Highlights based on trading on Thursday, May 17, 2012:

The Dow Theory signaled a Primary Tide Bear Market on 5/17/12 when both Industrials and Transports closed below their closing price lows of the previous 4 months.

Both stocks and commodities are demonstrating trend weakness, while U.S. Treasury Notes and Bonds demonstrate trend strength. Investors are choosing safety over risk.

The S&P 500 (SPX: 1,304.86) fell 19.94 points or 1.51 % on Thursday to its lowest closing price in 4 months, since 1/17/12. SPX has now lost 8.05% over 45 days from its high of 1,419.04 on 4/2/12, based on closing prices.

NYSE trading volume rose 9%. Volume has been increasing when stock prices decline and decreasing when stock prices advance, suggesting that selling pressure is greater than buying pressure.

SPX fell further below its 50-day SMA. SPX first fell below its 50-day SMA on Friday, 5/4/12, and has remained below it every day since.

Popular momentum indicators based on the SPX daily close price have been relatively weak and are still falling to lower lows. RSI(14) fell to 25.09 and has been relatively bearish since it closed at 75.38 on 2/9/12. Stochastic(14,3,3) fell to 0.79, down from 90.04 on 4/30/12. MACD(12,26,9) fell to -15.41, is below its Signal Line, and is down from 19.08 on 2/9/12.

The path of least resistance points to further downside risk for the stock market.

The following ETFs, ranked by Relative Strength, with the weakest at the bottom of the list, closed below their closing price lows of the previous 4 months to confirm the Dow Theory Bear Trend:

SmallCap Blend S&P 600 iS, IJR
Dividend SPDR, SDY
Dividend High Yield Equity PS, PEY
Value VIPERs, VTV
LargeCap Value Russell 1000 iS, IWD
SmallCap Value S&P 600 iS, IJS
LargeCap Value S&P 500 iS, IVE
Value MidCap Russell, IWS
LargeCap Blend S&P=Weight R, RSP
Small Cap VIPERs, VB
Bond, High Yield Corp iBoxx iS, HYG
Transportation Av DJ, IYT
Value SmallCap VIPERS, VBR
Industrial SPDR, XLI
SmallCap Value Russell 2000 iS, IWN
Bond, High-Yield Junk, JNK
SmallCap Blend Russell 2000 iS, IWM
SmallCap Growth Russell 2000 iS, IWO
Water Resources, PHO
Telecom DJ US, IYZ
Global 100, IOO
Global LargeCap Blend MSCI iS, ACWI
Commodity Tracking, DBC
Dividend International, PID
United Kingdom Index, EWU
Semiconductor iS IGW, SOXX
Indonesia MV, IDX
Oil Fund PowerShares, DBO
Energy DJ, IYE
Oil, Crude, U.S. Oil Fund, USO
Energy SPDR, XLE
Capital Markets KWB ST, KCE
Chile MSCI iS, ECH
Materials SPDR, XLB
Pacific VIPERs, VPL
Energy VIPERs, VDE
Pacific ex-Japan, EPP
South Korea Index, EWY
Foreign LargeCap EAFE MSCI iS, EFA
Australia Index, EWA
Energy Global, IXC
Dividend ex-U.S. DJ iS, IDV
Global ex U.S. LargeCap Blend, ACWX
Europe 350 S&P Index, IEV
Emerging Markets MSCI iS, EEM
Canada Index, EWC
Netherlands Index, EWN
Basic Materials DJ US, IYM
Emerging VIPERs, VWO
Sweden Index, EWD
Value EAFE MSCI, EFV
Semiconductor SPDR, XSD
European VIPERs, VGK
Emerging 50 BLDRS, ADRE
Energy & Nat Res iS GS, IGE
China 25 iS, FXI
Networking, IGN
Latin Am 40, ILF
China LargeCap Growth G D H USX PS, PGJ
France Index, EWQ
EMU Europe Index, EZU
Austria Index, EWO
India PS, PIN
India Earnings WTree, EPI
Brazil Index, EWZ
Russia MV, RSX
Metals & Mining SPDR, XME
Italy Index, EWI
Spain Index, EWP
WilderHill Clean Energy PS, PBW
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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:
Full report available by subscription only (click here).
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Stock Market Indicators

The Dow Theory signaled a Primary Tide Bear Market on 5/17/12 when both Industrials and Transports closed below their closing price lows of the previous 4 months. A potential trend change was suggested as early as 3/6/12, when both Industrials and Transports fell below their lows of the previous 4 weeks. The Averages gave an even earlier warning by diverging after 2/3/12, as the Transports turned corrective and failed to confirm higher highs by the Industrials. Again on 5/1/12, the Industrials rose to a higher closing price high while the Transports failed to rise to a higher closing price high, thereby indicating a non-confirmation and bearish divergence.

NASDAQ Composite/S&P 500 Relative Strength Ratio fell below its lows of the previous 3 months on 5/17/12 after falling below its 50-day SMA on 4/30/12. Confirming this downtrend, absolute price also fell below its lows of the previous 3 months on 5/17/12 after falling below its 50-day SMA on 5/3/12.

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below its lows of the previous 3 years on 5/17/12, reconfirming its bearish trend. Systematically, BKF/SPY remains bearish below its 50-day SMA, below its 200-day SMA, and with the 50-day SMA 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 3 years on 5/16/12, reconfirming its bearish trend. EEM/SPY remains below its 50-day and 200-day SMAs. Longer term, 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) reconfirmed a bearish major trend when it fell below its lows of the previous 8 years on 5/16/12. Systematically, EFA/SPY remains bearish below its 50-day and 200-day SMAs, and the 50-day SMA has remained 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 2 years on 5/17/12. Systematically, OEX/SPX remains bullish: above its 50-day SMA, above its 200-day SMA, and with the 50-day SMA above the 200-day SMA. 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 its lows of the previous 5 months on 5/17/12, reconfirming renewed downside momentum. Systematically, IWM/SPY returned to bearish status again on 4/20/12 when the 50-day SMA crossed below the 200-day SMA. Longer term, IWM/SPY has been relatively weak for more than a year, since 4/5/11.

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell steeply again on 5/17/12. Systematically, MDY/SPY is neutral: below its 50-day SMA, below its 200-day SMA, but with the 50-day SMA still slightly above the 200-day SMA.
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Sentiment for Contrary Thinking

Investor sentiment data indicated alarming degrees of optimism and bullish complacency at the 2012 market highs. That is bearish because when the majority of investors has been bullish for some time, investors 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. Some of the most recent data suggests that investors’ sentiment may be beginning to shift away from bullish complacency.

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. As of 5/17/12, however, sentiment had reversed, with only 23.58% Bulls and 45.97% Bears.

Investors Intelligence Sentiment: according to the Investors Intelligence weekly survey of stock market newsletter advisors, there were 54.8% Bulls reported on 2/15/11, the highest since the stock market top in May, 2011. On 5/9/12, there were only 20.4% Bears, the lowest level since 6/1/11. This is still suggesting too many bulls.

VIX Fear Index rose to an intraday peak of 24.51 on 5/17/12, the highest level since 12/19/12, suggesting a beginning of a shift toward skepticism from bullish complacency. VIX fell to 13.66 intraday on 3/16/12, its lowest level since 6/20/07, and down from a peak of 48.00 on 8/8/11. That large drop indicated a shift away from fear to 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
1422.38, high of 4/2/2012
1415.32, high of 5/1/2012
1388.71, low of 5/3/2012
1383.09, 50-day SMA
1381.50, Fibonacci 78.6% of 2007-2009 range
1340.34, Fibonacci 23.6% R of 2011-12 range

The S&P 500 Composite Potential Support
1300.49, low of 1/30/2012
1289.59, Fibonacci 38.2% R of 2011-12 range
1277.58, low of 1/13/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1278.04, 200-day SMA
1257.58, Fibonacci 61.8% of 2011 range
1248.58, Fibonacci 50.0% R of 2011-12 range
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 11/3/2011
1231.04, high of 12/16/2011
1226.64, low of 11/9/2011
1222.68, Fibonacci 50% of 2011 range
1224.57, high of 12/19/2011
1215.20, low of 12/16/2011
1207.56, Fibonacci 61.8% R of 2011-12 range
1204.49, Fibonacci 23.6% of 2009-11 range
1202.37, low of 12/19/2011
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
1149.16, Fibonacci 78.6% R of 2011-12 range
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) remains systematically bullish: above its 50-day SMA, above its 200-day SMA, and with the 50-day SMA above the 200-day SMA every day since 6/24/11. Support 117.44, 115.69, 114.82, 109.69, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 123.05 and 123.43.

Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) remains systematically bullish: above its 50-day SMA, above its 200-day SMA, and with the 50-day SMA above the 200-day SMA every day since 6/21/11. Support 105.85, 105.22, 104.77, 103.90, 102.51, 101.77, 101.36, 101.11, 99.79, and 97.66. Resistance none.

Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) fell below its lows of the previous 5 months on 5/17/12. Systematically, JNK/LQD remains neutral: below its 50-day SMA, below its 200-day SMA, but the 50-day SMA has been above the 200-day SMA every day since 4/16/12.

U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) turned down after 3/19/12 and fell below its lows of the previous 3 months on 5/17/12. Systematically, TIP/IEF remains neutral: below its 50-day SMA, below its 200-day SMA, and the 50-day SMA has been above the 200-day SMA every day since 3/14/12.
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Tangible Assets, Commodities

U.S. dollar ETF (UUP) closed above its closing price highs of the previous 3 months on 5/17/12. UUP remains systematically bullish: above its 50-day SMA, above its 200-day SMA, and with the 50-day SMA above the 200-day SMA. Support 22.14, 21.89, 21.74, 21.58, 21.07, and 20.84. Resistance 22.85, 23.52, 25.84, 27.19, 28.97.

CRB Commodity Price Index fell below its lows of the previous 19 months on 5/14/12, for another a bearish trend confirmation. Systematically, CRB remains bearish: below its 50-day SMA, below its 200-day SMA, and with the 50-day SMA below the 200-day SMA every day since 8/18/11.

Agriculture, PowerShares DB Agriculture Fund ETF (DBA) fell below the lows of the previous 20 months on 5/14/12, for another a bearish trend confirmation. Systematically, DBA remains 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) fell further below its lows of the previous 6 months on 5/17/12. USO still looks bearish on the chart. Systematically, USO remains neutral: below its 50-day SMA, below its 200-day SMA, but the 50-day SMA has remained above the 200-day SMA consistently every day since 1/3/12. Support 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 36.79, 40.29, 41.38, 42.30, and 45.60.

Gold, SPDR Gold Shares ETF (GLD) fell below its lows of the previous 4 months on 5/16/12. Systematically, GLD turned bearish on 4/17/12, when its 50-day SMA crossed below its 200-day SMA. Support: 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 155.57, 162.18, 163.20, 164.89, 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 its lows of the previous 3 years on 5/15/12, thereby reconfirming a bearish major trend for the long term. Systematically, GDX/GLD remains bearish: below its 50-day and 200-day SMAs, and 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 its lows of the previous 4 months on 5/16/12. Systematically, SLV remains bearish: below its 50-day and 200-day SMAs, and with the 50-day SMA below the 200-day SMA every day since 10/27/11. Support 25.65 and 24.44. Resistance: 28.60, 30.52, 31.64, 32.34, 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 months on 5/16/12, reconfirming a downtrend for the medium term. SLV/GLD remains below its 50-day SMA, 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 its lows of the previous 4 months on 5/17/12. JJC fell below its 200-day SMA on 5/3/12 and fell below its 50-day SMA on 5/2/12. JJC remains far below its 2011 high at 61.69 and has underperformed 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 weakness 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
5.19% , MZZ , Short 200% MidCap 400 PS, MZZ
2.62% , MYY , Short 100% MidCap 400, MYY
4.21% , WMT , WAL MART STORES
3.05% , SHLD , SEARS HOLDINGS
2.12% , PSQ , Short 100% QQQ, PSQ
1.71% , LUV , SOUTHWEST AIRLS
1.77% , TLT , Bond, 20+ Years Treasury, TLT
4.21% , QID , Short 200% QQQ PS, QID
1.82% , WLP , WELLPOINT HEALTH
1.22% , DOG , Short 100% Dow 30, DOG
1.48% , SH , Short 100% S&P 500, SH
3.04% , SDS , Short 200% S&P 500 PS, SDS
0.86% , TLH , Bond 10-20 Year US Treas, TLH
1.20% , VZ , VERIZON COMMS
0.90% , PTEN , Patterson-UTI Energy Inc
0.95% , ISIL , INTERSIL CORP
2.56% , DXD , Short 200% Dow 30 PS, DXD
1.55% , MDP , MEREDITH
0.14% , SYY , SYSCO
4.02% , NEM , NEWMONT MINING
1.40% , CECO , CAREER EDUCATION CORP
2.23% , GLD , Gold Shares S.T., GLD
0.16% , BSX , BOSTON SCIENT
1.11% , XRX , XEROX
0.06% , AGG , Bond, Aggregate, AGG
0.19% , DUK , DUKE ENERGY
0.12% , AA , ALCOA
0.20% , BWX , Bond Ex-US Treas, BWX
0.28% , HP , Helmerich & Payne HP
0.30% , T , AT&T Corp., T
0.14% , HPQ , HEWLETT PACKARD
0.37% , IEF , Bond, 10 Year Treasury, IEF

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-4.83% , PKB , Building & Construction, PKB
-2.30% , JKL , Value SmallCap iS M, JKL
-5.78% , KWT , Solar Energy MV, KWT
-5.99% , AZO , AUTOZONE
-2.45% , JKG , MidCap Blend Core iS M, JKG
-2.73% , JKH , MidCap Growth iS M, JKH
-6.40% , KSU , Kansas City Southern, KSU
-7.18% , RYAAY , Ryanair Holdings plc
-1.89% , RPV , Value S&P 500, RPV
-6.63% , SIRI , Sirius Satellite
-1.73% , KCE , Capital Markets KWB ST, KCE
-1.57% , ADRA , Asia 50 BLDRS, ADRA
-5.54% , CBS , CBS CORP.
-6.09% , DLTR , Dollar Tree Stores Inc
-5.00% , SNV , SYNOVUS
-3.42% , PEJ , Leisure & Entertainment, PEJ
-2.14% , PZI , Micro Cap Zachs, PZI
-2.81% , IJK , Growth MidCap 400 B, IJK
-4.55% , GPC , GENUINE PARTS
-2.24% , PWC , LargeCap Blend Dynamic PS, PWC
-2.17% , IJT , Growth BARRA Small Cap 600, IJT
-2.20% , PXQ , Networking, PXQ
-5.01% , HOT , STARWOOD HOTELS
-6.50% , AIG , AMER INTL GROUP
-2.24% , IYJ , Industrial LargeCap Blend DJ US, IYJ
-0.88% , PIC , Insurance, PIC
-9.99% , NIHD , NII Holdings, Inc.
-6.87% , BC , BRUNSWICK
-4.42% , CAT , CATERPILLAR
-1.92% , JKJ , SmallCap Core iS M, JKJ
-7.87% , LPX , LOUISIANA PAC
-2.70% , MDY , MidCap S&P 400 SPDRs, MDY
-5.74% , CROX , CROCS Inc., CROX
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
3.31% Silver Trust iS, SLV
2.23% Gold Shares S.T., GLD
1.77% Bond, 20+ Years Treasury, TLT
1.48% Bear, Short S&P 500, SH
0.89% Japan Index, EWJ
0.41% Agriculture DB PS, DBA
0.37% Bond, 10 Year Treasury, IEF
0.33% Bond, TIPS, TIP
0.25% Taiwan Index, EWT
0.20% Bond Ex-US Treas, BWX
0.12% Bond Muni ATM-Free S&P iS, MUB
0.06% Bond, Aggregate, AGG
0.00% Bond Treasury Short-Term iS, SHV
-0.03% Oil, Crude, U.S. Oil Fund, USO
-0.05% Bond, 1-3 Year Treasury, SHY
-0.06% Pacific VIPERs, VPL
-0.11% Oil Fund PowerShares, DBO
-0.22% Malaysia Index, EWM
-0.23% Commodity Tracking, DBC
-0.26% Energy & Nat Res iS GS, IGE
-0.51% Thailand MSCI iS, THD
-0.56% Utilities SPDR, XLU
-0.61% South Africa Index, EZA
-0.62% Bond EmrgMkt JPM iS, EMB
-0.62% India PS, PIN
-0.62% Indonesia MV, IDX
-0.63% Utilities VIPERs, VPU
-0.63% Energy SPDR, XLE
-0.64% Energy DJ, IYE
-0.65% Value LargeCap Dynamic PS, PWV
-0.71% Consumer Staples SPDR, XLP
-0.71% Telecom DJ US, IYZ
-0.73% Energy VIPERs, VDE
-0.74% Bond, Corp, LQD
-0.78% Small Cap EAFE MSCI iS, SCZ
-0.86% Canada Index, EWC
-0.91% Mexico Index, EWW
-0.92% Switzerland Index, EWL
-0.93% Health Care SPDR, XLV
-0.96% Energy Global, IXC
-0.99% Dividend High Yield Equity PS, PEY
-1.03% Global 100, IOO
-1.04% Growth EAFE MSCI, EFG
-1.04% Value EAFE MSCI, EFV
-1.05% India Earnings WTree, EPI
-1.07% Belgium Index, EWK
-1.10% Global ex US ACWI iS, ACWX
-1.12% Spain Index, EWP
-1.17% Singapore Index, EWS
-1.22% EAFE Index, EFA
-1.25% Netherlands Index, EWN
-1.25% LargeCap Blend S&P 100, OEF
-1.26% Dividend International, PID
-1.26% EMU Europe Index, EZU
-1.28% DIAMONDS (DJIA), DIA
-1.29% Bond, High-Yield Junk, JNK
-1.30% Emerging VIPERs, VWO
-1.30% South Korea Index, EWY
-1.32% France Index, EWQ
-1.35% Italy Index, EWI
-1.35% Value 1000 Russell, IWD
-1.36% Emerging Markets, EEM
-1.37% Metals & Mining SPDR, XME
-1.38% Bond, High-Yield Corporate, HYG
-1.40% Value VIPERs, VTV
-1.41% Value S&P 500 B, IVE
-1.42% Dividend DJ Select, DVY
-1.42% Technology SPDR, XLK
-1.46% Sweden Index, EWD
-1.48% S&P 500 SPDRs LargeCap Blend, SPY
-1.49% S&P 500 iS LargeCap Blend, IVV
-1.51% Chile MSCI iS, ECH
-1.55% Dividend Appreciation Vipers, VIG
-1.55% Austria Index, EWO
-1.58% Turkey MSCI iS, TUR
-1.58% Networking, IGN
-1.60% Preferred Stock iS, PFF
-1.62% Growth S&P 500/BARRA, IVW
-1.63% Germany Index, EWG
-1.63% Dividend SPDR, SDY
-1.64% European VIPERs, VGK
-1.66% Europe 350 S&P Index, IEV
-1.66% LargeCap VIPERs, VV
-1.73% Hong Kong Index, EWH
-1.73% LargeCap Blend Russell 3000, IWV
-1.73% Blend Total Market VIPERs, VTI
-1.73% Capital Markets KWB ST, KCE
-1.74% LargeCap 1000 R, IWB
-1.75% China LargeCap Growth G D H USX PS, PGJ
-1.77% Technology DJ US, IYW
-1.77% Pacific ex-Japan, EPP
-1.79% Semiconductor SPDR, XSD
-1.82% Financial Preferred, PGF
-1.83% Info Tech VIPERs, VGT
-1.85% Australia Index, EWA
-1.86% Frontier Markets Guggenheim , FRN
-1.90% Growth 1000 Russell, IWF
-1.96% LargeCap Blend S&P=Weight R, RSP
-1.96% Microcap Russell, IWC
-1.97% Growth VIPERs, VUG
-2.03% Value SmallCap Russell 2000, IWN
-2.04% Financial SPDR, XLF
-2.05% Financial Services DJ, IYG
-2.07% Emerging 50 BLDRS, ADRE
-2.10% SmallCap S&P 600, IJR
-2.11% QQQ Nasdaq 100 Trust, QQQ
-2.12% Financials VIPERs, VFH
-2.12% Financial DJ US, IYF
-2.14% Value MidCap Russell, IWS
-2.14% Industrial SPDR, XLI
-2.17% United Kingdom Index, EWU
-2.17% Growth BARRA Small Cap 600, IJT
-2.18% China 25 iS, FXI
-2.20% Materials SPDR, XLB
-2.21% Semiconductor iS IGW, SOXX
-2.26% Latin Am 40, ILF
-2.26% Value SmallCap S&P 600 B, IJS
-2.26% Basic Materials DJ US, IYM
-2.27% SmallCap Russell 2000, IWM
-2.36% Value SmallCap VIPERS, VBR
-2.39% MidCap Russell, IWR
-2.47% Value MidCap S&P 400 B, IJJ
-2.54% Small Cap VIPERs, VB
-2.58% Growth SmallCap R 2000, IWO
-2.64% Consumer Discretionary SPDR, XLY
-2.67% MidCap S&P 400 iS, IJH
-2.68% Growth MidCap Russell, IWP
-2.70% MidCap S&P 400 SPDRs, MDY
-2.75% Growth SmallCap VIPERs, VBK
-2.77% Real Estate US DJ, IYR
-2.81% Growth MidCap 400 B, IJK
-2.82% Realty Cohen & Steers, ICF
-2.88% REIT Wilshire, RWR
-2.90% Water Resources, PHO
-2.90% Brazil Index, EWZ
-2.92% REIT VIPERs, VNQ
-3.10% Transportation Av DJ, IYT
-3.14% WilderHill Clean Energy PS, PBW
-3.40% Biotech SPDR, XBI
-4.84% Russia MV, RSX
-5.18% Homebuilders SPDR, XHB