by Robert W. Colby, Senior Analyst TraderPlanet.com
Stock Market: U.S. government rescue was not enough.
Financial StockSector 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.
Gold rose to another new 4-month high.
The U.S. dollar fell to its lowest closing price in 12-weeks.
Utilities and Consumer Staples Relative Strength Ratios both rose new 5-year highs. Both are Defensive Stock Sectors because they are relatively insensitive to economic recessions.
Health Care, another Defensive Stock Sector, XLV/SPY Relative Strength Ratio moved up to a new 5-month high.
Growth Stock/Value Stock Relative Strength Ratio rose to a new 4-year high.
The Cumulative Daily Advance-Decline Lines for the NYSE and for the NASDAQ both fell to new 20-month lows, so major breadth trends are down.
On Monday, major stock price indexes gapped substantially higher on the open but immediately turned down, changing into losses within the first hour. Stocks fell to a low at 1:12 p.m., tried to recover, but finally closed below the open, below the previous close, and near the low of the days High-Low range. The S&P 500 closed at 1,228.30, down 11.19 points or 0.90%. Total NYSE volume fell 19%, revealing a lack of demand for stocks.
News that the U.S. Federal Reserve and the Treasury Department announced unprecedented steps to save Fannie Mae andFreddie Macwas not enough to stem the Bearish Primary Tide Trend, which is a powerful force that reflects both current and anticipated business and economic conditions.
The breadth of the market was Bearish. The Advance-Decline balance ((A-D) / (A+D)) was -47.79%, the Up-Down Volume balance ((Up-Dn) / (Up+Dn)) was -49.53%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -90.74% on the NYSE. On 7/14/08, the Cumulative Daily Advance-Decline Lines for the NYSE and for the NASDAQ both fell to new 20-month lows, so major breadth trends are down.
The S&P 500 has fallen 13.90% since its rally high close of 1,426.63 on 5/19/08 and 21.52% 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, experiencedtraders are always on the lookout for shorter-term trend changes, which can be sudden and violent.
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
0.42% , PHW , Hardware & Electronics, PHW
9.65% , ATI , ALLEGHENY TECH
14.92% , LVLT , LEVEL 3 COMMUNICATIONS
1.96% , BHH , Internet B2B H, BHH
0.57% , PZI , Micro Cap Zachs, PZI
4.01% , IACI , IAC/INTERACTIVCORP
2.17% , STJ , ST JUDE MEDICAL
3.55% , WMB , WILLIAMS
5.30% , NIHD , NII Holdings, Inc.
5.38% , NOV , NATIONAL OILWELL VARC0
4.07% , RYAAY , Ryanair Holdings plc
0.92% , PXE , Energy Exploration & Prod, PXE
1.29% , GWW , WW GRAINGER
1.92% , PXJ , Oil & Gas, PXJ
2.19% , ISIL , INTERSIL CORP
1.21% , IGE , Natural Resource iS GS, IGE
2.52% , DISCA , Discovery Holding Co.
0.37% , CCE , COCA COLA ENTER
2.89% , BSX , BOSTON SCIENT
0.13% , EWN , Netherlands Index, EWN
1.90% , NE , NOBLE
0.71% , LLY , ELI LILLY
0.57% , FLEX , Flextronics International Ltd
1.16% , TWX , TIME WARNER INC
1.68% , GENZ , GENZYME GEN
3.18% , LUV , SOUTHWEST AIRLS
0.48% , IXC , Energy Global, IXC
3.55% , DE , DEERE & CO
0.74% , TIP , Bond, TIPS, TIP
1.34% , HSY , HERSHEY FOODS
0.47% , SGP , SCHERING PLOUGH
0.37% , OMC , OMNICOM
1.33% , BF.B , BROWN FORMAN STK B
0.67% , EWJ , Japan Index, EWJ
0.74% , VDE , Energy VIPERs, VDE
1.72% , NVLS , NOVELLUS SYS
0.59% , ZMH , ZIMMER HLDGS
0.22% , EMN , EASTMAN CHEM
1.75% , RIG , TRANSOCEAN
1.59% , SLV , Silver Trust iS, SLV
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-0.69% , IAH , Internet Architecture H, IAH
-34.75% , WM , WASHINGTON MUT
-24.78% , FHN , FIRST TENNESSEE
-15.61% , MTB , M&T BANK
-1.22% , PZJ , SmallCap PS Zacks, PZJ
-1.39% , PHJ , Dividend Growth PS, PHJ
-14.71% , NCC , NATIONAL CITY
-6.98% , SAF , SAFECO
-23.20% , ZION , ZIONS
-5.20% , ATVI , Activision Inc.
-17.20% , HBAN , HUNTINGTON
-1.15% , PIC , Insurance, PIC
-5.79% , WMI , WASTE MANAGEMENT
-9.81% , BIG , BIG LOTS
-6.96% , SANM , SANMINA
-4.29% , CSC , COMPUTER SCIENCE
-16.51% , RF , REGIONS FINAN
-11.56% , CC , CIRCUIT CITY STR
-9.56% , ETFC.O , E*TRADE
-6.03% , IYG , Financial Services DJ, IYG
-10.58% , FITB , FIFTH THIRD BANC
-1.17% , ELV , Value Large Cap DJ, ELV
-7.41% , HOT , STARWOOD HOTELS
-1.91% , IWC , Microcap Russell, IWC
-3.64% , SDY , Dividend SPDR, SDY
-1.74% , IWW , Value LargeCap Russell 3000, IWW
-10.10% , CMA , COMERICA
-2.53% , RPV , Value S&P 500, RPV
-6.48% , STT , STATE STREET
-9.36% , USB , US BANCORP
-0.55% , IIH , Internet Infrastructure H, IIH
-1.67% , AW , ALLIED WASTE IND
-3.95% , DVY , Dividend DJ Select, DVY
-2.18% , RZV , Value SmallCap S&P 600, RZV
-8.01% , PNC , PNC FINL SVC
-0.86% , UTH , Utilities H, UTH
-3.56% , ICF , Realty Cohen & Steers, ICF
-4.33% , CTXS , CITRIX SYSTEMS
-0.78% , EWK , Belgium Index, EWK
-6.16% , PEY , Dividend High YieldEquity PS, PEY
Sectors: among the 9 major U.S. sectors, 5 rose and 4 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
1.12% Materials SPDR, XLB
0.68% Health Care SPDR, XLV
0.66% Energy SPDR, XLE
0.45% Industrial SPDR, XLI
0.07% Consumer Staples SPDR, XLP
-0.52% Consumer Discretionary SPDR, XLY
-0.69% Utilities SPDR, XLU
-0.77% Technology SPDR, XLK
-5.14% 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 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 7/14/08, 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 7/14/08, 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 7/14/08, 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 7/11/08, the XLY absolute price and the XLY/SPY Relative Strength Ratio both fell to their lowest levels in 6 months. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially.
Financial (XLF) Bearish, Underweight. On 7/14/08, 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 absolute price fell to its lowest level in 23 months on 7/11/08. Relative Strength Ratio fell to its lowest level in 3 months on 7/8/08. 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 4-year high on 7/14/08. 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 consolidated gains in a narrow-range, Inside Day. On Friday, 7/11/08, oil broke out to a new all-time high, confirming uptrends 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 rose to another new 4-month high, confirming an intermediate-term uptrend. The long-term Primary Tide Trend for Gold remains Bullish.
U.S. Treasury Bond September futures contract bounced up to recover most of its steep loss on Friday, 7/11/08, when it broke previous 4-day lows. This sharp break could signal a short-term downside correction within an intermediate-term uptrend.
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 7/11/08.
The U.S. dollar fell to its lowest closing price in 12-weeks. The short-term trend appears Bearish. Intermediate term, the dollar has been in a choppy sidewaystrading 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 ratios 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 28.48, 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 33.20, 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 0.87, 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 ratios 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 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 500cash index (1,228.30):
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 (1,228.30):
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
2.65% WilderHill Clean Energy PS, PBW
2.28% Oil Services H, OIH
1.99% Short 200% MidCap 400 PS, MZZ
1.98% Metals & Mining SPDR, XME
1.96% Internet B2B H, BHH
1.92% Oil & Gas, PXJ
1.80% Short 200% S&P 500 PS, SDS
1.59% Short 200% QQQ PS, QID
1.59% Silver Trust iS, SLV
1.45% Short 200% Dow 30 PS, DXD
1.21% Natural Resource iS GS, IGE
1.15% Brazil Index, EWZ
1.12% Materials SPDR, XLB
0.99% Short 100% MidCap 400, MYY
0.92% Energy Exploration & Prod, PXE
0.88% Bond, 20+ Years Treasury, TLT
0.82% Short 100% S&P 500, SH
0.80% Latin Am 40, ILF
0.79% Gold Shares S.T., GLD
0.78% Short 100% Dow 30, DOG
0.75% Australia Index, EWA
0.74% Bond, TIPS, TIP
0.74% Energy VIPERs, VDE
0.73% Food & Beverage, PBJ
0.70% Japan LargeCap Blend TOPIX 150, ITF
0.68% Health Care SPDR, XLV
0.67% Japan Index, EWJ
0.66% Energy SPDR, XLE
0.64% Telecommunications & Wireless, PTE
0.64% Short 100% QQQ, PSQ
0.57% Micro Cap Zachs, PZI
0.53% Bond, 10 Year Treasury, IEF
0.53% Canada Index, EWC
0.53% Energy DJ, IYE
0.52% Emerging VIPERs, VWO
0.48% Energy Global, IXC
0.45% Industrial SPDR, XLI
0.43% Pharmaceuticals, PJP
0.42% Hardware & Electronics, PHW
0.39% Pacific VIPERs, VPL
0.33% Singapore Index, EWS
0.30% Basic Materials DJ US, IYM
0.28% Materials VIPERs, VAW
0.26% Pacific ex-Japan, EPP
0.23% Bond, 1-3 Year Treasury, SHY
0.22% Pharmaceutical H, PPH
0.16% Sweden Index, EWD
0.15% Bond, Aggregate, AGG
0.14% Consumer Non-Cyclical, IYK
0.13% Netherlands Index, EWN
0.12% Growth EAFE MSCI, EFG
0.08% Oil, Crude, U.S. Oil Fund, USO
0.07% Consumer Staples SPDR, XLP
0.05% Bond, Corp, LQD
0.05% Growth Mid Cap Dynamic PS, PWJ
0.04% Commodity Tracking, DBC
0.04% Emerging 50 BLDRS, ADRE
0.03% France Index, EWQ
0.00% Value Line Timeliness MidCap Gr, PIV
0.00% United Kingdom Index, EWU
0.00% Malaysia Index, EWM
-0.05% Global Titans, DGT
-0.06% Biotech & Genome, PBE
-0.06% Industrials VIPERs, VIS
-0.08% Growth Large Cap, ELG
-0.12% Emerging Markets, EEM
-0.14% Growth LargeCap Russell 3000, IWZ
-0.17% Germany Index, EWG
-0.19% LargeCap Blend Core iS M, JKD
-0.21% EAFE Index, EFA
-0.22% Switzerland Index, EWL
-0.23% Developed 100 BLDRS, ADRD
-0.24% Value 40 Large Low P/E FT DB, FDV
-0.26% Telecom DJ US, IYZ
-0.29% MidCap Growth iS M, JKH
-0.31% Nanotech Lux, PXN
-0.32% Europe 350 S&P Index, IEV
-0.32% Building & Construction, PKB
-0.33% Growth S&P 500, RPG
-0.33% Consumer Staples VIPERs, VDC
-0.37% Utilities, PUI
-0.37% Growth S&P 500/BARRA, IVW
-0.38% Semiconductor SPDR, XSD
-0.39% EMU Europe Index, EZU
-0.40% Healthcare DJ, IYH
-0.40% Asia 50 BLDRS, ADRA
-0.40% Growth VIPERs, VUG
-0.41% Retail H, RTH
-0.42% Healthcare Global, IXJ
-0.42% Retail, PMR
-0.43% Growth MidCap Russell, IWP
-0.43% South Africa Index, EZA
-0.44% Aerospace & Defense, PPA
-0.45% DIAMONDS (DJIA), DIA
-0.45% Water Resources, PHO
-0.46% Biotechnology, IBB
-0.47% MidCap Blend Core iS M, JKG
-0.48% Consumer D. VIPERs, VCR
-0.48% Lg Cap Growth PSD, PWB
-0.49% Growth LargeCap iS M, JKE
-0.49% Industrial LargeCap Blend DJ US, IYJ
-0.50% European VIPERs, VGK
-0.51% OTC Dynamic PS, PWO
-0.52% Consumer Discretionary SPDR, XLY
-0.53% Consumer Cyclical DJ, IYC
-0.54% Technology MS sT, MTK
-0.55% Internet Infrastructure H, IIH
-0.56% Software H, SWH
-0.57% Spain Index, EWP
-0.60% Euro STOXX 50, FEZ
-0.60% Value EAFE MSCI, EFV
-0.60% Growth BARRA Small Cap 600, IJT
-0.60% Europe 100 BLDRS, ADRU
-0.62% Growth 1000 Russell, IWF
-0.62% Dividend Appreciation Vipers, VIG
-0.67% South Korea Index, EWY
-0.67% Telecommunications Global, IXP
-0.67% Semiconductor H, SMH
-0.69% Internet Architecture H, IAH
-0.69% Utilities SPDR, XLU
-0.69% Broadband H, BDH
-0.72% Growth SmallCap iS M, JKK
-0.73% Value LargeCap NYSE 100 iS, NY
-0.74% Telecom H, TTH
-0.74% Growth LargeCap NASDAQ 100, QQQQ
-0.75% Homebuilders SPDR, XHB
-0.77% Technology SPDR, XLK
-0.77% Growth MidCap 400 B, IJK
-0.78% Belgium Index, EWK
-0.81% Networking, PXQ
-0.81% LargeCap Blend S&P 1500 iS, ISI
-0.81% MidCap S&P 400 SPDRs, MDY
-0.83% IPOs, First Tr IPOX-100, FPX
-0.83% Value LargeCap Euro STOXX 50 DJ, FEU
-0.85% Health Care VIPERs, VHT
-0.85% Biotech SPDR, XBI
-0.86% Utilities H, UTH
-0.87% SmallCap Core iS M, JKJ
-0.88% Growth SmallCap VIPERs, VBK
-0.89% LargeCap Blend NYSE Composite iS, NYC
-0.90% LargeCap Blend S&P 100, OEF
-0.90% Growth MidCap S&P 400, RFG
-0.90% S&P 500 SPDRs LargeCap Blend, SPY
-0.91% MidCap VIPERs, VO
-0.92% Value MidCap Dynamic PS, PWP
-0.92% Growth Small Cap DJ, DSG
-0.93% Software, PSJ
-0.93% Extended Mkt VIPERs, VXF
-0.93% S&P 500 iS LargeCap Blend, IVV
-0.94% Telecom Services VIPERs, VOX
-0.94% LargeCap Blend Dynamic PS, PWC
-0.96% SmallCap S&P 600, IJR
-0.96% Global 100, IOO
-0.97% Taiwan Index, EWT
-0.97% China 25 iS, FXI
-0.98% Blend Total Market VIPERs, VTI
-0.98% LargeCap Blend Russell 3000, IWV
-0.99% MidCap S&P 400 iS, IJH
-1.00% Growth SmallCap R 2000, IWO
-1.00% Value MidCap iS M, JKI
-1.03% Italy Index, EWI
-1.03% Hong Kong Index, EWH
-1.04% LargeCap Rydex Rus Top 50, XLG
-1.04% Technology GS, IGM
-1.04% Utilities DJ, IDU
-1.05% Mexico Index, EWW
-1.06% Leisure & Entertainment, PEJ
-1.07% LargeCap 1000 R, IWB
-1.08% Technology Global, IXN
-1.08% Growth LargeCap NASDAQ Fidelity, ONEQ
-1.10% LargeCap Blend Total Market DJ, IYY
-1.10% LargeCap VIPERs, VV
-1.11% China LargeCap Growth G D H USX PS, PGJ
-1.12% Value Small Cap DJ, DSV
-1.12% Technology DJ US, IYW
-1.15% Insurance, PIC
-1.17% Value Large Cap DJ, ELV
-1.17% MidCap Russell, IWR
-1.18% Utilities VIPERs, VPU
-1.22% SmallCap PS Zacks, PZJ
-1.22% Transportation Av DJ, IYT
-1.22% Value VIPERs, VTV
-1.22% Semiconductor iS GS, IGW
-1.27% Small Cap VIPERs, VB
-1.28% Dividend Achievers PS, PFM
-1.34% Value 1000 Russell, IWD
-1.37% Austria Index, EWO
-1.39% Dividend Growth PS, PHJ
-1.39% Ultra Dow30 Double, DDM
-1.41% Software, IGV
-1.44% Wilshire 5000 ST TM, TMW
-1.44% Biotech H, BBH
-1.45% Ultra QQQ Double, QLD
-1.46% LargeCap Blend Socially Responsible iS, KLD
-1.49% Value MidCap S&P 400 B, IJJ
-1.50% Growth SmallCap Dynamic PS, PWT
-1.52% Value LargeCap Fundamental RAFI 1000, PRF
-1.57% Value LargeCap Dynamic PS, PWV
-1.58% Value S&P 500 B, IVE
-1.60% Info Tech VIPERs, VGT
-1.61% Dividend International, PID
-1.65% SmallCap Russell 2000, IWM
-1.66% Semiconductors, PSI
-1.72% Financials Global LargeCap Value, IXG
-1.74% Networking, IGN
-1.74% Value LargeCap Russell 3000, IWW
-1.76% Value SmallCap Russell 2000, IWN
-1.80% LargeCap Blend S&P=Weight R, RSP
-1.83% Value SmallCap S&P 600 B, IJS
-1.86% Value LargeCap iS M, JKF
-1.89% Value MidCap Russell, IWS
-1.91% Microcap Russell, IWC
-1.96% Ultra MidCap400 Double, MVV
-1.98% Value SmallCap Dynamic PS, PWY
-2.02% Value MidCap S&P 400, RFV
-2.09% Value SmallCap VIPERS, VBR
-2.17% Ultra S&P500 Double, SSO
-2.18% Value SmallCap S&P 600, RZV
-2.52% Value SmallCap iS M, JKL
-2.53% Value S&P 500, RPV
-2.96% Internet H, HHH
-3.31% Dividend Leaders, FDL
-3.48% REIT VIPERs, VNQ
-3.48% Real Estate US DJ, IYR
-3.56% Realty Cohen & Steers, ICF
-3.64% Dividend SPDR, SDY
-3.77% REIT Wilshire, RWR
-3.95% Dividend DJ Select, DVY
-4.45% Capital Markets KWB ST, KCE
-4.67% Financials VIPERs, VFH
-4.82% Financial DJ US, IYF
-5.14% Financial SPDR, XLF
-6.03% Financial Services DJ, IYG
-6.16% Dividend High Yield Equity PS, PEY
-7.23% Bank Regional H, RKH
