The Dow-Jones Industrial Average rose to a new 2-year high on Wednesday 4/20/11. But the Dow-Jones Transportation Average, the A-D Line, the S&P 500, and most other indexes and indicators failed to close above their highs of the previous 2-years. This is a “Non Confirmation”, and it casts doubt on the validity of the Industrials’ upside breakout.
S&P 500 Composite (SPX, 1,330.36) rose 17.74 points or 1.35%. SPX closed above the highs of the previous 6 trading days, turning the short-term trend bullish.
Trading volume on the NYSE rose 11% above Tuesday’s slow pace but remains at a relatively low level.
The intermediate-term stock market trend still appears questionable.
VIX Fear Index fell below its 3-year range, hitting 14.30 intraday, and again confirming a preexisting trend toward bullish complacency.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows, again reconfirming its preexisting bearish major trend.
Financial SPDR stock sector ETF Relative Strength Ratio (XLF/SPY) fell below 2-year lows and remains bearish.
The U.S. dollar price fell below the lows of the previous 16 months, again reconfirming a long-term, major downtrend.
Silver and Gold rose to new highs, again reconfirming major uptrends.
Silver/Gold Ratio rose above 27-year highs, again reconfirming its preexisting bullish major trend.
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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
3.28% , BDH , Broadband H, BDH
4.25% , PSI , Semiconductors, PSI
3.18% , FEU , Value LargeCap Euro STOXX 50 DJ, FEU
1.61% , PXN , Nanotech Lux, PXN
8.27% , MU.O , MICRON TECH
4.23% , SOXX , Semiconductor iS IGW, SOXX
5.76% , RHT , Red Hat Inc.
1.31% , IAH , Internet Architecture H, IAH
2.11% , PWT , Growth SmallCap Dynamic PS, PWT
5.29% , MBI , MBIA
7.80% , INTC , INTEL
2.69% , IXN , Technology Global, IXN
4.64% , EMC , EMC
6.66% , ALTR , ALTERA
3.65% , PXQ , Networking, PXQ
4.16% , IR , INGER RAND
5.83% , SHLD , SEARS HOLDINGS
2.44% , EFG , Growth EAFE MSCI, EFG
4.53% , ADSK , AUTODESK
6.47% , WYNN , Wynn Resorts L
1.58% , RSP , LargeCap Blend S&P=Weight R, RSP
4.70% , SMH , Semiconductor H, SMH
4.30% , UTX , UNITED TECH
3.38% , QLGC , QLOGIC
1.58% , PZI , Micro Cap Zachs, PZI
3.10% , EWO , Austria Index, EWO
1.62% , ITF , Japan LargeCap Blend TOPIX 150, ITF
3.76% , WAT , WATERS
1.73% , RZV , Value SmallCap S&P 600, RZV
6.82% , KLAC , KLA TENCOR
2.59% , IDX , Indonesia MV, IDX
4.03% , WMB , WILLIAMS
1.83% , PBW , WilderHill Clean Energy PS, PBW
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-11.20% , MTG , MGIC INVESTMENT
-4.08% , TYC , TYCO INTL
-4.12% , WFC , WELLS FARGO
-1.45% , EPU , Peru MSCI iS, EPU
-1.73% , MYY , Short 100% MidCap 400, MYY
-1.22% , RKH , Bank Regional H, RKH
-2.64% , CSX , CSX
-3.31% , DXD , Short 200% Dow 30 PS, DXD
-1.28% , UNP , UNION PACIFIC
-2.24% , PSQ , Short 100% QQQ, PSQ
-1.60% , DGX , QUEST DIAG
-2.56% , DV , DeVry, Inc.
-4.40% , SYK , STRYKER
-2.81% , ZMH , ZIMMER HLDGS
-1.44% , SH , Short 100% S&P 500, SH
-4.62% , QID , Short 200% QQQ PS, QID
-1.21% , DISH , EchoStar Communications
-1.54% , KR , KROGER
-0.74% , FHN , First Horizon National
-1.09% , TXT , TEXTRON
-0.87% , DYN , DYNEGY
-1.90% , APOL , APOLLO GROUP
-0.68% , PFE , PFIZER
-0.67% , KSU , Kansas City Southern, KSU
-0.60% , EK , EASTMAN KODAK
-0.62% , HBAN , HUNTINGTON
-0.85% , NSC , NORFOLK SOUTHERN
-1.12% , PLD , PROLOGIS TRUST
-3.66% , MZZ , Short 200% MidCap 400 PS, MZZ
-0.57% , ABT , ABBOTT LABS
-2.77% , SDS , Short 200% S&P 500 PS, SDS
-0.39% , IBM , IBM
-1.06% , TAP , ADOLPH COORS STK B, TAP
9 major U.S. stock sectors ranked in order of long-term relative strength:
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) has been consolidating gains since 4/5/11 and remains neutral. Absolute price has been consolidating gains since 4/6/11. Support 75.18, 72.85, 68.73, 67.49, 65.25, 65.03, 60.96, 60.21, 57.70, 55.68, 53.22, 50.33, 48.56, 46.16, and 43.66. Resistance 80.97, 83.27, and 91.42.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) has been consolidating gains since 4/4/11 and remains neutral. Absolute price has been consolidating gains since 4/1/11. Support 36.24, 35.08, 35.03, 31.82, 31.58, 30.79, 30.51, 30.32, 29.77, and 27.67. Resistance 38.22, 39.02, and 39.97. Consumer Discretionary (XLY) Neutral, Market Weight. The Relative Strength Ratio (XLY/SPY) rose above 6-week highs on 4/20/11 and appears relatively bullish. Absolute price rose above 9-week highs on 4/20/11. Support 38.90, 38.46, 36.61, 36.13, 35.32, 35.02, 34.78, 33.94, 33.11, 32.66, 31.70, 29.80, 28.64, 28.21, and 26.62. Resistance 40.02, 40.13, and 40.70.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) ) has been consolidating gains since 4/5/11 and remains neutral. Absolute price has been consolidating gains since 4/6/11. Support 38.44, 38.06, 36.44, 34.20, 33.70, 32.36, 29.88, 29.43, and 27.67. Resistance 41.28, 43.04, 45.21, 45.21, and 46.54.
Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) rose above 3-month highs on 4/19/11 but remains neutral based on moving average relationships, with the 50-day SMA of the RS Ratio below the 200-day SMA. Absolute price remains bullish. Support 33.23, 32.57, 31.43, 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 34.71, 36.61, and 37.89.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) rose above 3-month highs on 4/18/11 but remains neutral, based on moving average relationships, with the 50-day SMA of the RS Ratio below the 200-day SMA. Absolute price rose above 12-year highs on 4/20/11 and remains bullish. Support 29.64, 28.71, 28.22, 28.04, 27.76, 27.63, 27.46, 26.34, 25.30, and 24.95. Resistance: 30.99.
Technology (XLK) Bearish, Under Weight. The Relative Strength Ratio (XLK/SPY) fell below 13-month lows on 4/5/11. The Ratio gave a clear bearish signal on 3/22/11 when the 50-day SMA of the RS Ratio crossed below the 200-day SMA. Absolute price of XLK fell below 14-week lows on 3/16/11 and remains neutral. Support 25.20, 24.87, 23.87, 23.74, 23.64, 23.56, 22.68, 22.53, 21.60, 20.01, and 19.51. Resistance 26.24, 26.66, 27.09, 27.43, 27.63, and 28.60.
Utilities (XLU) Neutral, Market Weight. The Relative Strength Ratio (XLU/SPY) rose above the highs of the previous 4 weeks and rose above is 50-day SMA on 4/15/11, turning neutral. Absolute price remains neutral. Support 31.20, 30.74, 30.53, 29.66, 27.91, 27.44, and 25.76. Resistance 32.26, 32.89, 33.00, 34.89, and 36.24.
Financial (XLF) Bearish, Under Weight. The Relative Strength Ratio (XLF/SPY) fell below 2-year lows on 4/20/11 and remains bearish. Absolute price fell below 3-week lows on 4/18/11 and remains neutral. Support 15.79, 15.39, 15.08, 14.36, 14.25, 14.20, 13.29, and 13.08. Resistance 16.75, 16.85, 17.20, and 17.87.
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Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) remains neutral, with the 50-day SMA below the 200-day SMA.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) remains neutral, with the 50-day SMA below the 200-day SMA.
NASDAQ Composite/S&P 500 Relative Strength Ratio has been consolidating gains since 1/18/11 and remains neutral.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows on 4/20/11, again reconfirming its preexisting bearish major trend.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) rose above all-time highs on 4/5/11, thereby reconfirming its preexisting bullish major trend.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above all-time highs on 4/5/11, thereby reconfirming its preexisting bullish major trend.
Crude Oil nearest futures contract price closed above the highs of the previous 6 trading days on 4/20/11, suggesting a change in the short-term trend from uncertain to up. Longer term trends remain bullish. Support 105.98, 105.31, 102.70, 97.02, 96.22, 95.14, 87.09, 83.85, 83.55, 80.28, 80.06, 79.84, 79.25, 78.86, 73.52, 72.63, 70.76, 70.35, 69.51, 68.59, 67.15, 65.05, and 64.24. Resistance 113.46, 114.05, 120.42, 130.0, and 147.27.
Gold nearest futures contract price rose above all-time highs on 4/20/11, again reconfirming its major uptrend. Support 1445.0, 1411.5, 1380.7, 1419.5, 1351.4, 1309.1, 1307.7, 1297.0, 1274.8, 1270.5, 1232.4, 1210.9, 1191.5, and 1155.6. Resistance: none.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) is bearish. It crossed below the 50-day SMA on 4/15/11, remains below the 200-day SMA, and the 50-day SMA remains below the 200-day SMA.
Silver nearest futures contract price rose above 31-year highs on 4/20/11, again reconfirming a bullish major trend. Support 39.70, 39.12, 37.08, 36.43, 33.565, 31.695, 31.61, 30.265, 29.635, 26.30, 24.98, and 22.84. Resistance: 50.35.
Silver/Gold Ratio rose above 27-year highs on 4/20/11, again reconfirming its preexisting bullish major trend.
Copper nearest futures contract price closed above the highs of the previous 4 trading days on 4/20/11, possibly reversing the short-term trend from down to up. Still, Copper appears to be in an intermediate-term consolidation since peaking at 4.6575 on 2/15/11. Strength in Copper suggests confidence in the economic outlook, while weakness suggests doubts. Support 4.212, 4.076, 3.9795, 3.6065, 3.3930, 3.1775, 2.9285, 2.8555, 2.8445, and 2.72. Resistance: 4.533, 4.554, 4.6495, and 4.6575.
U.S. Treasury Bond nearest futures contract price staged a narrow-range Inside Day on Wednesday 4/20/11, suggesting consolidation. The short-term uptrend was not challenged. On Tuesday 4/19/11, the Bond rose further above previous 3-week highs, and the Bond remains above a 4-week downtrend line, indicating a short-term uptrend, at least. Furthermore, the Bond could be building an intermediate-term bullish base since the low of 2/9/10. In its favor, nearly everyone has been talking bearish this year, so the Bond could be oversold. Support 119.15, 117.28, 117.04, 116.26, 115.15, 114.06, 113.04, and 112.15. Resistance 122.08, 123.22, 123.26, 128.00 129.14, 129.27, 132.26, 133.00, 135.12, 135.19, 136.31, 137.31, and 142.31.
Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) has been stuck in a neutral trading range most of the time since peaking on 11/4/10.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) rose further above 2-year highs on 4/8/11. The Ratio has been in a rising trend since making a low on 8/24/10. This rising Relative Strength Ratio reflects fixed-income investors’ preference for inflation-protected TIPs over the unprotected 7-10 Year U.S. Treasury Note ETF (IEF) since 8/24/10.
The U.S. dollar nearest futures contract price fell below the lows of the previous 16 months on 4/20/11, again reconfirming a long-term, major downtrend. Support 74.26 and 70.80. Resistance 76.055, 76.87, 77.675, 78.98, 79.34, 81.635, 81.935, 82.02, 83.64, 84.73, 85.36, 86.71, 88.80, 89.22, 89.71, and 92.53.
Advisory Service Sentiment: There were 57.3% Bulls versus 15.7% Bears as of 4/6/11, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear Ratio soared to 3.65, up from 2.23 the previous week. The Ratio rose its highest level in the 8 years since the 20-year high of 3.74 set on 6/18/03. Following that 2003 peak, the stock market turned sideways/choppy for 2 months and sentiment reverted toward the mean. The Ratio’s 20-year range is 0.41 to 3.74, the median is 1.56, and the mean is 1.63. According to Humphrey B. Neill, The Art of Contrary Thinking, when everybody thinks alike, everyone is likely to be wrong.
VIX Fear Index fell below its 3-year range on 4/20/11, hitting 14.30 intraday, and again confirming a preexisting trend toward bullish complacency. This follows a brief spike up to an intraday peak of 31.28 on 3/16/11. Fear was short-lived. 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 Dow Theory reconfirmed a Primary Tide Bull Market as of 4/4/11, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above closing price highs of the previous 2-years. The Dow Theory originally signaled the current Primary Tide Bull Market on 7/23/09, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above their closing price highs of the previous 6 months. While other Dow Theorists were fooled by the big downside Secondary Reaction in May and June 2010 and called a “Bear Market”, my interpretation of the Dow Theory has been steadily Bullish on the Primary Tide Trend every day since 7/23/09.
The Dow-Jones Transportation Average, the S&P 500 and other large cap indexes failed to close above closing price highs of the previous 2-years and, therefore, did not confirm the 2-year high for the Dow-Jones Industrials, casting doubt on the validity of the Industrials’ upside range breakout.
Volume remained at low levels as price rebounded from its low of 3/16/11, possibly reflecting trader hesitation to chase prices higher.
Financial stocks have been underperforming over the past 3 months, suggesting possible trouble in that key sector.
Many stock price patterns from the low of 3/16/11 resemble Bearish Rising Wedges, which are unsustainable countertrend rallies against the larger trends.
The 4/6/11 survey of Advisory Service Sentiment from Investors Intelligence shows bullish opinion at the upper extreme of its 20-year range, which is bearish according to The Art of Contrary Thinking. When the majority is already very bullish, we can assume that the majority is already fully invested in the market and there are relatively few potential buyers, so prices are likely to go down.
The short-term trend (which changes very frequently, every few days to every few weeks) had been up for 3 weeks from 3/16/11 to 4/6/11, driven by short covering, general expectations of rising corporate profits, and merger activity. This is typical late-cycle behavior. After two years of bull trend that has doubled stock prices from their 2009 lows, it is only prudent to focus on protecting your capital.
S&P 500 Composite (SPX, 1,330.36) rose 17.74 points or 1.35% on Wednesday 4/20/11. SPX closed above the highs of the previous 6 trading days, turning the short-term trend bullish. The intermediate-term trend still appears questionable.
S&P 500 Cash Index 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
1366.59, high of 6/17/2008
1344.07, high of 2/18/11
1339.46, high of 4/8/11
1332.66, high of 4/20/11
S&P 500 Cash Index Potential Support
1294.70, low of 4/18/11
1249.05, low of 3/16/11
1246.73, high of 12/13/10
1238.81, Fibonacci 78.6% of 1,576.09 high
1235.05, high of 12/7/10
1232.85, low of 12/16/10
1228.74, Fibonacci 61.8% of 2007-2009 range
1227.08, high of 11/5/10
1173.00, low of 11/16/10
1171.70, low of 10/27/10
1166.74, low of 10/20/10
1159.71, low of 10/19/10
1,151.41, low of 10/7/10
1,131.87, low of 10/4/10
1122.79, low of 9/23/2010
1114.63, low of 9/15/2010
1110.88, low of 9/10/2010
1091.15, low of 9/7/2010
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
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
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
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
One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
4.23% Semiconductor iS IGW, SOXX
4.07% Semiconductor SPDR, XSD
4.06% Germany Index, EWG
3.63% Sweden Index, EWD
3.45% South Korea Index, EWY
3.42% France Index, EWQ
3.11% EMU Europe Index, EZU
3.10% Austria Index, EWO
3.04% Oil Fund PowerShares, DBO
3.01% Taiwan Index, EWT
2.97% Australia Index, EWA
2.96% Oil, Crude, U.S. Oil Fund, USO
2.90% European VIPERs, VGK
2.85% Switzerland Index, EWL
2.81% Networking, IGN
2.78% Netherlands Index, EWN
2.72% Europe 350 S&P Index, IEV
2.61% Silver Trust iS, SLV
2.59% Indonesia MV, IDX
2.57% Technology DJ US, IYW
2.56% China 25 iS, FXI
2.55% Energy Global, IXC
2.54% EAFE Index, EFA
2.54% Value EAFE MSCI, EFV
2.54% United Kingdom Index, EWU
2.51% Emerging VIPERs, VWO
2.48% South Africa Index, EZA
2.47% Info Tech VIPERs, VGT
2.44% Growth EAFE MSCI, EFG
2.43% Growth SmallCap R 2000, IWO
2.42% Global ex US ACWI iS, ACWX
2.37% Emerging Markets, EEM
2.36% Global 100, IOO
2.36% Energy SPDR, XLE
2.28% Pacific ex-Japan, EPP
2.28% Italy Index, EWI
2.26% Growth SmallCap VIPERs, VBK
2.26% Spain Index, EWP
2.25% QQQ Nasdaq 100 Trust, QQQ
2.24% India PS, PIN
2.23% India Earnings WTree, EPI
2.18% Energy DJ, IYE
2.17% Energy VIPERs, VDE
2.12% Small Cap EAFE MSCI iS, SCZ
2.11% Technology SPDR, XLK
2.09% Growth MidCap 400 B, IJK
2.07% Growth BARRA Small Cap 600, IJT
2.05% SmallCap Russell 2000, IWM
2.04% Russia MV, RSX
1.98% Small Cap VIPERs, VB
1.96% Energy & Nat Res iS GS, IGE
1.96% SmallCap S&P 600, IJR
1.96% Biotech SPDR, XBI
1.95% Growth MidCap Russell, IWP
1.94% Pacific VIPERs, VPL
1.92% Metals & Mining SPDR, XME
1.91% Emerging 50 BLDRS, ADRE
1.90% MidCap S&P 400 iS, IJH
1.83% WilderHill Clean Energy PS, PBW
1.81% Brazil Index, EWZ
1.81% MidCap S&P 400 SPDRs, MDY
1.80% Microcap Russell, IWC
1.80% Growth 1000 Russell, IWF
1.80% Consumer Discretionary SPDR, XLY
1.75% Value SmallCap S&P 600 B, IJS
1.71% MidCap Russell, IWR
1.69% Water Resources, PHO
1.68% Value SmallCap Russell 2000, IWN
1.66% Growth S&P 500/BARRA, IVW
1.65% Value SmallCap VIPERS, VBR
1.65% Basic Materials DJ US, IYM
1.64% Capital Markets KWB ST, KCE
1.63% Industrial SPDR, XLI
1.62% Growth VIPERs, VUG
1.59% DIAMONDS (DJIA), DIA
1.58% Commodity Tracking, DBC
1.58% LargeCap Blend S&P=Weight R, RSP
1.57% Belgium Index, EWK
1.57% Silver Miners Global X, SIL
1.54% Dividend International, PID
1.50% Japan Index, EWJ
1.49% Value MidCap S&P 400 B, IJJ
1.48% Dividend Appreciation Vipers, VIG
1.46% LargeCap 1000 R, IWB
1.46% Blend Total Market VIPERs, VTI
1.44% S&P 500 iS LargeCap Blend, IVV
1.44% Mexico Index, EWW
1.43% Value MidCap Russell, IWS
1.43% LargeCap VIPERs, VV
1.43% LargeCap Blend Russell 3000, IWV
1.42% Canada Index, EWC
1.41% Latin Am 40, ILF
1.40% Chile MSCI iS, ECH
1.36% S&P 500 SPDRs LargeCap Blend, SPY
1.36% Singapore Index, EWS
1.34% Dividend SPDR, SDY
1.32% Materials SPDR, XLB
1.31% Telecom DJ US, IYZ
1.30% Dividend DJ Select, DVY
1.29% Utilities SPDR, XLU
1.28% LargeCap Blend S&P 100, OEF
1.24% Utilities VIPERs, VPU
1.23% Value LargeCap Dynamic PS, PWV
1.22% Dividend High Yield Equity PS, PEY
1.22% Thailand MSCI iS, THD
1.21% Value S&P 500 B, IVE
1.21% Frontier Markets Guggenheim , FRN
1.21% Value VIPERs, VTV
1.18% REIT Wilshire, RWR
1.17% REIT VIPERs, VNQ
1.16% Real Estate US DJ, IYR
1.13% Homebuilders SPDR, XHB
1.12% Realty Cohen & Steers, ICF
1.07% Value 1000 Russell, IWD
1.07% Turkey MSCI iS, TUR
1.02% Malaysia Index, EWM
0.98% Health Care SPDR, XLV
0.97% China LargeCap Growth G D H USX PS, PGJ
0.86% Bond Ex-US Treas, BWX
0.52% Consumer Staples SPDR, XLP
0.43% Transportation Av DJ, IYT
0.41% Financial DJ US, IYF
0.39% Financials VIPERs, VFH
0.39% Gold Shares S.T., GLD
0.38% Bond, High-Yield Corporate, HYG
0.36% Hong Kong Index, EWH
0.33% Financial Preferred, PGF
0.29% Bond EmrgMkt JPM iS, EMB
0.28% Preferred Stock iS, PFF
0.27% Bond, High-Yield Junk, JNK
0.25% Financial SPDR, XLF
0.05% Bond Muni ATM-Free S&P iS, MUB
0.05% Bond, Corp, LQD
0.03% Agriculture DB PS, DBA
-0.01% Bond Treasury Short-Term iS, SHV
-0.01% Bond, 1-3 Year Treasury, SHY
-0.09% Financial Services DJ, IYG
-0.14% Bond, Aggregate, AGG
-0.34% Bond, TIPS, TIP
-0.39% Bond, 10 Year Treasury, IEF
-0.64% Bond, 20+ Years Treasury, TLT
