Daily Stock Market Commentary – 9/05/2008

Stock Market: extreme weakness.

Stock Sectors breaking down: Materials, Utilities, and Energy broke down to new 7-month price lows. Technology broke down to a new 6-month price low. Industrial broke down to a new 7-week price low.

Foreign stock index broke down to a new 30-month price low.

NASDAQ Composite index broke down to a new 5-week price low

Growth Stock/Value Stock Relative Strength Ratio fell to another new 3-month low.

Seasonal tendencies for the month of September are unfavorable.

Reward/Risk tradeoffs for equities in general still appear unattractive.

U.S. TreasuryBondpricesjumped up to another new 5-month high.

The Corporate Bond/Treasury Bond Relative Strength Ratio broke down to another new multi-year low, again confirming a significant shift to safety. Bond investors are seriously concerned about the economic outlook.

The TIPS/Treasury Bond Relative Strength Ratio broke down to a new multi-year low, again confirming that the short-term, intermediate-term, and long-term trends all are Bearish. Bond investors are not concerned about the inflation outlook.

The U.S. dollar rose to another new 11-month price high.

On Thursday, stocks opened lower, fell below the lows of the previous 3 weeks, and continued to plunge steeply. Stocks closed very weakly, near the lows of the day. The Standard & Poor’s 500 cash index (1,236.83) closed down 38.15 points, or 2.99%. It was the weakest one-day performance in 3 months. Total NYSE volume rose 2%, indicating greater selling pressure on stocks. The trend is clearly Bearish for the short term.

For the intermediate-term, the S&P 500 closed at a new 5-week low. It 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. That appears even more probable after Thursday’s extreme weakness.

Long-term, the S&P 500 has been in a Primary Tide Bear Market 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
3.10% , SH , Short 100% S&P 500, SH
5.83% , DXD , Short 200% Dow 30 PS, DXD
2.57% , MYY , Short 100% MidCap 400, MYY
5.82% , SDS , Short 200% S&P 500 PS, SDS
5.12% , MZZ , Short 200% MidCap 400 PS, MZZ
1.39% , CLX , CLOROX
0.81% , PMCS , PMC SIERRA
3.08% , FDO , FAMILY DLR STRS
6.07% , QID , Short 200% QQQ PS, QID
1.79% , CEPH , Cephalon Inc
0.31% , MHS , MEDCO HEALTH
5.46% , KG , KING PHARM
0.80% , TLT , Bond, 20+ Years Treasury, TLT
2.37% , APA , APACHE
0.31% , GIS , GENERAL MILLS
1.53% , AYE , ALLEGHENY ENERGY
0.99% , DUK , DUKE ENERGY
0.41% , ACV , Alberto-Culver Co.
0.25% , DELL , DELL
0.50% , IEF , Bond, 10 Year Treasury, IEF
0.15% , CMS , CMS ENERGY
0.24% , LNCR , Lincare Holdings Inc
0.03% , LQD , Bond, Corp, LQD
0.10% , KO , COCA COLA
0.06% , CNP , CENTERPNT ENERGY

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-24.90% , CIEN.O , CIENA
-7.87% , IIH , Internet Infrastructure H, IIH
-3.27% , PTE , Telecommunications & Wireless, PTE
-5.39% , EWK , Belgium Index, EWK
-10.14% , VRSN , VeriSign Inc
-2.64% , SWH , Software H, SWH
-5.74% , EWA , Australia Index, EWA
-2.10% , PBJ , Food & Beverage, PBJ
-6.67% , PMTC.O , PARAMETRIC
-8.25% , CMA , COMERICA
-2.93% , IYY , LargeCap Blend Total Market DJ, IYY
-6.45% , GD , GENERAL DYNAMICS
-5.00% , EWT , Taiwan Index, EWT
-9.75% , JBL , JABIL CIRCUIT
-2.57% , JKL , Value SmallCap iS M, JKL
-10.07% , LM , LEGG MASON
-3.38% , PSI , Semiconductors, PSI
-3.14% , DGT , Global Titans, DGT
-8.30% , DLX , DELUXE
-4.17% , EWH , Hong Kong Index, EWH
-5.46% , UNH , UNITEDHEALTH GRP
-2.56% , FDV , Value 40 Large Low P/E FT DB, FDV
-3.69% , PIV , Value Line Timeliness MidCap Gr, PIV
-5.43% , EWS , Singapore Index, EWS
-6.40% , ADM , ARCHER DANIELS
-3.12% , PSJ , Software, PSJ
-4.85% , WLP , WELLPOINT HEALTH
-3.23% , PKI , PERKINELMER
-3.42% , PXN , Nanotech Lux, PXN
-3.27% , VBK , Growth SmallCap VIPERs, VBK
-2.20% , XLV , Health Care SPDR, XLV
-6.25% , EMC , EMC
-7.24% , IGT , INTL GAME TECH
-5.95% , ORCL , ORACLE
-7.39% , TJX , TJX
-5.38% , YHOO , YAHOO
-3.01% , XLG , LargeCap Rydex Rus Top 50, XLG
-9.60% , WB , WACHOVIA
-4.15% , TMO , THERMO ELECTRON
-4.82% , IGN , Networking, IGN

Sectors: among the 9 major U.S. sectors, all 9 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
-0.64% Consumer Staples SPDR, XLP
-1.26% Utilities SPDR, XLU
-2.20% Health Care SPDR, XLV
-2.25% Energy SPDR, XLE
-3.33% Consumer Discretionary SPDR, XLY
-3.43% Industrial SPDR, XLI
-3.55% Materials SPDR, XLB
-3.58% Technology SPDR, XLK
-4.90%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):

Consumer Staples (XLP) Neutral, Market Weight. On 9/4/08, 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.

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.

Industrial (XLI) Bearish, Underweight. On 9/4/08, the XLI absolute price fell to a new 7-week low, indicating intermediate-term trend weakness.

Materials (XLB) Bearish, Underweight.On 9/4/08, the XLB absolute price fell to a new 7-month low, indicating significant trend weakness.

Utilities (XLU) Bearish, Underweight. On 9/4/08, the XLU absolute price fell to a new 7-month low, indicating significant trend weakness.

Energy (XLE) Bearish, Underweight. On 9/4/08, the XLE absolute price fell to a new 7-month low, indicating significant trend weakness.

Technology (XLK) Bearish, Underweight. On 9/4/08, the XLK absolute price fell to a new 6-month low, indicating significant trend weakness.

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 30-month low on 9/4/08 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 remains Bearish. On 9/4/08, absolute price broke down to a new 5-week low, indicating intermediate-term trend weakness. Relative Strength Ratio has been in a declining trend since 8/14/08.

Growth Stock/Value Stock Relative Strength Ratio fell to another new 3-month low on 9/3/08. The short-term trend remains 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 has been rising since 8/21/08. The long-term trend has been Bullish most of the time since 4/8/99.

Crudeoil Futurescontract price fell moderately but held above its low of 9/2/08. On 9/2/08, oil plunged to a new 5-month low. The short-term and intermediate-term trends are Bearish, but the long-term trend still might be 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 price fell again. Gold’s short-term trend remains Bearish. 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 jumped up to another new 5-month high. The short-term trend was confirmed as Bullish once again. 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 $ investGrade Corp Bond (LQD) ETF fell again. On 9/4/08, LQD/TLT Relative Strength Ratio broke down to another new multi-year low, again confirming that the short-term, intermediate-term, and long-term trends all are Bearish. Bond investors are seriously concerned about the economic outlook.

iShares Lehman TIPS Bond (TIP) ETF fell again. On 9/4/08, TIP/TLT Relative Strength Ratio broke down to a new multi-year low, again confirming again that the short-term, intermediate-term, and long-term trends all are Bearish. Bond investors are not concerned about the inflation outlook.

The U.S. dollar rose to another new 11-month price high. The short-term and intermediate-term trends remain Bullish, but the long-term trend still might be 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 24.03, still indicates relatively low 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 27.56, still indicates relatively low 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 0.44, 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 1.27, 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 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 (1,236.83):

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 (1,236.83):

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

6.07% Short 200% QQQ PS, QID
5.83% Short 200% Dow 30 PS, DXD
5.82% Short 200% S&P 500 PS, SDS
5.12% Short 200% MidCap 400 PS, MZZ
3.16% Short 100% QQQ, PSQ
3.10% Short 100% S&P 500, SH
3.01% Short 100% Dow 30, DOG
2.57% Short 100% MidCap 400, MYY
1.80% Internet B2B H, BHH
0.80% Bond, 20+ Years Treasury, TLT
0.50% Bond, 10 Year Treasury, IEF
0.37% Bond, Aggregate, AGG
0.06% Bond, 1-3 Year Treasury, SHY
0.03% Bond, Corp, LQD
-0.15% Bond, TIPS, TIP
-0.63% Gold Shares S.T., GLD
-0.64% Consumer Staples SPDR, XLP
-0.88% South Korea Index, EWY
-0.95% Silver Trust iS, SLV
-1.02% Utilities H, UTH
-1.10% Utilities, PUI
-1.15% Utilities DJ, IDU
-1.21% Consumer Staples VIPERs, VDC
-1.25% Utilities VIPERs, VPU
-1.26% Utilities SPDR, XLU
-1.41% Pharmaceutical H, PPH
-1.42% Commodity Tracking, DBC
-1.49% Energy Exploration & Prod, PXE
-1.53% Value MidCap S&P 400, RFV
-1.61% Oil, Crude, U.S. Oil Fund, USO
-1.64% Consumer Non-Cyclical, IYK
-1.66% Malaysia Index, EWM
-1.68% Oil Services H, OIH
-1.92% Pharmaceuticals, PJP
-2.01% Insurance, PIC
-2.01% Mexico Index, EWW
-2.02% Internet Architecture H, IAH
-2.04% Growth MidCap S&P 400, RFG
-2.10% Food & Beverage, PBJ
-2.13% Broadband H, BDH
-2.17% Energy DJ, IYE
-2.19% Value Large Cap DJ, ELV
-2.20% Health Care SPDR, XLV
-2.23% Oil & Gas, PXJ
-2.25% Energy SPDR, XLE
-2.26% Wilshire 5000 ST TM, TMW
-2.30% LargeCap Blend Socially Responsible iS, KLD
-2.32% Biotech H, BBH
-2.33% Health Care VIPERs, VHT
-2.33% Growth MidCap 400 B, IJK
-2.37% Dividend Achievers PS, PFM
-2.38% IPOs, First Tr IPOX-100, FPX
-2.39% Energy VIPERs, VDE
-2.42% Consumer Cyclical DJ, IYC
-2.42% Value MidCap iS M, JKI
-2.44% Natural Resource iS GS, IGE
-2.45% MidCap S&P 400 SPDRs, MDY
-2.49% Dividend Appreciation Vipers, VIG
-2.51% Healthcare DJ, IYH
-2.52% Value SmallCap VIPERS, VBR
-2.52% OTC Dynamic PS, PWO
-2.53% MidCap S&P 400 iS, IJH
-2.56% Growth S&P 500, RPG
-2.56% Value 40 Large Low P/E FT DB, FDV
-2.57% Value SmallCap iS M, JKL
-2.58% Value Small Cap DJ, DSV
-2.58% Value MidCap Dynamic PS, PWP
-2.59% LargeCap Blend Core iS M, JKD
-2.60% SmallCap Core iS M, JKJ
-2.60% Value MidCap S&P 400 B, IJJ
-2.60% Growth 1000 Russell, IWF
-2.61% Growth BARRA Small Cap 600, IJT
-2.61% Retail H, RTH
-2.61% Biotechnology, IBB
-2.64% Transportation Av DJ, IYT
-2.64% Software H, SWH
-2.65% Value LargeCap Russell 3000, IWW
-2.65% Growth SmallCap Dynamic PS, PWT
-2.66% Value SmallCap Dynamic PS, PWY
-2.67% Growth LargeCap iS M, JKE
-2.70% Growth Mid Cap Dynamic PS, PWJ
-2.70% LargeCap Blend S&P=Weight R, RSP
-2.71% Dividend DJ Select, DVY
-2.72% LargeCap VIPERs, VV
-2.73% Value S&P 500, RPV
-2.74% Hardware & Electronics, PHW
-2.74% MidCap Growth iS M, JKH
-2.75% Healthcare Global, IXJ
-2.76% Retail, PMR
-2.76% Value LargeCap Dynamic PS, PWV
-2.79% Value LargeCap NYSE 100 iS, NY
-2.79% Microcap Russell, IWC
-2.80% Growth S&P 500/BARRA, IVW
-2.81% REIT VIPERs, VNQ
-2.81% Growth LargeCap Russell 3000, IWZ
-2.82% Extended Mkt VIPERs, VXF
-2.82% LargeCap Blend S&P 1500 iS, ISI
-2.83% REIT Wilshire, RWR
-2.84% MidCap Blend Core iS M, JKG
-2.84% Technology MS sT, MTK
-2.84% MidCap VIPERs, VO
-2.84% Growth VIPERs, VUG
-2.85% Value MidCap Russell, IWS
-2.86% Realty Cohen & Steers, ICF
-2.87% DIAMONDS (DJIA), DIA
-2.88% Value SmallCap Russell 2000, IWN
-2.93% LargeCap Blend Total Market DJ, IYY
-2.93% Dividend Leaders, FDL
-2.93% Dividend SPDR, SDY
-2.94% Growth MidCap Russell, IWP
-2.98% Energy Global, IXC
-3.00% Value VIPERs, VTV
-3.01% LargeCap 1000 R, IWB
-3.01% LargeCap Rydex Rus Top 50, XLG
-3.01% S&P 500 SPDRs LargeCap Blend, SPY
-3.01% Value LargeCap iS M, JKF
-3.01% LargeCap Blend NYSE Composite iS, NYC
-3.03% Value LargeCap Fundamental RAFI 1000, PRF
-3.04% Small Cap VIPERs, VB
-3.04% Switzerland Index, EWL
-3.04% LargeCap Blend Russell 3000, IWV
-3.06% SmallCap PS Zacks, PZJ
-3.07% Blend Total Market VIPERs, VTI
-3.08% Semiconductor iS GS, IGW
-3.09% Micro Cap Zachs, PZI
-3.09% SmallCap S&P 600, IJR
-3.10% S&P 500 iS LargeCap Blend, IVV
-3.10% Technology DJ US, IYW
-3.10% Software, IGV
-3.11% Japan LargeCap Blend TOPIX 150, ITF
-3.11% Semiconductor SPDR, XSD
-3.12% Real Estate US DJ, IYR
-3.12% Value 1000 Russell, IWD
-3.12% Software, PSJ
-3.14% Global Titans, DGT
-3.14% Growth Small Cap DJ, DSG
-3.14% SmallCap Russell 2000, IWM
-3.17% Lg Cap Growth PSD, PWB
-3.18% Telecommunications Global, IXP
-3.18% Japan Index, EWJ
-3.19% Consumer D. VIPERs, VCR
-3.20% Aerospace & Defense, PPA
-3.21% LargeCap Blend S&P 100, OEF
-3.23% Value SmallCap S&P 600 B, IJS
-3.24% Growth LargeCap NASDAQ 100, QQQQ
-3.24% Telecom H, TTH
-3.25% Growth Large Cap, ELG
-3.26% Semiconductor H, SMH
-3.26% Value SmallCap S&P 600, RZV
-3.27% MidCap Russell, IWR
-3.27% Growth SmallCap VIPERs, VBK
-3.27% Telecommunications & Wireless, PTE
-3.28% Dividend Growth PS, PHJ
-3.29% LargeCap Blend Dynamic PS, PWC
-3.31% Dividend International, PID
-3.32% Growth SmallCap iS M, JKK
-3.32% Technology GS, IGM
-3.33% Consumer Discretionary SPDR, XLY
-3.33% Emerging VIPERs, VWO
-3.33% Canada Index, EWC
-3.35% Value S&P 500 B, IVE
-3.36% China LargeCap Growth G D H USX PS, PGJ
-3.38% Semiconductors, PSI
-3.40% Info Tech VIPERs, VGT
-3.40% Leisure & Entertainment, PEJ
-3.42% Nanotech Lux, PXN
-3.42% Biotech & Genome, PBE
-3.43% Industrial SPDR, XLI
-3.44% Telecom Services VIPERs, VOX
-3.46% United Kingdom Index, EWU
-3.51% Asia 50 BLDRS, ADRA
-3.51% Global 100, IOO
-3.51% Industrial LargeCap Blend DJ US, IYJ
-3.53% Internet H, HHH
-3.55% Netherlands Index, EWN
-3.55% Materials SPDR, XLB
-3.58% Technology SPDR, XLK
-3.60% Technology Global, IXN
-3.61% Industrials VIPERs, VIS
-3.62% Growth SmallCap R 2000, IWO
-3.63% Growth LargeCap NASDAQ Fidelity, ONEQ
-3.69% Value Line Timeliness MidCap Gr, PIV
-3.70% Telecom DJ US, IYZ
-3.73% WilderHill Clean Energy PS, PBW
-3.85% Biotech SPDR, XBI
-3.87% Growth EAFE MSCI, EFG
-3.88% Developed 100 BLDRS, ADRD
-3.88% Emerging 50 BLDRS, ADRE
-3.91% Pacific VIPERs, VPL
-3.99% Europe 100 BLDRS, ADRU
-4.05% Materials VIPERs, VAW
-4.07% Basic Materials DJ US, IYM
-4.10% Financials VIPERs, VFH
-4.13% Dividend High Yield Equity PS, PEY
-4.17% Hong Kong Index, EWH
-4.23% Financial DJ US, IYF
-4.24% South Africa Index, EZA
-4.28% EAFE Index, EFA
-4.29% Value EAFE MSCI, EFV
-4.37% Germany Index, EWG
-4.39% Homebuilders SPDR, XHB
-4.42% Value LargeCap Euro STOXX 50 DJ, FEU
-4.45% Capital Markets KWB ST, KCE
-4.48% Italy Index, EWI
-4.50% Europe 350 S&P Index, IEV
-4.61% Emerging Markets, EEM
-4.62% European VIPERs, VGK
-4.70% Water Resources, PHO
-4.75% Bank Regional H, RKH
-4.77% Building & Construction, PKB
-4.81% Latin Am 40, ILF
-4.82% Networking, IGN
-4.90% Financial SPDR, XLF
-4.94% Euro STOXX 50, FEZ
-4.95% China 25 iS, FXI
-4.95% Ultra MidCap400 Double, MVV
-5.00% Taiwan Index, EWT
-5.03% Financial Services DJ, IYG
-5.05% Networking, PXQ
-5.10% Financials Global LargeCap Value, IXG
-5.22% EMU Europe Index, EZU
-5.26% Spain Index, EWP
-5.31% Pacific ex-Japan, EPP
-5.37% France Index, EWQ
-5.39% Belgium Index, EWK
-5.43% Singapore Index, EWS
-5.59% Metals & Mining SPDR, XME
-5.60% Brazil Index, EWZ
-5.64% Austria Index, EWO
-5.72% Sweden Index, EWD
-5.74% Australia Index, EWA
-5.84% Ultra Dow30 Double, DDM
-5.94% Ultra S&P500 Double, SSO
-6.44% Ultra QQQ Double, QLD
-7.87% Internet Infrastructure H, IIH