By Robert W. Colby, Senior Analyst TraderPlanet.com

Stock price indexes broke down below the lows of the previous 2 trading days.
MACD Histogram is negative and falling, meaning that stock market momentum is Bearish and growing more Bearish.

Financial Stock Sector Relative Strength Ratio fell to its lowest level in more than 7 years.

Growth Stock/Value Stock Relative Strength Ratio rose to another new 3-year high

On Monday, major stock price indexes opened lower and continued to decline to a low at 12:41 p.m. Prices turned choppy in the afternoon. In the final hour, the stock market recovered a fraction of the early loss. The S&P 500 closed at 1,385.67, down 14.71 or 1.05%. Total NYSE volume fell 3%. The volume of advancing stocks minus the volume of declining stocks was net -52% of the volume of changed stocks.

The Financial Stock Sector led the way lower as Standard & Poor’s downgraded financial company debt ratings, citing prospects for continued weakness in investment banking and further write-offs.

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. The sum total weight of the evidence for the stock market in general appears to be taking on a more Bearish tilt again this week. The short-term action has been subject to rapid change, and 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

2.29% , PXE , Energy Exploration & Prod, PXE
1.79% , PGR , PROGRESSIVE OHIO
2.37% , XME , Metals & Mining SPDR, XME
0.49% , VDE , Energy VIPERs, VDE
1.99% , GM , GENERAL MOTORS
0.77% , EWL , Switzerland Index, EWL
0.97% , SH , Short 100% S&P 500, SH
1.79% , DXD , Short 200% Dow 30 PS, DXD
2.14% , SDS , Short 200% S&P 500 PS, SDS
6.68% , SUN , SUNOCO
1.77% , TE , TECO ENERGY
1.53% , THC , TENET HEALTHCARE
0.96% , DOG , Short 100% Dow 30, DOG
0.52% , FXI , China 25 iS, FXI
1.33% , DBC , Commodity Tracking, DBC
1.19% , PSQ , Short 100% QQQ, PSQ
1.67% , MZZ , Short 200% MidCap 400 PS, MZZ
2.03% , QID , Short 200% QQQ PS, QID
0.42% , IGE , Natural Resource iS GS, IGE
0.66% , AZO , AUTOZONE
0.50% , ADRA , Asia 50 BLDRS, ADRA
0.56% , ITF , Japan LargeCap Blend TOPIX 150, ITF
1.79% , EP , EL PASO
1.31% , LH , LAB CRP OF AMER
0.19% , IYM , Basic Materials DJ US, IYM
0.96% , PMTC.O , PARAMETRIC
3.95% , GRMN , GARMIN LTD
1.54% , HANS , Hansen Natural, HANS
4.01% , VLO , VALERO ENERGY
0.56% , BUD , ANHEUSER BUSCH
0.25% , LOW , LOWES
1.61% , MU , MICRON TECH
0.25% , WAG , WALGREEN
0.90% , MON , MONSANTO
0.50% , NEM , NEWMONT MINING
0.55% , ESRX , EXPRESS SCRIPTS
0.98% , MDP , MEREDITH
0.15% , ABC , AMERISOURCEBERGN
1.14% , CFC , COUNTRYWIDE FNCL
0.58% , GLD , Gold Shares S.T., GLD

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

-2.28% , BDH , Broadband H, BDH
-1.90% , PHW , Hardware & Electronics, PHW
-1.27% , RPG , Growth S&P 500, RPG
-1.70% , HHH , Internet H, HHH
-8.10% , LEH , LEHMAN BROS HLDG
-1.73% , SWH , Software H, SWH
-1.58% , PXQ , Networking, PXQ
-0.78% , IWC , Microcap Russell, IWC
-6.67% , BHH , Internet B2B H, BHH
-0.84% , NY , Value LargeCap NYSE 100 iS, NY
-1.41% , EWN , Netherlands Index, EWN
-2.42% , EWP , Spain Index, EWP
-1.97% , IAH , Internet Architecture H, IAH
-2.28% , KCE , Capital Markets KWB ST, KCE
-0.85% , KLD , LargeCap Blend Socially Responsible iS, KLD
-1.52% , EWG , Germany Index, EWG
-1.30% , PSI , Semiconductors, PSI
-1.64% , IXG , Financials Global LargeCap Value, IXG
-1.68% , WB , WACHOVIA
-3.72% , RYAAY , Ryanair Holdings plc
-1.59% , IGV , Software, IGV
-2.97% , RF , REGIONS FINAN
-1.12% , ONEQ , Growth LargeCap NASDAQ Fidelity, ONEQ
-1.74% , MVV , Ultra MidCap400 Double, MVV
-2.56% , ROK , ROCKWELL AUTOMAT
-1.77% , TBH , Telebras HOLDRS, TBH*
-2.91% , EZA , South Africa Index, EZA
-1.37% , FEZ , Euro STOXX 50, FEZ
-2.58% , IGT , INTL GAME TECH
-2.05% , PBW , WilderHill Clean Energy PS, PBW
-0.86% , IYY , LargeCap Blend Total Market DJ, IYY
-1.48% , RWR , REIT Wilshire, RWR
-1.86% , PHJ , Dividend Growth PS, PHJ
-1.55% , EWH , Hong Kong Index, EWH
-0.83% , IYH , Healthcare DJ, IYH
-3.11% , WHR , WHIRLPOOL
-1.21% , PPH , Pharmaceutical H, PPH
-2.96% , MER , MERRILL LYNCH
-4.22% , BK , BANK OF NEW YORK
-4.21% , HOT , STARWOOD HOTELS

Sectors: among the 9 major U.S. sectors, 1 rose and 8 fell.
Major Sectors Ranked for the Day
% Price Change Sector

0.59% Energy SPDR, XLE
-0.73% Utilities SPDR, XLU
-0.76% Materials SPDR, XLB
-0.85% Industrial SPDR, XLI
-0.88% Consumer Staples SPDR, XLP
-0.99% Consumer Discretionary SPDR, XLY
-1.18% Health Care SPDR, XLV
-1.42% Technology SPDR, XLK
-1.49% Financial SPDR, XLF

Primary Tide Trends for the 9 major sectors last for years. Here are my up-to-date Relative Strength Rankings, as measured with emphasis on these long-term Primary Tide Trends (listed in order of long-term relative strength):

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 5/20/08, XLB/SPY Relative Strength Ratio rose to another new all-time high. On 5/16/08, XLB price 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. The XLU/SPY Relative Strength Ratio rose to a new 4-month high on 5/22/08. 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.

Technology (XLK) Neutral, Market Weight. On 5/30/08, the XLK/SPY Relative Strength Ratio rose to a new 5-month high, confirming an improving intermediate-term trend.

Consumer Staples (XLP) Neutral, Market Weight. Since 3/28/08, the XLP/SPY Relative Strength Ratio has underperformed moderately.

Industrial (XLI) Neutral, Market Weight. Since 3/31/08, the XLI/SPY Relative Strength Ratio has underperformed moderately.

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.

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.

Financial (XLF) Bearish, Underweight. On 6/2/08, 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 Relative Strength Ratio rose to a new 5-month high on 5/23/08. 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 outperformed since 3/3/08. Longer term, the relative trends in larger time frames appear unclear, because the NASDAQ underperformed from 11/7/07 to 3/3/08, when the Relative Strength Ratio fell to a new 9-month low, thereby confirming downtrends in larger time frames.

Growth Stock/Value Stock Relative Strength Ratio rose to another new 3-year high on 6/2/08. 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 outperformed since 3/10/08. Therefore, the intermediate-term trend has been confirmed as Bullish for Small Caps. But still, the Relative Strength Ratio is down since the peak on 4/19/06, so the long-term trend appears less clear.

Crude Oil July futures contract continued to consolidate last week’s losses. On 5/28/08, I noted that Crude Oil has been quite overbought, so a consolidation or correction would come as no surprise. 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 continued to consolidate last week’s losses. On 5/29/08, I noted that Gold broke down below the lows of the previous 8 trading days, and that Gold’s trend turned Bearish, for both short-term and intermediate-term time frames.

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 underperformed Gold since 10/31/07. Longer-term, GDX significantly underperformed Gold since 10/31/07. Therefore, GDX trends are Bearish relative to Gold itself.

U.S. Treasury Bond June futures contract continued to consolidate last week’s losses. On 5/28/08, I noted that Bonds broke down below previous 7-month price lows. That marked a significant Bearish trend change for Bonds. So, I suggested that traders in all timeframes ought to consider selling bonds.

The U.S. dollar continued to consolidate last week’s gains. On 5/29/08, the dollar broke out above the highs of the previous 7 trading days. The day-to-day trend appears to have improved for the very short-term, but the long-term Primary Tide trend is still Bearish.

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 37.9% Bulls versus 32.2% Bears as of 5/28/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio fell to 1.18, down from 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” is now at 19.83. VIX fell from a peak of 32.64 on 3/17/08 to a low of 16.30 on 5/15/08, indicating decreasing Fear. 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” is now at 22.88. VXN fell from a peak of 35.63 on 1/22/08 to a low of 20.00 on 5/16/08, indicating decreasing Fear. 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 0.76, which indicates rising 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 1.11, which indicates 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 weakened.

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. On both 5/19/08 and 5/30/08, the Transports tested their all-time high and failed to make a new high. Meanwhile, the Industrials languished far below their highs. Following such failure to advance, a downside test should follow. 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 (1,385.67):

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

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 (1,385.67):

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:

2.37% Metals & Mining SPDR, XME
2.29% Energy Exploration & Prod, PXE
2.14% Short 200% S&P 500 PS, SDS
2.03% Short 200% QQQ PS, QID
1.79% Short 200% Dow 30 PS, DXD
1.67% Short 200% MidCap 400 PS, MZZ
1.33% Commodity Tracking, DBC
1.23% Biotech H, BBH
1.19% Short 100% QQQ, PSQ
0.97% Short 100% S&P 500, SH
0.96% Short 100% Dow 30, DOG
0.82% Short 100% MidCap 400, MYY
0.77% Switzerland Index, EWL
0.59% Energy SPDR, XLE
0.58% Gold Shares S.T., GLD
0.56% Japan LargeCap Blend TOPIX 150, ITF
0.52% China 25 iS, FXI
0.50% Asia 50 BLDRS, ADRA
0.49% Taiwan Index, EWT
0.49% Energy VIPERs, VDE
0.45% Energy DJ, IYE
0.42% Natural Resource iS GS, IGE
0.24% Bond, 10 Year Treasury, IEF
0.22% Japan Index, EWJ
0.19% Basic Materials DJ US, IYM
0.02% Bond, 20+ Years Treasury, TLT
-0.01% Oil, Crude, U.S. Oil Fund, USO
-0.02% Bond, Aggregate, AGG
-0.07% Bond, 1-3 Year Treasury, SHY
-0.12% Value Line Timeliness MidCap Gr, PIV
-0.12% Bond, Corp, LQD
-0.19% Silver Trust iS, SLV
-0.24% Pacific VIPERs, VPL
-0.28% Healthcare Global, IXJ
-0.29% Canada Index, EWC
-0.31% Semiconductor H, SMH
-0.32% Insurance, PIC
-0.37% Oil & Gas, PXJ
-0.38% Energy Global, IXC
-0.40% Oil Services H, OIH
-0.41% Value SmallCap Russell 2000, IWN
-0.44% Bond, TIPS, TIP
-0.46% MidCap Blend Core iS M, JKG
-0.46% Austria Index, EWO
-0.54% Food & Beverage, PBJ
-0.54% Value SmallCap S&P 600 B, IJS
-0.55% Building & Construction, PKB
-0.55% Materials VIPERs, VAW
-0.55% Extended Mkt VIPERs, VXF
-0.56% Value SmallCap iS M, JKL
-0.56% Emerging VIPERs, VWO
-0.57% Small Cap VIPERs, VB
-0.59% MidCap VIPERs, VO
-0.60% Value MidCap S&P 400 B, IJJ
-0.60% Growth Small Cap DJ, DSG
-0.61% Growth BARRA Small Cap 600, IJT
-0.62% Consumer Staples VIPERs, VDC
-0.62% Growth SmallCap VIPERs, VBK
-0.63% SmallCap S&P 600, IJR
-0.64% Emerging 50 BLDRS, ADRE
-0.67% Growth SmallCap iS M, JKK
-0.67% IPOs, First Tr IPOX-100, FPX
-0.68% Utilities DJ, IDU
-0.68% Growth MidCap 400 B, IJK
-0.68% Utilities VIPERs, VPU
-0.70% SmallCap PS Zacks, PZJ
-0.71% MidCap Russell, IWR
-0.72% Value LargeCap Dynamic PS, PWV
-0.72% Growth EAFE MSCI, EFG
-0.73% Utilities SPDR, XLU
-0.73% Value LargeCap Russell 3000, IWW
-0.73% Dividend Appreciation Vipers, VIG
-0.74% MidCap Growth iS M, JKH
-0.75% Homebuilders SPDR, XHB
-0.75% Growth VIPERs, VUG
-0.76% Growth 1000 Russell, IWF
-0.76% LargeCap Blend Russell 3000, IWV
-0.76% MidCap S&P 400 iS, IJH
-0.76% Materials SPDR, XLB
-0.77% SmallCap Core iS M, JKJ
-0.77% Value MidCap iS M, JKI
-0.77% DIAMONDS (DJIA), DIA
-0.78% Microcap Russell, IWC
-0.78% Value MidCap Dynamic PS, PWP
-0.79% Consumer Non-Cyclical, IYK
-0.80% Blend Total Market VIPERs, VTI
-0.81% Value MidCap Russell, IWS
-0.81% Growth S&P 500/BARRA, IVW
-0.81% LargeCap Blend S&P 1500 iS, ISI
-0.81% Growth MidCap Russell, IWP
-0.82% Brazil Index, EWZ
-0.83% Lg Cap Growth PSD, PWB
-0.83% Healthcare DJ, IYH
-0.84% Value LargeCap NYSE 100 iS, NY
-0.84% Water Resources, PHO
-0.84% LargeCap Blend Dynamic PS, PWC
-0.85% Growth Large Cap, ELG
-0.85% LargeCap 1000 R, IWB
-0.85% Industrial SPDR, XLI
-0.85% Utilities H, UTH
-0.85% Growth SmallCap R 2000, IWO
-0.85% LargeCap Blend Socially Responsible iS, KLD
-0.86% LargeCap Blend Total Market DJ, IYY
-0.86% Value LargeCap iS M, JKF
-0.87% LargeCap Blend Core iS M, JKD
-0.87% Value SmallCap Dynamic PS, PWY
-0.87% Growth LargeCap Russell 3000, IWZ
-0.88% Consumer Staples SPDR, XLP
-0.88% Industrials VIPERs, VIS
-0.89% Latin Am 40, ILF
-0.90% Value VIPERs, VTV
-0.90% Growth LargeCap iS M, JKE
-0.90% Health Care VIPERs, VHT
-0.90% LargeCap VIPERs, VV
-0.90% Value 1000 Russell, IWD
-0.91% Value Large Cap DJ, ELV
-0.91% SmallCap Russell 2000, IWM
-0.93% Value LargeCap Fundamental RAFI 1000, PRF
-0.94% Consumer Cyclical DJ, IYC
-0.94% LargeCap Blend S&P 100, OEF
-0.95% Growth MidCap S&P 400, RFG
-0.95% Industrial LargeCap Blend DJ US, IYJ
-0.96% LargeCap Blend NYSE Composite iS, NYC
-0.96% Nanotech Lux, PXN
-0.97% Telecom Services VIPERs, VOX
-0.98% S&P 500 iS LargeCap Blend, IVV
-0.98% Dividend DJ Select, DVY
-0.99% Consumer Discretionary SPDR, XLY
-1.00% MidCap S&P 400 SPDRs, MDY
-1.00% Global 100, IOO
-1.00% Semiconductor iS GS, IGW
-1.00% Telecom DJ US, IYZ
-1.01% Biotechnology, IBB
-1.02% Wilshire 5000 ST TM, TMW
-1.03% Value S&P 500 B, IVE
-1.03% S&P 500 SPDRs LargeCap Blend, SPY
-1.03% Value LargeCap Euro STOXX 50 DJ, FEU
-1.03% Biotech SPDR, XBI
-1.04% EAFE Index, EFA
-1.04% South Korea Index, EWY
-1.05% Consumer D. VIPERs, VCR
-1.05% China LargeCap Growth G D H USX PS, PGJ
-1.06% Developed 100 BLDRS, ADRD
-1.08% Retail H, RTH
-1.09% Value 40 Large Low P/E FT DB, FDV
-1.10% LargeCap Blend S&P=Weight R, RSP
-1.10% OTC Dynamic PS, PWO
-1.11% Transportation Av DJ, IYT
-1.12% Malaysia Index, EWM
-1.12% Growth LargeCap NASDAQ Fidelity, ONEQ
-1.13% Value SmallCap VIPERS, VBR
-1.13% Utilities, PUI
-1.13% Value S&P 500, RPV
-1.13% Micro Cap Zachs, PZI
-1.15% Telecommunications Global, IXP
-1.16% Retail, PMR
-1.18% LargeCap Rydex Rus Top 50, XLG
-1.18% Growth Mid Cap Dynamic PS, PWJ
-1.18% Health Care SPDR, XLV
-1.19% Dividend High Yield Equity PS, PEY
-1.19% Dividend SPDR, SDY
-1.19% Emerging Markets, EEM
-1.21% Pharmaceutical H, PPH
-1.21% Biotech & Genome, PBE
-1.22% Growth LargeCap NASDAQ 100, QQQQ
-1.23% European VIPERs, VGK
-1.26% Semiconductor SPDR, XSD
-1.27% Technology MS sT, MTK
-1.27% Telecommunications & Wireless, PTE
-1.27% Growth S&P 500, RPG
-1.28% Info Tech VIPERs, VGT
-1.28% Growth SmallCap Dynamic PS, PWT
-1.28% Value Small Cap DJ, DSV
-1.29% Value EAFE MSCI, EFV
-1.30% Semiconductors, PSI
-1.33% Telecom H, TTH
-1.33% Technology GS, IGM
-1.36% Pharmaceuticals, PJP
-1.37% Dividend Achievers PS, PFM
-1.37% Euro STOXX 50, FEZ
-1.38% Singapore Index, EWS
-1.40% Real Estate US DJ, IYR
-1.41% Dividend International, PID
-1.41% Netherlands Index, EWN
-1.42% Technology SPDR, XLK
-1.43% Financials VIPERs, VFH
-1.44% Aerospace & Defense, PPA
-1.44% Mexico Index, EWW
-1.47% Belgium Index, EWK
-1.47% Australia Index, EWA
-1.48% Financial DJ US, IYF
-1.48% Dividend Leaders, FDL
-1.48% REIT Wilshire, RWR
-1.48% Technology DJ US, IYW
-1.49% Europe 350 S&P Index, IEV
-1.49% United Kingdom Index, EWU
-1.49% Financial SPDR, XLF
-1.52% Germany Index, EWG
-1.55% Hong Kong Index, EWH
-1.55% Technology Global, IXN
-1.58% Networking, PXQ
-1.59% Software, IGV
-1.59% Leisure & Entertainment, PEJ
-1.63% Sweden Index, EWD
-1.64% Financials Global LargeCap Value, IXG
-1.65% Bank Regional H, RKH
-1.66% Pacific ex-Japan, EPP
-1.68% REIT VIPERs, VNQ
-1.70% Software, PSJ
-1.70% Internet H, HHH
-1.73% Software H, SWH
-1.74% Ultra MidCap400 Double, MVV
-1.75% Financial Services DJ, IYG
-1.77% EMU Europe Index, EZU
-1.77% Italy Index, EWI
-1.83% Realty Cohen & Steers, ICF
-1.84% France Index, EWQ
-1.86% Europe 100 BLDRS, ADRU
-1.86% Dividend Growth PS, PHJ
-1.90% Hardware & Electronics, PHW
-1.94% Value MidCap S&P 400, RFV
-1.97% Internet Architecture H, IAH
-2.02% Ultra Dow30 Double, DDM
-2.05% WilderHill Clean Energy PS, PBW
-2.11% Internet Infrastructure H, IIH
-2.11% Ultra S&P500 Double, SSO
-2.15% Value SmallCap S&P 600, RZV
-2.24% Ultra QQQ Double, QLD
-2.28% Capital Markets KWB ST, KCE
-2.28% Broadband H, BDH
-2.42% Spain Index, EWP
-2.53% Networking, IGN
-2.91% South Africa Index, EZA
-3.20% Global Titans, DGT
-6.67% Internet B2B H, BHH