By Robert W. Colby, Senior Analyst TraderPlanet.com
Stocks: Bearish Key Reversal Day Confirmed by High Volume.
Momentum indicators show Bearish Divergence.
Consumer Discretionary Stock Sector XLY/SPY Relative Strength Ratio fell to a new 14-week low.
Consumer Staples Stock Sector XLP/SPY Relative Strength Ratio fell to a new 9-week low.
Crude Oil fell to break short-term uptend lines and close below the lowest intraday lows of the previous 7 trading days.
Gold broke down to another new 3-month low, again confirming a serious Secondary Reaction.
The volume of declining stocks exceeded the volume of advancing stocks by 19%. Total NYSE volume rose 18%, confirming a Bearish Key Reversal Day.
The Fed cut both the fed funds and discount rate rates by 25 basis points, as widely expected. The FMOC’s statement was nearly unchanged–except for deleting the phrase “downside risks to growth remain.” This seemingly modest alteration was generally intepreted to imply that the Fed might be finished cutting rates and now might wait-and-see how conditions develop going forward.
There could be more news-related volatility this week. Payrolls/employment and earnings reports are wild cards to be dealt to an already uncertain, skittish 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.
The new 3-month highs on 4/30/08 could prove to be a Bull Trap. With buy stops above the market cleared out, demand from that source might be exhausted. The recent 14-week correction/consolidation phase may be nothing more than 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.
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
0.93% , IXC , Energy Global, IXC
9.43% , GM , GENERAL MOTORS
8.98% , CMI , CUMMINS
7.61% , EWZ , Brazil Index, EWZ
5.53% , JNY , JONES APPAREL
5.85% , IPG , INTERPUBLIC GRP
3.37% , KSU , Kansas City Southern, KSU
4.97% , APOL , APOLLO GROUP
0.53% , EWK , Belgium Index, EWK
2.81% , ADRE , Emerging 50 BLDRS, ADRE
3.35% , SLM , SLM CORP
0.48% , EWU , United Kingdom Index, EWU
5.71% , ABK , AMBAC FINL GRP
4.28% , IR , INGER RAND
0.94% , VDE , Energy VIPERs, VDE
0.65% , FEZ , Euro STOXX 50, FEZ
2.18% , CECO , CAREER EDUCATION CORP
0.11% , RFG , Growth MidCap S&P 400, RFG
4.38% , ILF , Latin Am 40, ILF
0.32% , EWD , Sweden Index, EWD
4.66% , RFMD , RF Micro Devices Inc
2.83% , GOOG , Google
2.50% , LNC , LINCOLN NATL
2.28% , NCR , NCR
0.66% , ADRA , Asia 50 BLDRS, ADRA
1.46% , IGT , INTL GAME TECH
1.43% , CMCSA , COMCAST HOLDINGS STK A
2.27% , TEVA , Teva Pharmaceutical Industries Limited
1.63% , VWO , Emerging VIPERs, VWO
3.32% , ACE , ACE
3.96% , WAT , WATERS
1.73% , NVDA , NVIDIA
1.71% , IACI , IAC/INTERACTIVCORP
0.50% , VAW , Materials VIPERs, VAW
0.68% , EBAY , EBAY
1.04% , GWW , WW GRAINGER
0.68% , DRI , DARDEN REST
1.47% , EWC , Canada Index, EWC
1.31% , LSI , LSI LOGIC
2.55% , HANS , Hansen Natural, HANS
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol , Name
-11.93% , GRMN , GARMIN LTD
-1.43% , IAH , Internet Architecture H, IAH
-7.71% , TNB , THOMAS & BETTS
-6.70% , CL , COLGATE
-8.17% , SEE , SEALED AIR
-0.66% , PWO , OTC Dynamic PS, PWO
-2.03% , SWH , Software H, SWH
-0.38% , VOX , Telecom Services VIPERs, VOX
-9.55% , OMX , OFFICEMAX INC., OMX
-0.71% , HHH , Internet H, HHH
-3.90% , TE , TECO ENERGY
-4.17% , IP , INTL PAPER
-5.37% , PETM , PETsMART Inc
-1.23% , PMR , Retail, PMR
-6.91% , RAI , RJR TOBACCO HLDS
-3.99% , C , CITIGROUP
-0.56% , RFV , Value MidCap S&P 400, RFV
-12.42% , UIS , UNISYS
-1.89% , IGW , Semiconductor iS GS, IGW
-1.27% , PSI , Semiconductors, PSI
-3.23% , LIZ , LIZ CLAIRBORNE
-7.36% , JWN , NORDSTROM
-0.91% , IGM , Technology GS, IGM
-4.48% , KLAC , KLA TENCOR
-0.33% , PHW , Hardware & Electronics, PHW
-3.83% , XHB , Homebuilders SPDR, XHB
-4.32% , SPLS , STAPLES
-1.00% , MTK , Technology MS sT, MTK
-4.04% , LTD , LIMITED BRANDS
-1.67% , FRX , FOREST LABS STK A
-2.92% , CHKP , Check Point Software Technologies Ltd
-4.32% , SANM , SANMINA
-5.00% , LEH , LEHMAN BROS HLDG
-3.47% , XLY , Consumer Discretionary SPDR, XLY
-4.34% , CINF , CINCINNATI FIN
-0.75% , NY , Value LargeCap NYSE 100 iS, NY
-4.81% , SIRI , Sirius Satellite
-1.06% , SDY , Dividend SPDR, SDY
-2.65% , CLX , CLOROX
-1.98% , UNM , UNUMPROVIDENT
Sectors: among the 9 major U.S. sectors,3 rose and 6 fell.
Major Sectors Ranked for the Day
% Price Change Sector
0.74% Energy SPDR, XLE
0.71% Industrial SPDR, XLI
0.24% Materials SPDR, XLB
-0.30% Financial SPDR, XLF
-0.54% Health Care SPDR, XLV
-0.65% Utilities SPDR, XLU
-1.71% Consumer Staples SPDR, XLP
-1.77% Technology SPDR, XLK
-3.47% Consumer Discretionary SPDR, XLY
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.
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.
Consumer Staples (XLP) Neutral, Market Weight. On 4/30/08, the XLP/SPY Relative Strength Ratio fell to a new 9-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.
Technology (XLK) Neutral, Market Weight. On 4/24/08, the XLK/SPY Relative Strength Ratio rose to a new 3-month high, signaling an improving intermediate-term trend.
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.
Consumer Discretionary (XLY) Bearish, Underweight. On 4/30/08, the XLY/SPY Relative Strength Ratio fell to a new 14-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.
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 June futures fell to break short-term uptend lines and close below the lowest intraday lows of the previous 7 trading days. Short term trends appear corrective to the downide, while longer term trends are 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 June futures broke down to another new 3-month low, again confirming a serious Secondary Reaction. Gold has been in a downside correction since 3/17/08. Longer term, the 7-year trend is still 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) / Gold Bullion Relative Strength Ratio fell to another new low on 4/29/08. Longer-term, GDX significantly underperformed Gold since 10/31/07. Therefore, GDX trends are Bearish relative to Gold itself.
U.S. Treasury Bond prices rose sharply to break short-term downtend lines and close above the highest intraday highs of the previous 4 trading days. This suggests relief from selling pressure for the short term, but there is not enough evidence to be certain that the recent 6-week downside correction phase is complete or whether testing and bottom building might be ahead. Bond prices benefit from fears of financial crisis, and they correct to the downside when financial crisis takes a back seat to some other news of the day.
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 40.9% Bulls versus 31.8% Bears as of 4/30/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio rose to 1.29, up from 1.10 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 20.79, is 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 24.41, 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 1.40, 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 (1,385.59):
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
1,404.57, high of 4/30/2008
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:
7.61% Brazil Index, EWZ
4.38% Latin Am 40, ILF
2.81% Emerging 50 BLDRS, ADRE
2.06% Silver Trust iS, SLV
2.06% Emerging Markets, EEM
1.63% Emerging VIPERs, VWO
1.59% Short 200% QQQ PS, QID
1.56% Austria Index, EWO
1.47% Canada Index, EWC
1.17% Australia Index, EWA
1.08% Pacific ex-Japan, EPP
1.04% South Korea Index, EWY
1.04% Oil & Gas, PXJ
0.98% Developed 100 BLDRS, ADRD
0.98% Gold Shares S.T., GLD
0.94% Energy VIPERs, VDE
0.93% Energy Global, IXC
0.90% Mexico Index, EWW
0.89% Oil Services H, OIH
0.88% Metals & Mining SPDR, XME
0.88% Hong Kong Index, EWH
0.88% Energy DJ, IYE
0.85% Basic Materials DJ US, IYM
0.84% China 25 iS, FXI
0.82% Telecommunications Global, IXP
0.79% IPOs, First Tr IPOX-100, FPX
0.78% Short 200% S&P 500 PS, SDS
0.76% Growth EAFE MSCI, EFG
0.74% Energy SPDR, XLE
0.72% Natural Resource iS GS, IGE
0.72% Bond, 20+ Years Treasury, TLT
0.71% Industrial SPDR, XLI
0.66% Asia 50 BLDRS, ADRA
0.65% Euro STOXX 50, FEZ
0.62% China LargeCap Growth G D H USX PS, PGJ
0.62% Dividend International, PID
0.61% Bond, Aggregate, AGG
0.61% Pacific VIPERs, VPL
0.56% Bond, Corp, LQD
0.55% Value LargeCap Euro STOXX 50 DJ, FEU
0.54% EAFE Index, EFA
0.53% Short 100% QQQ, PSQ
0.53% Belgium Index, EWK
0.50% Materials VIPERs, VAW
0.50% Europe 100 BLDRS, ADRU
0.48% United Kingdom Index, EWU
0.48% Netherlands Index, EWN
0.47% Bond, TIPS, TIP
0.45% Japan Index, EWJ
0.39% Switzerland Index, EWL
0.38% Spain Index, EWP
0.38% Short 100% S&P 500, SH
0.37% EMU Europe Index, EZU
0.35% LargeCap Blend NYSE Composite iS, NYC
0.35% Japan LargeCap Blend TOPIX 150, ITF
0.34% Global Titans, DGT
0.34% Germany Index, EWG
0.32% Sweden Index, EWD
0.32% Bond, 10 Year Treasury, IEF
0.31% Short 200% Dow 30 PS, DXD
0.30% Europe 350 S&P Index, IEV
0.30% Telecom H, TTH
0.28% Value EAFE MSCI, EFV
0.27% European VIPERs, VGK
0.25% Internet B2B H, BHH
0.24% Taiwan Index, EWT
0.24% Materials SPDR, XLB
0.24% Global 100, IOO
0.23% Networking, IGN
0.20% Leisure & Entertainment, PEJ
0.19% Bond, 1-3 Year Treasury, SHY
0.18% Value Line Timeliness MidCap Gr, PIV
0.15% Singapore Index, EWS
0.14% Water Resources, PHO
0.14% France Index, EWQ
0.11% Growth MidCap S&P 400, RFG
0.10% Short 100% MidCap 400, MYY
0.10% Utilities H, UTH
0.09% Short 200% MidCap 400 PS, MZZ
0.08% Financials Global LargeCap Value, IXG
0.06% Italy Index, EWI
0.02% MidCap Growth iS M, JKH
0.01% DIAMONDS (DJIA), DIA
0.00% Growth Mid Cap Dynamic PS, PWJ
0.00% Growth MidCap 400 B, IJK
0.00% Telecom DJ US, IYZ
-0.02% Short 100% Dow 30, DOG
-0.03% Biotech H, BBH
-0.04% Energy Exploration & Prod, PXE
-0.08% Industrials VIPERs, VIS
-0.09% Growth SmallCap VIPERs, VBK
-0.13% Value VIPERs, VTV
-0.13% Pharmaceutical H, PPH
-0.18% Food & Beverage, PBJ
-0.18% Commodity Tracking, DBC
-0.19% WilderHill Clean Energy PS, PBW
-0.22% Utilities DJ, IDU
-0.23% Growth BARRA Small Cap 600, IJT
-0.23% Value 1000 Russell, IWD
-0.24% MidCap S&P 400 SPDRs, MDY
-0.25% Healthcare Global, IXJ
-0.25% Growth S&P 500, RPG
-0.25% Wilshire 5000 ST TM, TMW
-0.26% Ultra Dow30 Double, DDM
-0.27% Value LargeCap iS M, JKF
-0.27% Growth SmallCap iS M, JKK
-0.28% Growth 1000 Russell, IWF
-0.28% LargeCap Blend S&P 100, OEF
-0.28% Technology Global, IXN
-0.29% Micro Cap Zachs, PZI
-0.30% Biotechnology, IBB
-0.30% Financial SPDR, XLF
-0.31% Telecommunications & Wireless, PTE
-0.32% Value SmallCap Dynamic PS, PWY
-0.33% Consumer Non-Cyclical, IYK
-0.33% Hardware & Electronics, PHW
-0.34% Extended Mkt VIPERs, VXF
-0.34% MidCap Russell, IWR
-0.34% South Africa Index, EZA
-0.34% Value LargeCap Russell 3000, IWW
-0.35% Value 40 Large Low P/E FT DB, FDV
-0.35% Pharmaceuticals, PJP
-0.36% MidCap S&P 400 iS, IJH
-0.36% Value LargeCap Dynamic PS, PWV
-0.36% Small Cap VIPERs, VB
-0.37% Software, PSJ
-0.38% Growth SmallCap R 2000, IWO
-0.38% Telecom Services VIPERs, VOX
-0.38% Value Large Cap DJ, ELV
-0.39% LargeCap Rydex Rus Top 50, XLG
-0.40% Industrial LargeCap Blend DJ US, IYJ
-0.40% Blend Total Market VIPERs, VTI
-0.41% Growth VIPERs, VUG
-0.41% Growth S&P 500/BARRA, IVW
-0.41% Healthcare DJ, IYH
-0.41% Growth Large Cap, ELG
-0.42% LargeCap VIPERs, VV
-0.42% LargeCap Blend Socially Responsible iS, KLD
-0.42% Microcap Russell, IWC
-0.43% Biotech SPDR, XBI
-0.43% SmallCap S&P 600, IJR
-0.43% LargeCap Blend Dynamic PS, PWC
-0.44% MidCap Blend Core iS M, JKG
-0.44% Utilities, PUI
-0.44% SmallCap Core iS M, JKJ
-0.45% S&P 500 iS LargeCap Blend, IVV
-0.45% Growth Small Cap DJ, DSG
-0.46% Lg Cap Growth PSD, PWB
-0.46% Value MidCap S&P 400 B, IJJ
-0.47% LargeCap Blend Total Market DJ, IYY
-0.47% SmallCap Russell 2000, IWM
-0.48% LargeCap Blend S&P 1500 iS, ISI
-0.50% Growth MidCap Russell, IWP
-0.50% LargeCap 1000 R, IWB
-0.50% Growth LargeCap iS M, JKE
-0.52% Internet Infrastructure H, IIH
-0.53% Value MidCap Russell, IWS
-0.53% Oil, Crude, U.S. Oil Fund, USO
-0.54% Health Care SPDR, XLV
-0.55% Value SmallCap Russell 2000, IWN
-0.56% Ultra MidCap400 Double, MVV
-0.56% Value MidCap S&P 400, RFV
-0.56% LargeCap Blend Russell 3000, IWV
-0.57% Utilities VIPERs, VPU
-0.57% Value S&P 500 B, IVE
-0.58% Value MidCap Dynamic PS, PWP
-0.58% Value LargeCap Fundamental RAFI 1000, PRF
-0.58% Health Care VIPERs, VHT
-0.59% S&P 500 SPDRs LargeCap Blend, SPY
-0.60% Bank Regional H, RKH
-0.60% LargeCap Blend Core iS M, JKD
-0.62% MidCap VIPERs, VO
-0.63% Value MidCap iS M, JKI
-0.64% SmallCap PS Zacks, PZJ
-0.64% Dividend Appreciation Vipers, VIG
-0.64% Growth LargeCap Russell 3000, IWZ
-0.64% Value SmallCap VIPERS, VBR
-0.65% Growth LargeCap NASDAQ Fidelity, ONEQ
-0.65% Utilities SPDR, XLU
-0.66% OTC Dynamic PS, PWO
-0.67% Consumer Staples VIPERs, VDC
-0.67% Malaysia Index, EWM
-0.70% Dividend DJ Select, DVY
-0.71% Internet H, HHH
-0.73% Biotech & Genome, PBE
-0.75% Value LargeCap NYSE 100 iS, NY
-0.76% Aerospace & Defense, PPA
-0.76% Consumer Cyclical DJ, IYC
-0.80% Value Small Cap DJ, DSV
-0.80% Dividend Achievers PS, PFM
-0.82% Growth LargeCap NASDAQ 100, QQQQ
-0.83% Technology DJ US, IYW
-0.83% Value SmallCap S&P 600 B, IJS
-0.88% Transportation Av DJ, IYT
-0.90% LargeCap Blend S&P=Weight R, RSP
-0.91% Technology GS, IGM
-0.92% Insurance, PIC
-0.95% Dividend Leaders, FDL
-1.00% Technology MS sT, MTK
-1.01% Financial Services DJ, IYG
-1.03% Financials VIPERs, VFH
-1.04% Ultra S&P500 Double, SSO
-1.05% Consumer D. VIPERs, VCR
-1.06% Dividend SPDR, SDY
-1.07% Value SmallCap iS M, JKL
-1.09% Info Tech VIPERs, VGT
-1.09% Financial DJ US, IYF
-1.14% Building & Construction, PKB
-1.23% Retail, PMR
-1.24% Software, IGV
-1.26% Broadband H, BDH
-1.27% Semiconductors, PSI
-1.29% Value SmallCap S&P 600, RZV
-1.31% Semiconductor SPDR, XSD
-1.35% REIT Wilshire, RWR
-1.40% REIT VIPERs, VNQ
-1.40% Dividend Growth PS, PHJ
-1.41% Growth SmallCap Dynamic PS, PWT
-1.42% Semiconductor H, SMH
-1.43% Internet Architecture H, IAH
-1.50% Ultra QQQ Double, QLD
-1.53% Networking, PXQ
-1.54% Value S&P 500, RPV
-1.64% Realty Cohen & Steers, ICF
-1.71% Consumer Staples SPDR, XLP
-1.75% Real Estate US DJ, IYR
-1.77% Technology SPDR, XLK
-1.78% Retail H, RTH
-1.89% Semiconductor iS GS, IGW
-1.99% Capital Markets KWB ST, KCE
-2.03% Software H, SWH
-2.37% Nanotech Lux, PXN
-2.41% Dividend High Yield Equity PS, PEY
-3.47% Consumer Discretionary SPDR, XLY
-3.83% Homebuilders SPDR, XHB
