31/11 and remains bearish. Absolute price broke down below 10-week lows on 3/16/11 and remains neutral. Support 16.33, 15.79, 15.39, 15.08, 14.36, 14.25, 14.20, 13.29, and 13.08. Resistance 16.75, 16.85, 17.20, and 17.87.

Utilities (XLU) Bearish, Under Weight. The Relative Strength Ratio (XLU/SPY) fell below the lows of the previous 7 weeks on 4/11/11 and remains bearish. Absolute price broke down below 3-month lows on 3/16/11 and remains neutral. Support 31.20, 30.74, 30.53, 29.66, 27.91, 27.44, and 25.76. Resistance 32.26, 32.89, 33.00, 34.89, and 36.24.
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Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) has been rising since making a low on 2/22/11. The trend is technically neutral, with 50-day SMA below the 200-day SMA.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) rose above its 50-day SMA on 4/8/11, thereby turning neutral from bearish.

NASDAQ Composite/S&P 500 Relative Strength Ratio is neutral between is 50-day SMA and 200-day SMA.

The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows on 4/5/11, again reconfirming its preexisting bearish major trend.

The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) rose further above all-time highs on 4/5/11, thereby reconfirming its preexisting bullish major trend.

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose further above all-time highs on 4/5/11, thereby reconfirming its preexisting bullish major trend.

Crude Oil nearest futures contract price rose above 2-year highs early on 4/11/11 but then suffered a Bearish Engulfing Line Candlestick and an Outside Day Reversal. This could signal a pullback, downside correction. Support 102.70, 97.02, 96.22, 95.14, 87.09, 83.85, 83.55, 80.28, 80.06, 79.84, 79.25, 78.86, 73.52, 72.63, 70.76, 70.35, 69.51, 68.59, 67.15, 65.05, and 64.24. Resistance 113.46, 120.42, 130.0, and 147.27.

Gold nearest futures contract price rose above its highs early on 4/11/11 but reversed to close lower, possibly signaling a pullback, downside correction. Longer term, Gold closed above previous all-time highs on 4/8/11, reconfirming its preexisting bullish major trend. Support 1452.5, 1411.5, 1380.7, 1419.5, 1351.4, 1309.1, 1307.7, 1297.0, 1274.8, 1270.5, 1232.4, 1210.9, 1191.5, and 1155.6. Resistance: 1478.0.

Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) rose further above 3-month highs on 4/8/11, confirming its short-term uptrend. My 50/200 Simple Moving Average System is neutral, with the Ratio’s 50-day SMA below its 200-day SMA.

Silver nearest futures contract price rose above previous 31-year highs early on 4/11/11 but reversed to close nearly unchanged, possibly signaling a pullback, downside correction. Silver closed above previous 31-year highs on 4/8/11, again reconfirming its preexisting bullish major trend. Support 39.12, 37.08, 36.43, 33.565, 31.695, 31.61, 30.265, 29.635, 26.30, 24.98, and 22.84. Resistance: 41.975 and 50.35.

Silver/Gold Ratio rose above 27-year highs on 4/8/11, again reconfirming its preexisting bullish major trend.

Copper nearest futures contract price rose above 5-week highs early on 4/11/11 but reversed to close lower, possibly signaling a pullback, downside correction.. Copper appears to be in an intermediate-term consolidation since peaking at 4.6575 on 2/15/11. Strength in Copper suggests confidence in the economic outlook, while weakness suggests doubts. Support 4.212, 4.076, 3.9795, 3.6065, 3.3930, 3.1775, 2.9285, 2.8555, 2.8445, and 2.72. Resistance: 4.533, 4.554, 4.6495, and 4.6575.

U.S. Treasury Bond nearest futures contract price tested and held Friday’s low of 117.28 on Monday, on 4/11/11, a mildly encouraging sign. But the bond broke down below the lows of the previous 6 weeks on 4/8/11, again confirming a downtrend for the short-term 3-week trend. The larger 9-week trend appears uncertain. Support 117.28, 117.04, 116.26, 115.15, 114.06, 113.04, and 112.15. Resistance 120.31, 122.08, 123.22, 123.26, 128.00 129.14, 129.27, 132.26, 133.00, 135.12, 135.19, 136.31, 137.31, and 142.31.

Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) has been stuck in a neutral trading range most of the time since peaking on 2/8/11.

U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) rose further above 2-year highs on 4/8/11. The Ratio has been in a rising trend since making a low on 8/24/10. This rising Relative Strength Ratio reflects fixed-income investors’ preference for inflation-protected TIPs over the unprotected 7-10 Year U.S. Treasury Note ETF (IEF) since 8/24/10.

The U.S. dollar nearest futures contract price broke down below the lows of the previous 15 months on 4/8/11, confirming a long-term, major downtrend. Support 74.27 and 70.80. Resistance 76.87, 77.675, 78.98, 79.34, 81.635, 81.935, 82.02, 83.64, 84.73, 85.36, 86.71, 88.80, 89.22, 89.71, and 92.53.

Advisory Service Sentiment: There were 57.3% Bulls versus 15.7% Bears as of 4/6/11, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear Ratio soared to 3.65, up from 2.23 the previous week. The Ratio now stands at its highest level in the 8 years since the 20-year high of 3.74 set on 6/18/03. Following that 2003 peak, the stock market turned sideways/choppy for 2 months and sentiment reverted toward the mean. The Ratio’s 20-year range is 0.41 to 3.74, the median is 1.56, and the mean is 1.63.

VIX Fear Index fell below its 7-week range on 4/11/11, hitting 16.22 intraday, and again confirming a return to bullish complacency. This follows a brief spike up to an intraday peak of 31.28 on 3/16/11. Fear was short-lived. 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 Dow Theory reconfirmed a Primary Tide Bull Market as of 4/4/11, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above closing price highs of the previous 2-years. The Dow Theory originally signaled the current Primary Tide Bull Market on 7/23/09, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above their closing price highs of the previous 6 months. While other Dow Theorists were fooled by the big downside Secondary Reaction in May and June 2010 and called a “Bear Market”, my interpretation of the Dow Theory has been steadily Bullish on the Primary Tide Trend every day since 7/23/09.

The SPX and other large cap indexes failed to close above closing price highs of the previous 2-years and, therefore, did not confirm the recent 2-year highs (set on 4/4/11) for the Dow-Jones Industrials and Transports, both of which are now trading below their February highs, casting doubt on the validity of the recent upside range breakout.

Volume remained at low levels as price rebounded from its low of 3/16/11, possibly reflecting trader hesitation to chase prices higher.

Financial stocks have failed to keep up with the averages, suggesting possible trouble in that key sector.

Many stock price patterns from the low of 3/16/11 resemble Bearish Rising Wedges, which are unsustainable countertrend rallies against the larger trends.

The latest survey of Advisory Service Sentiment from Investors Intelligence shows bullish opinion at the upper extreme of its 20-year range, which is bearish according to the Art of Contrary Opinion. When the majority is already very bullish, we can assume that the majority is already fully invested in the market and there are relatively few potential buyers, so prices are likely to go down.

The short-term trend (which changes very frequently, every few days to every few weeks) since 3/16/11 had been up, driven by short covering, general expectations of rising corporate profits, and merger activity. This is typical late-cycle behavior. After two years of bull trend that has doubled stock prices from their 2009 lows, it is only prudent to focus on protecting your capital.

S&P 500 Composite (SPX, 1,324.46) fell 3.71 points or 0.28% on Monday 4/11/11. SPX gapped higher on the open but soon peaked at 9:51 a.m. ET. Stock prices reversed again to close below the closes of the previous 8 trading days. Last week, the minor short-term trend became overbought and lost upside momentum, and now that trend appears to have turned down.

S&P 500 Cash Index 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
1406.32, high of 5/29/2008
1381.50, Fibonacci 78.6% of 2007-2009 range
1366.59, high of 6/17/2008
1344.07, high of 2/18/11
1339.46, high of 4/8/11

S&P 500 Cash Index Potential Support
1323.74, Fibonacci 78.6% of 2011 range
1321.06, low of 4/11/11
1305.26, low of 3/29/11
1249.05, low of 3/16/11
1246.73, high of 12/13/10
1238.81, Fibonacci 78.6% of 1,576.09 high
1235.05, high of 12/7/10
1232.85, low of 12/16/10
1228.74, Fibonacci 61.8% of 2007-2009 range
1227.08, high of 11/5/10
1173.00, low of 11/16/10
1171.70, low of 10/27/10
1166.74, low of 10/20/10
1159.71, low of 10/19/10
1,151.41, low of 10/7/10
1,131.87, low of 10/4/10
1122.79, low of 9/23/2010
1114.63, low of 9/15/2010
1110.88, low of 9/10/2010
1091.15, low of 9/7/2010
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
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
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
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

One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol

1.14% Telecom DJ US, IYZ
0.57% Health Care SPDR, XLV
0.53% Consumer Staples SPDR, XLP
0.38% Mexico Index, EWW
0.22% Australia Index, EWA
0.22% United Kingdom Index, EWU
0.13% Bond, 10 Year Treasury, IEF
0.13% REIT Wilshire, RWR
0.12% Bond Ex-US Treas, BWX
0.10% Bond, Aggregate, AGG
0.09% Bond, 20+ Years Treasury, TLT
0.08% Bond Muni ATM-Free S&P iS, MUB
0.07% REIT VIPERs, VNQ
0.06% Realty Cohen & Steers, ICF
0.05% Value LargeCap Dynamic PS, PWV
0.04% Netherlands Index, EWN
0.03% Biotech SPDR, XBI
0.03% Consumer Discretionary SPDR, XLY
0.01% Bond, Corp, LQD
0.00% Switzerland Index, EWL
0.00% Financial SPDR, XLF
0.00% Belgium Index, EWK
-0.01% DIAMONDS (DJIA), DIA
-0.01% Bond Treasury Short-Term iS, SHV
-0.01% Bond, 1-3 Year Treasury, SHY
-0.03% Financial DJ US, IYF
-0.07% Bond, TIPS, TIP
-0.08% Industrial SPDR, XLI
-0.08% Financial Preferred, PGF
-0.10% Bond, High-Yield Corporate, HYG
-0.10% Real Estate US DJ, IYR
-0.11% Dividend SPDR, SDY
-0.12% Financials VIPERs, VFH
-0.12% Bond, High-Yield Junk, JNK
-0.14% Europe 350 S&P Index, IEV
-0.14% Dividend Appreciation Vipers, VIG
-0.15% Financial Services DJ, IYG
-0.15% Technology SPDR, XLK
-0.17% Growth EAFE MSCI, EFG
-0.18% Transportation Av DJ, IYT
-0.20% EAFE Index, EFA
-0.20% Global 100, IOO
-0.20% LargeCap Blend S&P 100, OEF
-0.21% Small Cap EAFE MSCI iS, SCZ
-0.21% Italy Index, EWI
-0.24% European VIPERs, VGK
-0.24% Dividend International, PID
-0.25% Growth S&P 500/BARRA, IVW
-0.25% Preferred Stock iS, PFF
-0.26% Germany Index, EWG
-0.27% Homebuilders SPDR, XHB
-0.27% Pacific VIPERs, VPL
-0.28% China LargeCap Growth G D H USX PS, PGJ
-0.28% Technology DJ US, IYW
-0.28% Growth VIPERs, VUG
-0.28% Info Tech VIPERs, VGT
-0.29% Bond EmrgMkt JPM iS, EMB
-0.29% S&P 500 iS LargeCap Blend, IVV
-0.30% EMU Europe Index, EZU
-0.30% S&P 500 SPDRs LargeCap Blend, SPY
-0.31% LargeCap 1000 R, IWB
-0.31% LargeCap VIPERs, VV
-0.32% Pacific ex-Japan, EPP
-0.33% Value EAFE MSCI, EFV
-0.33% QQQ Nasdaq 100 Trust, QQQ
-0.34% Dividend High Yield Equity PS, PEY
-0.34% Dividend DJ Select, DVY
-0.35% Value S&P 500 B, IVE
-0.35% Value VIPERs, VTV
-0.36% Value 1000 Russell, IWD
-0.36% Blend Total Market VIPERs, VTI
-0.36% Growth 1000 Russell, IWF
-0.38% Austria Index, EWO
-0.40% LargeCap Blend S&P=Weight R, RSP
-0.41% Global ex US ACWI iS, ACWX
-0.41% LargeCap Blend Russell 3000, IWV
-0.43% Growth MidCap Russell, IWP
-0.44% Agriculture DB PS, DBA
-0.44% Growth BARRA Small Cap 600, IJT
-0.45% Capital Markets KWB ST, KCE
-0.51% MidCap Russell, IWR
-0.52% Growth MidCap 400 B, IJK
-0.54% Spain Index, EWP
-0.58% France Index, EWQ
-0.58% Value MidCap Russell, IWS
-0.59% Indonesia MV, IDX
-0.63% SmallCap S&P 600, IJR
-0.70% MidCap S&P 400 SPDRs, MDY
-0.70% Japan Index, EWJ
-0.71% Gold Shares S.T., GLD
-0.72% MidCap S&P 400 iS, IJH
-0.74% Networking, IGN
-0.80% Turkey MSCI iS, TUR
-0.83% Value SmallCap S&P 600 B, IJS
-0.84% Semiconductor iS IGW, SOXX
-0.86% Singapore Index, EWS
-0.86% South Korea Index, EWY
-0.89% Growth SmallCap R 2000, IWO
-0.89% SmallCap Russell 2000, IWM
-0.90% Growth SmallCap VIPERs, VBK
-0.90% Value MidCap S&P 400 B, IJJ
-0.91% Taiwan Index, EWT
-0.91% Value SmallCap VIPERS, VBR
-0.91% Small Cap VIPERs, VB
-0.95% Sweden Index, EWD
-0.95% Water Resources, PHO
-0.97% Emerging 50 BLDRS, ADRE
-0.98% China 25 iS, FXI
-1.02% Value SmallCap Russell 2000, IWN
-1.05% Frontier Markets Guggenheim , FRN
-1.06% WilderHill Clean Energy PS, PBW
-1.07% Malaysia Index, EWM
-1.11% Latin Am 40, ILF
-1.12% Materials SPDR, XLB
-1.13% Emerging VIPERs, VWO
-1.18% Emerging Markets, EEM
-1.23% Semiconductor SPDR, XSD
-1.28% Hong Kong Index, EWH
-1.29% Energy Global, IXC
-1.31% Utilities SPDR, XLU
-1.35% Thailand MSCI iS, THD
-1.35% Utilities VIPERs, VPU
-1.36% Microcap Russell, IWC
-1.43% Brazil Index, EWZ
-1.55% Canada Index, EWC
-1.55% Chile MSCI iS, ECH
-1.63% Silver Trust iS, SLV
-1.67% Basic Materials DJ US, IYM
-1.67% India Earnings WTree, EPI
-1.74% India PS, PIN
-1.75% South Africa Index, EZA
-1.75% Russia MV, RSX
-1.85% Commodity Tracking, DBC
-1.91% Energy DJ, IYE
-1.97% Energy SPDR, XLE
-2.15% Energy VIPERs, VDE
-2.22% Energy & Nat Res iS GS, IGE
-2.26% Metals & Mining SPDR, XME
-3.34% Oil, Crude, U.S. Oil Fund, USO
-3.42% Oil Fund PowerShares, DBO
-4.80% Silver Miners Global X, SIL