By Robert W. Colby, Senior Analyst TraderPlanet.com
FEAR of STAGFLATION.
Stock indexes broke down from a Bearish Rising Wedge.
For major stock price indexes, damage has been done to trend and momentum indicators.
The weight of the evidence appears to be turning more Bearish for the stock market in general.
All 9 major stock sectors fell. Total NYSE volume rose 17%, suggesting a significant increase in selling pressure on stocks. The volume of declining stocks was 371% greater than the volume of advancing stocks.
The popular S&P DEP RECEIPTS (AMEX: SPY) fell 2.40 points or 1.69% to close at 139.49. SPY broke down below its lows of the previous 6 trading days. SPY also broke down below an uptrend line rising from its 3/17/08 low. That uptrend line was the lower boundary line of a Bearish Rising Wedge pattern. That breakdown implies a test of the March low.
Momentum indicators turned Bearish: RSI (14) and Stochastic (14) broke down to their lowest level in more than a month, and MACD Histogram turned negative.
I have been assuming that the March-May rally was nothing more than a counter-trend rally and Secondary Reaction Continuation Pattern within the context of a Primary Bearish Trend. That may yet prove accurate. The sum total weight of the evidence for the stock market in general has appeared mixed for weeks but seems to be taking on more of a Bearish bias this week. So, a cautious approach still seems prudent.
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
3.42% , INTU , INTUIT
2.98% , NOV , NATIONAL OILWELL VARC0
2.66% , LXK , LEXMARK INTL STK A
3.33% , MZZ , Short 200% MidCap 400 PS, MZZ
2.03% , SRCL , Stericycle, SRCL
3.84% , USO , Oil, Crude, U.S. Oil Fund, USO
3.95% , BUD , ANHEUSER BUSCH
0.78% , DISCA , Discovery Holding Co.
2.05% , TE , TECO ENERGY
4.66% , QID , Short 200% QQQ PS, QID
2.30% , PSQ , Short 100% QQQ, PSQ
1.90% , MYY , Short 100% MidCap 400, MYY
3.60% , DXD , Short 200% Dow 30 PS, DXD
1.51% , BCR , C R BARD
1.44% , OMX , OFFICEMAX INC., OMX
2.04% , PGJ , China LargeCap Growth G D H USX PS, PGJ
1.79% , MRO , MARATHON OIL
2.92% , DBC , Commodity Tracking, DBC
1.05% , DYN , DYNEGY
3.57% , SDS , Short 200% S&P 500 PS, SDS
0.56% , TWX , TIME WARNER INC
5.87% , SLM , SLM CORP
0.15% , PUI , Utilities, PUI
1.67% , CSX , CSX
0.93% , HMA , HEALTH MGMT STK A
1.39% , CEG , CONSTELL ENERGY
0.63% , SANM , SANMINA
0.62% , TUP , TUPPERWARE
0.28% , VIA , VIACOM INC. (New)
1.26% , IAU , Gold COMEX iS, IAU
0.06% , IXC , Energy Global, IXC
0.86% , PPL , PPL
0.29% , SYK , STRYKER
0.43% , CTL , CENTURYTEL
0.52% , DGX , QUEST DIAG
0.34% , LPX , LOUISIANA PAC
0.20% , ZMH , ZIMMER HLDGS
2.85% , HUM , HUMANA
1.17% , GLD , Gold Shares S.T., GLD
0.54% , AET , AETNA
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol , Name
-15.92% , MCO , MOODYS CORP
-1.82% , RPG , Growth S&P 500, RPG
-1.68% , TMW , Wilshire 5000 ST TM, TMW
-1.24% , RFG , Growth MidCap S&P 400, RFG
-1.01% , DSV , Value Small Cap DJ, DSV
-1.42% , PWO , OTC Dynamic PS, PWO
-1.53% , VOX , Telecom Services VIPERs, VOX
-2.13% , RPV , Value S&P 500, RPV
-5.53% , MHP , MCGRAW HILL
-1.27% , IGN , Networking, IGN
-6.83% , RYAAY , Ryanair Holdings plc
-10.67% , MBI , MBIA
-2.51% , XBI , Biotech SPDR, XBI
-1.37% , DSG , Growth Small Cap DJ, DSG
-3.78% , CFC , COUNTRYWIDE FNCL
-2.56% , RWR , REIT Wilshire, RWR
-1.61% , RFV , Value MidCap S&P 400, RFV
-1.36% , IWW , Value LargeCap Russell 3000, IWW
-1.15% , PXE , Energy Exploration & Prod, PXE
-1.41% , NY , Value LargeCap NYSE 100 iS, NY
-1.75% , VIS , Industrials VIPERs, VIS
-3.34% , MVV , Ultra MidCap400 Double, MVV
-5.81% , LEH , LEHMAN BROS HLDG
-3.34% , AMP , Ameriprise Financial Inc.
-1.70% , IWS , Value MidCap Russell, IWS
-1.64% , JKI , Value MidCap iS M, JKI
-2.76% , IYG , Financial Services DJ, IYG
-4.94% , GOOG , Google
-5.69% , BC , BRUNSWICK
-4.38% , DLX , DELUXE
-0.38% , PZJ , SmallCap PS Zacks, PZJ
-3.15% , FAST , Fastenal Company
-4.37% , WM , WASHINGTON MUT
-4.64% , BA , BOEING
-5.07% , COH , COACH
-1.30% , VGK , European VIPERs, VGK
-1.52% , TTH , Telecom H, TTH
-1.05% , IYK , Consumer Non-Cyclical, IYK
-1.64% , IWZ , Growth LargeCap Russell 3000, IWZ
-1.73% , PEJ , Leisure & Entertainment, PEJ
Sectors: among the 9 major U.S. sectors, all 9 fell.
Major Sectors Ranked for the Day
% Price Change Sector
-0.51% Utilities SPDR, XLU
-0.88% Health Care SPDR, XLV
-1.03% Consumer Staples SPDR, XLP
-1.48% Energy SPDR, XLE
-1.69% Industrial SPDR, XLI
-2.13% Consumer Discretionary SPDR, XLY
-2.55% Financial SPDR, XLF
-2.63% Technology SPDR, XLK
-2.93% Materials SPDR, XLB
Energy (XLE) Neutral, Market Weight. On 5/20/08, 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 5/16/08, XLB price rose to another new all-time high. On 5/20/08, XLB/SPY Relative Strength Ratio rose to another new all-time high. On 4/16/08, both the XLB price and the XLB/SPY Relative Strength Ratio rose to new all-time highs, confirming the major uptrend.
Utilities (XLU) Neutral, Market Weight. Since 10/17/02, the XLU/SPY Relative Strength Ratio has outperformed substantially. Since 5/15/08, the XLU/SPY Relative Strength Ratio has been rising again. So, Utilities have outperformed the S&P 500 both long term and short term.
Industrial (XLI) Neutral, Market Weight. Since 3/31/08, the XLI/SPY Relative Strength Ratio has underperformed moderately.
Consumer Staples (XLP) Neutral, Market Weight. Since 3/28/08, the XLP/SPY Relative Strength Ratio has underperformed moderately.
Technology (XLK) Neutral, Market Weight. On 5/15/08, the XLK/SPY Relative Strength Ratio rose to a new 4-month high, confirming an improving intermediate-term trend.
Consumer Discretionary (XLY) Bearish, Underweight. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially. 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. Since 10/9/02, the XLV/SPY Relative Strength Ratio has underperformed substantially. On 5/15/08, the XLV/SPY Relative Strength Ratio fell to another new 6-year low, again confirming the existing Primary Bearish trend.
Financial (XLF) Bearish, Underweight. On 5/21/08, the XLF/SPY Relative Strength Ratio fell to its lowest level in more than 7 years. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially. 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 remain relatively firm. EFA outperformed since 2/8/08 and, longer term, since the major bottom on 3/12/03. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.
NASDAQ Composite price underperformed since 5/15/08. Longer term, the relative trends in larger time frames are not encouraging. The NASDAQ underperformed since 11/7/07 and, on 3/3/08, Relative Strength fell to a new 9-month low, confirming downtrends in larger time frames.
Growth Stock/Value Stock Relative Strength Ratio underperformed since 5/16/08. Intermediate term, it has been in an uptrend 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 has been going nowhere since 3/26/08. The Relative Strength Ratio is still in a downtrend since the peak on 4/19/06, so the main long-term trend is Relatively Bearish for Small Caps.
Crude Oil July futures rose to another new all-time closing price high at 133.17, confirming uptrends in all time frames. 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 contract rose to a new 4-week high, again confirming its uptrend. On 5/16/08, Gold broke out to a new 3-week high and broke a downtrend line from the 3/17/08 top, thereby turning Bullish. Longer term, the 7-year trend is still Bullish.
Silver is still lagging Gold. 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 were little changed. The minor Ripple Trend is still neutral/sideways. Bonds have traced out Secondary Reaction, intermediate-term downside correction phase since the price peak on 3/20/08. 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 fell again to a new 4-week low. The minor Ripple Trend remains down. The major Primary Tide Trend of the dollar remains 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 months, 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 47.3% Bulls versus 30.8% Bears as of 5/21/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio held at 1.54, the same as 1.54 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 18.59 rose moderately but is in a downtrend, meaning that Fear has been decreasing. Generally, VIX has been falling since its peak of 32.64 on 3/17/08. The all-time high was 45.74 on 10/8/98. The all-time low was 9.89 on 1/24/07. 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 22.96 rose moderately but is in a downtrend, meaning that Fear has been decreasing. Generally, VXN has been falling since its peak of 35.63 on 1/22/08. The all-time high was 114.23 on 10/8/98. The all-time low was 12.61 on 7/29/05. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.
CBOE Put/Call Ratio is 0.79, which indicates mildly Bearish 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 1.15, which indicates relatively Bearish 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 still may 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.
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 (1,390.71):
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
1,440.24, high of 5/19/08
Potential Support
1,388.28, low of 5/9/2008
1,383.07, low of 5/1/2008
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:
4.66% Short 200% QQQ PS, QID
3.84% Oil, Crude, U.S. Oil Fund, USO
3.60% Short 200% Dow 30 PS, DXD
3.57% Short 200% S&P 500 PS, SDS
3.33% Short 200% MidCap 400 PS, MZZ
2.92% Commodity Tracking, DBC
2.30% Short 100% QQQ, PSQ
2.06% Silver Trust iS, SLV
2.04% China LargeCap Growth G D H USX PS, PGJ
1.90% Short 100% MidCap 400, MYY
1.77% Short 100% S&P 500, SH
1.74% Short 100% Dow 30, DOG
1.27% Global Titans, DGT
1.17% Gold Shares S.T., GLD
0.15% Utilities, PUI
0.15% Singapore Index, EWS
0.11% Bond, TIPS, TIP
0.06% Energy Global, IXC
0.02% Bond, 20+ Years Treasury, TLT
-0.02% Utilities DJ, IDU
-0.08% Austria Index, EWO
-0.11% Bond, 1-3 Year Treasury, SHY
-0.12% Utilities VIPERs, VPU
-0.14% Bond, Aggregate, AGG
-0.18% China 25 iS, FXI
-0.20% Utilities H, UTH
-0.24% Bond, 10 Year Treasury, IEF
-0.26% Malaysia Index, EWM
-0.27% Nanotech Lux, PXN
-0.28% Italy Index, EWI
-0.34% Healthcare Global, IXJ
-0.38% SmallCap PS Zacks, PZJ
-0.43% Software H, SWH
-0.43% Micro Cap Zachs, PZI
-0.44% Bond, Corp, LQD
-0.44% Software, IGV
-0.46% Switzerland Index, EWL
-0.47% Health Care VIPERs, VHT
-0.50% Healthcare DJ, IYH
-0.51% Utilities SPDR, XLU
-0.52% Oil & Gas, PXJ
-0.58% Hong Kong Index, EWH
-0.63% Growth SmallCap Dynamic PS, PWT
-0.68% Pharmaceutical H, PPH
-0.68% Water Resources, PHO
-0.72% Taiwan Index, EWT
-0.78% Value LargeCap Euro STOXX 50 DJ, FEU
-0.78% Emerging VIPERs, VWO
-0.80% Insurance, PIC
-0.80% France Index, EWQ
-0.86% Telecommunications & Wireless, PTE
-0.87% Energy VIPERs, VDE
-0.88% Health Care SPDR, XLV
-0.89% Euro STOXX 50, FEZ
-0.90% Food & Beverage, PBJ
-0.90% Europe 100 BLDRS, ADRU
-0.91% Consumer Staples VIPERs, VDC
-0.91% Europe 350 S&P Index, IEV
-0.91% Pacific ex-Japan, EPP
-0.92% Value LargeCap Dynamic PS, PWV
-0.93% EMU Europe Index, EZU
-0.94% Australia Index, EWA
-0.94% Telecommunications Global, IXP
-0.95% Value SmallCap S&P 600, RZV
-0.97% Growth EAFE MSCI, EFG
-0.98% Emerging 50 BLDRS, ADRE
-0.98% Pharmaceuticals, PJP
-1.00% Value SmallCap Dynamic PS, PWY
-1.01% Dividend High Yield Equity PS, PEY
-1.01% Value Small Cap DJ, DSV
-1.01% Microcap Russell, IWC
-1.02% Emerging Markets, EEM
-1.03% Consumer Staples SPDR, XLP
-1.05% SmallCap Core iS M, JKJ
-1.05% Consumer Non-Cyclical, IYK
-1.06% Dividend Appreciation Vipers, VIG
-1.06% Dividend SPDR, SDY
-1.09% Building & Construction, PKB
-1.09% Germany Index, EWG
-1.10% Value SmallCap iS M, JKL
-1.10% Netherlands Index, EWN
-1.13% Value SmallCap S&P 600 B, IJS
-1.14% EAFE Index, EFA
-1.14% Developed 100 BLDRS, ADRD
-1.15% Value MidCap Dynamic PS, PWP
-1.15% Energy Exploration & Prod, PXE
-1.15% Canada Index, EWC
-1.15% Value SmallCap Russell 2000, IWN
-1.16% Energy DJ, IYE
-1.16% Mexico Index, EWW
-1.18% Dividend Achievers PS, PFM
-1.19% Global 100, IOO
-1.19% Software, PSJ
-1.19% Semiconductor H, SMH
-1.20% Value SmallCap VIPERS, VBR
-1.21% United Kingdom Index, EWU
-1.21% Spain Index, EWP
-1.24% Growth MidCap S&P 400, RFG
-1.26% Value EAFE MSCI, EFV
-1.27% Networking, IGN
-1.27% Internet H, HHH
-1.28% Growth SmallCap iS M, JKK
-1.28% Value LargeCap iS M, JKF
-1.29% Broadband H, BDH
-1.30% European VIPERs, VGK
-1.31% SmallCap S&P 600, IJR
-1.31% Networking, PXQ
-1.31% LargeCap Blend Dynamic PS, PWC
-1.32% Value MidCap S&P 400 B, IJJ
-1.33% Semiconductors, PSI
-1.33% LargeCap Blend NYSE Composite iS, NYC
-1.34% South Korea Index, EWY
-1.35% Sweden Index, EWD
-1.36% Lg Cap Growth PSD, PWB
-1.36% Value LargeCap Russell 3000, IWW
-1.36% Telecom DJ US, IYZ
-1.37% Growth Small Cap DJ, DSG
-1.37% Small Cap VIPERs, VB
-1.39% Growth Mid Cap Dynamic PS, PWJ
-1.39% Dividend International, PID
-1.41% Value LargeCap NYSE 100 iS, NY
-1.41% Pacific VIPERs, VPL
-1.41% Growth SmallCap R 2000, IWO
-1.41% LargeCap Blend Core iS M, JKD
-1.42% OTC Dynamic PS, PWO
-1.42% SmallCap Russell 2000, IWM
-1.44% Value Large Cap DJ, ELV
-1.45% South Africa Index, EZA
-1.45% Natural Resource iS GS, IGE
-1.47% Growth BARRA Small Cap 600, IJT
-1.48% Energy SPDR, XLE
-1.49% Semiconductor SPDR, XSD
-1.49% MidCap S&P 400 iS, IJH
-1.49% Technology Global, IXN
-1.50% LargeCap Blend Socially Responsible iS, KLD
-1.50% Value 40 Large Low P/E FT DB, FDV
-1.51% MidCap Growth iS M, JKH
-1.52% Telecom H, TTH
-1.53% Value 1000 Russell, IWD
-1.53% Telecom Services VIPERs, VOX
-1.53% LargeCap VIPERs, VV
-1.53% Latin Am 40, ILF
-1.54% Value VIPERs, VTV
-1.55% Technology MS sT, MTK
-1.58% IPOs, First Tr IPOX-100, FPX
-1.59% LargeCap 1000 R, IWB
-1.59% Belgium Index, EWK
-1.59% Semiconductor iS GS, IGW
-1.60% LargeCap Rydex Rus Top 50, XLG
-1.60% Extended Mkt VIPERs, VXF
-1.61% LargeCap Blend Russell 3000, IWV
-1.61% MidCap S&P 400 SPDRs, MDY
-1.61% Value MidCap S&P 400, RFV
-1.61% LargeCap Blend Total Market DJ, IYY
-1.63% MidCap Russell, IWR
-1.63% LargeCap Blend S&P 1500 iS, ISI
-1.64% Value MidCap iS M, JKI
-1.64% Growth MidCap Russell, IWP
-1.64% Growth LargeCap Russell 3000, IWZ
-1.64% Dividend DJ Select, DVY
-1.65% LargeCap Blend S&P 100, OEF
-1.65% Growth MidCap 400 B, IJK
-1.65% Growth VIPERs, VUG
-1.65% MidCap VIPERs, VO
-1.66% S&P 500 iS LargeCap Blend, IVV
-1.66% Growth S&P 500/BARRA, IVW
-1.67% Growth LargeCap iS M, JKE
-1.68% Growth Large Cap, ELG
-1.68% Dividend Growth PS, PHJ
-1.68% Blend Total Market VIPERs, VTI
-1.68% Wilshire 5000 ST TM, TMW
-1.69% Value LargeCap Fundamental RAFI 1000, PRF
-1.69% Industrial SPDR, XLI
-1.69% S&P 500 SPDRs LargeCap Blend, SPY
-1.69% Value S&P 500 B, IVE
-1.70% Growth LargeCap NASDAQ Fidelity, ONEQ
-1.70% Industrial LargeCap Blend DJ US, IYJ
-1.70% Growth SmallCap VIPERs, VBK
-1.70% Value MidCap Russell, IWS
-1.71% Brazil Index, EWZ
-1.71% Hardware & Electronics, PHW
-1.73% Dividend Leaders, FDL
-1.73% Leisure & Entertainment, PEJ
-1.74% Consumer Cyclical DJ, IYC
-1.75% Industrials VIPERs, VIS
-1.75% DIAMONDS (DJIA), DIA
-1.76% Asia 50 BLDRS, ADRA
-1.77% Japan LargeCap Blend TOPIX 150, ITF
-1.78% MidCap Blend Core iS M, JKG
-1.78% Japan Index, EWJ
-1.80% Technology DJ US, IYW
-1.80% Growth 1000 Russell, IWF
-1.82% Growth S&P 500, RPG
-1.84% LargeCap Blend S&P=Weight R, RSP
-1.87% Internet Infrastructure H, IIH
-1.88% Info Tech VIPERs, VGT
-1.88% Retail H, RTH
-1.89% Internet B2B H, BHH
-2.02% Consumer D. VIPERs, VCR
-2.04% Technology GS, IGM
-2.05% Biotechnology, IBB
-2.06% Oil Services H, OIH
-2.08% Value Line Timeliness MidCap Gr, PIV
-2.09% WilderHill Clean Energy PS, PBW
-2.10% Bank Regional H, RKH
-2.10% Biotech & Genome, PBE
-2.13% Consumer Discretionary SPDR, XLY
-2.13% Value S&P 500, RPV
-2.16% Financials Global LargeCap Value, IXG
-2.17% Real Estate US DJ, IYR
-2.18% Internet Architecture H, IAH
-2.20% Metals & Mining SPDR, XME
-2.21% Growth LargeCap NASDAQ 100, QQQQ
-2.34% Financials VIPERs, VFH
-2.40% Aerospace & Defense, PPA
-2.41% REIT VIPERs, VNQ
-2.41% Financial DJ US, IYF
-2.48% Transportation Av DJ, IYT
-2.51% Biotech SPDR, XBI
-2.55% Financial SPDR, XLF
-2.55% Retail, PMR
-2.56% REIT Wilshire, RWR
-2.63% Technology SPDR, XLK
-2.68% Basic Materials DJ US, IYM
-2.73% Materials VIPERs, VAW
-2.74% Realty Cohen & Steers, ICF
-2.76% Financial Services DJ, IYG
-2.93% Materials SPDR, XLB
-3.09% Capital Markets KWB ST, KCE
-3.34% Ultra MidCap400 Double, MVV
-3.42% Ultra S&P500 Double, SSO
-3.61% Ultra Dow30 Double, DDM
-3.71% Biotech H, BBH
-4.11% Ultra QQQ Double, QLD
-5.41% Homebuilders SPDR, XHB
