S&P 500 Composite (SPX) broke below 4-day lows and closed below its 200-day SMA on 6/22/10, confirming a minor correction. The Dow-Jones Industrial Average also confirmed.
The Dow-Jones Transportation Average and the NASDAQ Composite did not confirm. They held above their 200-day SMAs.
Technology Stock Sector Relative Strength Ratio (XLK/SPY) rose above 5-month highs on 6/22/10. In contrast, absolute price fell slightly below its rising 200-day SMA on 6/22/10. Both are now neutral but could easily turn bullish if the rally resumes.
Utilities Stock Sector Relative Strength Ratio (XLU/SPY) fell slightly below its falling 200-day SMA on 6/22/10 but remains above its 50-day SMA. The 50-day is still below the 200-day SMA. The RS Ratio remains neutral. Absolute price of XLU crossed below both 50- and 200-day SMAs on 6/22/10, and the 50 remains below the 200 SMA, so the XLU price trend is bearish.
Energy Stock Sector Relative Strength Ratio (XLE/SPY) fell below its 50-day SMA on 6/22/10 and so turned bearish. Absolute price of XLE has consolidated losses since making its 5/25/10 low and remains bearishly below 50- and 200-day SMAs.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) rose above 50- and 200-day SMAs on 6/21/10 and so turned neutral. The 50-day SMA remains below the 200-day SMA. Absolute price fell below both 50- and 200-day SMAs on 6/22/10, and the 50- is below the 200-day SMA, so price is bearish.
Russell 1000 Value ETF Relative Strength Ratio (IWD/SPY) turned neutral on 6/22/10 by falling below its 50-day SMA. Absolute price of IWD fell below its 200-day SMA on 6/22/10 and remains neutral.
Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) remains neutral. Absolute price of IWF fell below its 200-day SMA on 6/22/10 and remains neutral.
Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) fell sharply on 6/22/10 and is now bearish, with the 50- below the 200-day SMA.
The U.S. dollar price rose enough to break a 2-week downtrend line on 6/22/10, confirming downside exhaustion for the very short term.
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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
5.17% , LNCR , Lincare Holdings Inc
2.92% , DXD , Short 200% Dow 30 PS, DXD
0.85% , LVLT , LEVEL 3 COMMUNICATIONS
3.28% , SDS , Short 200% S&P 500 PS, SDS
0.91% , TBH , Telebras HOLDRS, TBH
0.93% , ALL , ALLSTATE
2.51% , SVU , SUPERVALU
1.09% , SLE , SARA LEE
0.26% , ACE , ACE
0.83% , TLH , Bond 10-20 Year US Treas, TLH
1.36% , KR , KROGER
0.39% , CVG , CONVERGYS
0.86% , IAU , Gold COMEX iS, IAU
1.59% , QID , Short 200% QQQ PS, QID
0.42% , MOT , MOTOROLA
1.61% , SH , Short 100% S&P 500, SH
0.39% , BRCM , BROADCOM STK A
0.21% , AVP , AVON
0.74% , COF , CAPITAL ONE FNCL
0.32% , TAP , ADOLPH COORS STK B, TAP
0.56% , BWX , Bond Ex-US Treas, BWX
1.48% , DOG , Short 100% Dow 30, DOG
0.05% , SHY , Bond, 1-3 Year Treasury, SHY
0.08% , GENZ , GENZYME
0.05% , JNJ , JOHNSON&JOHNSON
0.03% , MRK , MERCK & CO
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-1.82% , BDH , Broadband H, BDH
-7.99% , BIG , BIG LOTS
-0.38% , TTH , Telecom H, TTH
-10.79% , BC , BRUNSWICK
-1.83% , IWC , Microcap Russell, IWC
-1.54% , IOO , Global 100, IOO
-6.54% , WAG , WALGREEN
-5.43% , SWK , STANLEY WORKS
-2.60% , RZV , Value SmallCap S&P 600, RZV
-1.89% , PKB , Building & Construction, PKB
-4.46% , CCL , CARNIVAL STK A
-3.41% , ETR , ENTERGY
-3.91% , ISIL , INTERSIL CORP
-5.53% , PPL , PPL
-3.95% , DOV , DOVER
-4.74% , HGSI , Human Genome Sciences Inc
-2.62% , VRSN , VeriSign Inc
-1.76% , IWV , LargeCap Blend Russell 3000, IWV
-3.29% , SPLS , STAPLES
-2.26% , VBR , Value SmallCap VIPERS, VBR
-4.32% , MTG , MGIC INVESTMENT
-2.49% , MDP , MEREDITH
-1.84% , PWO , OTC Dynamic PS, PWO
-4.02% , NE , NOBLE
-2.33% , FO , FORTUNE BRANDS
-2.36% , IYJ , Industrial LargeCap Blend DJ US, IYJ
-3.66% , OIH , Oil Services H, OIH
-7.45% , IP , INTL PAPER
-3.75% , DISH , EchoStar Communications
-3.17% , PHM , PULTE HOMES
-4.82% , HOG , HARLEY DAVIDSON
-4.29% , NBR , NABORS
-1.53% , EZA , South Africa Index, EZA
-2.44% , IWS , Value MidCap Russell, IWS
-3.94% , LTD , LIMITED BRANDS
-1.47% , ACWX , Global ex US ACWI iS, ACWX
-0.74% , DGT , Global Titans, DGT
-2.84% , CI , CIGNA
-1.17% , JKE , Growth LargeCap iS M, JKE
-1.65% , DVY , Dividend DJ Select, DVY
9 major U.S. stock sectors ranked in order of long-term relative strength:
Consumer Discretionary (XLY) Bullish, Overweight. The Relative Strength Ratio (XLY/SPY) fell below its 50-day SMA on 6/17/10, thereby turning neutral, even though it remains well above its 200-day SMA. Absolute price of XLY has remained above its 200-day SMA consistently since 2/23/09. Support 30.34. Resistance 34.39, 36.13, 38.25 and 39.09.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) and absolute price both are between 50- and 200-day SMAs, and both are neutral. Support 27.40. Resistance 33.12, 33.46, 34.24, 34.50, and 35.00. Support 27.40. Resistance 33.12, 33.46, 34.24, 34.50, and 35.00.
Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) rose above 5-month highs on 6/22/10. In contrast, absolute price fell slightly below its rising 200-day SMA on 6/22/10. Both are now neutral but could easily turn bullish if the rally resumes. Support 20.64. Resistance 23.27, 24.16, 24.68, and 25.69.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) has performed about in-line with the broader market for the past 7-months and remains neutral. Absolute price of XLP fell below its rising 200-day SMA on 6/18/10 and remains neutral. Support 25.78 and 24.95. Resistance 27.83, 27.95, 28.20, 28.75, 29.29 and 30.29.
Utilities (XLU) Neutral, Market Weight. The Relative Strength Ratio (XLU/SPY) fell slightly below its falling 200-day SMA on 6/22/10 but remains above its 50-day SMA. The 50-day is still below the 200-day SMA. The RS Ratio remains neutral. Absolute price of XLU crossed below both 50- and 200-day SMAs on 6/22/10, and the 50 remains below the 200 SMA, so the XLU price trend is bearish. Support 27.44, 25.76. Resistance 30.59, 30.91, 31.64 and 32.08.
Financial (XLF) Neutral, Market Weight. The Relative Strength Ratio (XLF/SPY) has underperformed since 10/14/09. Absolute price of XLF peaked on 4/15/10. Both remain neutral. Support 13.70 and 13.51. Resistance 15.67, 16.13, 16.90, 17.12, 17.16, and 17.87.
Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) remains neutral but has been weakening since 6/7/10. Absolute price of XLV reversed to the downside on 6/21/10 and remains technically bearish because price is below both SMAs and the 50 is below the 200 SMA. Support 27.96. Resistance 29.93, 30.83, 32.05, 32.18, 32.42, 32.69, 33.16, 33.37 and 33.74.
Materials (XLB) Bearish, Under Weight. The Relative Strength Ratio (XLB/SPY) fell below 14-month lows on 6/7/10 and remains bearish. Absolute price of XLB remains bearish with the 50-day SMA below the 200-day SMA of price since 6/18/10. Support 28.55. Resistance 31.80, 33.06, 35.47, and 37.56.
Energy (XLE) Bearish, Under Weight. The Relative Strength Ratio (XLE/SPY) fell below its 50-day SMA on 6/22/10 and so turned bearish. Absolute price of XLE has consolidated losses since making its 5/25/10 low and remains bearishly below 50- and 200-day SMAs. Support 50.15 Resistance 58.11, 59.84, 62.30, 62.73, 69.95, and 78.10.
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Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) rose above 50- and 200-day SMAs on 6/21/10 and so turned neutral. The 50-day SMA remains below the 200-day SMA. Absolute price fell below both 50- and 200-day SMAs on 6/22/10, and the 50- is below the 200-day SMA, so price is bearish.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) rose above its 50-day SMA on 6/21/10 and so turned neutral. Absolute price of EFA fell below 10-month lows on 5/25/10 and remains bearish.
NASDAQ 100/S&P 500 Relative Strength Ratio moved further above 50- and 200-day SMAs on 6/15/10 and remains bullish. The RS Ratio rose above 9-year highs on 6/4/10, giving a major bullish signal.
NASDAQ Composite/S&P 500 Relative Strength Ratio fell below its 50-day SMA on 6/21/10, turning neutral again. Absolute price of the NASDAQ is between its 50- and 200-day SMAs and remains neutral.
Russell 1000 Value ETF Relative Strength Ratio (IWD/SPY) turned neutral on 6/22/10 by falling below its 50-day SMA. Absolute price of IWD fell below its 200-day SMA on 6/22/10 and remains neutral.
Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) remains neutral. Absolute price of IWF fell below its 200-day SMA on 6/22/10 and remains neutral.
The S&P 500 Equally Weighted ETF Relative Strength Ratio (RSP/SPY) rose above 7-year highs on 6/15/10 and remains bullish. Absolute price of RSP closed above its 200 SMA on 6/10/10 and remains neutral.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell below the lows of the previous 30 years on 6/15/10 and remains bearish. Big caps have been out of favor for more than 10 years, since 3/29/2000.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) remains neutral. Absolute price of IWM closed above its 200 SMA on 6/10/10 and remains neutral.
The S&P MidCap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell slightly below its 50-day SMA on 6/18/10 and so turned neutral. Absolute price of MDY closed above its 200 SMA on 6/10/10 and remains neutral.
Crude Oil nearest futures contract price rose further above 4-week highs on 6/21/10 but reversed to close slightly lower, which might signal upside exhaustion for the very short term. Oil’s Ascending Triangle bottom still allows an objective above 80. Support 76.86, 74.74, 69.51, 67.15, 65.05, and 64.24. Resistance 81.29, 87.15, 90.51, 98.65, and 102.84.
Gold nearest futures contract price moved up to a new all-time high 1266.5 on 6/21/10 before reversing to the downside and ending with a sizable loss of 24.5. Such a reversal might signal upside exhaustion for the very short term. The main trend remains bullish, however. Support 1216.2, 1196.9, 1168.0, 1156.2, 1124.3, 1084.8, 1045.2, 1026.9 and 989.3. Resistance: none.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) remains neutral, with the 50-day SMA still below the 200 SMA.
Silver/Gold Ratio turned bearish on 5/17/10 when it crossed below both 50- and 200-day SMAs, with the 50-day SMA below the 200-day SMA.
Copper nearest futures price bounced early on 6/21/10 but gave up most of that gain by the close. Copper broke down to a new 7-month low of 2.72 on 6/7/10, indicating a significant downtrend. Weakness in Copper suggests doubts about prospects for the world economy. Support 2.72. Resistance 3.049, 3.187, 3.2675, 3.3225, 3.795 and 4.27.
U.S. Treasury Bond nearest futures contract price has lost upside momentum since setting a 14-month high at 126.05 on 5/25/10, which reflected a flight to safety, a flight that may have landed weeks ago. Support 122.15, 121.06, 119.26, 118.24, 118.12, 115.15, 114.06. 113.04, and 112.15. Resistance 126.05, 126.15, and 130.31.
Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) fell sharply on 6/22/10 and is now bearish, with the 50- below the 200-day SMA.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) fell below 6-month lows on 5/20/10 but still remains neutral for the intermediate-term trend. This implies that investors are choosing somewhat less inflation protection. Absolute price of TIP remains bullish.
The U.S. dollar nearest futures contract price rose enough to break a 2-week downtrend line on 6/22/10, confirming downside exhaustion for the very short term. Intermediate term, however, the USD chart “needs work” in order to confirm an end the downtrend. Support 85.325, 83.07, 81.74, 80.14, 79.73, 79.61, 78.83, 78.20, 76.74 and 75.90. Resistance 89.22, 89.71, and 92.53.
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. The Art of Contrary Thinking is best used together with more precise market timing tools.
Advisory Service Sentiment: There were 37.0% Bulls versus 32.6% Bears as of 6/16/10, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio fell to 1.14, down from 1.21 the previous week. The current Bull/Bear ratio has fallen substantially from its peak at 3.36 set on 1/13/10, which was the highest bullish sentiment in 6 years. The 20-year range is 0.41 to 3.74, the median is 1.51, and the mean is 1.57.
VIX Fear Index fell to 22.87 on 6/21/10. VIX peaked at 48.20 on 5/21/10. A falling VIX suggests decreasing bearish sentiment. 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 fell to 23.12 on 6/18/10. VXN peaked at 48.89 on 5/21/10. A falling VXN suggests decreasing bearish sentiment. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.
ISEE Call/Put Ratio fell to .059 on 5/7/10, a low level that indicates bearish sentiment. Its 2-year mean is 1.20, and its typical range is 0.69 to 1.71, which represents two standard deviations from the mean.
CBOE Put/Call Ratio rose to 0.96 on 5/20/10, its highest level of the year. A high level indicates bearish sentiment. The 2-year mean is 0.70, and the typical range is 0.44 to 0.96, which represents two standard deviations from the mean.
The Dow Theoryagain confirmed a Bullish Major Trend on 4/26/10, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above their closing price highs of the previous 18 months. The Dow Theory 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. That 7/23/09 bullish signal reversed the previous bearish 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 Composite (SPX) broke below 4-day lows and closed below its 200-day SMA on 6/22/10, confirming a correction. SPX The recent Double Bottom near 1040 still allows an upside projection above 1160. On 5/25/10 and again on 6/18/10, SPX reached down into deeply oversold territory and previous support, testing and holding the year 2010 extreme intraday low around 1040. I expected an oversold rally, but not without normal corrections and consolidations. Support 1096.68, 1086.01, 1075.33, 1040.78, 1029.38, 1019.95, 1012.42, and 1008.55. Resistance 1130.29, 1151.41, 1173.57, 1181.49, 1219.80, 1220.03, and 1228.74.
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
1335.63, high of 6/25/2008
1313.15, high of 8/11/2008
1274.42, high of 9/8/2008
1255.09, high of 9/12/2008
1238.81, Fibonacci 78.6% of 1,576.09 high
1228.74, Fibonacci 61.8% of 2007-2009 range
1220.03, high of 9/25/2008
1219.80, high of 4/26/2010
1181.49, Fibonacci 78.6% of 2010 range
1173.57, high of 5/13/2010
1151.41, Fibonacci 61.8% of 2010 range
1131.23, high of 6/21/2010
1130.29, Gann 50.0% of 2010 range
S&P 500 Cash Index Potential Support
1096.68, Fibonacci 38.2% of May-June bounce
1086.01, Gann 50.0% of May-June bounce
1075.33, Fibonacci 61.8% of May-June bounce
1040.78, low of 5/25/2010
1029.38, low of 11/2/2009
1019.95, low of 10/2/2009
1012.42, Gann 37.5% of 2009-2010 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
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
1.19% Bond, 20+ Years Treasury, TLT
0.88% Gold Shares S.T., GLD
0.60% Bond, 10 Year Treasury, IEF
0.56% Bond Ex-US Treas, BWX
0.49% Silver Trust iS, SLV
0.49% Bond, Corp, LQD
0.24% Bond, TIPS, TIP
0.10% Bond, Aggregate, AGG
0.05% Bond, 1-3 Year Treasury, SHY
-0.03% Bond Muni ATM-Free S&P iS, MUB
-0.08% Agriculture DB PS, DBA
-0.13% Preferred Stock iS, PFF
-0.22% Commodity Tracking, DBC
-0.24% Bond EmrgMkt JPM iS, EMB
-0.51% Hong Kong Index, EWH
-0.72% Switzerland Index, EWL
-0.72% Bond, High-Yield Corporate, HYG
-0.77% Growth LargeCap NASDAQ 100, QQQQ
-0.80% Financial Preferred, PGF
-0.84% Germany Index, EWG
-0.86% Technology SPDR, XLK
-0.92% Europe 350 S&P Index, IEV
-0.93% Chile MSCI iS, ECH
-0.93% Oil, Crude, U.S. Oil Fund, USO
-0.95% Small Cap EAFE MSCI iS, SCZ
-0.95% Austria Index, EWO
-0.97% Thailand MSCI iS, THD
-0.98% Health Care SPDR, XLV
-0.99% Technology DJ US, IYW
-1.02% United Kingdom Index, EWU
-1.09% Consumer Staples SPDR, XLP
-1.09% Info Tech VIPERs, VGT
-1.09% Taiwan Index, EWT
-1.10% Capital Markets KWB ST, KCE
-1.17% Netherlands Index, EWN
-1.17% Dividend International, PID
-1.18% European VIPERs, VGK
-1.18% Networking, IGN
-1.19% Turkey MSCI iS, TUR
-1.19% Belgium Index, EWK
-1.19% Growth EAFE MSCI, EFG
-1.23% Japan Index, EWJ
-1.23% Spain Index, EWP
-1.23% Sweden Index, EWD
-1.26% EAFE Index, EFA
-1.28% LargeCap Blend S&P 100, OEF
-1.31% Telecom DJ US, IYZ
-1.32% France Index, EWQ
-1.33% EMU Europe Index, EZU
-1.33% Value EAFE MSCI, EFV
-1.38% Pacific VIPERs, VPL
-1.39% Growth 1000 Russell, IWF
-1.41% India Earnings WTree, EPI
-1.43% Malaysia Index, EWM
-1.45% Growth S&P 500/BARRA, IVW
-1.45% Financial Services DJ, IYG
-1.45% Financials VIPERs, VFH
-1.46% DIAMONDS (DJIA), DIA
-1.47% Global ex US ACWI iS, ACWX
-1.49% Dividend High Yield Equity PS, PEY
-1.49% Dividend SPDR, SDY
-1.53% South Africa Index, EZA
-1.54% Value LargeCap Dynamic PS, PWV
-1.54% Global 100, IOO
-1.55% Financial DJ US, IYF
-1.56% China 25 iS, FXI
-1.56% Canada Index, EWC
-1.59% Financial SPDR, XLF
-1.59% Pacific ex-Japan, EPP
-1.59% Dividend Appreciation Vipers, VIG
-1.61% China LargeCap Growth G D H USX PS, PGJ
-1.61% S&P 500 iS LargeCap Blend, IVV
-1.63% LargeCap VIPERs, VV
-1.65% Dividend DJ Select, DVY
-1.65% Brazil Index, EWZ
-1.65% LargeCap 1000 R, IWB
-1.65% S&P 500 SPDRs LargeCap Blend, SPY
-1.67% Value S&P 500 B, IVE
-1.68% Growth VIPERs, VUG
-1.68% Emerging 50 BLDRS, ADRE
-1.72% Blend Total Market VIPERs, VTI
-1.74% Value VIPERs, VTV
-1.75% Latin Am 40, ILF
-1.75% Indonesia MV, IDX
-1.76% LargeCap Blend Russell 3000, IWV
-1.83% Microcap Russell, IWC
-1.84% Biotech SPDR, XBI
-1.85% Mexico Index, EWW
-1.86% Growth BARRA Small Cap 600, IJT
-1.86% Australia Index, EWA
-1.87% LargeCap Blend S&P=Weight R, RSP
-1.87% Singapore Index, EWS
-1.89% Emerging VIPERs, VWO
-1.92% Emerging Markets, EEM
-1.93% SmallCap S&P 600, IJR
-1.94% Growth SmallCap R 2000, IWO
-1.94% Value 1000 Russell, IWD
-1.96% Semiconductor SPDR, XSD
-1.96% Semiconductor iS GS, IGW
-1.97% India PS, PIN
-2.00% Growth MidCap Russell, IWP
-2.00% WilderHill Clean Energy PS, PBW
-2.04% Small Cap VIPERs, VB
-2.05% South Korea Index, EWY
-2.05% SmallCap Russell 2000, IWM
-2.06% MidCap S&P 400 iS, IJH
-2.08% MidCap S&P 400 SPDRs, MDY
-2.10% Growth SmallCap VIPERs, VBK
-2.12% Growth MidCap 400 B, IJK
-2.14% MidCap Russell, IWR
-2.16% Value SmallCap Russell 2000, IWN
-2.22% Value SmallCap S&P 600 B, IJS
-2.24% Consumer Discretionary SPDR, XLY
-2.26% Value SmallCap VIPERS, VBR
-2.27% Value MidCap S&P 400 B, IJJ
-2.27% Italy Index, EWI
-2.32% Water Resources, PHO
-2.33% Utilities VIPERs, VPU
-2.41% Basic Materials DJ US, IYM
-2.42% Russia MV, RSX
-2.42% Industrial SPDR, XLI
-2.43% Homebuilders SPDR, XHB
-2.44% Value MidCap Russell, IWS
-2.47% Materials SPDR, XLB
-2.48% Utilities SPDR, XLU
-2.60% Value SmallCap S&P 600, RZV
-2.68% Energy Global, IXC
-2.75% Natural Resource iS GS, IGE
-2.82% Real Estate US DJ, IYR
-2.84% Energy DJ, IYE
-2.86% Energy VIPERs, VDE
-2.92% Energy SPDR, XLE
-2.97% REIT VIPERs, VNQ
-3.22% Realty Cohen & Steers, ICF
-3.33% REIT Wilshire, RWR
-3.34% Metals & Mining SPDR, XME
-3.75% Transportation Av DJ, IYT
