Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) turned bullish when price rose above its 50-day SMA.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 weeks. EEM/SPY remains technically neutral but appears to be weakening.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) remains neutral but appears to be losing strength since 1/26/12.
The S&P 500 Composite (SPX: 1,367.59) rose above the high of 2011 on 2/27/12 intraday until a decline in the final hour knocked stock prices back down into their trading range.
NYSE volume rose 4% but continues to languish at extremely low levels, suggesting weak demand for stocks. The 50-day SMA of NYSE Volume is at its lowest level in 12 years.
Popular Price Momentum indicators, such as RSI(14) and MACD(12/26/9), failed to confirm higher price highs over the past 11 trading days, thereby warning of bearish divergence.
SPX remains within a potential Bearish Rising Wedge chart pattern, which has forming since December. In addition, that pattern is contained within a larger potential Bearish Rising Wedge chart pattern beginning at the October low. Break downs below the lower boundary lines would offer technical warning of a possible fast return to the lows.
My Sensitive Short-Term Price Momentum Oscillator based on SPX turned downward and shows a bearish divergence compared to the SPX price. In recent weeks, the slowness of the grind higher indicated that the stock market already had lost most of its bullish momentum.
Expect resistance near the 2011 highs, around the intraday peak on the SPX at 1370.58 set on 5/2/2011, allowing plus or minus a few percentage points for Gann’s “lost motion”.
Overbought, up big from the October low, and with very little room above before encountering resistance, Potential Reward relative to potential Risk appears unattractive for stocks.
Recent sentiment data, detailed below, indicates alarming degrees of optimism and bullish complacency. When the majority of investors has been bullish for some time, we can assume that they are already fully invested in the market. Once everyone who is going to buy has already bought, stocks are vulnerable to a downside shakeout. The pendulum of emotion tends to swing too far in one direction, but market mood always reverts to the mean.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Equity Mutual Funds lost 6% in 2011, according to Lipper Research Services.
Hedge funds lost 5%, according to COO Connect.
Hedge funds suffered their second-worst year on record in 2011, according to an index maintained by Eurekahedge, an independent research firm that specializes in hedge fund data. Some of the world’s largest and best-known hedge funds suffered huge losses, down 20% to 50%.
But not all money managers were down in 2011; see:
Robert W. Colby Asset Management, Inc. (click here).
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9 major U.S. stock sectors ranked in order of long-term relative strength: Available by subscription only (click here).
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Stock Market Indicators
The Dow Theory gave a bullish signal on 12/23/11, when both Dow-Jones Industrial and Transportation Averages closed above their closing price highs of the previous 5 months. These two Averages diverged after 2/3/12, however, as Industrials struggled higher while Transports failed to confirm. The Industrials appear to be encountering resistance near the round number of 13,000. That round number resistance phenomenon is not necessarily logical, but it is typical behavior for the Industrials.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose from 12/29/12 to 2/16/12 but turned down in recent days. Still, the Ratio remains above its 50-day and 200-day SMAs. Absolute price of the NASDAQ Composite rose to an 11-year high on 2/24/12.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) remains neutral. BKF/SPY remains above its 50-day SMA but below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 1/13/11.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) remains technically neutral but appears to be weakening. EEM/SPY remains above its 50-day SMA but below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 2/3/11.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) remains neutral. EFA/SPY remains above its 50-day SMA but below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 1/14/11.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) remains neutral but appears to have gained strength in February. OEX/SPX remains below its 50-day SMA, above its 200-day SMA, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 8/25/11. Large Caps tend to outperform in bearish general market trends as investors seek the perceived relative safety of large size. Large Caps tend to underperform Mid Caps and Small Caps in bullish general market trends as investors prefer riskier and more volatile stocks.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) remains neutral but appears to be losing strength in recent weeks. The 50-day SMA has remained below the 200-day SMA consistently every day since 8/11/11.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) remains neutral but appears to be losing strength in recent weeks. The 50-day SMA has remained below the 200-day SMA consistently every day since 8/24/11.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sentiment for Contrary Thinking
ABC News reported on 2/21/12 that 10 out of 10 investment strategists at large firms were bullish. http://abcnews.go.com/watch/world-news-with-diane-sawyer/SH5585921/VD55173505/world-news-221-dow-jones-climbs-past-13000
The Commitment of Traders (COT) report shows that the Commercials (giant corporations with deep pockets) have been buying “risk off” defensive futures contracts, specifically, the U.S. dollar and the ten-year Treasury note. On the other side, trend-following Speculators have been buying “risk on” aggressively bullish contracts, setting a new all-time net-long record in the Nasdaq futures. The unusually large size of Speculators’ positions implies a weak-handed, top-heavy stock market.
AAII Sentiment: There were 44% Bulls and 28% Bears, according to the AAII weekly survey reported on 2/23/12. Net bullish opinion is as high as it was last July, near the market top.
Investors Intelligence Sentiment: There were 54.8% Bulls versus 25.8% Bears, according to the Investors Intelligence weekly survey of stock market newsletter advisors reported on 2/15/11. This was the highest level of bullish sentiment since the stock market top in May, 2011.
Investment Newsletters were 75% bullish, the highest since near the major top in year 2000, according to Hulbert Digest.
Market Vane’s Bullish Consensus among Advisors and Newsletters rose to 66% Bulls this month, in the same 64% to 69% range of Bulls from February to July 2011 at the highs.
Short Selling ETFs are trading the lowest volume since the market top in April, 2011, according to Frank D. Gretz of Wellington Shields & Co.
Corporate insiders have been selling their companies’ stock at the heaviest rate since the market peak last July, according to Mark Hulbert at MarketWatch. Insiders sold 577 shares for each 100 shares they bought, according to Argus Research Vickers Weekly Insider Report. That is a big change in insider behavior from 81 shares sold for each 100 shares bought in November. Since corporate insiders (officers, directors, and largest shareholders) know so much more about their companies than the public can possibly know, it is bearish when insiders sell at such a heavy pace.
NYSE short interest collapsed from a high peak of 16.1 billion shares sold short last September, which coincided with the stock market lows, to 12.5 billion shares sold short in February. This is the lowest level since last April, at the market top. Short interest represents a pool of potential demand for stocks, since short sellers eventually must buy back the shares they borrowed. Currently, that pool of demand is depleted.
VIX Fear Index broke down below the lows of the previous 6 months on 2/3/12, hitting 16.10 intraday. That was down from a peak of 48.00 on 8/8/11. Such a large drop in VIX indicated a shift away from fear and toward bullish complacency, which may be bearish. 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.
The S&P 500 Composite Potential Resistance
1576.09, high of 10/11/2007
1552.76, high of 10/31/2007
1523.57, high of 12/11/2007
1498.85, high of 12/26/2007
1440.24, high of 5/19/2008
1406.32, high of 5/29/2008
1381.50, Fibonacci 78.6% of 2007-2009 range
1376.55, Fibonacci 100.0% projection 10/11 range
1371.94, high of 2/27/2012
1370.58, high of 5/2/11
The S&P 500 Composite Potential Support
1352.28, low of 2/23/2012
1337.35, low of 2/10/2012
1300.49, low of 1/30/2012
1277.58, low of 1/13/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1257.98, 200-day SMA
1257.46, low of 12/30/11
1257.58, Fibonacci 61.8% of 2011 range
1255.22, high of 12/22/2011
1248.64, low of 12/29/2011
1244.80, low of 12/7/2011
1239.73, low of 12/1/2011
1238.81, Fibonacci 78.6% of 1,576.09 high
1234.81, low of 11/3/11
1231.04, high of 12/16/11
1226.64, low of 11/9/2011
1222.68, Fibonacci 50% of 2011 range
1224.57, high of 12/19/11
1215.20, low of 12/16/11
1209.47, low of 12/14/2011
1209.43, low of 11/17/2011
1204.49, Fibonacci 23.6% of 2009-11 range
1202.37, low of 12/19/11
1187.77, Fibonacci 38.2% of 2011 range
1158.66, low of 11/25/2011
1144.38, Fibonacci 23.6% of 2011 range
1101.73, Fibonacci 38.2% of 2009-11 range
1074.77, low of 10/4/2011
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
1018.69, Fibonacci 50% of 2009-11 range
1008.55, Fibonacci 38.2% of 2009-2010 range
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
943.29, Gann 50.0% of 2009-2010 range
935.64, Fibonacci 61.8% of 2009-11 range
878.04, Fibonacci 61.8% of 2009-2010 range
874.17, Gann 62.5% of 2009-2010 range
869.32, low of 7/8/2009
817.40, Fibonacci 78.6% of 2009-11 range
805.17, Gann 75.0% of 2009-2010 range
785.13, Fibonacci 78.6% of 2009-2010 range
666.79, intraday low of 3/6/2009
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fixed-Income Investments
Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) remains neutral but appears to be gaining strength since 2/21/12. TLT remains very slightly below its 50-day SMA but above its 200-day SMA. The 50-day SMA has remained above the 200-day SMA every day since 6/24/11, suggesting a persistently bullish major trend for the longer term. Support 114.95, 114.62, 109.82, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 118.85, 120.91, 121.64, 121.76, 124.02 and 125.03.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) turned bullish on 2/27/12 when price rose above its 50-day SMA. IEF remains above its 200-day SMA. The 50-day SMA has remained above the 200-day SMA every day since 6/21/11, suggesting a persistently bullish major trend for the longer term. Support 104.37, 104.00, 103.29, 102.32, 101.36, 101.11, 99.79, and 97.66. Resistance 105.68, 106.49 and 106.66.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) remains neutral. JNK/LQD remains below its 200-day SMA but above its 50-day SMA. The 50-day SMA has remained bearishly below the 200-day SMA every day since 6/20/11.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) remains neutral long term but has gained strength since 12/30/11 as it became clear that the world’s monetary authorities are inflating fiat currencies. TIP/IEF has remained bullishly above both its 50-day and 200-day SMAs since 2/15/12. The 50-day SMA has remained bearishly below the 200-day SMA every day since 7/15/11.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tangible Assets, Commodities
U.S. dollar ETF (UUP) fell below the lows of the previous 3 months on 2/24/12, obviously losing strength. UUP remains neutral below its 50-day SMA but above its 200-day SMA since 2/6/12. The 50-day SMA has remained above the 200-day SMA every day since 10/26/11. Support 21.79, 21.58, 21.07, and 20.84. Resistance 22.30, 22.41, 22.46, 22.85, 23.52, 25.84, 27.19, 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) remains neutral but appears to be losing strength since 1/26/12. DBA has remained above its 50-day SMA but below its 200-day SMA since 2/14/12, and the 50-day SMA has remained below the 200-day SMA every day since 8/8/11.
Crude Oil, United States Oil ETF (USO) rose above its highs of the previous 9 months on 2/24/12, obviously gaining strength. USO rose above its 50-day SMA and rose above a 6-week downtrend line on 2/13/12, has remained above its 200-day SMA since 12/20/11, and the 50-day SMA has remained above the 200-day SMA every day since 1/3/12. Support 40.35, 39.96, 38.51, 36.67, 35.73, 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 42.19 and 45.60.
Gold, SPDR Gold Shares ETF (GLD) rose above the highs of the previous 3 months on 2/23/12 and remains in bullish position above its 50-day and 200-day SMAs. Longer term, the 50-day SMA has remained bullishly above the 200-day SMA every day since 2/11/09. Support: 166.17, 160.29, 159.68, 158.01, 156.19, 154.55, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 173.77, 175.46, 177.40, and 185.85.
Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) fell below the lows of the previous 3 years on 2/15/12, thereby reconfirming a bearish major trend for the long term. GDX/GLD remains bearishly below its 50-day and 200-day SMAs. Longer term, the 50-day SMA has remained bearishly below the 200-day SMA every day since 2/22/11.
Silver, iShares Silver Trust ETF (SLV) remains neutral. SLV rose above its 200-day SMA and rose above its highs of the previous 5 months on 2/23/12. The 50-day SMA remains below the 200-day SMA, however. Support 31.82, 30.67, 28.63, 27.83, 25.65, and 24.44. Resistance: 34.65, 40.23, 41.49, 42.30, 42.78, 44.71 and 48.35.
Silver/Gold ETFs Ratio (SLV/GLD) remains neutral. SLV/GLD rose above its highs of the previous 5 months on 2/27/12 but remains below its falling 200-day SMA. Longer term, the 50-day SMA has remained below the 200-day SMA every day since 8/30/11.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) remains neutral, bullishly above both 50-day and 200-day SMAs, but with the 50-day SMA bearishly below the 200-day SMA every day since 8/8/11.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
13.79% , CTB , COOPER TIRE
0.25% , KCE , Capital Markets KWB ST, KCE
0.87% , PHO , Water Resources, PHO
7.67% , MU.O , MICRON TECH
6.73% , WHR , WHIRLPOOL
5.32% , RIG , TRANSOCEAN
3.71% , MHS , MEDCO HEALTH
0.37% , KLD , LargeCap Blend Socially Responsible iS, KLD
4.20% , LVLT.K , LEVEL 3 COMMUNICATIONS
1.86% , TYC , TYCO INTL
2.82% , WFC , WELLS FARGO
2.04% , JPM , J P MORGAN CHASE
0.66% , FPX , IPOs, First Tr IPOX-100, FPX
1.98% , USB , US BANCORP
2.03% , BAC , BANK OF AMERICA
2.08% , LIZ , LIZ CLAIRBORNE
0.69% , IYF , Financial DJ US, IYF
1.63% , XHB , Homebuilders SPDR, XHB
1.86% , DHI , D.R. HORTON, DHI
0.17% , XSD , Semiconductor SPDR, XSD
1.75% , AZO , AUTOZONE
2.25% , SHW , SHERWIN WILLIAMS
1.22% , ESRX , EXPRESS SCRIPTS
0.25% , IYC , Consumer Cyclical DJ, IYC
0.07% , IYH , Healthcare DJ, IYH
1.69% , EL , Estee Lauder
1.30% , NTRS , NORTHERN TRUST
0.92% , TER , TERADYNE
1.09% , DOW , DOW CHEMICAL
0.34% , ISI , LargeCap Blend S&P 1500 iS, ISI
1.33% , DGX , QUEST DIAG
2.29% , STT , STATE STREET
0.32% , XLG , LargeCap Rydex Rus Top 50, XLG
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-1.10% , PXJ , Oil & Gas, PXJ
-1.73% , DBO , Oil Fund PowerShares, DBO
-1.17% , THD , Thailand MSCI iS, THD
-3.37% , EPI , India Earnings WTree, EPI
-1.42% , APOL , APOLLO GROUP
-0.84% , AEE , AMEREN
-0.82% , ADRE , Emerging 50 BLDRS, ADRE
-2.98% , PIN , India PS, PIN
-0.89% , PST , 200% Short Bond 7-10 Yr T, PST
-2.03% , NVDA , NVIDIA
-1.80% , TBT , 200% Short US T Bond, TBT
-0.23% , IYE , Energy DJ, IYE
-0.32% , PKB , Building & Construction, PKB
-2.02% , NFLX , Netflix, NFLX
-0.74% , IEV , Europe 350 S&P Index, IEV
-1.15% , EWD , Sweden Index, EWD
-0.23% , IDU , Utilities DJ, IDU
-1.30% , GT , GOODYEAR TIRE
-1.16% , VIAB.O , VIACOM STK B
-2.25% , THC , TENET HEALTHCARE
-0.76% , MDP , MEREDITH
-0.58% , ACWX , Global ex US ACWI iS, ACWX
-0.52% , MTK , Technology MS sT, MTK
-0.96% , CNP , CENTERPNT ENERGY
-1.67% , GLW , CORNING
-0.64% , RDC , ROWAN COMPANIES
-0.43% , VMC , VULCAN MATERIALS
-0.73% , WM , WASTE MANAGEMENT
-2.04% , RIMM , RESEARCH IN MOTION LTD
-1.12% , BA , BOEING
-0.81% , EZU , EMU Europe Index, EZU
-2.68% , BHI , BAKER HUGHES
-1.20% , GNW , GENWORTH FINANCIAL
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
1.63% Homebuilders SPDR, XHB
1.30% Financial Services DJ, IYG
0.89% Bond, 20+ Years Treasury, TLT
0.87% Water Resources, PHO
0.82% Transportation Av DJ, IYT
0.75% Financial SPDR, XLF
0.74% Financials VIPERs, VFH
0.69% Financial DJ US, IYF
0.58% Consumer Discretionary SPDR, XLY
0.57% Russia MV, RSX
0.37% Bond, Corp, LQD
0.36% Value S&P 500 B, IVE
0.35% Value 1000 Russell, IWD
0.34% Agriculture DB PS, DBA
0.33% Value VIPERs, VTV
0.33% Bond, 10 Year Treasury, IEF
0.32% Bond, Aggregate, AGG
0.30% Value LargeCap Dynamic PS, PWV
0.25% Capital Markets KWB ST, KCE
0.24% LargeCap Blend S&P 100, OEF
0.22% Networking, IGN
0.22% LargeCap 1000 R, IWB
0.22% S&P 500 iS LargeCap Blend, IVV
0.19% Health Care SPDR, XLV
0.18% Preferred Stock iS, PFF
0.17% Technology SPDR, XLK
0.17% Semiconductor SPDR, XSD
0.17% Australia Index, EWA
0.17% S&P 500 SPDRs LargeCap Blend, SPY
0.16% Technology DJ US, IYW
0.16% Bond, TIPS, TIP
0.15% LargeCap Blend Russell 3000, IWV
0.14% Info Tech VIPERs, VGT
0.14% QQQ Nasdaq 100 Trust, QQQ
0.14% Malaysia Index, EWM
0.13% LargeCap VIPERs, VV
0.12% LargeCap Blend S&P=Weight R, RSP
0.10% Semiconductor iS IGW, SOXX
0.09% Dividend SPDR, SDY
0.09% Telecom DJ US, IYZ
0.09% Blend Total Market VIPERs, VTI
0.08% Industrial SPDR, XLI
0.07% MidCap Russell, IWR
0.07% Growth VIPERs, VUG
0.05% Dividend Appreciation Vipers, VIG
0.05% Growth MidCap Russell, IWP
0.05% Growth SmallCap VIPERs, VBK
0.03% DIAMONDS (DJIA), DIA
0.03% Growth MidCap 400 B, IJK
0.03% Materials SPDR, XLB
0.02% Bond, 1-3 Year Treasury, SHY
0.02% Pacific ex-Japan, EPP
0.02% Bond, High-Yield Corporate, HYG
0.02% MidCap S&P 400 SPDRs, MDY
0.01% REIT Wilshire, RWR
0.01% Bond EmrgMkt JPM iS, EMB
0.00% WilderHill Clean Energy PS, PBW
0.00% Value MidCap S&P 400 B, IJJ
0.00% Value MidCap Russell, IWS
0.00% Growth S&P 500/BARRA, IVW
0.00% Frontier Markets Guggenheim , FRN
0.00% Consumer Staples SPDR, XLP
-0.02% Bond Treasury Short-Term iS, SHV
-0.03% Utilities SPDR, XLU
-0.03% Silver Trust iS, SLV
-0.03% Growth 1000 Russell, IWF
-0.04% Small Cap VIPERs, VB
-0.04% Value SmallCap VIPERS, VBR
-0.05% Growth BARRA Small Cap 600, IJT
-0.05% Bond Ex-US Treas, BWX
-0.05% Bond, High-Yield Junk, JNK
-0.05% MidCap S&P 400 iS, IJH
-0.05% Dividend DJ Select, DVY
-0.06% Basic Materials DJ US, IYM
-0.06% Financial Preferred, PGF
-0.09% Realty Cohen & Steers, ICF
-0.12% Growth SmallCap R 2000, IWO
-0.12% Real Estate US DJ, IYR
-0.12% Energy Global, IXC
-0.12% Value SmallCap Russell 2000, IWN
-0.14% Bond Muni ATM-Free S&P iS, MUB
-0.16% Spain Index, EWP
-0.16% Netherlands Index, EWN
-0.16% REIT VIPERs, VNQ
-0.16% Chile MSCI iS, ECH
-0.17% SmallCap Russell 2000, IWM
-0.17% Canada Index, EWC
-0.21% Utilities VIPERs, VPU
-0.22% Bear, Short S&P 500, SH
-0.22% SmallCap S&P 600, IJR
-0.23% Energy DJ, IYE
-0.24% Global 100, IOO
-0.25% Pacific VIPERs, VPL
-0.26% Dividend International, PID
-0.27% South Africa Index, EZA
-0.28% Hong Kong Index, EWH
-0.29% Value SmallCap S&P 600 B, IJS
-0.30% China LargeCap Growth G D H USX PS, PGJ
-0.31% Gold Shares S.T., GLD
-0.31% Energy SPDR, XLE
-0.32% Dividend High Yield Equity PS, PEY
-0.33% Energy VIPERs, VDE
-0.45% Energy & Nat Res iS GS, IGE
-0.47% Singapore Index, EWS
-0.48% Switzerland Index, EWL
-0.49% Microcap Russell, IWC
-0.52% Latin Am 40, ILF
-0.52% EAFE Index, EFA
-0.53% Growth EAFE MSCI, EFG
-0.55% Mexico Index, EWW
-0.58% Global ex US ACWI iS, ACWX
-0.60% Japan Index, EWJ
-0.60% Biotech SPDR, XBI
-0.67% Small Cap EAFE MSCI iS, SCZ
-0.67% Value EAFE MSCI, EFV
-0.68% Belgium Index, EWK
-0.69% Germany Index, EWG
-0.74% United Kingdom Index, EWU
-0.74% Europe 350 S&P Index, IEV
-0.81% Commodity Tracking, DBC
-0.81% Emerging VIPERs, VWO
-0.81% EMU Europe Index, EZU
-0.82% Emerging 50 BLDRS, ADRE
-0.82% Taiwan Index, EWT
-0.84% European VIPERs, VGK
-0.85% Brazil Index, EWZ
-1.00% Emerging Markets, EEM
-1.06% Austria Index, EWO
-1.07% France Index, EWQ
-1.12% China 25 iS, FXI
-1.15% Sweden Index, EWD
-1.17% Thailand MSCI iS, THD
-1.28% Metals & Mining SPDR, XME
-1.43% South Korea Index, EWY
-1.50% Indonesia MV, IDX
-1.54% Italy Index, EWI
-1.58% Turkey MSCI iS, TUR
-1.73% Oil Fund PowerShares, DBO
-1.98% Oil, Crude, U.S. Oil Fund, USO
-2.98% India PS, PIN
-3.37% India Earnings WTree, EPI