By Robert W. Colby, Senior Analyst TraderPlanet.com

Stocks: DJIA and S&P 500 both broke down to new 6-week lows, thereby confirming a downward correction.

MACD Histogram is negative and falling, meaning that stock market momentum is Bearish and growing more Bearish.

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

Crude Oil July futures contract broke down below previous 11-day lows, thereby confirming a downward correction.


On Tuesday, major stock price indexes opened modestly higher and held fairly steady through the morning. Stocks fell steeply into the red between 12:02 and 2:26 p.m. before recovering a fraction of that loss in late trading. The S&P 500 closed at 1,377.65, down 8.02 points or 0.58%. Total NYSE volume rose 18%, confirming the price downtrend. The volume of advancing stocks minus the volume of declining stocks was net -22% of the volume of changed stocks.

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
1.25% , RFV , Value MidCap S&P 400, RFV
8.09% , LVLT , LEVEL 3 COMMUNICATIONS
4.13% , TGT , TARGET
4.08% , LUV , SOUTHWEST AIRLS
3.51% , NSM , NATL SEMICONDUCT
4.55% , GRMN , GARMIN LTD
0.74% , EWU , United Kingdom Index, EWU
5.52% , SNDK , SanDisk Corporation
3.57% , MON , MONSANTO
4.91% , MCO , MOODYS CORP
1.65% , ACS , AFFILIATED COMPUTER
5.59% , KBH , KB HOME
2.37% , XHB , Homebuilders SPDR, XHB
2.73% , X , US STEEL CORP
5.02% , DHI , D.R. HORTON, DHI
2.21% , BSX , BOSTON SCIENT
2.54% , DHR , DANAHER
2.86% , FAST , Fastenal Company
2.73% , EQR , EQUITY RESIDENT BEN INT
3.26% , LEN , Lennar Corp. (LEN)
2.21% , MDT , MEDTRONIC
3.93% , MTG , MGIC INVESTMENT
0.39% , PHJ , Dividend Growth PS, PHJ
2.40% , HAS , HASBRO
2.64% , TDC , Teradata Corporation, TDC
1.43% , MHS , MEDCO HEALTH
2.86% , XMSR , XM Satellite R
3.63% , BC , BRUNSWICK
6.42% , RYAAY , Ryanair Holdings plc
4.02% , PHM , PULTE HOMES
1.91% , FDO , FAMILY DLR STRS
2.51% , SUN , SUNOCO
0.53% , IEF , Bond, 10 Year Treasury, IEF
0.42% , STT , STATE STREET
1.03% , CHKP , Check Point Software Technologies Ltd
1.69% , CPWR , COMPUWARE
0.92% , SCHW.O , CHARLES SCHWAB
1.43% , CVS , CVS
2.45% , JBL , JABIL CIRCUIT
1.01% , ORCL , ORACLE

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol , Name
-0.85% , EWK , Belgium Index, EWK
-9.52% , LEH , LEHMAN BROS HLDG
-0.79% , EWD , Sweden Index, EWD
-6.65% , GR , GOODRICH CORP
-6.27% , EK , EASTMAN KODAK
-4.38% , CSX , CSX
-2.08% , SHW , SHERWIN WILLIAMS
-3.32% , RHT , Red Hat Inc.
-3.73% , BA , BOEING
-0.78% , PEJ , Leisure & Entertainment, PEJ
-3.30% , OMX , OFFICEMAX INC., OMX
-2.44% , GNTX , Gentex Corporation
-3.06% , GT , GOODYEAR TIRE
-0.70% , EWG , Germany Index, EWG
-2.58% , DISH , EchoStar Communications Corporation
-0.78% , IXP , Telecommunications Global, IXP
-6.32% , WB , WACHOVIA
-2.80% , BF.B , BROWN FORMAN STK B
-2.24% , MCHP , Microchip Technology Incorporated
-1.57% , COL , ROCKWELL COLLINS
-1.25% , ZION , ZIONS
-2.70% , LLL , L-3 COMMS HLDGS
-3.88% , MBI , MBIA
-1.41% , IGW , Semiconductor iS GS, IGW
-2.29% , EWA , Australia Index, EWA
-4.30% , VMC , VULCAN MATERIALS
-2.38% , ETR , ENTERGY
-0.87% , IXG , Financials Global LargeCap Value, IXG
-0.97% , EWI , Italy Index, EWI
-0.99% , EWY , South Korea Index, EWY
-1.73% , PPG , PPG INDUSTRIES
-1.46% , EWC , Canada Index, EWC
-2.57% , AMAT , APPLIED MATERIAL
-2.18% , HBAN , HUNTINGTON
-1.43% , XEL , XCEL ENERGY
-0.74% , ELV , Value Large Cap DJ, ELV
-1.08% , SMH , Semiconductor H, SMH
-2.60% , SEE , SEALED AIR
-2.78% , WM , WASHINGTON MUT
-0.49% , IWB , LargeCap 1000 R, IWB

Sectors: among the 9 major U.S. sectors, 4 rose and 5 fell.
Major Sectors Ranked for the Day
% Price Change Sector

0.66% Health Care SPDR, XLV
0.53% Consumer Staples SPDR, XLP
0.13% Consumer Discretionary SPDR, XLY
0.11% Materials SPDR, XLB
-0.33% Financial SPDR, XLF
-0.34% Industrial SPDR, XLI
-0.56% Technology SPDR, XLK
-0.88% Utilities SPDR, XLU
-2.15% Energy SPDR, XLE

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.

Consumer Staples (XLP) Neutral, Market Weight. Since 5/6/07, the XLP/SPY Relative Strength Ratio has outperformed. In addition, since 6/19/07, the XLP/SPY Relative Strength Ratio has outperformed.

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.

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 6/3/08. 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 broke down below previous 11-day lows, thereby confirming a correction. 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 retraced previous 2-day gains. 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 moved above previous 4-day highs, but that was not enough. 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 moved above previous 11-day highs. 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 20.24. 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 23.89. 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 0.80, 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 1.10, 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 (1,377.65):

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 (1,377.65):

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:

5.36% Internet B2B H, BHH
2.37% Homebuilders SPDR, XHB
1.59% Short 200% Dow 30 PS, DXD
1.44% Short 200% QQQ PS, QID
1.34% Global Titans, DGT
1.25% Value MidCap S&P 400, RFV
1.20% Short 200% S&P 500 PS, SDS
0.77% Internet Architecture H, IAH
0.74% United Kingdom Index, EWU
0.72% Bond, 20+ Years Treasury, TLT
0.70% Retail H, RTH
0.68% REIT Wilshire, RWR
0.67% Realty Cohen & Steers, ICF
0.66% Health Care SPDR, XLV
0.66% REIT VIPERs, VNQ
0.65% Short 100% QQQ, PSQ
0.63% Short 100% Dow 30, DOG
0.62% Growth SmallCap Dynamic PS, PWT
0.53% Short 100% S&P 500, SH
0.53% Consumer Staples SPDR, XLP
0.53% Bond, 10 Year Treasury, IEF
0.45% WilderHill Clean Energy PS, PBW
0.41% Internet H, HHH
0.39% Dividend Growth PS, PHJ
0.39% Bond, Corp, LQD
0.32% Health Care VIPERs, VHT
0.29% Value Small Cap DJ, DSV
0.28% Growth MidCap S&P 400, RFG
0.26% Ultra MidCap400 Double, MVV
0.25% Hardware & Electronics, PHW
0.25% Consumer Cyclical DJ, IYC
0.24% MidCap S&P 400 SPDRs, MDY
0.19% Bond, Aggregate, AGG
0.17% Growth MidCap 400 B, IJK
0.16% Healthcare DJ, IYH
0.14% Bond, 1-3 Year Treasury, SHY
0.14% Value MidCap S&P 400 B, IJJ
0.13% Consumer Discretionary SPDR, XLY
0.11% Materials SPDR, XLB
0.07% Real Estate US DJ, IYR
0.07% Pharmaceutical H, PPH
0.07% Basic Materials DJ US, IYM
0.06% Materials VIPERs, VAW
0.04% Software, IGV
0.03% Value SmallCap S&P 600, RZV
0.00% Bond, TIPS, TIP
0.00% OTC Dynamic PS, PWO
-0.01% Utilities, PUI
-0.02% Consumer D. VIPERs, VCR
-0.02% Japan LargeCap Blend TOPIX 150, ITF
-0.03% Telecommunications & Wireless, PTE
-0.06% Networking, PXQ
-0.07% Japan Index, EWJ
-0.10% Internet Infrastructure H, IIH
-0.11% MidCap Blend Core iS M, JKG
-0.11% Dividend Achievers PS, PFM
-0.12% Info Tech VIPERs, VGT
-0.12% IPOs, First Tr IPOX-100, FPX
-0.12% Insurance, PIC
-0.12% Value SmallCap VIPERS, VBR
-0.13% Europe 100 BLDRS, ADRU
-0.14% MidCap S&P 400 iS, IJH
-0.14% Value MidCap Dynamic PS, PWP
-0.14% Micro Cap Zachs, PZI
-0.14% Consumer Staples VIPERs, VDC
-0.15% Value SmallCap iS M, JKL
-0.16% Short 100% MidCap 400, MYY
-0.16% Growth EAFE MSCI, EFG
-0.16% Wilshire 5000 ST TM, TMW
-0.16% Building & Construction, PKB
-0.17% Extended Mkt VIPERs, VXF
-0.17% Value Line Timeliness MidCap Gr, PIV
-0.18% Growth LargeCap Russell 3000, IWZ
-0.18% SmallCap PS Zacks, PZJ
-0.18% Dividend Appreciation Vipers, VIG
-0.18% MidCap Growth iS M, JKH
-0.19% Transportation Av DJ, IYT
-0.19% Value SmallCap Dynamic PS, PWY
-0.20% Technology MS sT, MTK
-0.20% Biotech SPDR, XBI
-0.20% SmallCap Russell 2000, IWM
-0.20% Healthcare Global, IXJ
-0.21% Technology GS, IGM
-0.21% EAFE Index, EFA
-0.21% Software, PSJ
-0.22% SmallCap Core iS M, JKJ
-0.22% Growth Small Cap DJ, DSG
-0.22% Technology Global, IXN
-0.22% Lg Cap Growth PSD, PWB
-0.25% SmallCap S&P 600, IJR
-0.25% LargeCap Blend Core iS M, JKD
-0.25% Growth S&P 500, RPG
-0.25% Small Cap VIPERs, VB
-0.26% Growth Large Cap, ELG
-0.27% Growth 1000 Russell, IWF
-0.27% France Index, EWQ
-0.28% Value MidCap Russell, IWS
-0.28% Spain Index, EWP
-0.30% Europe 350 S&P Index, IEV
-0.30% Growth SmallCap R 2000, IWO
-0.30% Short 200% MidCap 400 PS, MZZ
-0.30% Growth VIPERs, VUG
-0.32% Growth BARRA Small Cap 600, IJT
-0.32% Value SmallCap S&P 600 B, IJS
-0.33% Financial SPDR, XLF
-0.33% Silver Trust iS, SLV
-0.33% Growth LargeCap iS M, JKE
-0.34% Industrial SPDR, XLI
-0.34% Microcap Russell, IWC
-0.34% Value MidCap iS M, JKI
-0.35% LargeCap Blend S&P=Weight R, RSP
-0.35% European VIPERs, VGK
-0.36% Dividend International, PID
-0.36% LargeCap Blend Socially Responsible iS, KLD
-0.37% Developed 100 BLDRS, ADRD
-0.37% MidCap VIPERs, VO
-0.40% MidCap Russell, IWR
-0.40% Growth MidCap Russell, IWP
-0.41% LargeCap Blend Total Market DJ, IYY
-0.42% Consumer Non-Cyclical, IYK
-0.42% Pharmaceuticals, PJP
-0.42% Value LargeCap Fundamental RAFI 1000, PRF
-0.43% Value S&P 500, RPV
-0.43% Value EAFE MSCI, EFV
-0.44% Growth SmallCap VIPERs, VBK
-0.44% Netherlands Index, EWN
-0.44% Networking, IGN
-0.44% Biotechnology, IBB
-0.45% LargeCap Blend S&P 1500 iS, ISI
-0.45% Biotech H, BBH
-0.46% Technology DJ US, IYW
-0.46% Pacific VIPERs, VPL
-0.47% Nanotech Lux, PXN
-0.47% Retail, PMR
-0.48% Growth LargeCap NASDAQ Fidelity, ONEQ
-0.49% LargeCap 1000 R, IWB
-0.49% LargeCap Blend Russell 3000, IWV
-0.51% S&P 500 iS LargeCap Blend, IVV
-0.51% Semiconductor SPDR, XSD
-0.52% EMU Europe Index, EZU
-0.52% Euro STOXX 50, FEZ
-0.52% Value LargeCap Dynamic PS, PWV
-0.53% Industrials VIPERs, VIS
-0.54% Blend Total Market VIPERs, VTI
-0.54% Utilities VIPERs, VPU
-0.55% Growth LargeCap NASDAQ 100, QQQQ
-0.55% Value LargeCap Euro STOXX 50 DJ, FEU
-0.56% Industrial LargeCap Blend DJ US, IYJ
-0.56% Global 100, IOO
-0.56% Technology SPDR, XLK
-0.56% Software H, SWH
-0.57% Financial DJ US, IYF
-0.58% S&P 500 SPDRs LargeCap Blend, SPY
-0.59% Financials VIPERs, VFH
-0.59% Growth S&P 500/BARRA, IVW
-0.60% Growth Mid Cap Dynamic PS, PWJ
-0.60% Food & Beverage, PBJ
-0.60% Utilities DJ, IDU
-0.60% Value SmallCap Russell 2000, IWN
-0.61% LargeCap VIPERs, VV
-0.61% Growth SmallCap iS M, JKK
-0.61% Switzerland Index, EWL
-0.61% Value LargeCap NYSE 100 iS, NY
-0.62% Value VIPERs, VTV
-0.62% LargeCap Blend NYSE Composite iS, NYC
-0.62% Value LargeCap Russell 3000, IWW
-0.62% Value 40 Large Low P/E FT DB, FDV
-0.63% LargeCap Blend S&P 100, OEF
-0.64% Telecom DJ US, IYZ
-0.66% Utilities H, UTH
-0.66% Dividend DJ Select, DVY
-0.67% LargeCap Blend Dynamic PS, PWC
-0.68% Value S&P 500 B, IVE
-0.70% Germany Index, EWG
-0.71% Ultra S&P500 Double, SSO
-0.74% Value Large Cap DJ, ELV
-0.74% Telecom Services VIPERs, VOX
-0.75% Value 1000 Russell, IWD
-0.75% Dividend High Yield Equity PS, PEY
-0.76% Semiconductors, PSI
-0.77% LargeCap Rydex Rus Top 50, XLG
-0.78% Telecommunications Global, IXP
-0.78% Leisure & Entertainment, PEJ
-0.79% Sweden Index, EWD
-0.81% Capital Markets KWB ST, KCE
-0.85% Belgium Index, EWK
-0.87% Financials Global LargeCap Value, IXG
-0.88% Utilities SPDR, XLU
-0.88% Dividend SPDR, SDY
-0.89% Metals & Mining SPDR, XME
-0.91% Value LargeCap iS M, JKF
-0.96% Malaysia Index, EWM
-0.96% DIAMONDS (DJIA), DIA
-0.97% Asia 50 BLDRS, ADRA
-0.97% Italy Index, EWI
-0.98% Dividend Leaders, FDL
-0.99% South Korea Index, EWY
-0.99% Hong Kong Index, EWH
-1.00% Financial Services DJ, IYG
-1.01% Biotech & Genome, PBE
-1.06% Broadband H, BDH
-1.06% Pacific ex-Japan, EPP
-1.07% Energy Exploration & Prod, PXE
-1.08% Semiconductor H, SMH
-1.09% Telecom H, TTH
-1.09% Austria Index, EWO
-1.11% Mexico Index, EWW
-1.18% Aerospace & Defense, PPA
-1.22% Oil & Gas, PXJ
-1.22% Ultra QQQ Double, QLD
-1.23% Gold Shares S.T., GLD
-1.28% Bank Regional H, RKH
-1.29% Water Resources, PHO
-1.32% South Africa Index, EZA
-1.34% Energy Global, IXC
-1.41% Semiconductor iS GS, IGW
-1.42% Energy VIPERs, VDE
-1.42% Natural Resource iS GS, IGE
-1.46% Canada Index, EWC
-1.48% Singapore Index, EWS
-1.54% Ultra Dow30 Double, DDM
-1.73% Emerging VIPERs, VWO
-1.81% Emerging Markets, EEM
-1.85% Energy DJ, IYE
-2.15% Energy SPDR, XLE
-2.17% Latin Am 40, ILF
-2.29% Australia Index, EWA
-2.33% Oil, Crude, U.S. Oil Fund, USO
-2.36% Commodity Tracking, DBC
-2.44% Emerging 50 BLDRS, ADRE
-2.51% Taiwan Index, EWT
-2.53% China LargeCap Growth G D H USX PS, PGJ
-2.61% Oil Services H, OIH
-2.88% Brazil Index, EWZ
-3.72% China 25 iS, FXI