by Robert W. Colby, Senior Analyst TraderPlanet.com
Stock Market: 8 of 9 Sectors fell, with Technology weakest.
The Standard & Poor’s 500 gave back nearly all of Thursday’s gain to close lower for the week.
The Nasdaq 100/S&P 500 Relative Strength Ratio fell to new 3-week lows and has underperformed since 8/14/08.
TechnologyStock Sector Relative Strength Ratio fell to new 3-week lows and has underperformed since 8/18/08.
Growth Stock/Value StockRelative Strength Ratio fell to a new 3-week low, and the short-term trend is down.
Reward/Risk tradeoffs for equities in general still do not appear attractive. Seasonal tendencies for the month of September are unfavorable.
On Friday, the Standard & Poor’s 500 cash index (1,282.83) fell 17.85 points, or 1.37%, closing modestly lower for the week. The index closed near the low of the day and below the previous day’s low, somewhat negative signs for the short-term trend, particularly when assuming a Primary Tide Bear Market.
Total NYSE volume fell 14%, reflecting diminished demand for stocks. Volume has remained stuck at relatively low summer vacation season levels all month, but that low volume trend may be ending soon.
The S&P 500 remains below the 5-week uptrend line that formed the lower boundary line of a Bearish Rising Wedge that formed from the low of 1,200.44 set on 7/15/2008 to the high of 1313.15 set on 8/11/2008. Volume was in a declining trend during those weeks, and that is typical of the Bearish Rising Wedge pattern. A Bearish Rising Wedge is a typical pattern for a counter-trend oversold bounce in a Bear Market. The implication of such a Bearish Rising Wedge breakdown is that the S&P should test or break its low of 1,200.44 set on 7/15/2008.
Longer-term, the S&P 500 has been in a Bearish downtrend since the intraday high of 1,576.09 on 10/11/2007.
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
10.57% , PETM , PETsMART Inc
6.99% , NOVL , NOVELL
1.09% , EWO , Austria Index, EWO
1.27% , EWK , Belgium Index, EWK
5.14% , SUN , SUNOCO
6.09% , LIZ , LIZ CLAIRBORNE
1.85% , PSQ , Short 100% QQQ, PSQ
1.02% , MYY , Short 100% MidCap 400, MYY
2.89% , ETFC.O , E*TRADE Financial
1.60% , HAS , HASBRO
3.25% , QID , Short 200% QQQ PS, QID
3.02% , MER , MERRILL LYNCH
3.92% , RF , REGIONS FINAN
1.46% , BDK , BLACK & DECKER
2.67% , BBT , BB&T
0.76% , WPI , WATSON PHARM
0.96% , BNI , BURLINGTON NORTH
0.84% , CTB , COOPER TIRE
4.65% , WM , WASHINGTON MUT
2.56% , FHN , FIRST TENNESSEE
0.64% , AMD , ADV MICRO DEV
1.30% , UNH , UNITEDHEALTH GRP
0.14% , ELV , Value Large Cap DJ, ELV
1.40% , JWN , NORDSTROM
0.65% , ACE , ACE
1.21% , SH , Short 100% S&P 500, SH
1.20% , NCC , NATIONAL CITY
0.74% , TWX , TIME WARNER INC
1.84% , DRI , DARDEN REST
0.30% , PTV , PACTIV
0.09% , EWJ , Japan Index, EWJ
0.19% , UNP , UNION PACIFIC
0.07% , WYE , WYETH
2.83% , PHM , PULTE HOMES
0.04% , KSU , Kansas City Southern, KSU
0.22% , BC , BRUNSWICK
0.05% , SHY , Bond, 1-3 Year Treasury, SHY
0.57% , RHT , Red Hat Inc.
0.00% , VFH , Financials VIPERs, VFH
-0.81% , CHKP , Check Point Software Technologies Ltd
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-1.67% , UTH , Utilities H, UTH
-13.80% , DELL , DELL
-1.00% , VB ,Small CapVIPERs, VB
-2.75% , IAH , Internet Architecture H, IAH
-1.33% , IWZ , Growth LargeCap Russell 3000, IWZ
-0.68% , RFG , Growth MidCap S&P 400, RFG
-1.98% , XRAY , DENTSPLY International Inc
-5.19% , KLAC , KLA TENCOR
-0.97% , VO , MidCap VIPERs, VO
-0.66% , VBK , Growth SmallCap VIPERs, VBK
-1.37% , PKB , Building & Construction, PKB
-0.83% , RSP , LargeCap Blend S&P=Weight R, RSP
-0.67% , RFV , Value MidCap S&P 400, RFV
-1.47% , IXN , Technology Global, IXN
-1.63% , PHW , Hardware & Electronics, PHW
-3.14% , AMAT , APPLIED MATERIAL
-1.00% , PWO , OTC Dynamic PS, PWO
-2.19% , IGM , Technology GS, IGM
-5.35% , ADSK , AUTODESK
-3.14% , ORCL , ORACLE
-2.22% , MON , MONSANTO
-5.81% , LSI , LSI LOGIC
-3.34% , ADBE , ADOBE SYS
-3.05% , INTC , INTEL
-2.33% , IYW , Technology DJ US, IYW
-1.73% , PSI , Semiconductors, PSI
-2.63% , SBUX , STARBUCKS
-1.69% , HMA , HEALTH MGMT STK A
-0.33% , BBH , Biotech H, BBH
-2.80% , PPL , PPL
-0.59% , PHJ ,Dividend Growth PS, PHJ
-0.75% , PEJ , Leisure & Entertainment, PEJ
-0.64% , FEU , Value LargeCap Euro STOXX 50 DJ, FEU
-3.81% , NVDA , NVIDIA
-2.23% , XLK , Technology SPDR, XLK
-3.41% , BRCM , BROADCOM STK A
-2.26% , SMH , Semiconductor H, SMH
-0.78% , VCR , Consumer D. VIPERs, VCR
-2.66% , ETR , ENTERGY
-4.40% , MRVL , MARVELL TECHNOLOGY
Sectors: among the 9 major U.S. sectors, 1rose and 8 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
0.14% Financial SPDR, XLF
-0.47% Energy SPDR, XLE
-0.67% Materials SPDR, XLB
-0.99% Consumer Staples SPDR, XLP
-1.09% Health Care SPDR, XLV
-1.10% Industrial SPDR, XLI
-1.13% Consumer Discretionary SPDR, XLY
-1.39% Utilities SPDR, XLU
-2.23% Technology SPDR, XLK
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):
Consumer Staples (XLP) Neutral, Market Weight. On 8/12/08, XLP /SPY Relative Strength Ratio rose to another new 5-year high, again confirming that the long-term trend is up.
Health Care (XLV) Neutral, Market Weight. On 8/19/08, the XLV/SPY Relative Strength Ratio moved up to a new 7-month high, confirming an intermediate-term upside correction.
Energy (XLE) Neutral, Market Weight. On 8/21/08, both the XLE absolute price and the XLE/SPY Relative Strength Ratio rose to new 3-week highs, thereby suggesting some improvement in the short-term trend.
Materials (XLB) Neutral, Market Weight. On 8/21/08, both the XLB absolute price and the XLB/SPY Relative Strength Ratio rose to new 3-week highs, thereby suggesting some improvement in the short-term trend.
Industrial (XLI) Bearish, Underweight. On 8/20/08, XLI/SPY Relative Strength Ratio broke down to a new 3-week low. On 7/2/08, XLI/SPY Relative Strength broke down to a new 5-month low.
Technology (XLK) Bearish, Underweight. XLK/SPY Relative Strength Ratio fell to new 3-week lows on 8/29/08, has underperformed since 8/18/08, and performed about in line with the broader market over the past 6 years.
Utilities (XLU) Bearish, Underweight. On 8/21/08, both the XLU absolute price and the XLU /SPY Relative Strength Ratio rose to new 3-week highs, thereby suggesting at least a short-term rally. But on 8/15/08, XLU/SPY Relative Strength Ratio broke down to a new 4-month low, confirming an intermediate-term downside correction.
Consumer Discretionary (XLY) Bearish, Underweight. On 7/15/08, XLY absolute price fell to its lowest level in 5 years. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially.
Financial (XLF) Bearish, Underweight. On 7/15/08, the XLF absolute price and the XLF/SPY Relative Strength Ratio both fell to their lowest level in 8 years, again confirming a Bearish Primary Tide Trend. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially.
Foreign stock index EFA Relative Strength Ratio fell to a new 26-month low on 8/15/08 and has been in a falling trend since 5/23/08. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.
NASDAQ Composite price broke an uptrend line on 8/21/08. Relative Strength Ratio had been in a rising trend since 3/3/08 but has turned moderately lower since topping on 8/14/08.
Growth Stock/Value Stock Relative Strength Ratio fell to a new 3-week low on 8/29/08. The short-term trend is down. Longer term, this ratio (IWF/IWD) has been in an uptrend since 8/8/06, and it rose to a new 4-year high on 7/15/08.
The Small Cap/Large Cap Relative Strength Ratio turned down after making a new 27-month high on 8/14/08. The long-term trend has been Bullish most of the time since 4/8/99.
Crude Oil futures contract price eased slightly lower. Nevertheless, the short-term trend may have bottomed on 8/19/08, following oversold conditions. The intermediate-term trend appears uncertain. The long-term trend remains Bullish. 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 futures contract eased modestly lower, this after closing higher 3 days in a row. Gold’s short-term trend could be in the process of turning up. Gold has been in an intermediate-term downtrend since the peak of 1033.90 on 3/17/08. Gold has been in a long-term uptrend since 8/25/1999.
Gold Mining stocks continue to underperform Gold futures on a major trend basis.
U.S. Treasury Bond futures contract price fell below the previous day’s low. On 8/25/08, price jumped up to a new 4-month high, and the short-term trend was confirmed as Bullish. Bonds have been in an intermediate-term uptrend since 6/13/08. Long term, Bonds have been in a neutral sideways trend since June 2003.
iShares iBoxx $ Invest Grade Corp Bond (LQD) ETF fell again. On 8/28/08, LQD/TLT Relative Strength Ratio broke down to another new 5-month low, again confirming short-and intermediate-term Bearish trends. The long-term trend is also Bearish.
The U.S. dollar moved modestly higher, this 3 days after scoring a new 8-month price high. The short-term trend is up, and the intermediate-term trend direction remains up. The long-term trend remains 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 39.3% Bulls versus 39.3% Bears as of 8/29/2008, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio fell to 1.00, down from 1.06 the previous week. The low of 0.57 on 7/16/08 was 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.
VIX Fear Index, now at 20.65, indicates falling Fear since the peak at 28.48 on 7/14/08. Previously, 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 24.02, indicates falling Fear since the peak at 33.20 on 7/14/08. 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 0.68, which indicates neutral 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 1.32, which indicates moderately 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 and seem likely to stay weak over the next several months.
The Dow Theory confirmed a Primary Tide 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.
The breadth of the market has been in a relatively Bearish trend long term since June 2007. The number of New Lows has exceeded the number of New Highs most days for more than a year, since July 2007, and that is one sign of a Bear Market. On 7/15/08, the Cumulative Daily Advance-Decline Lines for the NYSE and for the NASDAQ both fell to new 20-month lows, so major breadth trends remain Bearish.
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 (1,282.83):
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
1,366.59, high of 6/17/2008
1,335.63, high of 6/25/2008
1,313.15 high of 8/11/2008
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 (1,282.83):
Potential Support
1,200.44, low of 7/15/2008
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
3.25% Short 200% QQQ PS, QID
2.31% Short 200% Dow 30 PS, DXD
1.94% Short 200% S&P 500 PS, SDS
1.85% Short 100% QQQ, PSQ
1.85% Short 200% MidCap 400 PS, MZZ
1.39% Short 100% Dow 30, DOG
1.27% Belgium Index, EWK
1.21% Short 100% S&P 500, SH
1.09% Austria Index, EWO
1.09% Malaysia Index, EWM
1.02% Short 100% MidCap 400, MYY
0.93% Emerging 50 BLDRS, ADRE
0.50% Japan LargeCap Blend TOPIX 150, ITF
0.22% EMU Europe Index, EZU
0.20% Homebuilders SPDR, XHB
0.20% Dividend High Yield Equity PS, PEY
0.14% Value Large Cap DJ, ELV
0.14% Financial SPDR, XLF
0.09% Japan Index, EWJ
0.07% Pacific VIPERs, VPL
0.05% Bond, 1-3 Year Treasury, SHY
0.00% Financials VIPERs, VFH
-0.03% Bond, Aggregate, AGG
-0.06% IPOs, First Tr IPOX-100, FPX
-0.12% Bond, 10 Year Treasury, IEF
-0.17% China LargeCap Growth G D H USX PS, PGJ
-0.19% Dividend Leaders, FDL
-0.20% France Index, EWQ
-0.20% Bond, Corp, LQD
-0.22% Growth EAFE MSCI, EFG
-0.23% Value LargeCap NYSE 100 iS, NY
-0.24% Capital Markets KWB ST, KCE
-0.26% Financial Services DJ, IYG
-0.27% Financials Global LargeCap Value, IXG
-0.28% Insurance, PIC
-0.28% Financial DJ US, IYF
-0.29% Bond, TIPS, TIP
-0.30% EAFE Index, EFA
-0.32% Value MidCap iS M, JKI
-0.33% Bank Regional H, RKH
-0.33% Biotech H, BBH
-0.35% Asia 50 BLDRS, ADRA
-0.36% Italy Index, EWI
-0.37% Commodity Tracking, DBC
-0.37% Dividend DJ Select, DVY
-0.41% European VIPERs, VGK
-0.42% Value EAFE MSCI, EFV
-0.44% Singapore Index, EWS
-0.45% Bond, 20+ Years Treasury, TLT
-0.47% Dividend International, PID
-0.47% Energy SPDR, XLE
-0.47% Dividend SPDR, SDY
-0.47% Euro STOXX 50, FEZ
-0.49% LargeCap Blend NYSE Composite iS, NYC
-0.50% SmallCap Core iS M, JKJ
-0.52% Value S&P 500, RPV
-0.52% Switzerland Index, EWL
-0.54% Germany Index, EWG
-0.55% Mexico Index, EWW
-0.56% Spain Index, EWP
-0.56% Oil, Crude, U.S. Oil Fund, USO
-0.57% Gold Shares S.T., GLD
-0.57% Transportation Av DJ, IYT
-0.58% Australia Index, EWA
-0.59% Dividend Growth PS, PHJ
-0.59% LargeCap Blend Socially Responsible iS, KLD
-0.59% Water Resources, PHO
-0.59% Dividend Achievers PS, PFM
-0.59% Energy Global, IXC
-0.61% Europe 350 S&P Index, IEV
-0.63% Pacific ex-Japan, EPP
-0.64% Value LargeCap Euro STOXX 50 DJ, FEU
-0.66% Growth SmallCap VIPERs, VBK
-0.66% Value Small Cap DJ, DSV
-0.66% Telecom DJ US, IYZ
-0.67% Value SmallCap VIPERS, VBR
-0.67% Value MidCap S&P 400, RFV
-0.67% Materials SPDR, XLB
-0.68% SmallCap PS Zacks, PZJ
-0.68% Retail, PMR
-0.68% Growth MidCap S&P 400, RFG
-0.69% REIT VIPERs, VNQ
-0.69% Developed 100 BLDRS, ADRD
-0.71% Biotech & Genome, PBE
-0.73% Value LargeCap iS M, JKF
-0.75% Value MidCap Dynamic PS, PWP
-0.75% Leisure & Entertainment, PEJ
-0.75% WilderHill Clean Energy PS, PBW
-0.77% Telecommunications Global, IXP
-0.77% Biotechnology, IBB
-0.78% Consumer D. VIPERs, VCR
-0.78% Nanotech Lux, PXN
-0.79% Consumer Cyclical DJ, IYC
-0.80% Growth SmallCap Dynamic PS, PWT
-0.81% Europe 100 BLDRS, ADRU
-0.83% United Kingdom Index, EWU
-0.83% LargeCap Blend S&P=Weight R, RSP
-0.85% Energy Exploration & Prod, PXE
-0.86% SmallCap Russell 2000, IWM
-0.87% Value VIPERs, VTV
-0.88% Pharmaceuticals, PJP
-0.89% Telecommunications & Wireless, PTE
-0.90% Value 1000 Russell, IWD
-0.90% Netherlands Index, EWN
-0.91% Value SmallCap iS M, JKL
-0.92% Value SmallCap Russell 2000, IWN
-0.93% Value S&P 500 B, IVE
-0.93% MidCap Blend Core iS M, JKG
-0.93% Value SmallCap S&P 600, RZV
-0.94% Value LargeCap Russell 3000, IWW
-0.94% Global 100, IOO
-0.95% Value SmallCap Dynamic PS, PWY
-0.97% Realty Cohen & Steers, ICF
-0.97% Wilshire 5000 ST TM, TMW
-0.97% Microcap Russell, IWC
-0.97% MidCap VIPERs, VO
-0.97% Value LargeCap Fundamental RAFI 1000, PRF
-0.98% Extended Mkt VIPERs, VXF
-0.98% Growth SmallCap R 2000, IWO
-0.98% Value SmallCap S&P 600 B, IJS
-0.99% Consumer Staples SPDR, XLP
-0.99% Healthcare Global, IXJ
-0.99% Consumer Non-Cyclical, IYK
-0.99% Latin Am 40, ILF
-0.99% Natural Resource iS GS, IGE
-1.00% OTC Dynamic PS, PWO
-1.00% Small Cap VIPERs, VB
-1.01% SmallCap S&P 600, IJR
-1.01% REIT Wilshire, RWR
-1.01% LargeCap Blend S&P 1500 iS, ISI
-1.02% MidCap S&P 400 SPDRs, MDY
-1.03% Healthcare DJ, IYH
-1.03% Value MidCap Russell, IWS
-1.04% Basic Materials DJ US, IYM
-1.04% Value LargeCap Dynamic PS, PWV
-1.04% Pharmaceutical H, PPH
-1.04% Value Line Timeliness MidCap Gr, PIV
-1.06% LargeCap Blend Core iS M, JKD
-1.06% Hong Kong Index, EWH
-1.06% Health Care VIPERs, VHT
-1.07% MidCap S&P 400 iS, IJH
-1.08% S&P 500 SPDRs LargeCap Blend, SPY
-1.09% Metals & Mining SPDR, XME
-1.09% Health Care SPDR, XLV
-1.10% Industrial SPDR, XLI
-1.12% Telecom Services VIPERs, VOX
-1.12% Growth S&P 500, RPG
-1.12% Real Estate US DJ, IYR
-1.12% Retail H, RTH
-1.13% Growth MidCap 400 B, IJK
-1.13% Emerging VIPERs, VWO
-1.13% Consumer Discretionary SPDR, XLY
-1.15% Energy DJ, IYE
-1.15% Materials VIPERs, VAW
-1.16% Consumer Staples VIPERs, VDC
-1.16% LargeCap Blend Dynamic PS, PWC
-1.17% LargeCap Blend Russell 3000, IWV
-1.17% Lg Cap Growth PSD, PWB
-1.17% Value MidCap S&P 400 B, IJJ
-1.17% Canada Index, EWC
-1.18% Telecom H, TTH
-1.18% LargeCap Blend Total Market DJ, IYY
-1.18% Emerging Markets, EEM
-1.19% Growth Small Cap DJ, DSG
-1.19% Dividend Appreciation Vipers, VIG
-1.19% Growth BARRA Small Cap 600, IJT
-1.19% Growth MidCap Russell, IWP
-1.21% LargeCap 1000 R, IWB
-1.21% Biotech SPDR, XBI
-1.21% Energy VIPERs, VDE
-1.23% S&P 500 iS LargeCap Blend, IVV
-1.25% MidCap Russell, IWR
-1.25% Brazil Index, EWZ
-1.25% Growth Large Cap, ELG
-1.27% Aerospace & Defense, PPA
-1.28% Industrial LargeCap Blend DJ US, IYJ
-1.28% Growth SmallCap iS M, JKK
-1.31% LargeCap Blend S&P 100, OEF
-1.31% LargeCap Rydex Rus Top 50, XLG
-1.31% Blend Total Market VIPERs, VTI
-1.33% South Africa Index, EZA
-1.33% Growth LargeCap Russell 3000, IWZ
-1.33% Silver Trust iS, SLV
-1.33% Industrials VIPERs, VIS
-1.34% MidCap Growth iS M, JKH
-1.34% China 25 iS, FXI
-1.36% Software, PSJ
-1.36% Growth Mid Cap Dynamic PS, PWJ
-1.37% Oil & Gas, PXJ
-1.37% Building & Construction, PKB
-1.39% Utilities SPDR, XLU
-1.39% Growth 1000 Russell, IWF
-1.39% Micro Cap Zachs, PZI
-1.40% Utilities, PUI
-1.42% Networking, PXQ
-1.42% Food & Beverage, PBJ
-1.42% Growth VIPERs, VUG
-1.43% Growth LargeCap iS M, JKE
-1.43% DIAMONDS (DJIA), DIA
-1.44% LargeCap VIPERs, VV
-1.47% Growth S&P 500/BARRA, IVW
-1.47% Technology Global, IXN
-1.52% Utilities DJ, IDU
-1.53% Internet Infrastructure H, IIH
-1.57% Info Tech VIPERs, VGT
-1.57% Internet H, HHH
-1.57% Utilities VIPERs, VPU
-1.58% Software H, SWH
-1.60% Value 40 Large Low P/E FT DB, FDV
-1.63% Hardware & Electronics, PHW
-1.66% Global Titans, DGT
-1.67% Utilities H, UTH
-1.68% Oil Services H, OIH
-1.73% Semiconductors, PSI
-1.77% Networking, IGN
-1.84% Growth LargeCap NASDAQ Fidelity, ONEQ
-1.91% Software, IGV
-1.98% Semiconductor SPDR, XSD
-2.02% South Korea Index, EWY
-2.02% Broadband H, BDH
-2.10% Sweden Index, EWD
-2.10% Ultra MidCap400 Double, MVV
-2.10% Growth LargeCap NASDAQ 100, QQQQ
-2.12% Ultra S&P500 Double, SSO
-2.18% Taiwan Index, EWT
-2.19% Technology GS, IGM
-2.23% Semiconductor iS GS, IGW
-2.23% Technology SPDR, XLK
-2.26% Semiconductor H, SMH
-2.29% Technology MS sT, MTK
-2.33% Technology DJ US, IYW
-2.66% Ultra Dow30 Double, DDM
-2.75% Internet Architecture H, IAH
-3.14% Ultra QQQ Double, QLD
-3.51% Internet B2B H, BHH
