by Robert W. Colby, Senior Analyst TraderPlanet.com
Stocks reversed sharply to the downside asCrude Oilsoared to new highs.
Crude Oil jumped to a new all-time high at 137.71 a barrel.
DJIA fell to a new 10-week low.
S&P 500 fell to a new 7-week low.
Financial Stock Sector Relative Strength Ratio again fell to its lowest level in more than 7 years, continuing a major Bearish trend.
Industrial Stock Sector: both price and the XLI/SPY Relative Strength Ratio fell to their lowest levels in 7 weeks.
Growth Stock/Value StockRelative Strength Ratio rose to another new 3-year high.
The Small Cap/Large Cap Relative Strength Ratio rose to another new 9-month high.
On Friday, major stock price indexes opened lower and remained under pressure most of the day, with barely a short-covering rally along the way. The S&P 500 closed below the lows of the previous 7 weeks, ending very near the low of the day, at 1,360.68, down an impressive 43.37 points or 3.09%. The S&P 500 also closed below both 50- and 200-day simple moving averages.
Total NYSE volume rose 11%, thereby confirming the price downturn.
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 past week. The short-term general market action has been subject to rapid and frequent 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
7.91% , USO , Oil, Crude, U.S. Oil Fund, USO
4.77% , NSM , NATL SEMICONDUCT
6.61% , SDS , Short 200% S&P 500 PS, SDS
6.37% , DXD , Short 200% Dow 30 PS, DXD
3.15% , DOG , Short 100% Dow 30, DOG
1.16% , CEPH , Cephalon Inc
3.33% , SH , Short 100% S&P 500, SH
2.02% , MYY , Short 100% MidCap 400, MYY
2.52% , SLV , Silver Trust iS, SLV
2.64% , IAU , Gold COMEX iS, IAU
6.36% , QID , Short 200% QQQ PS, QID
1.54% , XTO , XTO ENERGY INC
1.16% , OXY , OCCIDENTAL
3.02% , GLD , Gold Shares S.T., GLD
1.29% , TLT , Bond, 20+ Years Treasury, TLT
0.14% , CSC , COMPUTER SCIENCE
0.28% , PXE , Energy Exploration & Prod, PXE
0.88% , NEM , NEWMONT MINING
0.39% , EP , EL PASO
1.22% , TIP , Bond, TIPS, TIP
0.56% , AGG , Bond, Aggregate, AGG
0.30% , YHOO , YAHOO
0.47% , HES , AMERADA HESS
0.18% , HAL , HALLIBURTON
0.50% , LQD , Bond, Corp, LQD
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol , Name
-2.61% , XSD , Semiconductor SPDR, XSD
-1.65% , PHW , Hardware & Electronics, PHW
-15.49% , FMCN , Focus Media, FMCN
-12.54% , WM , WASHINGTON MUT
-2.69% , IGM , Technology GS, IGM
-5.57% , IGT , INTL GAME TECH
-3.37% , RSP , LargeCap Blend S&P=Weight R, RSP
-7.48% , NCC , NATIONAL CITY
-11.28% , MTG , MGIC INVESTMENT
-2.70% , IXP , Telecommunications Global, IXP
-6.81% , AIG , AMER INTL GROUP
-3.74% , XLG , LargeCap Rydex Rus Top 50, XLG
-2.84% , VIG ,Dividend Appreciation Vipers, VIG
-2.93% , HHH , Internet H, HHH
-2.61% , NYC , LargeCap Blend NYSE Composite iS, NYC
-2.53% , VBK , Growth SmallCap VIPERs, VBK
-5.22% , IACI , IAC/INTERACTIVCORP
-6.54% , WFC , WELLS FARGO
-4.18% , VNQ , REIT VIPERs, VNQ
-8.48% , MS , MORGAN STANLEY
-2.99% , JKD , LargeCap Blend Core iS M, JKD
-5.37% , BA , BOEING
-3.72% , PMR , Retail, PMR
-4.54% , RWR , REIT Wilshire, RWR
-2.66% , TMW , Wilshire 5000 ST TM, TMW
-1.49% , RPG , Growth S&P 500, RPG
-4.95% , WYNN , Wynn Resorts L
-6.07% , DDM , Ultra Dow30 Double, DDM
-2.32% , PWO , OTC Dynamic PS, PWO
-5.29% , LPX , LOUISIANA PAC
-6.59% , RF , REGIONS FINAN
-4.17% , RPV , Value S&P 500, RPV
-6.24% , HOT , STARWOOD HOTELS
-3.19% , RHI , ROBERT HALF
-6.67% , VLO , VALERO ENERGY
-4.51% , VFH , Financials VIPERs, VFH
-4.23% , UTX , UNITED TECH
-3.01% , EWI , Italy Index, EWI
-3.15% , SDY , Dividend SPDR, SDY
-4.96% , DRI , DARDEN REST
Sectors: among the 9 major U.S. sectors, all 9 fell.
Major Sectors Ranked for the Day
% Price ChangeSector
-1.96% Energy SPDR, XLE
-2.42% Health Care SPDR, XLV
-2.48% Consumer Staples SPDR, XLP
-2.62% Utilities SPDR, XLU
-2.72% Technology SPDR, XLK
-2.94% Materials SPDR, XLB
-3.90% Industrial SPDR, XLI
-4.23% Consumer Discretionary SPDR, XLY
-5.32% 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. Energy underperformed since 5/21/08.
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 6/4/08. 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.
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.
Technology (XLK) Neutral, Market Weight. On 6/6/08, the XLK/SPY Relative Strength Ratio rose to a new 5-month high, confirming an improving intermediate-term trend.
Industrial (XLI) Bearish, Underweight. On 6/6/08, both price and the XLI/SPY Relative Strength Ratio fell to their lowest levels in 7 weeks. Since 3/31/08, the XLI/SPY Relative Strength Ratio has underperformed.
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 6/6/08, 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 rose to a new 5-month closing price high on 6/5/08. It has been outperforming the S&P 500 since 3/3/08.
Growth Stock/Value Stock Relative Strength Ratio rose to another new 3-year high on 6/6/08. 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 rose to a new 9-month high. The major trend appears to be turning to Small Caps.
Crude Oil July futures contract soared 9.92 to 137.71, a new all-time high. Trends are Bullish 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 broke higher to close above previous 5-day highs. The very short-term trend now appears Bullish, although the intermediate-term trend appears no better than neutral.
U.S. Treasury Bond September futures contract price closed above the high of the previous day. Bonds seemed to get a lift from a “flight to safety”.
The U.S. dollar broke down to close below previous 6-day lows. The short-term trend is down, and 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 44.8% Bulls versus 31.1% Bears as of 6/4/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio rose to 1.44, up from 1.18 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 23.56. 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 26.04. 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 moderately 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 1.24, 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 6/5/08, the Transportation Average closed above its previous all-time closing high, while the Industrial Average languished far below its all-time closing high of 14,164.50 set on 10/9/07. Such a non-confirmation and divergence means that the companies that produce the goods are not keeping pace with the companies that deliver the goods, the market is out of balance, and there is no Dow Theory Signal. 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 (1,360.68):
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
1,406.32, high of 5/29/08
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 (1,360.68):
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:
7.91% Oil, Crude, U.S. Oil Fund, USO
6.61% Short 200% S&P 500 PS, SDS
6.37% Short 200% Dow 30 PS, DXD
6.36% Short 200% QQQ PS, QID
5.67% Short 200% MidCap 400 PS, MZZ
3.33% Short 100% S&P 500, SH
3.18% Short 100% QQQ, PSQ
3.15% Short 100% Dow 30, DOG
3.02% Gold Shares S.T., GLD
2.56% Commodity Tracking, DBC
2.52% Silver Trust iS, SLV
2.02% Short 100% MidCap 400, MYY
1.29% Bond, 20+ Years Treasury, TLT
1.22% Bond, TIPS, TIP
0.87% Bond, 10 Year Treasury, IEF
0.56% Bond, Aggregate, AGG
0.50% Bond, Corp, LQD
0.28% Energy Exploration & Prod, PXE
0.13% Bond, 1-3 Year Treasury, SHY
-0.66% Canada Index, EWC
-0.75% Metals & Mining SPDR, XME
-0.76% Natural Resource iS GS, IGE
-0.89% Energy Global, IXC
-0.97% Malaysia Index, EWM
-1.13% Biotech H, BBH
-1.20% Energy VIPERs, VDE
-1.25% Value Line Timeliness MidCap Gr, PIV
-1.32% Oil Services H, OIH
-1.35% Energy DJ, IYE
-1.36% Oil & Gas, PXJ
-1.38% Semiconductor iS GS, IGW
-1.49% Growth S&P 500, RPG
-1.53% Telecommunications & Wireless, PTE
-1.53% Networking, PXQ
-1.60% Pharmaceuticals, PJP
-1.65% Hardware & Electronics, PHW
-1.78% Austria Index, EWO
-1.83% Basic Materials DJ US, IYM
-1.87% Biotech SPDR, XBI
-1.89% Switzerland Index, EWL
-1.96% Energy SPDR, XLE
-1.97% Growth MidCap S&P 400, RFG
-1.99% SmallCap PS Zacks, PZJ
-2.00% Europe 100 BLDRS, ADRU
-2.03% Australia Index, EWA
-2.06% Utilities DJ, IDU
-2.10% Utilities, PUI
-2.11% Internet Architecture H, IAH
-2.13% Utilities H, UTH
-2.14% MidCap Growth iS M, JKH
-2.20% Utilities VIPERs, VPU
-2.22% Nanotech Lux, PXN
-2.26% Semiconductors, PSI
-2.26% Materials VIPERs, VAW
-2.28% LargeCap Blend Dynamic PS, PWC
-2.30% Growth EAFE MSCI, EFG
-2.32% OTC Dynamic PS, PWO
-2.32% IPOs, First Tr IPOX-100, FPX
-2.33% Telecom DJ US, IYZ
-2.34% Software, PSJ
-2.34% Value MidCap Dynamic PS, PWP
-2.35% Telecom H, TTH
-2.35% Germany Index, EWG
-2.36% Global Titans, DGT
-2.36% Developed 100 BLDRS, ADRD
-2.37% Micro Cap Zachs, PZI
-2.38% Healthcare DJ, IYH
-2.38% United Kingdom Index, EWU
-2.39% Growth MidCap 400 B, IJK
-2.40% Semiconductor H, SMH
-2.42% Health Care SPDR, XLV
-2.42% South Africa Index, EZA
-2.43% Biotech & Genome, PBE
-2.45% LargeCap Blend Socially Responsible iS, KLD
-2.46% Growth BARRA Small Cap 600, IJT
-2.46% Dividend Achievers PS, PFM
-2.46% Consumer Non-Cyclical, IYK
-2.47% Insurance, PIC
-2.48% Consumer Staples SPDR, XLP
-2.48% Growth Small Cap DJ, DSG
-2.48% Health Care VIPERs, VHT
-2.50% Value LargeCap Euro STOXX 50 DJ, FEU
-2.50% Pacific ex-Japan, EPP
-2.50% Telecom Services VIPERs, VOX
-2.50% Consumer Staples VIPERs, VDC
-2.51% Growth MidCap Russell, IWP
-2.52% Lg Cap Growth PSD, PWB
-2.53% Software H, SWH
-2.53% Food & Beverage, PBJ
-2.53% Growth SmallCap VIPERs, VBK
-2.53% Growth SmallCap iS M, JKK
-2.54% Growth VIPERs, VUG
-2.54% Technology DJ US, IYW
-2.55% Value 40 Large Low P/E FT DB, FDV
-2.56% Networking, IGN
-2.57% Healthcare Global, IXJ
-2.57% MidCap VIPERs, VO
-2.58% Software, IGV
-2.59% MidCap S&P 400 iS, IJH
-2.59% Brazil Index, EWZ
-2.60% Biotechnology, IBB
-2.60% Technology Global, IXN
-2.60% Microcap Russell, IWC
-2.61% Semiconductor SPDR, XSD
-2.61% LargeCap Blend NYSE Composite iS, NYC
-2.61% Growth Mid Cap Dynamic PS, PWJ
-2.62% France Index, EWQ
-2.62% Utilities SPDR, XLU
-2.63% Growth Large Cap, ELG
-2.64% Pharmaceutical H, PPH
-2.65% MidCap Russell, IWR
-2.66% Wilshire 5000 ST TM, TMW
-2.67% Info Tech VIPERs, VGT
-2.67% Dividend International, PID
-2.68% European VIPERs, VGK
-2.68% Value MidCap S&P 400 B, IJJ
-2.69% Technology GS, IGM
-2.70% Growth S&P 500/BARRA, IVW
-2.70% Growth 1000 Russell, IWF
-2.70% Telecommunications Global, IXP
-2.70% Water Resources, PHO
-2.70% Extended Mkt VIPERs, VXF
-2.71% Value MidCap Russell, IWS
-2.71% WilderHill Clean Energy PS, PBW
-2.72% Technology SPDR, XLK
-2.72% Growth LargeCap Russell 3000, IWZ
-2.72% MidCap Blend Core iS M, JKG
-2.75% Belgium Index, EWK
-2.76% Value Small Cap DJ, DSV
-2.76% Growth SmallCap Dynamic PS, PWT
-2.77% Global 100, IOO
-2.80% Building & Construction, PKB
-2.80% Growth LargeCap iS M, JKE
-2.81% Europe 350 S&P Index, IEV
-2.83% Euro STOXX 50, FEZ
-2.84% Dividend Appreciation Vipers, VIG
-2.84% LargeCap Blend Russell 3000, IWV
-2.84% EMU Europe Index, EZU
-2.84% Technology MS sT, MTK
-2.86% MidCap S&P 400 SPDRs, MDY
-2.87% EAFE Index, EFA
-2.88% Growth LargeCap NASDAQ Fidelity, ONEQ
-2.89% LargeCap 1000 R, IWB
-2.89% Singapore Index, EWS
-2.91% LargeCap Blend Total Market DJ, IYY
-2.93% Value SmallCap Russell 2000, IWN
-2.93% Internet H, HHH
-2.93% Small Cap VIPERs, VB
-2.94% Materials SPDR, XLB
-2.95% Value MidCap iS M, JKI
-2.96% LargeCap Blend S&P 1500 iS, ISI
-2.98% Growth SmallCap R 2000, IWO
-2.99% SmallCap Core iS M, JKJ
-2.99% SmallCap Russell 2000, IWM
-2.99% LargeCap Blend Core iS M, JKD
-2.99% Internet Infrastructure H, IIH
-3.01% Growth LargeCap NASDAQ 100, QQQQ
-3.01% LargeCap VIPERs, VV
-3.01% Italy Index, EWI
-3.02% Blend Total Market VIPERs, VTI
-3.02% Pacific VIPERs, VPL
-3.03% S&P 500 iS LargeCap Blend, IVV
-3.03% Value EAFE MSCI, EFV
-3.06% Value SmallCap Dynamic PS, PWY
-3.08% Emerging 50 BLDRS, ADRE
-3.09% Value SmallCap VIPERS, VBR
-3.11% Value LargeCap Russell 3000, IWW
-3.12% Sweden Index, EWD
-3.12% Spain Index, EWP
-3.13% LargeCap Blend S&P 100, OEF
-3.13% Value SmallCap S&P 600 B, IJS
-3.13% Mexico Index, EWW
-3.14% Value LargeCap Dynamic PS, PWV
-3.15% Value LargeCap NYSE 100 iS, NY
-3.15% Dividend SPDR, SDY
-3.16% Latin Am 40, ILF
-3.16% Value SmallCap iS M, JKL
-3.16% DIAMONDS (DJIA), DIA
-3.18% Value 1000 Russell, IWD
-3.18% Value MidCap S&P 400, RFV
-3.19% S&P 500 SPDRs LargeCap Blend, SPY
-3.22% Industrial LargeCap Blend DJ US, IYJ
-3.23% Value SmallCap S&P 600, RZV
-3.24% Retail H, RTH
-3.24% Japan LargeCap Blend TOPIX 150, ITF
-3.28% Internet B2B H, BHH
-3.28% Value LargeCap Fundamental RAFI 1000, PRF
-3.29% Value VIPERs, VTV
-3.31% Value Large Cap DJ, ELV
-3.34% SmallCap S&P 600, IJR
-3.36% Asia 50 BLDRS, ADRA
-3.37% LargeCap Blend S&P=Weight R, RSP
-3.37% Value LargeCap iS M, JKF
-3.38% Consumer Cyclical DJ, IYC
-3.38% Dividend Growth PS, PHJ
-3.42% Industrials VIPERs, VIS
-3.44% Aerospace & Defense, PPA
-3.44% Value S&P 500 B, IVE
-3.45% Dividend DJ Select, DVY
-3.46% Broadband H, BDH
-3.48% Emerging VIPERs, VWO
-3.54% Japan Index, EWJ
-3.56% Consumer D. VIPERs, VCR
-3.62% Netherlands Index, EWN
-3.62% Emerging Markets, EEM
-3.68% Taiwan Index, EWT
-3.72% Retail, PMR
-3.73% South Korea Index, EWY
-3.74% LargeCap Rydex Rus Top 50, XLG
-3.90% Industrial SPDR, XLI
-3.90% Dividend Leaders, FDL
-3.91% Leisure & Entertainment, PEJ
-3.96% Real Estate US DJ, IYR
-3.98% Dividend High Yield Equity PS, PEY
-4.08% China LargeCap Growth G D H USX PS, PGJ
-4.11% Hong Kong Index, EWH
-4.16% Transportation Av DJ, IYT
-4.17% Value S&P 500, RPV
-4.18% REIT VIPERs, VNQ
-4.23% Consumer Discretionary SPDR, XLY
-4.28% Capital Markets KWB ST, KCE
-4.36% Financials Global LargeCap Value, IXG
-4.51% Financials VIPERs, VFH
-4.54% REIT Wilshire, RWR
-4.60% Financial DJ US, IYF
-4.60% Realty Cohen & Steers, ICF
-4.94% Financial Services DJ, IYG
-4.96% Bank Regional H, RKH
-5.14% Homebuilders SPDR, XHB
-5.32% Financial SPDR, XLF
-5.73% Ultra MidCap400 Double, MVV
-5.86% China 25 iS, FXI
-6.07% Ultra Dow30 Double, DDM
-6.35% Ultra S&P500 Double, SSO
-6.62% Ultra QQQ Double, QLD
