Energy Stock Sector ETF Relative Strength Ratio (XLE/SPY) fell below the lows of the previous 5 months and fell further below its 50-day and 200-day SMAs on 3/21/12, reconfirming a downside correction. The 50-day SMA has remained bearishly below 200-day SMA every day since 9/23/11, suggesting a persistent Bear trend. Absolute price fell below its 50-day SMA on 3/21/12, confirming a downside correction.
Major stock market indexes finished mixed on Wednesday, with the S&P 500 Composite (SPX: 1,402.89) down 0.19%, DJIA down 0.35%, NASDAQ Composite up 0.04%, and a few more declining than advancing stocks on the NYSE.
The cumulative daily A-D Line shows a bearish divergence compared to SPX price since Tuesday, 3/13/12. Momentum of the A-D Line shows bearish divergence compared to the A-D Line itself.
RSI(14) based on SPX fell below its levels of the previous 6 trading days, thereby demonstrating a bearish price momentum divergence once again.
MACD based on SPX turned down after failing to reach its high of February 9, 2012, which appears to have been the momentum peak for the rally.
It has been an exceptional year so far, with no downside pullbacks of as much as 3% since 12/19/12, based on SPX close prices. It is extremely unlikely that stocks can continue to go up like this much longer, however, without a significant downside correction. Odds are stocks will experience the usual ups and downs this year. After large price run ups, stocks become more vulnerable to sudden reversals. Therefore, Potential Reward relative to potential Risk appears unattractive for stocks.
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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).
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9 major U.S. stock sectors ranked in order of long-term relative strength:
Available by subscription only (click here).
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Stock Market Indicators
The Dow Theory may have given an early warning by diverging after 2/3/12, as the Transports turned corrective and failed to confirm higher highs by the Industrials.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose above its highs of the previous 11-years on 3/21/12, confirming its rising trend since the low on 12/29/12. The Ratio remains above its 50-day and 200-day SMAs, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 2/24/12. Absolute price of the NASDAQ Composite broke out above its 11-year high of 3000.11 set on 2/29/12 and has continued to advance.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below its lows of the previous 2 months on 3/20/12. BKF/SPY remains below its 50-day and 200-day SMAs. Longer term, the bias is bearish because the 50-day SMA has remained below the 200-day SMA every day since 1/13/11.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below its lows of the previous 2 months on 3/20/12. EEM/SPY remains below its 50-day and 200-day SMAs. Longer term, the bias is bearish because the 50-day SMA has remained below the 200-day SMA every day since 2/3/11.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below its 50-day SMA on 3/20/12. EFA/SPY remains bearishly below both its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA consistently every day since 1/14/11.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) rose above its highs of the previous 22 months on 3/20/12, reconfirming its preexisting bullish trend. OEX/SPX remains above its 50-day and 200-day SMAs, 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. On the other side of the coin, 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) fell below the lows of the previous 9 weeks on 3/6/12, thereby confirming a relatively weak trend for the medium term. IWM/SPY is technically neutral, below its 50-day SMA and 200-day SMA, but with the 50-day SMA now slightly above the 200-day SMA.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below its lows of the previous 2 months on 3/20/12. MDY/SPY is below its 50-day and 200-day SMAs.
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Sentiment for Contrary Thinking
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.
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 showed 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 51.64% Bulls and 20.19% Bears, according to the AAII weekly survey reported on 2/9/12. This was the highest level of bullish sentiment in more than a year, since 52.34% Bulls on 1/13/11.
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 recently 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 65% Bulls–the same extreme level of optimism recorded at the February 2011 top in the stock market.
Short Selling ETFs were 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 in April 2011, according to Mark Hulbert at MarketWatch. Insiders sold 656 shares for each 100 shares they bought, according to Argus Research Vickers Weekly Insider Report. That was 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, which was 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. That pool of demand has been depleted.
VIX Fear Index broke down below the lows of the previous 4 years on 3/16/12, hitting 13.66 intraday, its lowest level since 6/20/07. VIX is down from a peak of 48.00 on 8/8/11: such a large drop indicated a shift away from fear and toward bullish complacency. 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
1414.00, high of 3/19/2012
The S&P 500 Composite Potential Support
1397.68, low of 3/20/2012
1381.50, Fibonacci 78.6% of 2007-2009 range
1378.04, high of 2/29/2012
1376.55, Fibonacci 100.0% projection 10/11 range
1370.58, high of 5/2/11
1340.03, low of 3/6/2012
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
1262.64, 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
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Fixed-Income Investments
Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) broke down below the lows of the previous 7 months on 3/19/12, which is bearish. Still, TLT is technically neutral according to the 50-day and 200-day simple moving averages: TLT was below its 50-day and 200-day SMAs on 3/19/12, but the 50-day SMA has remained above the 200-day SMA every day since 6/24/11. Support 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 113.89, 119.14, 120.91, 121.64, 121.76, 124.02 and 125.03.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) broke down below the lows of the previous 5 months on 3/19/12, which is bearish. Still, IEF is technically neutral according to the 50-day and 200-day simple moving averages: IEF fell below its 50-day and 200-day SMAs on 3/19/12, but the 50-day SMA has remained above the 200-day SMA every day since 6/21/11. Support 101.36, 101.11, 99.79, and 97.66. Resistance 103.87, 105.80, 106.49 and 106.66.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) is neutral. JNK/LQD is above its 50-day and 200-day SMAs, but the 50-day SMA has remained bearishly below the 200-day SMA every day since 6/20/11. That 50-200 SMA spread has been narrowing, however.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) turned bullish on 3/14/12 when the 50-day SMA rose above the 200-day SMA. TIP/IEF remains above both its 50-day and 200-day SMAs. The market recognizes that the Fed, ECB, and other global monetary authorities are willing to print money out of thin air as necessary in order to support the financial system.
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Tangible Assets, Commodities
U.S. dollar ETF (UUP) fell below the lows of the previous 6 trading days on 3/19/12. UUP fell below its 50-day SMA on 3/16/12 but remains above its 200-day SMA. Longer term, the 50-day SMA has remained consistently above the 200-day SMA every day since 10/26/11. Support 22.01, 21.74, 21.58, 21.07, and 20.84. Resistance 22.47, 22.85, 23.52, 25.84, 27.19, 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) remains technically bearish below both its 50-day SMA and 200-day SMAs, and with the 50-day SMA consistently below the 200-day SMA every day since 8/8/11.
Crude Oil, United States Oil ETF (USO) remains technically bullish for the medium term, positioned above both its 50-day and 200-day SMAs, and with the 50-day SMA above the 200-day SMA consistently every day since 1/3/12. Support 39.70, 38.51, 36.67, 35.73, 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 41.38, 42.30, and 45.60.
Gold, SPDR Gold Shares ETF (GLD) fell below its lows of the previous 8-weeks and fell further below both its 50-day and 200-day SMAs on 3/14/12. GLD has been correcting and consolidating since peaking at 185.85 on 9/6/11. Longer term, the 50-day SMA has remained bullishly above the 200-day SMA every day since 2/11/09. Support: 158.80, 158.01, 156.19, 154.55, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 166.57, 174.00, 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 3/20/12, thereby reconfirming a bearish major trend for the long 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) fell below the lows of the previous 7 weeks and fell below its 50-day SMA on 3/14/12, thereby turning technically bearish. SLV remains below its 200-day SMA, and the 50-day SMA has been below the 200-day SMA every day since 10/27/11. Support 30.73, 30.67, 28.63, 27.83, 25.65, and 24.44. Resistance: 33.44, 36.44, 40.23, 41.49, 42.30, 42.78, 44.71 and 48.35.
Silver/Gold ETFs Ratio (SLV/GLD) fell below its lows of the previous 4 weeks on 3/20/12. SLV/GLD is now only slightly above its 50-day SMA, remains below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 8/30/11.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) fell below the lows of the previous 6 trading days on 3/20/12. JJC closed only slightly above its 50-day and 200-day SMAs. The 50-day SMA has remained below the 200-day SMA every day since 8/8/11. JJC remains far below its 2011 high at 61.69 and recently has been lagging the stock market since JJC peaked at 51.41 on 2/9/12. Given that “Dr. Copper” is one of the better indicators of investor confidence (or lack thereof) in the global industrial economy, this underperformance may be suggesting rising doubts about prospects going forward.
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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
8.82% , WPI , WATSON PHARM
1.43% , HIG , HARTFORD FINL
5.40% , NIHD , NII Holdings, Inc.
3.73% , EXPD , Expeditors International WA
3.69% , DISH , EchoStar Communications
2.13% , STJ , ST JUDE MEDICAL
2.13% , CECO , CAREER EDUCATION CORP
1.80% , LH , LAB CRP OF AMER
3.49% , CROX , CROCS Inc., CROX
3.23% , BBY , BEST BUY
0.88% , IYT , Transportation Av DJ, IYT
2.37% , BIDU , Baidu, Inc., BIDU
4.42% , NFLX , Netflix, NFLX
3.60% , MAS , MASCO
2.96% , ININ , Interactive Intelligence ININ
1.25% , FDX , FEDEX
2.66% , SNDK , SanDisk Corporation
0.42% , CR , CRANE
0.22% , IWP , Growth MidCap Russell, IWP
1.98% , MU.O , MICRON TECH
1.45% , CAH , CARDINAL HEALTH
1.88% , LTD , LIMITED BRANDS
0.18% , IGM , Technology GS, IGM
1.90% , KSU , Kansas City Southern, KSU
2.25% , JNS , JANUS CAPITAL
0.75% , KO , COCA COLA
0.72% , WM , WASTE MANAGEMENT
1.02% , GOOG , Google
2.01% , RF , REGIONS FINAN
1.92% , DISCA , Discovery Communications
2.02% , FAST , Fastenal Company
0.41% , PAYX , PAYCHEX
1.47% , QLGC , QLOGIC
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-5.81% , BHI , BAKER HUGHES
-0.38% , FEU , Value LargeCap Euro STOXX 50 DJ, FEU
-1.42% , EWD , Sweden Index, EWD
-4.94% , HGSI , Human Genome Sciences Inc
-3.14% , CTAS , CINTAS
-1.13% , ASH , ASHLAND
-2.02% , ADRA , Asia 50 BLDRS, ADRA
-0.21% , NYC , LargeCap Blend NYSE Composite iS, NYC
-3.24% , NBR , NABORS
-0.29% , EWU , United Kingdom Index, EWU
-2.25% , SLB , SCHLUMBERGER
-2.29% , ORCL , ORACLE
-0.71% , PMCS , PMC SIERRA
-4.14% , SHLD , SEARS HOLDINGS
-1.70% , EWP , Spain Index, EWP
-2.41% , RSH , RADIOSHACK
-2.17% , HPQ , HEWLETT PACKARD
-2.30% , JBL , JABIL CIRCUIT
-2.20% , GNW , GENWORTH FINANCIAL
-0.81% , IGE , Energy & Nat Res iS GS, IGE
-2.94% , RDC , ROWAN COMPANIES
-1.01% , FDL , Dividend Leaders, FDL
-0.69% , IXG , Financials Global LargeCap Value, IXG
-0.96% , BLK , BlackRock Inc.
-1.54% , CMA , COMERICA
-1.81% , HAL , HALLIBURTON
-2.02% , APA , APACHE
-0.27% , RPV , Value S&P 500, RPV
-0.41% , EWK , Belgium Index, EWK
-2.23% , NE , NOBLE
-1.45% , NYT , NY TIMES STK A
-0.65% , TUP , TUPPERWARE
-1.27% , SWY , SAFEWAY
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
1.54% India PS, PIN
1.42% India Earnings WTree, EPI
1.13% Bond, 20+ Years Treasury, TLT
1.11% Mexico Index, EWW
1.08% Homebuilders SPDR, XHB
1.02% Taiwan Index, EWT
0.88% Transportation Av DJ, IYT
0.78% Biotech SPDR, XBI
0.66% Turkey MSCI iS, TUR
0.62% Bond Muni ATM-Free S&P iS, MUB
0.57% Oil, Crude, U.S. Oil Fund, USO
0.52% Oil Fund PowerShares, DBO
0.51% Bond, 10 Year Treasury, IEF
0.47% Frontier Markets Guggenheim , FRN
0.45% Bond, Corp, LQD
0.45% Emerging 50 BLDRS, ADRE
0.45% Indonesia MV, IDX
0.41% Thailand MSCI iS, THD
0.41% Semiconductor iS IGW, SOXX
0.40% China 25 iS, FXI
0.37% Telecom DJ US, IYZ
0.24% Bond, Aggregate, AGG
0.24% Singapore Index, EWS
0.23% Emerging VIPERs, VWO
0.23% Latin Am 40, ILF
0.22% Growth MidCap Russell, IWP
0.21% Malaysia Index, EWM
0.20% Networking, IGN
0.19% Silver Trust iS, SLV
0.19% Bond, TIPS, TIP
0.17% Emerging Markets, EEM
0.15% Consumer Staples SPDR, XLP
0.14% Bear, Short S&P 500, SH
0.14% Growth SmallCap VIPERs, VBK
0.13% Growth SmallCap R 2000, IWO
0.12% Consumer Discretionary SPDR, XLY
0.10% Microcap Russell, IWC
0.10% Growth MidCap 400 B, IJK
0.08% Basic Materials DJ US, IYM
0.07% Canada Index, EWC
0.06% Dividend International, PID
0.06% Bond, 1-3 Year Treasury, SHY
0.06% Financial Preferred, PGF
0.05% Gold Shares S.T., GLD
0.05% Preferred Stock iS, PFF
0.05% China LargeCap Growth G D H USX PS, PGJ
0.04% Semiconductor SPDR, XSD
0.04% Growth BARRA Small Cap 600, IJT
0.03% Growth 1000 Russell, IWF
0.01% QQQ Nasdaq 100 Trust, QQQ
0.00% Materials SPDR, XLB
0.00% Bond Treasury Short-Term iS, SHV
-0.01% Technology DJ US, IYW
-0.01% Info Tech VIPERs, VGT
-0.02% Brazil Index, EWZ
-0.02% MidCap Russell, IWR
-0.03% SmallCap Russell 2000, IWM
-0.03% SmallCap S&P 600, IJR
-0.03% Growth VIPERs, VUG
-0.03% Technology SPDR, XLK
-0.04% Health Care SPDR, XLV
-0.05% Small Cap VIPERs, VB
-0.05% Industrial SPDR, XLI
-0.08% Chile MSCI iS, ECH
-0.08% Bond Ex-US Treas, BWX
-0.09% LargeCap VIPERs, VV
-0.10% Bond EmrgMkt JPM iS, EMB
-0.11% Dividend DJ Select, DVY
-0.11% Blend Total Market VIPERs, VTI
-0.11% MidCap S&P 400 iS, IJH
-0.11% MidCap S&P 400 SPDRs, MDY
-0.12% LargeCap Blend S&P=Weight R, RSP
-0.12% Capital Markets KWB ST, KCE
-0.12% Growth S&P 500/BARRA, IVW
-0.12% LargeCap Blend Russell 3000, IWV
-0.13% Value SmallCap S&P 600 B, IJS
-0.14% Value SmallCap Russell 2000, IWN
-0.14% REIT VIPERs, VNQ
-0.15% Bond, High-Yield Junk, JNK
-0.15% LargeCap 1000 R, IWB
-0.16% Russia MV, RSX
-0.16% Dividend SPDR, SDY
-0.16% Utilities VIPERs, VPU
-0.16% S&P 500 SPDRs LargeCap Blend, SPY
-0.18% Agriculture DB PS, DBA
-0.18% Small Cap EAFE MSCI iS, SCZ
-0.18% S&P 500 iS LargeCap Blend, IVV
-0.19% Dividend Appreciation Vipers, VIG
-0.19% Value S&P 500 B, IVE
-0.20% Utilities SPDR, XLU
-0.20% Value LargeCap Dynamic PS, PWV
-0.21% Value MidCap Russell, IWS
-0.21% Value VIPERs, VTV
-0.21% Water Resources, PHO
-0.21% Germany Index, EWG
-0.22% Real Estate US DJ, IYR
-0.23% REIT Wilshire, RWR
-0.23% LargeCap Blend S&P 100, OEF
-0.24% Commodity Tracking, DBC
-0.24% Value SmallCap VIPERS, VBR
-0.27% Growth EAFE MSCI, EFG
-0.28% Value 1000 Russell, IWD
-0.29% United Kingdom Index, EWU
-0.29% Realty Cohen & Steers, ICF
-0.30% DIAMONDS (DJIA), DIA
-0.30% Global 100, IOO
-0.32% Dividend High Yield Equity PS, PEY
-0.32% Bond, High-Yield Corporate, HYG
-0.34% Financials VIPERs, VFH
-0.36% Financial DJ US, IYF
-0.36% Value MidCap S&P 400 B, IJJ
-0.38% Financial Services DJ, IYG
-0.38% South Korea Index, EWY
-0.39% Pacific ex-Japan, EPP
-0.41% Belgium Index, EWK
-0.42% Switzerland Index, EWL
-0.42% South Africa Index, EZA
-0.44% Financial SPDR, XLF
-0.47% Australia Index, EWA
-0.51% Global ex US ACWI iS, ACWX
-0.55% Japan Index, EWJ
-0.55% Pacific VIPERs, VPL
-0.58% Europe 350 S&P Index, IEV
-0.59% Metals & Mining SPDR, XME
-0.59% Value EAFE MSCI, EFV
-0.60% European VIPERs, VGK
-0.61% Energy Global, IXC
-0.62% Hong Kong Index, EWH
-0.66% EAFE Index, EFA
-0.74% EMU Europe Index, EZU
-0.75% France Index, EWQ
-0.81% Energy & Nat Res iS GS, IGE
-0.93% Energy VIPERs, VDE
-0.98% Energy DJ, IYE
-1.08% Netherlands Index, EWN
-1.08% Austria Index, EWO
-1.19% Energy SPDR, XLE
-1.42% Sweden Index, EWD
-1.55% WilderHill Clean Energy PS, PBW
-1.70% Spain Index, EWP
-1.75% Italy Index, EWI
