By Robert W. Colby, Senior Analyst

Bull Trap?
Negative momentum divergence.

The stock market tried to rally but was unable to regain much upside momentum.

Technology Stock Sector Relative Strength Ratio rose to another new 3-month high, signaling an improving intermediate-term trend.

Financial Stocks bounced the most on Thursday but are still the weakest longer term.

The Gold Miners ETF (GDX) Relative Strength versus Gold bullion fell to new lows.

Crude Oil prices broke sharply below 3-day lows, suggesting a possible short-term, minor consolidation phase.

On Thursday, major stock price indexes opened firmly, quickly reversed to break below Wednesday’s low, then reversed again to break out above the intraday highs of the past 3 months. That upside breakout might have been a Bull Trap, however, since stock prices gave back most of their daily gains in the critical final hour of trading.

The S&P 500 very briefly moved above resistance at 1,396.02, which was the intraday high of 2/1/2008 and the top of a 3-month trading range, but quickly fell back. Price failed to close above the 1,395.42 closing price high of 2/1/2008.

Short-term stock price momentum moved only slightly higher, and now price momentum appears to be lagging price, for a negative momentum divergence.

The Volume of Advancing Stocks was 99% greater than the Volume of Declining Stocks, suggesting a moderate bias toward buying pressure selling over pressure. Total NYSE volume rose 9%.

The “reports” of the day were mostly upbeat. Financials enjoyed an oversold bounce on a rumor that Merrill Lynch may not cut its dividend. The U.S. dollar also bounced, while commodities, crude oil, and gold fell sharply, and that provided fast temporary relief from the chronic pain of inflation worries. But Energy stocks (the strongest sector of the past year) fell fairly steeply, following crude oil. And Starbucks fell on word of a disappointing outlook.

The recent 3-month correction/consolidation phase may be a Secondary Reaction Continuation Pattern within the context of a Primary Bearish Trend. Preexisting Primary Trends tend to resume after such Secondary Reactions run their course. The main technical trend for the broad-based stock price indexes may still be down. From time to time, serious fundamental worries seem to be temporarily displaced by hopes that the worst of the credit crisis might be over, or hopes for some kind of a rescue, from the Fed, the government, or big investors. The Wall Street pendulum swings from hope to fear–just as it always has.

Earnings reports are yet another wild card in an already uncertain market. Day to day, the stock market has been quite reactive to the news, rumors, and “reports” of the day, which certainly have been plentiful, although not always accurate. These “reports” strike at any unpredictable moment, like bolts out of the blue, disrupting trends and making short-term trading risky. In such a shifty market, short-term traders need to be nimble, be quick, and control risk. Investors need to be cautious and risk averse.

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
% Price Change, Symbol , Name

20.56% , LSI , LSI LOGIC
6.84% , BLL , BALL
11.70% , F , FORD MOTOR
7.01% , BC , BRUNSWICK
2.94% , BHH , Internet B2B H, BHH
1.67% , DSV , Value Small Cap DJ, DSV
2.31% , RFV , Value MidCap S&P 400, RFV
9.82% , ZION , ZIONS
1.18% , ELV , Value Large Cap DJ, ELV
1.23% , IYW , Technology DJ US, IYW
0.87% , DSG , Growth Small Cap DJ, DSG
0.56% , IJH , MidCap S&P 400 iS, IJH
7.90% , BIG , BIG LOTS
1.35% , PTE , Telecommunications & Wireless, PTE
1.09% , PZJ , SmallCap PS Zacks, PZJ
4.07% , SNA , SNAP ON
6.58% , FNM , FANNIE MAE
2.11% , IYT , Transportation Av DJ, IYT
7.51% , NIHD , NII Holdings, Inc.
2.44% , RWR , REIT Wilshire, RWR
2.55% , UST , UST
3.62% , KCE , Capital Markets KWB ST, KCE
5.43% , PWER , POWER ONE
0.87% , IWS , Value MidCap Russell, IWS
2.28% , RZV , Value SmallCap S&P 600, RZV

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol , Name

-10.42% , SBUX , STARBUCKS
-10.12% , WHR , WHIRLPOOL
-0.61% , ITF , Japan LargeCap Blend TOPIX 150, ITF
-4.09% , ABI , Applera Corp-Applied Biosystems Group (ABI)
-3.05% , PTV , PACTIV
-3.43% , PDCO , Patterson Dental Company
-2.82% , WFMI , Whole Foods Market Inc
-2.52% , PXE , Energy Exploration & Prod, PXE
-0.83% , BEAS , BEA Systems Inc
-3.56% , BCR , C R BARD
-1.45% , VAW , Materials VIPERs, VAW
-2.65% , HANS , Hansen Natural, HANS
-0.49% , FEU , Value LargeCap Euro STOXX 50 DJ, FEU
-5.30% , MON , MONSANTO
-2.14% , SYY , SYSCO
-0.75% , MYY , Short 100% MidCap 400, MYY
-1.56% , IXC , Energy Global, IXC
-0.93% , VPL , Pacific VIPERs, VPL
-1.64% , CEPH , Cephalon Inc
-0.78% , FEZ , Euro STOXX 50, FEZ
-0.18% , IOO , Global 100, IOO
-1.86% , MMM , 3M
-0.85% , TLT , Bond, 20+ Years Treasury, TLT
-4.02% , APA , APACHE
-2.18% , VDE , Energy VIPERs, VDE
-0.99% , DTE , DTE ENERGY
-1.19% , ADRE , Emerging 50 BLDRS, ADRE
-1.67% , EZA , South Africa Index, EZA
-1.67% , DXD , Short 200% Dow 30 PS, DXD

Sectors: among the 9 major U.S. sectors, 6 rose and 3 fell.
Major Sectors Ranked for the Day
% Price Change Sector

3.60% Financial SPDR, XLF
1.39% Consumer Discretionary SPDR, XLY
1.21% Technology SPDR, XLK
0.64% Industrial SPDR, XLI
0.32% Health Care SPDR, XLV
0.14% Consumer Staples SPDR, XLP
-0.10% Utilities SPDR, XLU
-1.45% Materials SPDR, XLB
-2.62% Energy SPDR, XLE

Looking beyond the daily fluctuation to the major trends (listed in order of long-term relative strength):

Energy (XLE) Neutral, Market Weight. On 4/22/08, both the XLE price close and the XLE/SPY Relative Strength Ratio rose to new all-time highs, again confirming a major uptrend.

Materials (XLB) Neutral, Market Weight. On 4/16/08, both the XLB price and the XLB/SPY Relative Strength Ratio rose to new all-time highs, confirming a major uptrend.

Consumer Staples (XLP) Neutral, Market Weight. On 4/18/08, the XLP/SPY Relative Strength Ratio fell to a new 7-week low, confirming a corrective intermediate-term trend.

Utilities (XLU) Neutral, Market Weight. The XLU/SPY Relative Strength Ratio has been in a moderately rising trend since 3/25/08, and so Utilities have improved somewhat in these rankings.

Industrial (XLI) Neutral, Market Weight. On 4/17/08, the XLI/SPY Relative Strength Ratio fell to a new 7-week low, confirming a corrective intermediate-term trend.

Technology (XLK) Neutral, Market Weight. On 4/24/08, the XLK/SPY Relative Strength Ratio rose to another new 3-month high, signaling an improving intermediate-term trend.

Consumer Discretionary (XLY) Bearish, Underweight. On 4/16/08, the XLY/SPY Relative Strength Ratio fell to a new 13-week low, suggesting renewed weakness. On 1/11/08, the XLY/SPY Relative Strength Ratio fell to a new 6-year low, confirming a major downtrend.

Health Care (XLV) Bearish, Underweight. On 4/22/08, the XLV/SPY Relative Strength Ratio fell to a new 6-year low, again confirming the existing Primary Bearish trend.

Financial (XLF) Bearish, Underweight. On 3/17/08, both absolute price and the XLF/SPY Relative Strength Ratio fell to their lowest levels in nearly 5-years, again confirming a major Bearish trend.

Foreign stock indexes have shown in line relative strength in recent weeks. Intermediate term, the EFA (the EAFE, international developed country stock markets, ex the U.S. and Canada) has underperformed since 11/27/07.

NASDAQ Composite price underperformed since 11/7/07. The minor Ripple trend has improved only slightly since 3/3/08 and appears questionable at best. On 3/3/08, Relative Strength fell to a new 9-month low, confirming a significant downtrend.

Growth Stock/Value Stock Relative Strength Ratio has been in an uptrend for the intermediate term, since 2/1/08. Long term, the Growth/Value ratio (IWF/IWD) has been in an uptrend since 8/8/06.

The Small Cap/Large Cap Relative Strength Ratio broke down to a new 2.5-year low on 1/11/08. It has been trending down since 4/19/06. The main long-term trend is Relatively Bearish for Small Caps.

Crude Oil futures broke sharply below 3-day lows. The very short-term day to day trend may be starting a minor consolidation phase. Longer term trends are obviously still Bullish. U.S. OIL FUND ETF (AMEX: USO) is not a pure play on Crude Oil, although it generally moves in the same direction.

The Energy stock sector has underperformed Crude Oil since 12/10/07.

Gold futures fell sharply to new 3-week lows. The trend since 3/17/08 has been corrective. Long term, the 7-year trend is Bullish.

Silver sharply underperformed Gold since 3/5/08. In addition, iShares Silver Trust (AMEX: SLV) has been relatively weak compared to Gold longer term, since 12/7/06. Finally, for the past 28 years, since 1/2/80, Silver has underperformed Gold.

The Gold Miners ETF (GDX) Relative Strength versus Gold bullion fell to new lows. Longer-term, GDX significantly underperformed Gold since 10/31/07. Therefore, GDX trends are Bearish relative to Gold itself.

U.S. Treasury Bond prices fell to test recent lows, which could prove critical. Bond prices benefit from fears of financial crisis, and they correct when financial crisis takes a back seat to some other news of the day.

The U.S. dollar bounced sharply higher toward the upper end of its trading range. The U.S. dollar has been consolidating losses since its low on 3/17/08. The minor trend may appear uncertain, but the major trend of the dollar is down.

The Art of Contrary Thinking: Traders need to be extremely nimble to keep up with rapid changes in the mass mood of late. The business and financial news has flipped from fear to hope and back again many times in recent weeks, creating an extremely choppy trading environment. Investors’ moods and stock volatility have jumped up and down abruptly with the latest “reports”. When mass psychology shifts so dramatically and unpredictably from hope to fear, without warning, risk control becomes more important than aggressive profit seeking. Stay flexible.

Sentiment/Contrary Opinion: There were 39.1% Bulls versus 35.6% Bears as of 4/23/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio rose to 1.10, up from 0.97 the previous week. The ratio’s 38-year range is 0.28 to 17.51, and the median is 1.47.

VIX “Fear Index”, now at 20.06, is relatively low by Bear Market standards (around 20 to 40) but relatively high by Bull Market standards (around 10 to 20). Longer term, VIX has been in a rising trend since it hit a 13-year low of 9.89 on 1/24/07. The all-time high was 45.74 on 10/8/98. 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”, now at 23.72, is low by Bear Market standards (around 35 to 80) but relatively high by Bull Market standards (around 12 to 26). Longer term, VXN has been in a rising trend since it hit its all-time low of 12.61 on 7/29/05. The all-time high was 114.23 on 10/8/98. VXN measures Nasdaq Volatility using a method comparable to that used for VIX.

CBOE Put/Call Ratio is 0.67, which indicates relatively neutral sentiment. Its 4-year simple moving average and median are 0.62, and its 4-year range is 0.35 to 1.28.

ISEE Call/Put Ratio is 125, which indicates relatively neutral sentiment. The ratio’s 4-year simple moving average is 1.50, 4-year median is 1.47, and 4-year range is 0.51 to 3.04.

Fundamentals: The 2003-2007 Bull Market was fed by abundant global liquidly, M&A, leveraged buyouts, corporate stock buybacks, and the net balance of positive earnings surprises. The unfolding fallout from the subprime credit market crisis has derailed that engine. Economic statistics and corporate earnings have been weakening.

A Secondary Reaction was signaled on 4/18/28, when the Dow-Jones Industrials and Transports both closed at 3-month highs. But the Primary Tide Major Trend may still be Bearish. The Dow Theory confirmed a Primary Bear Market on 11/21/07 when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed below their respective closing price lows of August, 2007. On 11/7/07, the Transports closed below their 8/16/07 closing price low of 4,671.88. Then on 11/21/07, the Dow-Jones Industrial Average closed below its 8/16/07 closing price low of 12,845.78, thereby turning the Primary Tide Bearish.

To discover the next Resistance, traders probably will be watching how the market acts at the following levels for the Standard & Poor’s 500 cash index (1,388.82):

Potential Resistance
1,576.09, high of 10/11/2007
1,552.76, high of 10/31/2007
1,523.57, high of 12/11/2007
1,498.85, high of 12/26/2007
1,403.45, low of 1/7/2008
1,397.72, high of 4/24/2008
1,396.02, high of 2/1/2008

To discover the next Support, traders probably will be watching how the market acts at the following levels for the S&P 500 cash index (1,388.82):

Potential Support
1,324.35, low of 4/15/2008
1,256.98, low of 3/17/2008
1,224.54, low of 7/18/2006
1,219.29, low of 6/14/2006
1,214.45, low of 11/4/2005
1,201.07, low of 11/2/2005
1,168.20, low of 10/13/2005
1,163.23, high of 3/5/2004
1,159.86, low of 5/17/2005
1,153.64, low of 5/16/2005
1,146.18, low of 5/13/2005
1,139.14, low of 4/29/2005
1,136.37, low of 4/20/2005

Daily Rankings of Major ETFs, Ranked from Strongest to Weakest of the Day:

3.93% Bank Regional H, RKH
3.90% Financial Services DJ, IYG
3.62% Capital Markets KWB ST, KCE
3.60% Financial SPDR, XLF
3.58% Dividend High Yield Equity PS, PEY
3.39% Financials VIPERs, VFH
3.31% Financial DJ US, IYF
3.09% Homebuilders SPDR, XHB
2.94% Internet B2B H, BHH
2.86% Dividend Growth PS, PHJ
2.81% Networking, PXQ
2.77% Dividend Leaders, FDL
2.77% Value S&P 500, RPV
2.69% Retail, PMR
2.44% REIT Wilshire, RWR
2.43% Insurance, PIC
2.31% Value MidCap S&P 400, RFV
2.30% Real Estate US DJ, IYR
2.28% Value SmallCap S&P 600, RZV
2.11% Dividend DJ Select, DVY
2.11% Transportation Av DJ, IYT
2.02% Dividend SPDR, SDY
1.99% Networking, IGN
1.99% Realty Cohen & Steers, ICF
1.96% Aerospace & Defense, PPA
1.85% Broadband H, BDH
1.78% Semiconductor iS GS, IGW
1.74% China 25 iS, FXI
1.72% Software, PSJ
1.71% Value SmallCap iS M, JKL
1.67% Value Small Cap DJ, DSV
1.63% Financials Global LargeCap Value, IXG
1.62% Value SmallCap Dynamic PS, PWY
1.54% Consumer D. VIPERs, VCR
1.52% OTC Dynamic PS, PWO
1.50% Leisure & Entertainment, PEJ
1.49% Value LargeCap Fundamental RAFI 1000, PRF
1.48% Value SmallCap S&P 600 B, IJS
1.46% Semiconductors, PSI
1.43% Consumer Cyclical DJ, IYC
1.42% Retail H, RTH
1.42% Value MidCap iS M, JKI
1.39% Consumer Discretionary SPDR, XLY
1.38% Value SmallCap Russell 2000, IWN
1.38% Internet Architecture H, IAH
1.36% Ultra QQQ Double, QLD
1.35% Telecommunications & Wireless, PTE
1.35% SmallCap S&P 600, IJR
1.34% Value S&P 500 B, IVE
1.33% Growth BARRA Small Cap 600, IJT
1.31% Info Tech VIPERs, VGT
1.27% Telecom DJ US, IYZ
1.26% Micro Cap Zachs, PZI
1.23% Technology DJ US, IYW
1.23% Ultra Dow30 Double, DDM
1.23% Semiconductor SPDR, XSD
1.21% Growth SmallCap Dynamic PS, PWT
1.21% Technology SPDR, XLK
1.20% Wilshire 5000 ST TM, TMW
1.20% Internet Infrastructure H, IIH
1.18% Value Large Cap DJ, ELV
1.18% Growth SmallCap iS M, JKK
1.18% Software, IGV
1.18% Technology Global, IXN
1.17% Small Cap VIPERs, VB
1.17% SmallCap Core iS M, JKJ
1.15% Technology GS, IGM
1.15% Growth SmallCap R 2000, IWO
1.15% Hardware & Electronics, PHW
1.13% Growth SmallCap VIPERs, VBK
1.09% LargeCap Blend Dynamic PS, PWC
1.09% Technology MS sT, MTK
1.09% SmallCap PS Zacks, PZJ
1.09% Value LargeCap iS M, JKF
1.08% Value VIPERs, VTV
1.08% LargeCap Blend Core iS M, JKD
1.07% Value MidCap S&P 400 B, IJJ
1.07% Microcap Russell, IWC
1.03% Value SmallCap VIPERS, VBR
1.01% Growth LargeCap NASDAQ Fidelity, ONEQ
1.00% Industrial LargeCap Blend DJ US, IYJ
1.00% Industrials VIPERs, VIS
0.98% MidCap Blend Core iS M, JKG
0.98% Semiconductor H, SMH
0.98% LargeCap Rydex Rus Top 50, XLG
0.96% SmallCap Russell 2000, IWM
0.96% Growth MidCap S&P 400, RFG
0.95% Telecom Services VIPERs, VOX
0.93% Value MidCap Dynamic PS, PWP
0.91% Value LargeCap NYSE 100 iS, NY
0.90% Growth LargeCap NASDAQ 100, QQQQ
0.89% Value LargeCap Dynamic PS, PWV
0.89% LargeCap Blend S&P 1500 iS, ISI
0.89% Value 1000 Russell, IWD
0.88% LargeCap Blend S&P 100, OEF
0.87% Value MidCap Russell, IWS
0.87% Dividend Achievers PS, PFM
0.87% Growth Small Cap DJ, DSG
0.85% Value LargeCap Russell 3000, IWW
0.80% Ultra S&P500 Double, SSO
0.79% Telecom H, TTH
0.77% Nanotech Lux, PXN
0.76% LargeCap Blend S&P=Weight R, RSP
0.71% China LargeCap Growth G D H USX PS, PGJ
0.67% Value 40 Large Low P/E FT DB, FDV
0.67% Growth Mid Cap Dynamic PS, PWJ
0.66% LargeCap 1000 R, IWB
0.65% Extended Mkt VIPERs, VXF
0.64% Industrial SPDR, XLI
0.63% S&P 500 iS LargeCap Blend, IVV
0.62% LargeCap Blend Total Market DJ, IYY
0.57% Healthcare Global, IXJ
0.56% MidCap S&P 400 iS, IJH
0.56% Growth 1000 Russell, IWF
0.56% MidCap Russell, IWR
0.56% Blend Total Market VIPERs, VTI
0.55% Growth MidCap Russell, IWP
0.54% Pharmaceutical H, PPH
0.54% Growth LargeCap Russell 3000, IWZ
0.53% LargeCap Blend Russell 3000, IWV
0.52% Pharmaceuticals, PJP
0.52% LargeCap Blend Socially Responsible iS, KLD
0.52% Ultra MidCap400 Double, MVV
0.49% Software H, SWH
0.48% Dividend Appreciation Vipers, VIG
0.45% LargeCap VIPERs, VV
0.44% S&P 500 SPDRs LargeCap Blend, SPY
0.42% MidCap VIPERs, VO
0.41% MidCap S&P 400 SPDRs, MDY
0.41% Malaysia Index, EWM
0.38% IPOs, First Tr IPOX-100, FPX
0.37% MidCap Growth iS M, JKH
0.32% Health Care SPDR, XLV
0.31% Growth MidCap 400 B, IJK
0.29% Lg Cap Growth PSD, PWB
0.28% Growth VIPERs, VUG
0.26% Biotech SPDR, XBI
0.26% Hong Kong Index, EWH
0.25% LargeCap Blend NYSE Composite iS, NYC
0.25% Growth S&P 500, RPG
0.23% Mexico Index, EWW
0.23% Growth LargeCap iS M, JKE
0.22% Biotechnology, IBB
0.14% Consumer Staples SPDR, XLP
0.11% Healthcare DJ, IYH
0.11% Growth Large Cap, ELG
0.06% Biotech & Genome, PBE
0.05% Water Resources, PHO
0.02% Health Care VIPERs, VHT
0.00% Dividend International, PID
-0.05% South Korea Index, EWY
-0.06% Food & Beverage, PBJ
-0.07% Growth S&P 500/BARRA, IVW
-0.08% Switzerland Index, EWL
-0.08% Consumer Non-Cyclical, IYK
-0.10% Utilities SPDR, XLU
-0.10% Consumer Staples VIPERs, VDC
-0.11% Austria Index, EWO
-0.12% Building & Construction, PKB
-0.13% Bond, Corp, LQD
-0.18% Global 100, IOO
-0.19% Italy Index, EWI
-0.21% Telecommunications Global, IXP
-0.28% Bond, 1-3 Year Treasury, SHY
-0.31% Developed 100 BLDRS, ADRD
-0.33% Global Titans, DGT
-0.35% United Kingdom Index, EWU
-0.37% Bond, Aggregate, AGG
-0.38% Spain Index, EWP
-0.39% Europe 350 S&P Index, IEV
-0.41% Value Line Timeliness MidCap Gr, PIV
-0.41% Taiwan Index, EWT
-0.44% Short 100% S&P 500, SH
-0.47% Utilities, PUI
-0.48% Asia 50 BLDRS, ADRA
-0.48% Utilities DJ, IDU
-0.49% Utilities VIPERs, VPU
-0.49% Value LargeCap Euro STOXX 50 DJ, FEU
-0.50% European VIPERs, VGK
-0.51% Singapore Index, EWS
-0.53% Biotech H, BBH
-0.55% Canada Index, EWC
-0.56% EMU Europe Index, EZU
-0.56% WilderHill Clean Energy PS, PBW
-0.57% Europe 100 BLDRS, ADRU
-0.58% Emerging VIPERs, VWO
-0.60% Oil & Gas, PXJ
-0.61% Japan LargeCap Blend TOPIX 150, ITF
-0.64% Netherlands Index, EWN
-0.65% EAFE Index, EFA
-0.67% Value EAFE MSCI, EFV
-0.68% Utilities H, UTH
-0.70% Growth EAFE MSCI, EFG
-0.75% Short 100% MidCap 400, MYY
-0.75% Short 100% Dow 30, DOG
-0.77% Japan Index, EWJ
-0.78% Euro STOXX 50, FEZ
-0.78% Bond, 10 Year Treasury, IEF
-0.78% Pacific ex-Japan, EPP
-0.80% Internet H, HHH
-0.84% France Index, EWQ
-0.85% Bond, 20+ Years Treasury, TLT
-0.88% Germany Index, EWG
-0.89% Sweden Index, EWD
-0.90% Bond, TIPS, TIP
-0.93% Pacific VIPERs, VPL
-1.09% Belgium Index, EWK
-1.19% Emerging 50 BLDRS, ADRE
-1.23% Short 200% MidCap 400 PS, MZZ
-1.27% Short 100% QQQ, PSQ
-1.28% Emerging Markets, EEM
-1.45% Materials VIPERs, VAW
-1.45% Short 200% S&P 500 PS, SDS
-1.45% Materials SPDR, XLB
-1.53% Short 200% QQQ PS, QID
-1.56% Energy Global, IXC
-1.62% Australia Index, EWA
-1.67% Short 200% Dow 30 PS, DXD
-1.67% South Africa Index, EZA
-1.68% Commodity Tracking, DBC
-1.89% Latin Am 40, ILF
-1.95% Basic Materials DJ US, IYM
-2.08% Oil, Crude, U.S. Oil Fund, USO
-2.18% Energy VIPERs, VDE
-2.24% Gold Shares S.T., GLD
-2.31% Oil Services H, OIH
-2.34% Energy DJ, IYE
-2.37% Natural Resource iS GS, IGE
-2.52% Energy Exploration & Prod, PXE
-2.55% Brazil Index, EWZ
-2.62% Energy SPDR, XLE
-2.64% Silver Trust iS, SLV
-3.15% Metals & Mining SPDR, XME