Daily Stock Market Commentary – 7/11/2008

Stock Market: “shorter-term trends can change violently and rapidly.”

Materials Stock Sector XLB /SPY Relative Strength Ratio rose to another new 5-year high.

Health Care Stock Sector XLV/SPY Relative Strength Ratio moved up to a new 5-month high.

Consumer Discretionary Stock Sector absolute price and the XLY/SPY Relative Strength Ratio both fell to their lowest levels in more than 5 months.

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

On Thursday, major stock price indexes were choppy in a relatively narrow range most of the day. Both the DJIA and the S&P 500 hit new multi-month lows at 2:52 p.m., after which a moderate firming trend lifted prices above the open, previous close, and midpoint of the day’s High-Low range. Total NYSE volume rose 13%.

The S&P 500 closed at 1,253.39, up 8.71 points or 0.70%. But that might not be overly impressive if one considers that on Wednesday the S&P 500 fell 2.28% to its lowest closing price in more than 23 months, thereby confirming a major downtrend. There was a lower high and lower low for the day, which continues the preexisting Bearish pattern.

The breadth of the market was remarkably neutral for a day when most price indexes rose. The Advance-Decline balance ((A-D) / (A+D)) was 5.58%, the Up-Down Volume balance ((Up-Dn) / (Up+Dn)) was 1.90%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -89.56% on the NYSE. On 7/7/08, the Cumulative Daily Advance-Decline Line for the NYSE fell to a new 18-month low. On 7/9/08, the A-D Line for the NASDAQ fell to a new multi-year low. So, major breadth trends are down.

The S&P 500 has fallen 12.14% since its rally high close of 1,426.63 on 5/19/08 and 19.92% since its all-time high close of 1,565.15 on 10/9/07. Consistently, I have been assuming that the U.S. stock market is in a Bearish Primary Trend, which was clearly signaled here on 11/21/07, when both the Dow-Jones Industrial and Transportation Averages closed below their respective closing price lows of August, 2007. The Primary Trend is the dominant force, and it tends to overwhelm smaller trends and cycles. Nevertheless, even while emphasizing the Primary Trend, traders may want to keep in mind that stocks do not move in a straight line for very long, and shorter-term trends can change violently and rapidly.

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
64.22% , ROH , ROHM & HAAS
5.33% , CBE , COOPER INDS STK A
4.53% , IIH , Internet Infrastructure H, IIH
6.21% , PMTC.O , PARAMETRIC
0.99% , DSG , Growth Small Cap DJ, DSG
3.34% , LNCR , Lincare Holdings Inc
1.20% , SWH , Software H, SWH
3.74% , WAG , WALGREEN
3.57% , SWY , SAFEWAY
2.37% , PKI , PERKINELMER
1.06% , IWZ , Growth LargeCap Russell 3000, IWZ
1.26% , PKB , Building & Construction, PKB
0.73% , ITF , Japan LargeCap Blend TOPIX 150, ITF
4.39% , EFX , EQUIFAX
0.71% , XLG , LargeCap Rydex Rus Top 50, XLG
2.33% , LEG , LEGGETT & PLATT
4.77% , ERIC.O , LM Ericsson Telephone Company
2.71% , HPC , HERCULES
1.72% , PGJ , China LargeCap Growth G D H USX PS, PGJ
2.58% , RTN , RAYTHEON
4.34% , SRCL , Stericycle, SRCL
0.74% , RZV , Value SmallCap S&P 600, RZV
9.70% , AA , ALCOA
1.74% , PIV , Value Line Timeliness MidCap Gr, PIV
3.58% , EWZ , Brazil Index, EWZ
3.25% , NSC , NORFOLK SOUTHERN
1.30% , IYW , Technology DJ US, IYW
0.96% , JKJ , SmallCap Core iS M, JKJ
0.22% , JKK , Growth SmallCap iS M, JKK
3.85% , BHH , Internet B2B H, BHH
2.07% , BDX , BECTON DICKINSON
2.64% , HON , HONEYWELL INTL
4.09% , INTC , INTEL
1.13% , IYJ , Industrial LargeCap Blend DJ US, IYJ
4.23% , XTO , XTO ENERGY INC
1.38% , IGV , Software, IGV
0.83% , JNY , JONES APPAREL
0.49% , ISI , LargeCap Blend S&P 1500 iS, ISI
0.65% , IEV , Europe 350 S&P Index, IEV
2.67% , IYE , Energy DJ, IYE

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-2.80% , RPV , Value S&P 500, RPV
-22.03% , FRE , FREDDIE MAC
-0.98% , FDV , Value 40 Large Low P/E FT DB, FDV
-12.36% , LEH , LEHMAN BROS HLDG
-22.11% , MTG , MGIC INVESTMENT
-13.78% , FNM , FANNIE MAE
-5.20% , ATVI , Activision Inc.
-8.71% , JWN , NORDSTROM
-4.24% , DOW , DOW CHEMICAL
-10.11% , JCP , JC PENNEY
-9.82% , WYNN , Wynn Resorts L
-5.75% , NIHD , NII Holdings, Inc.
-2.30% , PEJ , Leisure & Entertainment, PEJ
-4.89% , LTD , LIMITED BRANDS
-8.22% , AIG , AMER INTL GROUP
-7.21% , MAR , MARRIOTT INTL STK A
-5.31% , KSS , KOHLS
-8.12% , WB , WACHOVIA
-6.20% , GM , GENERAL MOTORS
-5.95% , URBN , Urban Outfitters Inc.
-0.44% , TMW , Wilshire 5000 ST TM, TMW
-4.19% , FMCN , Focus Media, FMCN
-3.71% , CI , CIGNA
-5.14% , TGT , TARGET
-5.21% , JBL , JABIL CIRCUIT
-0.55% , MYY , Short 100% MidCap 400, MYY
-5.34% , PGR , PROGRESSIVE OHIO
-0.53% , RPG , Growth S&P 500, RPG
-3.82% , DRI , DARDEN REST
-4.69% , CCL , CARNIVAL STK A
-2.80% , MOT , MOTOROLA
-2.09% , PID , Dividend International, PID
-0.68% , PMR , Retail, PMR
-4.97% , ETFC.O , E*TRADE FINANCIAL
-2.85% , KEY , KEYCORP
-1.20% , IYC , Consumer Cyclical DJ, IYC
-3.96% , LOW , LOWES
-1.15% , KCE , Capital Markets KWB ST, KCE
-4.95% , HOT , STARWOOD HOTELS
-1.63% , HUM , HUMANA

Sectors: among the 9 major U.S. sectors, 7 rose and 2 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
3.07% Energy SPDR, XLE
1.54% Industrial SPDR, XLI
1.26% Technology SPDR, XLK
0.74% Consumer Staples SPDR, XLP
0.54% Health Care SPDR, XLV
0.38% Materials SPDR, XLB
0.25% Utilities SPDR, XLU
-0.72% Financial SPDR, XLF
-1.76% Consumer Discretionary SPDR, XLY

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 7/9/08, XLU/SPY Relative Strength Ratio rose to another 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 7/9/08, XLP /SPY Relative Strength Ratio rose to another new 5-year high, again confirming that the long-term trend is up.

Materials (XLB) Neutral, Market Weight. On 7/10/08, XLB/SPY Relative Strength Ratio rose to another new all-time high, thereby confirming a major uptrend. But on 7/8/08, absolute price and XLB/SPY Relative Strength Ratio both fell to new 9-week lows, thereby suggesting an intermediate-term downside correction.

Health Care (XLV) Bearish, Underweight. On 7/10/08, the XLV/SPY Relative Strength Ratio moved up to a new 5-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.

Technology (XLK) Bearish, Underweight. On 7/3/08, the XLK absolute price and the XLK/SPY Relative Strength Ratio both fell to their lowest levels in 6 weeks, thereby signaling a deteriorating intermediate-term trend. The XLK/SPY Relative Strength Ratio has been deteriorating since 6/6/08.

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 7/10/08, the XLY absolute price and the XLY/SPY Relative Strength Ratio both fell to their lowest levels in more than 5 months. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially.

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

Foreign stock index EFA Relative Strength Ratio fell to its lowest level in 3 months on 7/8/08. 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 Relative Strength Ratio and absolute price both fell to their lowest levels in 6 weeks on 7/3/08, thereby signaling a deteriorating intermediate-term trend. NASDAQ Composite has underperformed the S&P 500 since 6/19/08.

Growth Stock/Value Stock Relative Strength Ratio rose to a new 3-year high on 7/10/08. This ratio (IWF/IWD) has been in an uptrend since 8/8/06.

The Small Cap/Large Cap Relative Strength Ratio has fallen significantly since its peak on 6/20/08. The minor Ripple Trend (at least) has turned away from Small Caps and toward Large Caps.

Crude Oil August futures contract rose 5.60 to 141.65. The previous 3-day correction appears to be nothing more than a minor short-term price pullback. Trends remain Bullish in longer 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 rose above the highs of the previous 3 trading days. Gold’s 3-day correction appears to be nothing more than a minor short-term price pullback. Trends remain Bullish in longer time frames.

U.S. Treasury Bond September futures contract moved up to another new 3-month closing price high. Bonds are benefiting from a flight to safety as stocks decline.

iShares Lehman TIPS Bond ETF (TIP) Strength Ratio Relative to iShares Lehman 7-10 Year Treasury ETF (IEF) broke out to a new 18-month high on 7/3/08.

iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) absolute price broke down to another new 5-year low on 7/3/08.

The U.S. dollar fell below the previous 4-days’ lows. The short-term trend appears treacherous. Intermediate term, the dollar has been in a choppy sideways trading range since its low on 3/17/08. 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. The business and financial news has flipped from fear to hope and back again this year, creating higher levels of volatility. Investors might be wise to focus on risk control.

Sentiment/Contrary Opinion: There were 27.4% Bulls versus 47.3% Bears as of 7/9/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio fell to 0.58, down from 0.71 the previous week. This is the lowest level of the ratio since 1994. The ratio’s 38-year range is 0.28 to 17.51, and the median is 1.47. Sentiment indicators are often early, and so should not be used on a stand-alone basis for market timing.

VIX “Fear Index”, now at 25.59, 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 30.45, 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 0.93, which indicates 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 0.80, 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 3.16.

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. 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 (1,253.39):

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 (1,253.39):

Potential Support
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

4.94% Energy Exploration & Prod, PXE
4.53% Internet Infrastructure H, IIH
4.44% Metals & Mining SPDR, XME
4.28% Oil, Crude, U.S. Oil Fund, USO
3.85% Internet B2B H, BHH
3.85% China 25 iS, FXI
3.59% Energy VIPERs, VDE
3.58% Brazil Index, EWZ
3.23% Natural Resource iS GS, IGE
3.16% Emerging VIPERs, VWO
3.07% Energy SPDR, XLE
2.72% Commodity Tracking, DBC
2.67% Energy DJ, IYE
2.63% REIT Wilshire, RWR
2.55% Oil Services H, OIH
2.51% Basic Materials DJ US, IYM
2.47% South Korea Index, EWY
2.40% Materials VIPERs, VAW
2.22% Gold Shares S.T., GLD
2.21% South Africa Index, EZA
2.17% Latin Am 40, ILF
2.17% Realty Cohen & Steers, ICF
2.08% Emerging 50 BLDRS, ADRE
2.08% Energy Global, IXC
1.93% REIT VIPERs, VNQ
1.91% Oil & Gas, PXJ
1.83% Italy Index, EWI
1.82% Real Estate US DJ, IYR
1.81% Emerging Markets, EEM
1.80% Semiconductor H, SMH
1.79% Australia Index, EWA
1.74% Value Line Timeliness MidCap Gr, PIV
1.72% Ultra QQQ Double, QLD
1.72% China LargeCap Growth G D H USX PS, PGJ
1.64% Biotech SPDR, XBI
1.61% Pacific ex-Japan, EPP
1.58% Biotech & Genome, PBE
1.54% Industrial SPDR, XLI
1.51% Growth SmallCap R 2000, IWO
1.48% Semiconductors, PSI
1.47% Semiconductor iS GS, IGW
1.42% Ultra Dow30 Double, DDM
1.41% Dividend SPDR, SDY
1.41% Broadband H, BDH
1.38% Software, IGV
1.36% Growth S&P 500/BARRA, IVW
1.34% Ultra S&P500 Double, SSO
1.32% Singapore Index, EWS
1.30% Technology DJ US, IYW
1.26% Technology SPDR, XLK
1.26% Value SmallCap S&P 600 B, IJS
1.26% Building & Construction, PKB
1.25% Ultra MidCap400 Double, MVV
1.20% Software H, SWH
1.20% Industrials VIPERs, VIS
1.18% Growth LargeCap NASDAQ 100, QQQQ
1.17% Canada Index, EWC
1.15% Internet Architecture H, IAH
1.15% Pacific VIPERs, VPL
1.13% Info Tech VIPERs, VGT
1.13% Telecom DJ US, IYZ
1.13% Industrial LargeCap Blend DJ US, IYJ
1.12% Microcap Russell, IWC
1.12% Telecom H, TTH
1.11% Hong Kong Index, EWH
1.11% Growth LargeCap iS M, JKE
1.08% MidCap Growth iS M, JKH
1.07% Value SmallCap Russell 2000, IWN
1.06% Growth LargeCap Russell 3000, IWZ
1.06% SmallCap S&P 600, IJR
1.05% Micro Cap Zachs, PZI
1.03% Lg Cap Growth PSD, PWB
1.03% Healthcare Global, IXJ
1.03% Technology Global, IXN
0.99% Growth Small Cap DJ, DSG
0.99% Taiwan Index, EWT
0.98% SmallCap Russell 2000, IWM
0.97% Euro STOXX 50, FEZ
0.97% Extended Mkt VIPERs, VXF
0.96% SmallCap Core iS M, JKJ
0.95% Silver Trust iS, SLV
0.94% Technology GS, IGM
0.94% Growth VIPERs, VUG
0.92% Sweden Index, EWD
0.92% MidCap VIPERs, VO
0.92% Value LargeCap Dynamic PS, PWV
0.91% Japan Index, EWJ
0.89% Technology MS sT, MTK
0.88% Software, PSJ
0.88% Belgium Index, EWK
0.86% EAFE Index, EFA
0.82% Utilities H, UTH
0.81% Growth LargeCap NASDAQ Fidelity, ONEQ
0.80% LargeCap Blend Russell 3000, IWV
0.79% Growth MidCap 400 B, IJK
0.79% Growth BARRA Small Cap 600, IJT
0.79% Growth MidCap Russell, IWP
0.79% LargeCap Blend Dynamic PS, PWC
0.77% Telecom Services VIPERs, VOX
0.76% Value EAFE MSCI, EFV
0.75% S&P 500 iS LargeCap Blend, IVV
0.75% Growth SmallCap Dynamic PS, PWT
0.74% Value SmallCap S&P 600, RZV
0.74% Consumer Staples SPDR, XLP
0.73% Japan LargeCap Blend TOPIX 150, ITF
0.71% Developed 100 BLDRS, ADRD
0.71% LargeCap Rydex Rus Top 50, XLG
0.71% Spain Index, EWP
0.70% IPOs, First Tr IPOX-100, FPX
0.70% Telecommunications Global, IXP
0.69% Growth SmallCap VIPERs, VBK
0.69% Value SmallCap Dynamic PS, PWY
0.68% Small Cap VIPERs, VB
0.68% EMU Europe Index, EZU
0.68% Growth Mid Cap Dynamic PS, PWJ
0.67% Growth EAFE MSCI, EFG
0.67% OTC Dynamic PS, PWO
0.65% Switzerland Index, EWL
0.65% Europe 350 S&P Index, IEV
0.64% Value SmallCap VIPERS, VBR
0.63% Europe 100 BLDRS, ADRU
0.63% Blend Total Market VIPERs, VTI
0.62% LargeCap Blend Total Market DJ, IYY
0.60% Asia 50 BLDRS, ADRA
0.59% LargeCap Blend S&P 100, OEF
0.59% Value LargeCap Euro STOXX 50 DJ, FEU
0.59% MidCap S&P 400 iS, IJH
0.59% LargeCap VIPERs, VV
0.58% Value LargeCap NYSE 100 iS, NY
0.57% Growth 1000 Russell, IWF
0.57% SmallCap PS Zacks, PZJ
0.57% MidCap S&P 400 SPDRs, MDY
0.56% Water Resources, PHO
0.54% Health Care SPDR, XLV
0.54% LargeCap 1000 R, IWB
0.54% Nanotech Lux, PXN
0.54% LargeCap Blend NYSE Composite iS, NYC
0.52% Health Care VIPERs, VHT
0.50% MidCap Russell, IWR
0.50% Malaysia Index, EWM
0.50% DIAMONDS (DJIA), DIA
0.49% LargeCap Blend S&P 1500 iS, ISI
0.49% MidCap Blend Core iS M, JKG
0.49% Global 100, IOO
0.48% Growth Large Cap, ELG
0.48% LargeCap Blend Socially Responsible iS, KLD
0.45% Value 1000 Russell, IWD
0.43% Biotechnology, IBB
0.41% LargeCap Blend Core iS M, JKD
0.41% S&P 500 SPDRs LargeCap Blend, SPY
0.41% Value MidCap S&P 400 B, IJJ
0.40% Utilities DJ, IDU
0.38% Materials SPDR, XLB
0.36% European VIPERs, VGK
0.35% Value MidCap Russell, IWS
0.35% Healthcare DJ, IYH
0.34% Value LargeCap iS M, JKF
0.32% Value VIPERs, VTV
0.30% Biotech H, BBH
0.27% Value S&P 500 B, IVE
0.27% Value LargeCap Russell 3000, IWW
0.25% Utilities SPDR, XLU
0.23% Utilities VIPERs, VPU
0.22% Growth SmallCap iS M, JKK
0.21% Dividend Achievers PS, PFM
0.21% Financials Global LargeCap Value, IXG
0.19% Dividend DJ Select, DVY
0.16% Utilities, PUI
0.15% Transportation Av DJ, IYT
0.14% Germany Index, EWG
0.13% France Index, EWQ
0.11% Networking, IGN
0.10% Semiconductor SPDR, XSD
0.10% Pharmaceutical H, PPH
0.10% Dividend Appreciation Vipers, VIG
0.09% Mexico Index, EWW
0.09% Bond, Aggregate, AGG
0.06% Pharmaceuticals, PJP
0.05% Value SmallCap iS M, JKL
0.04% Value MidCap S&P 400, RFV
0.03% Networking, PXQ
0.03% Bond, 10 Year Treasury, IEF
0.02% Consumer Staples VIPERs, VDC
0.00% LargeCap Blend S&P=Weight R, RSP
0.00% Aerospace & Defense, PPA
-0.01% Bond, TIPS, TIP
-0.01% Bond, 20+ Years Treasury, TLT
-0.02% Value Small Cap DJ, DSV
-0.04% Value LargeCap Fundamental RAFI 1000, PRF
-0.06% Value Large Cap DJ, ELV
-0.12% Bond, 1-3 Year Treasury, SHY
-0.13% Value MidCap Dynamic PS, PWP
-0.13% Bank Regional H, RKH
-0.15% United Kingdom Index, EWU
-0.16% Internet H, HHH
-0.20% Food & Beverage, PBJ
-0.21% Netherlands Index, EWN
-0.22% Value MidCap iS M, JKI
-0.23% Consumer Non-Cyclical, IYK
-0.28% Hardware & Electronics, PHW
-0.28% WilderHill Clean Energy PS, PBW
-0.30% Growth MidCap S&P 400, RFG
-0.44% Wilshire 5000 ST TM, TMW
-0.46% Global Titans, DGT
-0.52% Financial DJ US, IYF
-0.53% Financials VIPERs, VFH
-0.53% Growth S&P 500, RPG
-0.54% Austria Index, EWO
-0.55% Short 100% MidCap 400, MYY
-0.56% Financial Services DJ, IYG
-0.57% Bond, Corp, LQD
-0.65% Short 100% S&P 500, SH
-0.66% Short 100% Dow 30, DOG
-0.68% Retail, PMR
-0.72% Financial SPDR, XLF
-0.90% Insurance, PIC
-0.95% Short 200% S&P 500 PS, SDS
-0.98% Value 40 Large Low P/E FT DB, FDV
-1.01% Short 200% MidCap 400 PS, MZZ
-1.04% Homebuilders SPDR, XHB
-1.15% Capital Markets KWB ST, KCE
-1.18% Short 100% QQQ, PSQ
-1.19% Dividend High Yield Equity PS, PEY
-1.19% Short 200% QQQ PS, QID
-1.20% Consumer Cyclical DJ, IYC
-1.25% Dividend Leaders, FDL
-1.36% Short 200% Dow 30 PS, DXD
-1.45% Telecommunications & Wireless, PTE
-1.49% Retail H, RTH
-1.61% Dividend Growth PS, PHJ
-1.76% Consumer Discretionary SPDR, XLY
-2.09% Dividend International, PID
-2.12% Consumer D. VIPERs, VCR
-2.30% Leisure & Entertainment, PEJ
-2.80% Value S&P 500, RPV