by Robert W. Colby, Senior Analyst TraderPlanet.com

Stock Market: Reflecting Stagflation.
Cyclicals Relatively Weak.
Defensive Relatively Strong.

The S&P 500 and the Dow-Jones Industrial Average both fell to their lowest closing price levels in more than 22 months.

The Dow-Jones Transportation Average, which had been relatively strong all year until 6/19/08, fell steeply to its lowest closing price level in more than 3 months, since 3/19/08.

Industrial Stock Sector Relative Strength Ratio and absolute price both fell to their lowest levels in more than 5 months, again confirming a Bearish trend.

Utilities Stock Sector Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.

Consumer Staples Stock Sector Relative Strength Ratio rose to another new 3-month high, and longer-term trends look strong.

Health Care Stock Sector Relative Strength Ratio moved up to a new 3- month high, but longer-term trends are not strong.

Foreign stock index EFA absolute price fell to its lowest levels in more than 5 months.

iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) price broke down to another new 5-year low, again confirming a major downtrend.

Crude Oil and the CRB index of commodity prices both moved up to new all-time highs again, confirming major uptrends.

On Wednesday, major stock price indexes opened higher, turned choppy in midsession, then fell steeply in the final two hours to close down significantly and near the Lows of the day’s High-Low range. Total NYSE volume fell 9%, a reversion toward the mean after Tuesday’s volume surge.

The S&P 500 closed at 1,261.52, down 23.39 points or 1.82%. Despite substantial weakness, this popular index held slightly above 1,256.98, the intraday low of 3/17/2008, which may be a critical support.

The breadth of the market was Bearish–again. The Advance-Decline balance ((A-D) / (A+D)) was -46.50%, the Up-Down Volume balance ((Up-Dn) / (Up+Dn)) was -66.31%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -72.03% on the NYSE. The Cumulative Daily Advance-Decline Line for the NYSE fell to another new 18-month low, while the A-D Line for the Nasdaq fell to another new multi-year low.

On 5/22/08, this daily update stated, “The popular S&P DEP RECEIPTS (AMEX: SPY)… 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.” The market appears to be at such a critical juncture now.

The S&P 500 has fallen 11.57% since its rally high close of 1,426.63 on 5/19/08. Consistently, 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 Primary Trend is the dominant force. Still, the short-term general market action has been subject to rapid and frequent change, 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

18.42% , APOL , APOLLO GROUP
8.18% , FDO , FAMILY DLR STRS
5.59% , DLTR , Dollar Tree Stores Inc
5.41% , FISV , FISERV
2.40% , CPWR , COMPUWARE
3.37% , YHOO , YAHOO
2.20% , CI , CIGNA
2.50% , PBG , PEPSI BOTTLING
1.96% , USO , Oil, Crude, U.S. Oil Fund, USO
2.57% , RAI , RJR TOBACCO HLDS
2.34% , DELL , DELL
3.06% , MYY , Short 100% MidCap 400, MYY
3.41% , SNV , SYNOVUS
0.27% , XBI , Biotech SPDR, XBI
2.07% , MU , MICRON TECH
1.25% , ETFC.O , E*TRADE

1.75% , PKI , PERKINELMER
1.97% , GS , GOLDMAN SACHS
0.49% , SUN , SUNOCO
1.80% , BSX , BOSTON SCIENT
3.07% , XMSR , XM Satellite R
0.56% , EWI , Italy Index, EWI
0.87% , K , KELLOGG
0.29% , PBE , Biotech & Genome, PBE
0.87% , MTB , M&T BANK
0.38% , FITB , FIFTH THIRD BANC
2.25% , EMC , EMC
0.24% , IEF , Bond, 10 Year Treasury, IEF
0.63% , CEPH , Cephalon Inc
0.58% , HGSI , Human Genome Sciences Inc
1.91% , DBC , Commodity Tracking, DBC
0.38% , SBUX , STARBUCKS
0.22% , HSP , HOSPIRA
0.24% , KSS , KOHLS
0.63% , SHLD , SEARS HOLDINGS
0.09% , IBB , Biotechnology, IBB
0.27% , ABI , Applera Corp-Applied Biosystems Group (ABI)
0.89% , DTE , DTE ENERGY
0.18% , THC , TENET HEALTHCARE
1.44% , HRB , H&R BLOCK

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

-21.95% , CAR , Avis Budget Group, Inc. (CAR)
-5.08% , ACV , Alberto-Culver Co.
-14.25% , NUE , NUCOR
-1.57% , PMR , Retail, PMR
-4.04% , TE , TECO ENERGY
-7.56% , DISH , EchoStar Communications Corporation
-11.50% , XME , Metals & Mining SPDR, XME
-2.24% , IWW , Value LargeCap Russell 3000, IWW
-10.19% , STLD , Steel Dynamics, STLD
-9.02% , CC , CIRCUIT CITY STR
-6.74% , FLEX , Flextronics International Ltd
-12.52% , X , US STEEL CORP
-16.73% , VC , VISTEON
-2.40% , JKK , Growth SmallCap iS M, JKK
-8.66% , LEG , LEGGETT & PLATT
-8.05% , UIS , UNISYS
-10.27% , LVLT , LEVEL 3 COMMUNICATIONS
-1.11% , EFV , Value EAFE MSCI, EFV
-6.34% , CBE , COOPER INDS STK A
-6.06% , DLX , DELUXE
-6.91% , FCX , FREEPRT MCMORAN STK B
-9.32% , ATI , ALLEGHENY TECH
-4.31% , RHI , ROBERT HALF
-4.81% , HBAN , HUNTINGTON
-3.88% , EWM , Malaysia Index, EWM
-6.35% , CSX , CSX
-2.89% , PZJ , SmallCap PS Zacks, PZJ
-1.99% , UNH , UNITEDHEALTH GRP
-5.22% , BNI , BURLINGTON NORTH
-2.39% , IGW , Semiconductor iS GS, IGW
-3.57% , LNCR , Lincare Holdings Inc
-5.95% , TIN , TEMPLE INLAND
-3.49% , EMN , EASTMAN CHEM
-1.29% , EWN , Netherlands Index, EWN
-6.64% , LIZ , LIZ CLAIRBORNE
-1.32% , PFM , Dividend Achievers PS, PFM
-3.91% , COP , CONOCOPHILLIPS
-3.63% , IXC , Energy Global, IXC
-6.18% , TNB , THOMAS & BETTS
-5.24% , BK , BANK OF NEW YORK

Sectors: among the 9 major U.S. sectors, all 9 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol

-0.11% Consumer Staples SPDR, XLP
-0.27% Utilities SPDR, XLU
-0.69% Health Care SPDR, XLV
-1.10% Consumer Discretionary SPDR, XLY
-1.32% Technology SPDR, XLK
-1.53% Financial SPDR, XLF
-3.02% Energy SPDR, XLE
-3.06% Industrial SPDR, XLI
-4.27% Materials SPDR, XLB

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 7/1/08, XLE/SPY Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.

Utilities (XLU) Neutral, Market Weight. On 7/2/08, XLU/SPY Relative Strength Ratio rose to a new all-time high, again confirming a major uptrend. Since 10/17/02, the XLU/SPY Relative Strength Ratio has outperformed substantially.

Consumer Staples (XLP) Neutral, Market Weight. On 7/2/08, XLP /SPY Relative Strength Ratio rose to another new 3-month high. For nearly 8 years, since 9/27/00, the XLP/SPY Relative Strength Ratio has outperformed, so the long-term trend is up.

Materials (XLB) Neutral, Market Weight. On 6/23/08, XLB/SPY Relative Strength Ratio rose to another new all-time high, thereby confirming a major uptrend.

Technology (XLK) Neutral, Market Weight. On 6/6/08, the XLK/SPY Relative Strength Ratio rose to a new 5-month high, thereby confirming an improving intermediate-term trend.

Health Care (XLV) Bearish, Underweight. On 7/2/08, the XLV/SPY Relative Strength Ratio moved up to a new 3- month high. But on 6/20/08, the XLV absolute price fell to its lowest level in nearly 2 years, since 7/18/06. 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.

Industrial (XLI) Bearish, Underweight. On 7/2/08, both the XLI absolute price and the XLI/SPY Relative Strength Ratio fell to their lowest levels in more than 5 months, again confirming a Bearish trend.

Consumer Discretionary (XLY) Bearish, Underweight. On 7/1/08, the XLY absolute price and the XLY/SPY Relative Strength Ratio both fell to their lowest level in more than 5 months. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially.

Financial (XLF) Bearish, Underweight. On 7/1/08, the XLF absolute price fell to its lowest level in more than 5 years, while the XLF/SPY Relative Strength Ratio fell to its lowest level in 8 years. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially.

Foreign stock index EFA absolute price fell to its lowest levels in more than 5 months on 7/2/08. Since 5/23/08, EFA has underperformed the U.S. stock market. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.

NASDAQ Composite has underperformed the S&P 500 since 6/19/08. The minor Ripple Trend appears to be turning away from NASDAQ stocks.

Growth Stock/Value Stock Relative Strength Ratio has turned down since the peak on 6/23/08. So far, this is a short-term correction. Long term, the Growth/Value ratio (IWF/IWD) made a new 3-year high on 6/23/08 and has been in an uptrend since 8/8/06.

The Small Cap/Large Cap Relative Strength Ratio has turned down since the peak on 6/20/08. The minor Ripple Trend appears to be turning away from Small Caps and toward Large Caps.

Crude Oil August futures contract rose to another new all-time price high at 144.32. Trends remain 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 August futures contract rose modestly. Gold’s trends remain Bullish for the short-, intermediate-, and long-term.

U.S. Treasury Bond September futures contract rose moderately. The “flight capital away from stocks” game appeared to be not yet finished. Obvious resistance is nearby, and so the sustainability of the rally seems uncertain.

The U.S. dollar fell to a new 6-week price low. The short-term trend of the most recent 13 trading days is down. Intermediate term, the dollar has been in a choppy sidewaystrading range since its low on 3/17/08–but now it is tilting downward. Long-term, the 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 31.9 % Bulls versus 44.7% Bears as of 7/2/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio fell to 0.71, down from 0.86 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 25.92, indicates rising fear since 5/15/08. 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”, now at 30.92, shows rising fear since 5/16/08. Previously, 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 0.71, which indicates slightly Bearish sentiment. Its 4-year mean and median are 0.62, and its 4-year range is 0.35 to 1.28.

ISEE Call/Put Ratio is 1.16, which indicates Bearish sentiment. The ratio’s 4-year mean 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 subprimecredit market crisis has derailed that engine. Economic statistics and corporate earnings have weakened. Rising commodity prices push up inflation.

A new intermediate-term down wave was signaled on 6/11/08, when the Dow-Jones Industrials and Transports both closed at new 7-week lows. 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 (1,261.52):

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 5/19/2008
1,406.32, high of 5/29/2008

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 (1,261.52):

Potential Support
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:
% Price Change, ETF Name, Symbol

6.08% Short 200% MidCap 400 PS, MZZ
4.71% Short 200% QQQ PS, QID
3.66% Short 200% S&P 500 PS, SDS
3.06% Short 100% MidCap 400, MYY
2.96% Short 200% Dow 30 PS, DXD
2.47% Short 100% QQQ, PSQ
1.96% Oil, Crude, U.S. Oil Fund, USO
1.91% Commodity Tracking, DBC
1.76% Silver Trust iS, SLV
1.57% Short 100% S&P 500, SH
1.13% Short 100% Dow 30, DOG
0.80% Hardware & Electronics, PHW
0.63% Bond, TIPS, TIP
0.56% Italy Index, EWI
0.55% Gold Shares S.T., GLD
0.52% Bond, 20+ Years Treasury, TLT
0.36% Telecommunications Global, IXP
0.34% Spain Index, EWP
0.29% Biotech & Genome, PBE
0.27% Biotech SPDR, XBI
0.24% Bond, 10 Year Treasury, IEF
0.23% Internet Architecture H, IAH
0.19% Healthcare Global, IXJ
0.09% Biotechnology, IBB
0.01% Bond, 1-3 Year Treasury, SHY
0.00% Insurance, PIC
-0.07% Bond, Corp, LQD
-0.11% Consumer Staples SPDR, XLP
-0.12% Bond, Aggregate, AGG
-0.19% Utilities H, UTH
-0.27% Utilities SPDR, XLU
-0.30% Consumer Staples VIPERs, VDC
-0.33% Consumer Non-Cyclical, IYK
-0.36% Utilities, PUI
-0.39% Healthcare DJ, IYH
-0.39% Health Care VIPERs, VHT
-0.48% Belgium Index, EWK
-0.56% Telecom H, TTH
-0.63% Biotech H, BBH
-0.65% Euro STOXX 50, FEZ
-0.65% Pharmaceuticals, PJP
-0.69% Health Care SPDR, XLV
-0.70% Pharmaceutical H, PPH
-0.73% Utilities VIPERs, VPU
-0.77% Value LargeCap Euro STOXX 50 DJ, FEU
-0.79% Value MidCap iS M, JKI
-0.79% LargeCap Blend Core iS M, JKD
-0.80% Value LargeCap NYSE 100 iS, NY
-0.81% Utilities DJ, IDU
-0.87% Internet H, HHH
-0.89% Germany Index, EWG
-0.92% Financials Global LargeCap Value, IXG
-0.92% Value 40 Large Low P/E FT DB, FDV
-0.96% Global 100, IOO
-1.01% EMU Europe Index, EZU
-1.01% Value MidCap Dynamic PS, PWP
-1.06% Switzerland Index, EWL
-1.07% Dividend Appreciation Vipers, VIG
-1.10% Consumer Discretionary SPDR, XLY
-1.11% Value EAFE MSCI, EFV
-1.16% Dividend Leaders, FDL
-1.17% Dividend Growth PS, PHJ
-1.18% Value Large Cap DJ, ELV
-1.21% LargeCap Rydex Rus Top 50, XLG
-1.22% Singapore Index, EWS
-1.23% REIT VIPERs, VNQ
-1.26% Value LargeCap Dynamic PS, PWV
-1.29% Netherlands Index, EWN
-1.30% LargeCap Blend S&P 100, OEF
-1.31% Networking, PXQ
-1.32% Dividend Achievers PS, PFM
-1.32% Technology SPDR, XLK
-1.33% European VIPERs, VGK
-1.37% Developed 100 BLDRS, ADRD
-1.38% Austria Index, EWO
-1.42% Pacific ex-Japan, EPP
-1.42% DIAMONDS (DJIA), DIA
-1.43% Technology MS sT, MTK
-1.43% Financials VIPERs, VFH
-1.43% Software, PSJ
-1.44% Consumer Cyclical DJ, IYC
-1.45% Sweden Index, EWD
-1.49% Value LargeCap iS M, JKF
-1.53% Financial SPDR, XLF
-1.54% Europe 350 S&P Index, IEV
-1.54% Mexico Index, EWW
-1.55% Financial DJ US, IYF
-1.57% Wilshire 5000 ST TM, TMW
-1.57% Retail, PMR
-1.58% Australia Index, EWA
-1.59% Food & Beverage, PBJ
-1.59% EAFE Index, EFA
-1.62% Europe 100 BLDRS, ADRU
-1.63% Value VIPERs, VTV
-1.65% Value S&P 500 B, IVE
-1.65% Leisure & Entertainment, PEJ
-1.67% LargeCap Blend Socially Responsible iS, KLD
-1.67% LargeCap Blend S&P 1500 iS, ISI
-1.68% Value S&P 500, RPV
-1.71% S&P 500 SPDRs LargeCap Blend, SPY
-1.72% Growth EAFE MSCI, EFG
-1.72% Info Tech VIPERs, VGT
-1.76% Realty Cohen & Steers, ICF
-1.77% Technology Global, IXN
-1.77% Value SmallCap iS M, JKL
-1.77% Semiconductor H, SMH
-1.78% Technology DJ US, IYW
-1.80% S&P 500 iS LargeCap Blend, IVV
-1.80% LargeCap VIPERs, VV
-1.81% Bank Regional H, RKH
-1.81% Dividend SPDR, SDY
-1.82% Broadband H, BDH
-1.82% Consumer D. VIPERs, VCR
-1.84% LargeCap Blend NYSE Composite iS, NYC
-1.85% Retail H, RTH
-1.85% Internet B2B H, BHH
-1.86% Financial Services DJ, IYG
-1.88% Pacific VIPERs, VPL
-1.88% Value LargeCap Fundamental RAFI 1000, PRF
-1.89% REIT Wilshire, RWR
-1.89% Capital Markets KWB ST, KCE
-1.90% LargeCap Blend Total Market DJ, IYY
-1.93% Japan LargeCap Blend TOPIX 150, ITF
-1.94% Technology GS, IGM
-1.96% Semiconductor SPDR, XSD
-1.99% Networking, IGN
-2.01% LargeCap Blend Dynamic PS, PWC
-2.03% Dividend DJ Select, DVY
-2.03% OTC Dynamic PS, PWO
-2.04% Aerospace & Defense, PPA
-2.05% LargeCap Blend S&P=Weight R, RSP
-2.05% Blend Total Market VIPERs, VTI
-2.06% Software, IGV
-2.08% Real Estate US DJ, IYR
-2.09% Growth S&P 500/BARRA, IVW
-2.10% Value SmallCap Dynamic PS, PWY
-2.10% Dividend High Yield Equity PS, PEY
-2.13% France Index, EWQ
-2.14% Canada Index, EWC
-2.14% Dividend International, PID
-2.16% Software H, SWH
-2.16% Japan Index, EWJ
-2.17% Telecommunications & Wireless, PTE
-2.19% United Kingdom Index, EWU
-2.20% Value MidCap S&P 400, RFV
-2.20% Growth LargeCap iS M, JKE
-2.22% Telecom DJ US, IYZ
-2.23% Semiconductors, PSI
-2.24% Value LargeCap Russell 3000, IWW
-2.25% Growth Large Cap, ELG
-2.27% Telecom Services VIPERs, VOX
-2.29% Growth S&P 500, RPG
-2.29% LargeCap Blend Russell 3000, IWV
-2.30% Growth LargeCap NASDAQ Fidelity, ONEQ
-2.31% MidCap VIPERs, VO
-2.34% Value 1000 Russell, IWD
-2.35% Global Titans, DGT
-2.36% MidCap Blend Core iS M, JKG
-2.39% Semiconductor iS GS, IGW
-2.40% LargeCap 1000 R, IWB
-2.40% Growth LargeCap NASDAQ 100, QQQQ
-2.40% Growth SmallCap iS M, JKK
-2.41% Lg Cap Growth PSD, PWB
-2.43% Value Small Cap DJ, DSV
-2.47% Growth LargeCap Russell 3000, IWZ
-2.50% Emerging VIPERs, VWO
-2.53% Asia 50 BLDRS, ADRA
-2.56% Value MidCap S&P 400 B, IJJ
-2.57% Value MidCap Russell, IWS
-2.59% Growth BARRA Small Cap 600, IJT
-2.59% Value SmallCap VIPERS, VBR
-2.61% Growth 1000 Russell, IWF
-2.63% SmallCap S&P 600, IJR
-2.63% Growth SmallCap Dynamic PS, PWT
-2.71% Growth VIPERs, VUG
-2.72% Taiwan Index, EWT
-2.77% Microcap Russell, IWC
-2.78% Ultra Dow30 Double, DDM
-2.79% South Korea Index, EWY
-2.83% Value SmallCap S&P 600 B, IJS
-2.85% Small Cap VIPERs, VB
-2.85% Emerging Markets, EEM
-2.86% South Africa Index, EZA
-2.89% SmallCap PS Zacks, PZJ
-2.91% SmallCap Core iS M, JKJ
-2.92% Energy VIPERs, VDE
-2.94% Nanotech Lux, PXN
-2.94% Growth SmallCap VIPERs, VBK
-2.95% Growth Small Cap DJ, DSG
-2.98% Internet Infrastructure H, IIH
-2.99% MidCap S&P 400 SPDRs, MDY
-3.00% MidCap Russell, IWR
-3.01% Energy DJ, IYE
-3.02% Energy SPDR, XLE
-3.02% MidCap S&P 400 iS, IJH
-3.06% Industrial SPDR, XLI
-3.12% Growth MidCap S&P 400, RFG
-3.13% Industrial LargeCap Blend DJ US, IYJ
-3.16% Extended Mkt VIPERs, VXF
-3.17% SmallCap Russell 2000, IWM
-3.18% MidCap Growth iS M, JKH
-3.23% Growth MidCap Russell, IWP
-3.25% China LargeCap Growth G D H USX PS, PGJ
-3.26% Growth Mid Cap Dynamic PS, PWJ
-3.29% Emerging 50 BLDRS, ADRE
-3.29% Growth SmallCap R 2000, IWO
-3.30% Value SmallCap S&P 600, RZV
-3.38% Hong Kong Index, EWH
-3.41% Industrials VIPERs, VIS
-3.43% Growth MidCap 400 B, IJK
-3.44% Value SmallCap Russell 2000, IWN
-3.44% Oil & Gas, PXJ
-3.48% IPOs, First Tr IPOX-100, FPX
-3.60% Micro Cap Zachs, PZI
-3.61% China 25 iS, FXI
-3.62% Ultra S&P500 Double, SSO
-3.63% Energy Global, IXC
-3.83% Natural Resource iS GS, IGE
-3.88% Malaysia Index, EWM
-3.96% Oil Services H, OIH
-4.04% Latin Am 40, ILF
-4.10% Energy Exploration & Prod, PXE
-4.23% Transportation Av DJ, IYT
-4.27% Materials SPDR, XLB
-4.35% Water Resources, PHO
-4.35% Brazil Index, EWZ
-4.47% Value Line Timeliness MidCap Gr, PIV
-4.90% Ultra QQQ Double, QLD
-4.96% Building & Construction, PKB
-5.19% Homebuilders SPDR, XHB
-5.40% WilderHill Clean Energy PS, PBW
-5.72% Materials VIPERs, VAW
-6.19% Ultra MidCap400 Double, MVV
-6.85% Basic Materials DJ US, IYM
-11.50% Metals & Mining SPDR, XME