Materials stock sector Relative Strength Ratio (XLB/SPY) fell below 6-month’s lows on 3/25/13.
Industrial stock sector Relative Strength Ratio (XLI/SPY) fell below the lows of the previous 10 weeks on 3/25/13.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below the lows of the previous 4 years on 3/25/13, again suggesting a major downtrend. Price peaked at 42.29 on 2/1/13 and fell to another 4-month low on 3/25/13.
The S&P 500 (SPX: 1,551.69) fell 0.33%, Nasdaq Composite Index declined 0.30%, the Dow Jones Industrial Average lost 0.44%, and the Dow Jones Transportation Average fell 0.72%. Breadth was negative, with 1582 Advances and 2359 Declines. Volume on the NYSE rose 11% to a level near its 200-day SMA.
The S&P 500 appears to have stalled out since 3/14/13 after encountering technical resistance just below 1,565.15, which was its highest close set on 10/9/2007. By remaining below that old top, the S&P 500 shows a non-confirmation and bearish divergence compared to the Dow-Jones Industrial and Transportation Averages, both of which exceeded their old highs this month.
Daily price momentum oscillators have been diverging bearishly while price indexes rose to new highs in recent weeks. Momentum oscillators have remained below their 2011-2012 highs and below their highs of late January. For example, RSI(14) based on the S&P 500 Index, now at 57.58, peaked at 74.46 on 1/29/13. MACD(12,26,9), now at 12.02, peaked at 17.88 on 1/29/13. Bearishly diverging momentum is a problem because momentum is a leading indicator of price.
The Art of Contrary Thinking has been calling for questioning overwhelming bullish sentiment. Objective investor sentiment data clearly have demonstrated extremely high degrees of optimism and bullish complacency, matching or exceeding extremes at past market price tops. The pendulum of emotion tends to swing too far in one direction, but the market mood always reverts to the mean–eventually. Sentiment extremes are a leading indicator of price.
Our clients’ separately managed accounts made gains in 6 of the past 7 consecutive quarters; see:
Robert W. Colby Asset Management, Inc. (click here).
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9 major U.S. stock sectors ranked in order of long-term relative strength:
Financial (XLF) Neutral, Under Weight. The Relative Strength Ratio (XLF/SPY) whipsawed back above its 50-day SMA on 3/4/13, thereby turning systematically bullish again. Longer term, although the XLF/SPY has moderately outperformed for nearly 4 years, since 3/6/09, it has substantially underperformed since 3/23/04, and the secular trend may be bearish still. Absolute price turned systematically bullish on 12/5/12 when it rose above its 50-day SMA. Price remains above its 200-day SMA, and the 50-day SMA has remained above the 200-day SMA since 2/21/12. Support: 18.06, 17.16, 16.95, 16.09, 15.98, 15.43, 15.06, 14.97, 14.84, 14.34, 14.09, 13.97, 13.30, 13.12, 12.86, 12.21, 11.73, 10.95, 10.83, 9.41, and 5.88. Resistance: 18.48, 18.51, 20.70, 24.50, and 28.17.
Consumer Discretionary (XLY) Neutral, Under Weight. The Relative Strength Ratio (XLY/SPY) whipsawed back above its 50-day SMA on 2/27/13, thereby turning systematically bullish again. XLY/SPY remains above its 200-day SMA, and the 50-day SMA has been above the 200-day SMA since 12/16/11. Absolute price turned systematically bullish on 11/23/12 when price crossed above its 50-day SMA. The 50-day SMA has remained above the 200-day SMA since 12/16/11. Support: 51.46, 49.40, 48.07, 44.34, 43.01, 42.44, 41.44, 41.21, 40.83, 39.97, 39.23, 38.75, 36.33, 33.07, 32.66, 31.70, 29.80, 28.64, 28.21, and 26.62. Resistance: 53.01.
Health Care (XLV) Neutral, Under Weight. The Relative Strength Ratio (XLV/SPY) turned systematically bullish again on 1/24/13, when it whipsawed back above its 50-day SMA. XLV/SPY remains above its 200-day SMA, and the 50-day SMA has remained above the 200-day SMA consistently every day since 6/5/12. Absolute price turned systematically bullish on 1/2/13, when it rose above its 50-day SMA. Support: 44.22, 42.71, 41.60, 40.38, 39.24, 38.48, 38.33, 37.78, 37.18, 36.88, 36.77, 36.14, 35.38, 35.15, 34.71, 34.42, 31.68, 30.11, 29.64, 28.00, and 27.49. Resistance: 45.10.
Consumer Staples (XLP) Neutral, Under Weight. The Relative Strength Ratio (XLP/SPY) has been systematically neutral most of the time over the past year, with XLP performing about in line with the SPY, while absolute price has stayed mostly bullish. Support: 38.20, 37.67, 37.36, 36.79, 35.41, 35.29, 33.56, 33.05, 32.70, 32.46, 31.84, 31.30, 30.19, 28.70, 28.07, 28.04, 27.76, 27.63, 27.46, 26.34, 25.30, and 24.95. Resistance: none.
Industrial (XLI) Neutral, Under Weight. The Relative Strength Ratio (XLI/SPY) fell below the lows of the previous 10 weeks on 3/25/13. XLI/SPY turned systematically neutral (from bullish) on 3/20/13 when it crossed below the 50-day SMA. Absolute price fell below the lows of the previous 3 weeks on 3/25/13 but remains systematically bullish, with the 50-day SMA above the 200-day SMA since 8/24/12. Support: 39.97, 38.51, 37.04, 36.71, 36.35, 35.19, 35.00, 34.32, 33.84, 33.08, 32.22, 31.08, and 27.67. Resistance: 42.16.
Energy (XLE) Neutral, Under Weight. The Relative Strength Ratio (XLE/SPY) whipsawed below its 50-day SMA on 3/18/13, thereby turning systematically neutral again. XLE has been lagging since 2/14/13. Absolute price turned systematically bullish on 12/31/12, when it rose above its 50-day SMA. Support: 77.39, 75.46, 69.57, 69.43, 67.77, 66.16, 64.64, 64.54, 61.11, 53.71, 50.33, 48.56, 46.16, and 43.66. Resistance: 80.14, 80.97, 83.27, and 91.42. Utilities (XLU) Neutral, Under Weight. The Relative Strength Ratio (XLU/SPY) fell below its lows of the previous 20 months on 1/17/13. Although currently slightly into the neutral zone above the 50-day SMA, XLU/SPY has stayed systematically bearish most of the time since 9/19/12 and could easily turn bearish again. Absolute price is systematically bullish. Support: 37.76, 37.69, 36.78, 35.09, 34.22, 33.84, 33.18, 31.94, 29.45, 27.91, 27.44, and 25.76. Resistance: 38.54, 41.98, and 44.66. Materials (XLB) Neutral, Under Weight. The Relative Strength Ratio (XLB/SPY) fell below 6-month’s lows on 3/25/13. XLB/SPY fell below its 50-day SMA on 2/5/13 and thereby turned systematically neutral (from bullish). XLB absolute price turned systematically neutral (from bullish) again on 3/25/13 when it whipsawed back down below the 50-day SMA. Support: 37.35, 36.70, 36.20, 35.44, 34.99, 34.44, 34.10, 33.58, 32.59, 31.41, 30.72, 27.77, 23.85, and 17.83. Resistance: 40.04, 40.20, 40.72, 41.28, 43.04, 45.21, and 46.54.
Technology (XLK) Bearish, Under Weight. The Relative Strength Ratio (XLK/SPY) fell below its lows of the previous 20 months on 3/13/13, again confirming its established systematically bearish major trend. XLK absolute price rose above its highs of the previous 4 months on 3/14/12 and is systematically bullish. Support: 29.91, 29.21, 29.10, 28.25, 27.21, 27.04, 26.56, 25.89, 25.66, 25.27, 24.01, 22.60, 22.47, 21.60, 20.01, and 19.51. Resistance: 30.47, 30.51, 31.22, 31.74, 32.00, 34.85, 36.40, and 39.07.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Stock Market Indicators
The Dow Theory confirmed a Primary Tide Bull Market on 2/19/13, when both Dow-Jones Industrial and Transportation Averages closed above their closing price highs of the previous 5 years.
NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY)fell below its lows of the previous 19 months on 3/13/13. Although it has recovered modestly since 3/13/13, QQQ/SPY has remained systematically bearish most of the time since 11/7/12, when the 50-day SMA fell below the 200-day SMA.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below the lows of the previous 4 years on 3/25/13, again suggesting a major downtrend. BKF/SPY fell below its 50-day SMA on 2/4/13 and fell below its 200-day SMA on 2/19/13. BKF/SPY remains systematically neutral but appears to be rapidly approaching a bearish 50/200 SMA crossover in days ahead. Price peaked at 42.29 on 2/1/13 and fell to another 4-month low on 3/25/13.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 years on 3/22/13, again confirming a major downtrend. EEM/SPY turned systematically bearish on 3/20/13 when the 50-day SMA fell below the 200-day SMA. Price peaked at 45.34 on 1/2/13 and fell to a 4-month low on 3/19/13.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below the lows of the previous 4 months on 3/25/13, again confirming a medium-term downtrend. EFA/SPY remains systematically neutral.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) turned systematically neutral on 3/15/13 when it crossed above its 50-day SMA. Large Caps tend to underperform Mid Caps and Small Caps in bullish general market trends as investors seek greater potential returns in more volatile, smaller stocks. On the other hand, Large Caps tend to outperform in bearish general market trends as investors seek the perceived relative stability and safety of large size.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) remains systematically bullish. Price rose to a new closing price high on 3/15/13, confirming its preexisting uptrend.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) remains systematically bullish. Price rose to a new high on 3/20/13, confirming its preexisting uptrend.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The S&P 500 Composite Potential Resistance
1576.09, high of 10/11/2007
1565.15, highest close on 10/9/2007
1564.91, high of 3/25/2013
The S&P 500 Composite Potential Support
1538.57, low of 3/19/2013
1518.05, 50-day SMA
1485.01, low of 2/26/2013
1474.51, high of 9/14/2012
1463.76, low of 1/15/2013
1451.64, low on 1/8/13
1448.00, high of 12/19/2012
1440.24, high of 5/19/2008
1439.15, high of 9/12/2012
1438.59, high of 12/12/2012
1434.27, high of 11/2/2012
1432.82, low of 12/20/2012
1431.39, 200-day SMA
666.79, intraday low of 3/6/2009
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fixed-Income Investments
Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT)price rose back up above its 50-day SMA on 3/22/13, thereby turning systematically neutral again. Various technical oscillators, such as RSI and MACD, show losses of downside momentum and bullish divergences since 2/1/13. Support 114.62, 109.69, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance: 119.67, 120.70, 123.71, 126.08, 127.19, 127.72, 130.69, and 132.22.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF)price whipsawed back up above its 50-day SMA on 3/18/13, thereby turning systematically neutral again. IEF formed a technical base after hitting an “oversold” low at 105.56 on 2/1/13 and successfully testing that low 3 times. Various technical oscillators, such as RSI and MACD, show losses of downside momentum and bullish divergences since 2/1/13. Support 105.56, 105.22, 104.77, 103.90, 102.51, 101.77, 101.36, 101.11, 99.79, and 97.66. Resistance: 107.38, 108.07, 108.15, 109.20, 109.32, and 109.89.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) whipsawed back up above its 50-day SMA on 3/5/13, thereby turning systematically bullish again. JNK/LQD has been neutral for most of the past 3 years, and it seems questionable whether this long-term trend is changing in any sustainable way.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) whipsawed back down below its 50-day SMA on 3/18/13, thereby turning systematically neutral again. Longer term, TIP/IEF has been neutral for most of the past 3 years. Absolute price of TIP peaked at 123.44 on 12/6/12 and remains systematically neutral.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tangible Assets, Commodities
U.S. dollar ETF (UUP) price rose above its highs of the past 6-months on 3/13/13, after closing above its 200-day SMA on 2/21/13. UUP turned systematically neutral on 2/7/13, when it rose above its 50-day SMA. Longer term, UUP has been consolidating secular trend losses since bottoming at 20.84 on 5/4/11. Support 22.35, 22.15, 21.53, 21.07, and 20.84. Resistance 22.64, 22.78, 22.96, 23.14, 23.52, 25.84, 27.19, 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA)price fell below its lows of the previous 7 months on 3/6/13, again confirming its major bearish trend. Price turned systematically bearish on 1/11/13 when the 50-day SMA crossed down below the 200-day SMA.
Crude Oil, United States Oil ETF (USO) price turned systematically neutral on 2/21/13 and remains neutral. Longer term, USO has been mostly bearish since peaking at 119.17 on 7/11/08. Support 32.87, 32.16, 31.00, 29.02, 26.28, and 22.74. Resistance 35.53, 37.17, 38.31, 40.29, 41.38, 42.30, and 45.60.
Gold, SPDR Gold Shares ETF (GLD) price fell below its lows of the previous 8 months on 2/20/13 and appears to be consolidating losses in more recent weeks. Price turned systematically bearish on 2/22/13, when the 50-day SMA fell below the 200-day SMA. Longer term, GLD has been mostly bearish since peaking at 185.85 on 9/6/11. Support: 150.84, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 156.80, 164.40, 166.94, 170.01, 174.07, 175.46, 177.40, and 185.85.
Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) turned systematically bearish again on 12/27/12, when the 50-day SMA crossed below the 200-day SMA. Longer term, GDX/GLD has remained mostly bearish for more than 6 years, since 9/5/06.
Silver, iShares Silver Trust ETF (SLV) price fell below its lows of the previous 6 months on 2/20/13 and appears to be consolidating losses in more recent weeks. Price turned systematically bearish on 3/1/13, when the 50-day SMA fell below the 200-day SMA. Longer term, SLV has been mostly bearish since peaking at 48.35 on 4/28/11. Support 27.35, 26.87, 26.13, 25.34, 25.00, 24.44, 22.52, 20.73, and 19.44. Resistance: 28.50, 28.61, 29.73, 31.41, 32.72, 33.31, 34.08, 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 6 months on 3/22/13, again confirming a medium-term downtrend. SLV/GLD remains neutral below both its 50-day SMA and its 200-day SMA.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC)fell below its lows of the previous 7 months on 3/19/13, again confirming a medium-term downtrend. JJC remains systematically neutral, below the 50-day SMA and 200-day SMA. JJC has been consolidating losses between 38.99 and 51.41 since 10/5/11. Longer term, JJC has been mostly bearish since peaking at 61.69 on 2/14/11. “Dr. Copper” is widely accepted as one of the better indicators of investor confidence (or lack thereof) in the global industrial economy, so price weakness of Copper implies a weak economic outlook.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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 later revealed to be deal stocks 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
7.10% , APOL , APOLLO GROUP
2.03% , FMCN , Focus Media, FMCN
3.43% , MHP , MCGRAW HILL
2.99% , WPO , Washington Post
2.62% , DELL , DELL
2.58% , HMA , HEALTH MGMT STK A
2.82% , MPEL , Melco Crown Entertainment, MPEL
4.34% , CLF , CLIFFS NATURAL RESOURCES, CLF
2.82% , THC , TENET HEALTHCARE
0.88% , DBO , Oil Fund PowerShares, DBO
1.20% , CMCSA , COMCAST HOLDINGS STK A
1.45% , YUM , YUM BRANDS
0.21% , PZI , Micro Cap Zachs, PZI
1.23% , EWY , South Korea Index, EWY
0.36% , SH , Short 100% S&P 500, SH
0.71% , USO , Oil, Crude, U.S. Oil Fund, USO
0.69% , QID , Short 200% QQQ PS, QID
0.54% , HOLX , Hologic, Inc., HOLX
0.76% , EIS , Israel MSCI iS, EIS
0.36% , DOG , Short 100% Dow 30, DOG
1.57% , URBN , Urban Outfitters Inc.
0.25% , SNA , SNAP ON
1.13% , BMS , BEMIS
0.54% , ALL , ALLSTATE
0.91% , EWW , Mexico Index, EWW
0.33% , PSQ , Short 100% QQQ, PSQ
0.96% , VRTX , Vertex Pharmaceuticals, VRTX
0.77% , WMT , WAL MART STORES
0.61% , SDS , Short 200% S&P 500 PS, SDS
0.49% , PX , PRAXAIR
0.96% , MOLX , MOLEX
1.54% , LTD , LIMITED BRANDS
0.48% , DISH , EchoStar Communications
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-2.81% , EWO , Austria Index, EWO
-4.67% , EWP , Spain Index, EWP
-3.56% , RHT , Red Hat Inc.
-0.48% , IGM , Technology GS, IGM
-4.16% , DB , Deutsche Bank AG, DB
-4.06% , EWI , Italy Index, EWI
-3.52% , CHKP , Check Point Software Technologies Ltd
-2.09% , CROX , CROCS Inc., CROX
-3.68% , EBAY , EBAY
-1.86% , EWK , Belgium Index, EWK
-1.13% , IGV , Software, IGV
-1.91% , PKI , PERKINELMER
-2.56% , GWW , WW GRAINGER
-3.45% , TXT , TEXTRON
-1.61% , VGK , European VIPERs, VGK
-1.72% , EWG , Germany Index, EWG
-1.01% , IDU , Utilities DJ, IDU
-1.33% , CR , CRANE
-1.97% , PLL , PALL
-0.77% , EWU , United Kingdom Index, EWU
-0.89% , XLI , Industrial SPDR, XLI
-1.60% , BC , BRUNSWICK
-1.34% , ITT , ITT INDS
-0.61% , VPL , Pacific VIPERs, VPL
-2.11% , UIS , UNISYS
-0.36% , KCE , Capital Markets KWB ST, KCE
-1.90% , MON , MONSANTO
-2.74% , FEZ , Euro STOXX 50, FEZ
-0.39% , PID , Dividend International, PID
-1.25% , SIAL , SIGMA ALDRICH
-0.43% , JNS , JANUS CAPITAL
-1.69% , EMR , EMERSON ELECTRIC
-2.38% , EXPD , Expeditors International WA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
1.67% , Thailand MSCI iS, THD
1.23% , South Korea Index, EWY
0.91% , Mexico Index, EWW
0.88% , Oil Fund PowerShares, DBO
0.71% , Oil, Crude, U.S. Oil Fund, USO
0.55% , Malaysia Index, EWM
0.38% , South Africa Index, EZA
0.36% , Bear, Short S&P 500, SH
0.32% , Silver Trust iS, SLV
0.15% , Taiwan Index, EWT
0.15% , Singapore Index, EWS
0.10% , REIT Wilshire, RWR
0.09% , Microcap Russell, IWC
0.07% , Bond, 10 Year Treasury, IEF
0.07% , Commodity Tracking, DBC
0.01% , REIT VIPERs, VNQ
0.01% , Value SmallCap VIPERS, VBR
0.01% , Bond, TIPS U.S. Treasury iS, TIP
0.00% , Bond, 1-3 Year Treasury, SHY
0.00% , Bond, Long-Term Corp iBoxx iS, LQD
0.00% , Preferred Stock iS, PFF
0.00% , Value LargeCap Dynamic PS, PWV
-0.01% , Bond Treasury Short-Term iS, SHV
-0.02% , Bond, Emerging Mkt JPM iS, EMB
-0.03% , Turkey MSCI iS, TUR
-0.04% , Bond, Intermediate US Aggregate iS, AGG
-0.04% , Agriculture DB PS, DBA
-0.05% , China LargeCap Growth G D H USX PS, PGJ
-0.05% , Financial Preferred, PGF
-0.06% , India PS, PIN
-0.06% , Growth SmallCap VIPERs, VBK
-0.07% , Small Cap VIPERs, VB
-0.07% , Bond, High-Yield Junk, JNK
-0.08% , Consumer Staples SPDR, XLP
-0.09% , Bond, 20+ Years Treasury, TLT
-0.10% , Emerging Markets MSCI iS, EEM
-0.10% , Dividend High Yield Equity PS, PEY
-0.14% , Networking, IGN
-0.14% , Semiconductor SPDR, XSD
-0.15% , Bond, High Yield Corp iBoxx iS, HYG
-0.16% , SmallCap Blend S&P 600 iS, IJR
-0.17% , Consumer Discretionary SPDR, XLY
-0.17% , SmallCap Growth S&P 600 iS, IJT
-0.17% , Bond, Muni S&P ATM-Free iS, MUB
-0.18% , Utilities VIPERs, VPU
-0.19% , SmallCap Value Russell 2000 iS, IWN
-0.20% , Gold Shares S.T., GLD
-0.20% , LargeCap Blend S&P=Weight R, RSP
-0.21% , Info Tech VIPERs, VGT
-0.21% , Utilities SPDR, XLU
-0.21% , Financials VIPERs, VFH
-0.21% , Emerging VIPERs, VWO
-0.22% , Metals & Mining SPDR, XME
-0.22% , SmallCap Blend Russell 2000 iS, IWM
-0.22% , SmallCap Growth Russell 2000 iS, IWO
-0.24% , Technology SPDR, XLK
-0.25% , Financial SPDR, XLF
-0.26% , Dividend SPDR, SDY
-0.28% , Energy VIPERs, VDE
-0.28% , MidCap S&P 400 SPDRs, MDY
-0.29% , SmallCap Value S&P 600 iS, IJS
-0.29% , Health Care SPDR, XLV
-0.29% , Bond Ex-US Treas, BWX
-0.30% , Growth VIPERs, VUG
-0.31% , Value VIPERs, VTV
-0.32% , China 25 iS, FXI
-0.33% , Indonesia MV, IDX
-0.33% , Financial Services DJ, IYG
-0.34% , Blend Total Market VIPERs, VTI
-0.34% , LargeCap VIPERs, VV
-0.36% , Capital Markets KWB ST, KCE
-0.36% , QQQ Nasdaq 100 Trust, QQQ
-0.37% , Dividend Appreciation Vipers, VIG
-0.38% , Energy SPDR, XLE
-0.39% , Dividend International, PID
-0.39% , Emerging 50 BLDRS, ADRE
-0.40% , Homebuilders SPDR, XHB
-0.42% , S&P 500 SPDRs LargeCap Blend, SPY
-0.43% , Financial DJ US, IYF
-0.44% , Semiconductor iS IGW, SOXX
-0.45% , MidCap Value S&P 400 iS, IJJ
-0.45% , Telecom DJ US, IYZ
-0.48% , DIAMONDS (DJIA), DIA
-0.48% , Australia Index, EWA
-0.49% , Latin Am 40, ILF
-0.49% , Growth MidCap Russell, IWP
-0.54% , Pacific ex-Japan, EPP
-0.55% , MidCap Blend S&P 400 iS, IJH
-0.57% , Technology DJ US, IYW
-0.57% , Global LargeCap Blend MSCI iS, ACWI
-0.58% , Brazil Index, EWZ
-0.60% , MidCap Growth S&P 400 iS, IJK
-0.61% , Pacific VIPERs, VPL
-0.61% , India Earnings WTree, EPI
-0.63% , MidCap Russell, IWR
-0.63% , LargeCap Growth Russell 1000 iS, IWF
-0.63% , Canada Index, EWC
-0.63% , Value MidCap Russell, IWS
-0.64% , Biotech SPDR, XBI
-0.67% , Realty Cohen & Steers, ICF
-0.68% , Sweden Index, EWD
-0.70% , Energy Global, IXC
-0.71% , SmallCap Blend EAFE MSCI iS, SCZ
-0.72% , Chile MSCI iS, ECH
-0.73% , LargeCap Blend Russell 3000 iS, IWV
-0.73% , LargeCap Growth S&P 500 iS, IVW
-0.74% , Energy & Nat Res iS GS, IGE
-0.75% , LargeCap Blend Russell 1000 iS, IWB
-0.76% , Energy DJ, IYE
-0.77% , United Kingdom Index, EWU
-0.77% , Hong Kong Index, EWH
-0.77% , Materials SPDR, XLB
-0.80% , LargeCap Blend S&P 500 iS, IVV
-0.81% , Growth EAFE MSCI, EFG
-0.82% , Water Resources, PHO
-0.82% , LargeCap Blend S&P 100, OEF
-0.83% , LargeCap Value Russell 1000 iS, IWD
-0.85% , LargeCap Value S&P 500 iS, IVE
-0.86% , Global ex U.S. LargeCap Blend, ACWX
-0.87% , Global 100, IOO
-0.87% , WilderHill Clean Energy PS, PBW
-0.89% , Industrial SPDR, XLI
-0.91% , Real Estate US DJ iS, IYR
-0.91% , Frontier Markets Guggenheim , FRN
-0.93% , Japan Index, EWJ
-0.99% , Switzerland Index, EWL
-1.03% , Dividend U.S. DJ iS, DVY
-1.03% , Transportation Av DJ, IYT
-1.12% , Russia MV, RSX
-1.13% , Basic Materials DJ US, IYM
-1.18% , Dividend ex-U.S. DJ iS, IDV
-1.25% , Foreign LargeCap EAFE MSCI iS, EFA
-1.56% , Europe 350 S&P Index, IEV
-1.58% , Value EAFE MSCI, EFV
-1.61% , European VIPERs, VGK
-1.72% , Germany Index, EWG
-1.72% , Netherlands Index, EWN
-1.86% , Belgium Index, EWK
-2.35% , EMU Europe Index, EZU
-2.64% , France Index, EWQ
-2.81% , Austria Index, EWO
-4.06% , Italy Index, EWI
-4.67% , Spain Index, EWP
