S&P 500 Composite (SPX, 1296.39) closed 0.60% lower on Monday, but that is only part of the story. The rest of the story is that stocks rebounded from deeper morning losses to close near their best levels of the day. Significant upside reversals in the face of bad news suggest resilience and underlying support. When the stock market rebounds strongly in the face of terrible news, it indicates a flush out of weak hands.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below 9-month lows, confirming its preexisting bearish trend.
Crude Oil fell below 8-day lows but reversed to close higher. The short-term, minor shakeout could have ended.
Gold rose above 2-day highs. The short-term, minor shakeout could be over, although it seems too early to be sure.
The U.S. dollar fell again, nearly to its recent low of 76.405 set on 3/7/11. A break of that level would confirm its preexisting bearish trend.
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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
1.75% , PFE , PFIZER
2.16% , ASH , ASHLAND
0.71% , PBW , WilderHill Clean Energy PS, PBW
1.21% , SRCL , Stericycle, SRCL
0.93% , CTAS , CINTAS
1.61% , TUR , Turkey MSCI iS, TUR
1.83% , PCL , PLUM CREEK TIMB
0.92% , THD , Thailand MSCI iS, THD
3.25% , VLO , VALERO ENERGY
1.10% , DLTR , Dollar Tree Stores Inc
0.75% , VWO , Emerging VIPERs, VWO
0.26% , GVI , Bond Interm U.S. Gov, GVI
1.52% , HRB , H&R BLOCK
0.46% , IDX , Indonesia MV, IDX
0.73% , PH , PARKER HANNIFIN
12.79% , PWER , POWER ONE
0.41% , EWW , Mexico Index, EWW
0.51% , IAU , Gold COMEX iS, IAU
0.25% , FDO , FAMILY DLR STRS
0.33% , NOC , NORTHROP GRUMMAN
1.17% , MU.O , MICRON TECH
1.15% , EWP , Spain Index, EWP
0.61% , DPS , Dr Pepper Snapple Group
0.30% , WM , WASTE MANAGEMENT
0.99% , BWX , Bond Ex-US Treas, BWX
0.32% , ERTS , ELECTRONIC ARTS
1.20% , SDS , Short 200% S&P 500 PS, SDS
0.23% , DD , DU PONT
0.05% , SHY , Bond, 1-3 Year Treasury, SHY
0.10% , HMA , HEALTH MGMT STK A
0.68% , BC , BRUNSWICK
0.87% , CVX , CHEVRONTEXACO
0.26% , AVY , AVERY DENNISON
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-1.60% , UTH , Utilities H, UTH
-4.89% , ETR , ENTERGY
-7.03% , EWJ , Japan Index, EWJ
-5.30% , COH , COACH
-4.80% , VPL , Pacific VIPERs, VPL
-5.27% , TIF , TIFFANY
-0.75% , IXG , Financials Global LargeCap Value, IXG
-2.20% , SCZ , Small Cap EAFE MSCI iS, SCZ
-1.08% , IYC , Consumer Cyclical DJ, IYC
-6.87% , ITF , Japan LargeCap Blend TOPIX 150, ITF
-2.93% , PCG , PG&E
-2.17% , CNP , CENTERPNT ENERGY
-1.28% , PEJ , Leisure & Entertainment, PEJ
-0.80% , SWH , Software H, SWH
-1.32% , XLU , Utilities SPDR, XLU
-2.75% , AES , AES
-2.45% , ADRA , Asia 50 BLDRS, ADRA
-0.51% , IYH , Healthcare DJ, IYH
-1.18% , IXP , Telecommunications Global, IXP
-1.15% , EWG , Germany Index, EWG
-1.02% , VCR , Consumer D. VIPERs, VCR
-2.15% , CMA , COMERICA
-2.60% , EIX , EDISON INTL
-0.53% , FEZ , Euro STOXX 50, FEZ
-0.66% , IWZ , Growth LargeCap Russell 3000, IWZ
-0.98% , VOX , Telecom Services VIPERs, VOX
-0.63% , EXC , EXELON CORP
-1.90% , PUI , Utilities, PUI
-2.92% , PRU , PRUDENTIAL FINL
-1.90% , VIA , VIACOM INC. (New)
-1.59% , AEE , AMEREN
-2.97% , AFL , AFLAC
-2.29% , FDX , FEDEX
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) rose further above 15-month highs on 2/23/11, reconfirming its preexisting bullish major trend. Absolute price of XLE rose above 2-year closing price highs on 3/1/11, reconfirming its preexisting bullish major trend. Support 73.03, 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 79.22, 83.27 and 91.42.
Industrial (XLI) Bullish, Over Weight. The Relative Strength Ratio (XLI/SPY) rose above the highs of the previous 3 weeks on 3/11/11 and is now bullish again. Absolute price closed above 2-year closing price highs on 2/18/11 and remains bullish for the longer-term trend. Support 35.91, 35.87, 35.38, 35.03, 31.82, 31.58, 30.79, 30.51, 30.32, 29.77, and 27.67. Resistance 38.09, 39.02, and 39.97.
Consumer Discretionary (XLY) Bullish, Over Weight. The Relative Strength Ratio (XLY/SPY) rose above the highs of the previous 10 weeks on 3/10/11 and is now bullish. Absolute price rose above 3-year highs on 2/18/11, which was a bullish confirmation for the longer-term trend. Support 38.10, 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 39.58, 40.02, 40.13, and 40.70.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) fell below 5-month lows on 3/10/11 and remains neutral. In addition, absolute price broke down below 11-week lows on 3/4/11 and remains neutral. Support 37.06, 36.99, 36.54, 34.20, 33.70, 32.36, 29.88, 29.43, and 27.67. Resistance 40.83 and 41.06.
Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) fell below 6-month lows on 3/11/11. The 50-day SMA of the RS Ratio appears to be heading toward a cross below the 200-day SMA in weeks ahead, which could be a bearish signal. Absolute price of XLK fell below 6-week lows and remains neutral. Support 25.53, 25.53, 23.87, 23.74, 23.64, 23.56, 22.68, 22.53, 21.60, 20.01, and 19.51. Resistance 26.66, 27.09, 27.43, 27.63, and 28.60.
Financial (XLF) Bearish, Under Weight. The Relative Strength Ratio (XLF/SPY) broke down below 11-week lows on 3/4/11 and remains bearish, according to my objective system based on 50-day and 200-day moving averages. (Subjectively, I would rather rate XLF neutral, based on XLF holding support at 16.33.) Absolute price of XLF appears to be stuck in a trading range in recent weeks. Support 16.25, 16.19, 16.03, 15.39, 15.08, 14.36, 14.25, 14.20, 13.29, and 13.08. Resistance 16.85, 17.20, and 17.87.
Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) rose above the highs of the previous 7 weeks on 3/10/11 and is now neutral. Absolute price rose above 2-year highs on 3/3/11 and remains bullish. Support 31.79, 31.56, 31.43, 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 33.23, 33.37, and 33.74.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) rose above the highs of the previous 6 weeks on 3/10/11 and is now neutral. Absolute price rose above 2-year highs on 3/9/11 and remains bullish. Support 29.27, 28.80, 28.22, 28.04, 27.76, 27.63, 27.46, 26.34, 25.30, and 24.95. Resistance 29.96 and 30.29.
Utilities (XLU) Neutral, Market Weight. The Relative Strength Ratio (XLU/SPY) ) rose above the highs of the previous 7 weeks on 3/10/11 and is now neutral. Absolute price rose above 2-year highs on 3/9/11 and remains bullish. Support 31.77, 31.49, 31.23, 30.51, 29.66, 27.91, 27.44, and 25.76. Resistance 32.89, 33.00, 34.89, and 36.24.
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Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell further below 8-month lows on 2/22/11, again reconfirming its bearish trend. The ratio turned bearish from neutral on 2/4/11, based on the relationships of the ratio itself, its 50-day SMA, and its 200-day SMA.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below 9-month lows on 3/14/11, confirming its preexisting bearish trend.
NASDAQ Composite/S&P 500 Relative Strength Ratio fell below its 50-day SMA on 1/20/11, turning neutral for the short term. Long term, the ratio rose above 10-year highs on 1/18/11, confirming a bullish Primary Tide uptrend.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) turned bearish from neutral on 2/10/11, based on the relationships of the ratio itself, its 50-day SMA, and its 200-day SMA. Long term, the ratio fell below 28-year lows on 12/3/10, confirming a major bearish trend. Big caps had been relatively out of favor for more than 10 years, from 3/29/2000 to 12/3/10.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) fell below its 50-day SMA on 3/10/11, turning neutral. Long term, the ratio rose above 20-year highs on 12/21/10, which confirmed a bullish trend.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above all-time highs on 3/4/11, thereby reconfirming its preexisting bullish major trend. The ratio turned bullish from neutral on 2/7/11, based on the relationships of the ratio itself, its 50-day SMA, and its 200-day SMA.
Crude Oil nearest futures contract price fell down below 8-day lows on 3/14/11 but reversed to close higher. The short-term, minor shakeout could have ended. Oil rose above 2-year highs on 3/7/11, thereby reconfirming its preexisting bullish major trend. Support 98.47, 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 106.95, 110.30, 111.34, 120.42, 130.0, and 147.27.
Gold nearest futures contract price rose above 2-day highs on Monday. The short-term, minor shakeout could be over, although it seems too early to be sure. Gold rose above all-time highs on 3/7/11, thereby reconfirming its preexisting bullish major trend. Support 1403.0, 1392.2, 1351.4, 1309.1, 1307.7, 1297.0, 1274.8, 1270.5, 1232.4, 1210.9, 1191.5, and 1155.6. Resistance: 1445.7.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) crossed below its 200-day and 50-day simple moving averages on 3/7/11 and 3/8/11, thereby turning bearish.
Silver nearest futures contract price consolidated in a narrow range on Monday. Last week’s minor shakeout could be over, although it seems too early to be sure. Silver rose above previous 31-year highs on 3/7/11, again reconfirming its preexisting bullish major trend. Support 34.03, 31.695, 31.61, 30.265, 29.635, 26.30, 24.98, and 22.84. Resistance: 36.745 and 50.
Silver/Gold Ratio rose above 27-year highs on 3/11/11, again reconfirming its preexisting bullish major trend.
Copper nearest futures contract price consolidated in a narrow range on Monday. The 4-week downside correction could be over, although it seems too early to be sure. Strength in Copper suggests confidence in the economic outlook, while weakness suggests doubts. Support 4.086, 4.0835, 3.9795, 3.6065, 3.3930, 3.1775, 2.9285, 2.8555, 2.8445, and 2.72. Resistance:4.554, 4.6495, and 4.6575.
U.S. Treasury Bond nearest futures contract price has been in a trading range most of the time since 12/15/10, and it is not clear whether or not it is ready to trend. The Bond is still rated neutral. Support, 118.05, 117.04, 116.26, 115.15, 114.06, 113.04, and 112.15. Resistance 121.04, 122.08, 122.20, 123.21, 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) turned neutral last week by falling below 6-week lows and below its 50-day SMA. JNK absolute price also turned neutral by falling below 7-week lows and below its 50-day SMA.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) has been in a rising trend since making a low on 8/24/10, even as absolute price of TIP has declined. A rising Relative Strength Ratio implies that fixed-income investors have been selling inflation protected TIPs at a relatively more subdued pace since 8/24/10, compared to the more severe price drop of the 7-10 Year U.S. Treasury Note ETF (IEF).
The U.S. dollar nearest futures contract price fell again, nearly to its recent low of 76.405 set on 3/7/11. A break of that level would confirm the bearish trend. USD fell below the lows of the previous 4 months on 3/7/11, again reconfirming its preexisting intermediate-term downtrend. Long term, USD fell below 11-month lows on 11/3/10, confirming a major downtrend. Support 76.405, 76.145, 75.235, 74.27, and 70.80. Resistance 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 52.2% Bulls versus 21.1% Bears as of 3/9/11, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio stands at an above-average 2.47, down from 2.59 the previous week and down from 3.00 on 1/12/11. The 20-year range is 0.41 to 3.74, the median is 1.55, and the mean is 1.63.
VIX Fear Index has spent most of the past 5 months in the 16-22 zone, which is moderately below average. This suggests a mildly complacent attitude among options players. 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 2/17/11, 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.
On 3/10/11, the Dow-Jones Industrial Average fell below its February closing price low but the Dow-Jones Transportation Average held well above its February closing price low. This divergence or non-confirmation suggests that the market may not be ready for a deeper or more prolonged downside correction.
S&P 500 Composite (SPX, 1296.39) closed 0.60% lower on Monday. The magnitude and duration of the correction since the SPX peak price on 2/18/11 has been moderate and in keeping with other brief minor shakeouts in this bull market; it appears similar to the correction last November 2010.
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
1332.28, high of 3/3/11
S&P 500 Cash Index Potential Support
1286.37, low of 3/14/11
1275.10, low of 1/28/11
1271.26, low of 1/20/11
1261.70, low of 1/7/11
1251.48, low of 12/27/10
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
1.61% Turkey MSCI iS, TUR
1.16% Brazil Index, EWZ
1.15% Spain Index, EWP
1.15% South Korea Index, EWY
1.07% India PS, PIN
0.99% Bond Ex-US Treas, BWX
0.95% India Earnings WTree, EPI
0.92% Thailand MSCI iS, THD
0.90% South Africa Index, EZA
0.80% Latin Am 40, ILF
0.75% Emerging VIPERs, VWO
0.71% WilderHill Clean Energy PS, PBW
0.60% Russia MV, RSX
0.60% Basic Materials DJ US, IYM
0.59% Emerging Markets, EEM
0.55% Energy SPDR, XLE
0.54% Oil, Crude, U.S. Oil Fund, USO
0.49% Energy VIPERs, VDE
0.46% Gold Shares S.T., GLD
0.46% Indonesia MV, IDX
0.44% Energy DJ, IYE
0.41% Mexico Index, EWW
0.41% Emerging 50 BLDRS, ADRE
0.39% Oil Fund PowerShares, DBO
0.38% Metals & Mining SPDR, XME
0.29% Belgium Index, EWK
0.27% Commodity Tracking, DBC
0.22% Bond, 10 Year Treasury, IEF
0.20% Energy & Nat Res iS GS, IGE
0.17% Energy Global, IXC
0.15% Bond, TIPS, TIP
0.11% Financial Preferred, PGF
0.11% China LargeCap Growth G D H USX PS, PGJ
0.11% Bond, Corp, LQD
0.09% China 25 iS, FXI
0.06% Bond, Aggregate, AGG
0.05% Italy Index, EWI
0.05% Bond, 1-3 Year Treasury, SHY
0.01% Bond Treasury Short-Term iS, SHV
-0.04% Bond, 20+ Years Treasury, TLT
-0.05% Silver Trust iS, SLV
-0.10% Bond Muni ATM-Free S&P iS, MUB
-0.13% Dividend International, PID
-0.15% Preferred Stock iS, PFF
-0.16% Water Resources, PHO
-0.17% United Kingdom Index, EWU
-0.18% Netherlands Index, EWN
-0.22% Semiconductor iS IGW, SOXX
-0.25% Bond EmrgMkt JPM iS, EMB
-0.27% Semiconductor SPDR, XSD
-0.27% Frontier Markets Guggenheim , FRN
-0.32% Hong Kong Index, EWH
-0.35% Bond, High-Yield Junk, JNK
-0.35% Growth LargeCap NASDAQ 100, QQQQ
-0.37% Value SmallCap S&P 600 B, IJS
-0.37% Materials SPDR, XLB
-0.38% Growth MidCap 400 B, IJK
-0.40% Biotech SPDR, XBI
-0.40% EMU Europe Index, EZU
-0.41% Bond, High-Yield Corporate, HYG
-0.43% Canada Index, EWC
-0.44% MidCap S&P 400 SPDRs, MDY
-0.45% Technology DJ US, IYW
-0.46% France Index, EWQ
-0.46% Europe 350 S&P Index, IEV
-0.47% Technology SPDR, XLK
-0.47% Growth SmallCap R 2000, IWO
-0.47% DIAMONDS (DJIA), DIA
-0.48% Growth BARRA Small Cap 600, IJT
-0.48% MidCap S&P 400 iS, IJH
-0.49% Health Care SPDR, XLV
-0.50% SmallCap S&P 600, IJR
-0.50% Info Tech VIPERs, VGT
-0.50% Growth 1000 Russell, IWF
-0.51% Value MidCap Russell, IWS
-0.52% Switzerland Index, EWL
-0.53% MidCap Russell, IWR
-0.53% Singapore Index, EWS
-0.54% SmallCap Russell 2000, IWM
-0.54% Small Cap VIPERs, VB
-0.54% LargeCap Blend S&P 100, OEF
-0.55% Taiwan Index, EWT
-0.55% European VIPERs, VGK
-0.55% Dividend Appreciation Vipers, VIG
-0.55% LargeCap 1000 R, IWB
-0.55% Growth SmallCap VIPERs, VBK
-0.55% Value SmallCap VIPERS, VBR
-0.55% Growth VIPERs, VUG
-0.56% Value S&P 500 B, IVE
-0.56% Value MidCap S&P 400 B, IJJ
-0.57% Value LargeCap Dynamic PS, PWV
-0.57% LargeCap VIPERs, VV
-0.59% LargeCap Blend Russell 3000, IWV
-0.59% Networking, IGN
-0.59% Growth S&P 500/BARRA, IVW
-0.60% S&P 500 SPDRs LargeCap Blend, SPY
-0.61% Value VIPERs, VTV
-0.61% Blend Total Market VIPERs, VTI
-0.62% Chile MSCI iS, ECH
-0.63% LargeCap Blend S&P=Weight R, RSP
-0.64% Dividend SPDR, SDY
-0.66% Growth MidCap Russell, IWP
-0.67% S&P 500 iS LargeCap Blend, IVV
-0.68% Value 1000 Russell, IWD
-0.68% Real Estate US DJ, IYR
-0.69% Value SmallCap Russell 2000, IWN
-0.70% Dividend DJ Select, DVY
-0.71% Consumer Staples SPDR, XLP
-0.72% Microcap Russell, IWC
-0.77% Malaysia Index, EWM
-0.80% Financials VIPERs, VFH
-0.80% Dividend High Yield Equity PS, PEY
-0.82% Financial Services DJ, IYG
-0.84% Financial DJ US, IYF
-0.85% Industrial SPDR, XLI
-0.86% Sweden Index, EWD
-0.87% Global 100, IOO
-0.91% Financial SPDR, XLF
-0.91% Agriculture DB PS, DBA
-0.91% Telecom DJ US, IYZ
-0.92% Capital Markets KWB ST, KCE
-0.97% REIT Wilshire, RWR
-0.99% Austria Index, EWO
-1.00% REIT VIPERs, VNQ
-1.02% Pacific ex-Japan, EPP
-1.04% Australia Index, EWA
-1.08% Realty Cohen & Steers, ICF
-1.13% Utilities VIPERs, VPU
-1.15% Germany Index, EWG
-1.21% Global ex US ACWI iS, ACWX
-1.23% Consumer Discretionary SPDR, XLY
-1.32% Utilities SPDR, XLU
-1.51% Homebuilders SPDR, XHB
-1.64% Silver Miners Global X, SIL
-1.73% Transportation Av DJ, IYT
-1.74% Growth EAFE MSCI, EFG
-1.79% EAFE Index, EFA
-2.06% Value EAFE MSCI, EFV
-2.20% Small Cap EAFE MSCI iS, SCZ
-4.80% Pacific VIPERs, VPL
-7.03% Japan Index, EWJ
