“Conditions at a stricken nuclear power plant in Japan have deteriorated so much that there is a growing consensus the crisis is greater than the Three Mile Island accident in 1979, and there are fears that it could get significantly worse.” — http://www.cnbc.com/id/42100614
S&P 500 Composite (SPX, 1281.87) closed 1.12% lower on Tuesday. The price decline was confirmed by a 30% increase in trading volume. Absolute price broke down below 10-week lows near the 9:30 a.m. ET open. SPX fell further below its 50-day simple moving average.
But these bleak numbers are only part of the story. The rest of the story is that stocks rebounded from much deeper opening losses to close in the upper 25% of the day’s high-low range. After a big gap down open in reaction to overnight news from Japan, the stock market actually spent the day rallying.
Significant upside reversals in the face of bad news suggest resilience and underlying support. When the stock market rebounds strongly following a downside reaction to bad news, it indicates a flush out of weak hands. Protective sell stops below the market have been cleaned out. Short-term day and swing traders are liquidated. All that remains are strong-hands investors focusing on the larger trends. Some investors, at least, still believe that the most important trend remains bullish.
The Dow-Jones Industrial Average fell below its February and March 2011 closing price lows but the Dow-Jones Transportation Average held well above its February and March closing price lows. This divergence or non-confirmation suggests that the market may not be ready for a deeper or more prolonged downside correction.
VIX Fear Index broke out above its 6-month trading range in the 16-24 zone and is now at 24.32, indicating an upsurge in fear among options players.
Mark Hulbert reports that the majority is not viewing price weakness as a buying opportunity. The average recommended equity exposure among the shortest-term market timers has fallen to 43%, down from 58.2% at the end of February. This is bullish, based on Hulbert’s version of the Art of Contrary Opinion. See:
http://www.marketwatch.com/story/fear-grows-a-contrarian-good-sign-2011-03-15?link=MW_story_morecolumn
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above all-time highs, thereby reconfirming its preexisting bullish major trend.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below 9-month lows, confirming 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
6.48% , KWT , Solar Energy MV, KWT
5.11% , FCX , FREEPRT MCMORAN STK B
3.32% , COF , CAPITAL ONE FNCL
2.75% , DHI , D.R. HORTON, DHI
2.44% , CMI , CUMMINS
2.32% , DXD , Short 200% Dow 30 PS, DXD
1.23% , DOG , Short 100% Dow 30, DOG
1.50% , TLT , Bond, 20+ Years Treasury, TLT
2.59% , F , FORD MOTOR
1.42% , GRMN , GARMIN LTD
1.35% , PSQ , Short 100% QQQ, PSQ
1.95% , JNY , JONES APPAREL
6.22% , SVU , SUPERVALU
1.63% , BBBY , BED BATH BEYOND
1.93% , XHB , Homebuilders SPDR, XHB
2.22% , SDS , Short 200% S&P 500 PS, SDS
1.33% , R , RYDER SYSTEM
2.77% , QID , Short 200% QQQ PS, QID
0.65% , TLH , Bond 10-20 Year US Treas, TLH
1.12% , MON , MONSANTO
7.80% , PWER , POWER ONE
1.81% , LEN , Lennar Corp. (LEN)
0.75% , ECH , Chile MSCI iS, ECH
0.81% , HSY , HERSHEY FOODS
0.68% , EQR , EQUITY RESIDENT BEN INT
1.22% , MZZ , Short 200% MidCap 400 PS, MZZ
0.76% , KBH , KB HOME
1.11% , BHI , BAKER HUGHES
1.30% , PHM , PULTE HOMES
0.36% , IEF , Bond, 10 Year Treasury, IEF
2.76% , DYN , DYNEGY
0.82% , DISH , EchoStar Communications
0.53% , WFC , WELLS FARGO
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-3.14% , PXN , Nanotech Lux, PXN
-2.62% , EWN , Netherlands Index, EWN
-2.75% , RSX , Russia MV, RSX
-1.14% , PWV , Value LargeCap Dynamic PS, PWV
-1.38% , RZV , Value SmallCap S&P 600, RZV
-2.53% , IEV , Europe 350 S&P Index, IEV
-5.66% , YHOO , YAHOO
-1.35% , PSJ , Software, PSJ
-0.55% , JKG , MidCap Blend Core iS M, JKG
-0.62% , TMW , Wilshire 5000 ST TM, TMW
-1.55% , PGJ , China LargeCap Growth G D H USX PS, PGJ
-2.59% , VGK , European VIPERs, VGK
-2.88% , EWK , Belgium Index, EWK
-0.84% , FDV , Value 40 Large Low P/E FT DB, FDV
-4.17% , XRAY , DENTSPLY International Inc
-3.11% , EWS , Singapore Index, EWS
-1.32% , IXJ , Healthcare Global, IXJ
-3.48% , EWD , Sweden Index, EWD
-2.40% , WAT , WATERS
-5.58% , AFL , AFLAC
-4.57% , DBA , Agriculture DB PS, DBA
-1.41% , PWC , LargeCap Blend Dynamic PS, PWC
-1.82% , EWY , South Korea Index, EWY
-3.39% , ERIC.O , LM Ericsson Telephone Company
-3.73% , LVLT , LEVEL 3 COMMUNICATIONS
-1.80% , IDU , Utilities DJ, IDU
-3.87% , PMCS , PMC SIERRA
-1.08% , IWV , LargeCap Blend Russell 3000, IWV
-3.65% , DBC , Commodity Tracking, DBC
-2.05% , ACWX , Global ex US ACWI iS, ACWX
-3.51% , SCHW.K , CHARLES SCHWAB, SCHW.O
-0.65% , RPG , Growth S&P 500, RPG
-4.00% , SLV , Silver Trust iS, SLV
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 3/7/11, reconfirming its preexisting bullish major trend. Support 72.90, 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 broke down below 9-week lows on 3/15/11 and is now neutral. Support 35.18, 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 broke down below 6-week lows on 3/15/11 and is now neutral. Support 37.49, 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 14-week lows on 3/15/11 and remains neutral. Support 36.44, 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 14-week lows 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 26.66, 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. Absolute price broke down below 10-week lows on 3/15/11 and remains neutral. Support 15.91, 15.39, 15.08, 14.36, 14.25, 14.20, 13.29, and 13.08. Resistance 16.85, 17.20, and 17.87.
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 broke down below 5-week lows on 3/15/11 and is now neutral. 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.
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 broke down below 3-week lows on 3/15/11 and is now neutral. Support 31.84, 31.79, 31.56, 31.43, 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 33.23, 33.37, and 33.74.
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 broke down below 9-week lows on 3/15/11 and is now neutral. 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 3/15/11, 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 3/15/11, 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 below 9-day lows on 3/15/11, again confirming a short-term, minor shakeout. The larger trend remains bullish: Oil rose above 2-year highs on 3/7/11, thereby reconfirming its preexisting bullish major trend. Support 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 fell below 3-week lows on 3/15/11, again confirming a short-term, minor shakeout. The larger trend remains bullish: Gold rose above all-time highs on 3/7/11, thereby reconfirming its preexisting bullish major trend. Support 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 fell below 2-week lows on 3/15/11, again confirming a short-term, minor shakeout. The larger trend remains bullish: Silver rose above previous 31-year highs on 3/7/11, again reconfirming its preexisting bullish major trend. Support 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 fell below 3-month lows on 3/15/11 before reversing to close slightly higher. This could mean an end of the 4-week correction, although upside price follow through would be necessary for confirmation. Strength in Copper suggests confidence in the economic outlook, while weakness suggests doubts. Support 4.076, 3.9795, 3.6065, 3.3930, 3.1775, 2.9285, 2.8555, 2.8445, and 2.72. Resistance: 4.245, 4.554, 4.6495, and 4.6575.
U.S. Treasury Bond nearest futures contract price broke out above 3-month highs on 3/15/11 on flight from risk–but surrendered most of that gain by the close. Still, the intermediate-term trend is technically bullish. Support, 118.05, 117.04, 116.26, 115.15, 114.06, 113.04, and 112.15. Resistance 122.14, 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 on 3/10/11 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 rose early on Tuesday on bad news out of Japan but surrendered that gain to close near its low of the day. USD is near its recent low of 76.405 set on 3/7/11 — a break of that level would confirm the preexisting 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 broke out above its 6 months trading range in the 16-24 zone and is now at 24.32, indicating an upsurge in fear 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 3/15/11, the Dow-Jones Industrial Average fell below its February and March 2011 closing price lows but the Dow-Jones Transportation Average held well above its February and March closing price lows. 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, 1281.87) closed 1.12% lower on Tuesday. The price decline was confirmed by a 30% increase in trading volume. Absolute price broke down below 10-week lows near the 9:30 a.m. ET open. SPX fell further below its 50-day simple moving average.
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
1261.12, low of 3/15/11
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
1.93% Homebuilders SPDR, XHB
1.70% WilderHill Clean Energy PS, PBW
1.50% Bond, 20+ Years Treasury, TLT
0.75% Chile MSCI iS, ECH
0.36% Bond, 10 Year Treasury, IEF
0.23% Bond Muni ATM-Free S&P iS, MUB
0.07% Metals & Mining SPDR, XME
0.04% Bond, Aggregate, AGG
0.00% Materials SPDR, XLB
-0.01% Bond, Corp, LQD
-0.01% Bond Treasury Short-Term iS, SHV
-0.03% Bond, TIPS, TIP
-0.05% Bond, 1-3 Year Treasury, SHY
-0.12% Bond EmrgMkt JPM iS, EMB
-0.17% Bond Ex-US Treas, BWX
-0.18% Preferred Stock iS, PFF
-0.20% Japan Index, EWJ
-0.26% Basic Materials DJ US, IYM
-0.34% Turkey MSCI iS, TUR
-0.38% Transportation Av DJ, IYT
-0.49% REIT Wilshire, RWR
-0.52% Bond, High-Yield Corporate, HYG
-0.52% REIT VIPERs, VNQ
-0.56% Growth MidCap 400 B, IJK
-0.57% Realty Cohen & Steers, ICF
-0.62% Thailand MSCI iS, THD
-0.63% MidCap S&P 400 iS, IJH
-0.66% MidCap S&P 400 SPDRs, MDY
-0.67% Indonesia MV, IDX
-0.67% Growth SmallCap VIPERs, VBK
-0.67% Bond, High-Yield Junk, JNK
-0.75% Growth BARRA Small Cap 600, IJT
-0.75% Energy SPDR, XLE
-0.76% Value MidCap S&P 400 B, IJJ
-0.77% Energy & Nat Res iS GS, IGE
-0.78% Small Cap VIPERs, VB
-0.78% Growth MidCap Russell, IWP
-0.79% Telecom DJ US, IYZ
-0.80% Real Estate US DJ, IYR
-0.80% Growth SmallCap R 2000, IWO
-0.81% Energy DJ, IYE
-0.81% India Earnings WTree, EPI
-0.82% Value SmallCap VIPERS, VBR
-0.83% Consumer Discretionary SPDR, XLY
-0.84% Energy VIPERs, VDE
-0.85% Value SmallCap Russell 2000, IWN
-0.85% Biotech SPDR, XBI
-0.88% Consumer Staples SPDR, XLP
-0.88% MidCap Russell, IWR
-0.88% Financial Preferred, PGF
-0.89% SmallCap S&P 600, IJR
-0.89% SmallCap Russell 2000, IWM
-0.90% Value MidCap Russell, IWS
-0.92% LargeCap Blend S&P=Weight R, RSP
-0.92% Malaysia Index, EWM
-0.94% Industrial SPDR, XLI
-0.96% Semiconductor SPDR, XSD
-0.98% Dividend SPDR, SDY
-1.04% Growth VIPERs, VUG
-1.04% Value 1000 Russell, IWD
-1.04% Brazil Index, EWZ
-1.04% Microcap Russell, IWC
-1.06% Blend Total Market VIPERs, VTI
-1.08% Financial Services DJ, IYG
-1.08% LargeCap Blend Russell 3000, IWV
-1.09% Growth S&P 500/BARRA, IVW
-1.09% Dividend Appreciation Vipers, VIG
-1.09% Water Resources, PHO
-1.09% LargeCap 1000 R, IWB
-1.10% Growth 1000 Russell, IWF
-1.10% Latin Am 40, ILF
-1.11% LargeCap VIPERs, VV
-1.11% S&P 500 iS LargeCap Blend, IVV
-1.11% Value VIPERs, VTV
-1.12% Value SmallCap S&P 600 B, IJS
-1.13% Financials VIPERs, VFH
-1.14% Energy Global, IXC
-1.14% Value LargeCap Dynamic PS, PWV
-1.15% S&P 500 SPDRs LargeCap Blend, SPY
-1.16% Financial DJ US, IYF
-1.16% Financial SPDR, XLF
-1.17% Health Care SPDR, XLV
-1.17% Value S&P 500 B, IVE
-1.18% DIAMONDS (DJIA), DIA
-1.19% Dividend DJ Select, DVY
-1.21% LargeCap Blend S&P 100, OEF
-1.21% Spain Index, EWP
-1.22% Networking, IGN
-1.27% Dividend High Yield Equity PS, PEY
-1.31% Semiconductor iS IGW, SOXX
-1.39% Mexico Index, EWW
-1.39% Info Tech VIPERs, VGT
-1.42% Growth LargeCap NASDAQ 100, QQQQ
-1.48% Capital Markets KWB ST, KCE
-1.48% Technology SPDR, XLK
-1.49% Technology DJ US, IYW
-1.52% Pacific VIPERs, VPL
-1.54% India PS, PIN
-1.55% China LargeCap Growth G D H USX PS, PGJ
-1.56% Emerging 50 BLDRS, ADRE
-1.58% Emerging VIPERs, VWO
-1.59% Dividend International, PID
-1.63% Canada Index, EWC
-1.65% Global 100, IOO
-1.66% Emerging Markets, EEM
-1.70% Italy Index, EWI
-1.74% Utilities VIPERs, VPU
-1.74% China 25 iS, FXI
-1.82% South Korea Index, EWY
-1.85% Growth EAFE MSCI, EFG
-1.87% Gold Shares S.T., GLD
-1.90% Utilities SPDR, XLU
-1.92% Austria Index, EWO
-1.93% United Kingdom Index, EWU
-2.05% Global ex US ACWI iS, ACWX
-2.09% EAFE Index, EFA
-2.20% Hong Kong Index, EWH
-2.30% EMU Europe Index, EZU
-2.32% Frontier Markets Guggenheim , FRN
-2.34% Taiwan Index, EWT
-2.41% Value EAFE MSCI, EFV
-2.47% Switzerland Index, EWL
-2.53% Europe 350 S&P Index, IEV
-2.59% European VIPERs, VGK
-2.62% Netherlands Index, EWN
-2.64% Small Cap EAFE MSCI iS, SCZ
-2.67% France Index, EWQ
-2.75% Russia MV, RSX
-2.79% Pacific ex-Japan, EPP
-2.87% Australia Index, EWA
-2.88% Belgium Index, EWK
-3.11% Singapore Index, EWS
-3.30% Germany Index, EWG
-3.48% Sweden Index, EWD
-3.65% Oil Fund PowerShares, DBO
-3.65% Commodity Tracking, DBC
-3.72% Oil, Crude, U.S. Oil Fund, USO
-4.00% Silver Trust iS, SLV
-4.32% South Africa Index, EZA
-4.44% Silver Miners Global X, SIL
-4.57% Agriculture DB PS, DBA
