The S&P 500 (SPX: 1,460.91) rose 0.41% on Wednesday, but other indexes lagged: NASDAQ Composite rose 0.10% and the Dow-Jones Industrial Average rose only 0.04%. The large-cap NASDAQ 100 fell 0.10%.
Materials, Energy, and Industrial stock sectors, which had been underperforming significantly, have played catch up over the past 5 trading days. These have been among the weakest stock sectors for many months.
The major stock price indexes already have recovered normal fractions of their previous losses since their peaks on 10/5/12, and some now appear to be within striking distance of those highs.
So it may seem that the bull is back from the edge of the cliff and heading for another run at the highs. But the rally that ended on 10/5/12 resulted in a lower high than the rally that ended on 9/14/12 (the day after the Fed’s QE3 generous gift to banks). Another failed rally attempt now might lead the bulls to question their assumptions.
On-Balance Volume and NYSE Cumulative Volume of Advancing Stocks minus Volume of Declining Stocks are lagging, demonstrating relative weakness and bearish divergence compared to price indexes. Clearly, volume has not been confirming the price up move for many months.
The technical condition of the stock market does not support the excessive optimism of the bullish majority of stock investors and traders. Fed and ECB plans to buy bonds in unlimited quantities (with fiat currencies printed out of thin air and backed by nothing but a theory and a hope) do not guarantee that stock prices will continue to rise, especially now that the news is out. Typically, action is followed by reaction, and so a downside correction seems overdue. Choosing safety over risk still appears to be the most reasonable approach for conservative traders and investors.
*For extensive coverage of major global markets with illustrative charts, take a free trial for my weekly report —
click here.
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Hedge funds and equity mutual funds both lost money last year, 2011, and some are down again this year as well.
Meanwhile, one money manager made gains for 6 consecutive quarters; see:
Robert W. Colby Asset Management, Inc. (click here).
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Sentiment for Contrary Thinking
Investor sentiment data recently indicated alarming degrees of optimism and bullish complacency as the stock price indexes rose above their 2012 market highs. Elevated levels of optimism are bearish because when the majority is extremely bullish, 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, as it did during the -10% April-June 2012 downside price correction for the stock market.
The CFTC’s Commitments of Traders report for stock indexes shows smart professionals selling heavily to dumb speculators. Large commercial hedging firms enjoy an enormous inside informational advantage over speculators, who are usually wrong at major market turning points, according to Steve Briese, bullishreview.com. The current maximum bearish reading indicates that a major top is brewing and next move should be down big, possibly to SPX 1074.77, the low of 10/4/2011.
Large speculators hold a record net-long position in futures and options contracts on the NASDAQ 100, according to the CFTC’s Commitment of Traders report. Large Speculators, which are mainly hedge funds, are trend-followers, and their aggregate position usually becomes extreme near market reversals.
SentimentTrader.com notes that 67% of the “dumb money” is bullish, compared to 29% of the “smart money”. At such readings in the past, the stock market suffered a 3% to 8% downside correction spread out over a few weeks.
Market Vane’s Bullish Consensus survey shows extreme optimism. The percentage of stock market bulls surged to 70%, the highest since June 2007.
AAII Sentiment shows that individual investors were recently extremely bullish. As of 8/23/12, there were 41.96% Bulls and 25.87% Bears. This was the most extreme optimism since 3/29/12, a few days before the SPX high close on 4/2/2012 and the beginning of a 10% downside correction.
Investors Intelligence Sentiment confirmed that stock market newsletter advisors were recently extremely bullish. As of 9/19/12, there were 54.2% Bulls and 24.5% Bears. That was the highest percentage of Bulls since 2/15/12 and the second highest since 54.9% Bulls on 5/4/11, just 2 days after the SPX peak for 2011 and the beginning of a 22% downside correction.
Hulbert Stock Newsletter Sentiment Index showed that the average recommended equity exposure among a subset of the shortest-term stock market timers jumped to 53.1% in August, up from previous peaks at 47.0% in July and 42.1% in May. “Watch out for a correction — or worse. The odds of a stock market correction are now quite elevated,” according to Mark Hulbert.
Corporate insiders are extremely bearish. Insiders sold 5.97 shares for each share bought in September–up from 1.6-to-1 in May 2012, up from a low of 1.04-to-1 in October 2011, and up from a long-term average of 2.25-to-1. For Nasdaq-listed stocks, insiders sold 6.17 shares for each share bought. This data is compiled by Vickers Weekly Insider Report, published by Argus Research. Reporting for MarketWatch.com, Mark Hulbert wrote, “To be sure, the stock market didn’t decline in September, notwithstanding the insiders’ selling. But, since historically the insiders have been more right than wrong, it seems risky to bet that the market will continue to escape the bearish implication of their behavior…. Note carefully that the insiders’ bearish behavior doesn’t necessarily mean the bull market is now over. However, to the extent the insiders turn out to be as right as they were on other recent occasions when their behavior was as lopsided on the sell side, we should be prepared for a notable market decline.” Separately, data provided by Bloomberg shows 40 sales for every buy by insiders of S&P 500 companies.
NYSE Short Interest fell by more than 884 million shares from June to August, a decline of 6%. This source of short-covering, potential demand for stocks has diminished.
The ICI reported $62.6 billion has been withdrawn from domestic equity mutual funds so far in 2012. This is another confirmation that supply is greater than demand for stocks.
VIX Fear Index remains near 5-year lows, suggesting bullish complacency. VIX fell to 13.30 intraday on 8/17/12, its lowest level in more than 5 years, since 6/20/07. VIX fell from an intraday peak of 27.73 on 6/4/12. This large drop suggests a shift from worried concern 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
1474.51, high of 9/14/2012
The S&P 500 Composite Potential Support
1440.24, high of 5/19/2008
1439.15, high of 9/12/2012
1431.77, 50-day SMA
1430.53, low of 9/26/2012
1425.53, low of 10/12/2012
1422.38, high of 4/2/2012
1418.71, high of 8/17/2012
1415.32, high of 5/1/2012
1396.56, low of 9/4/2012
1391.04, low of 8/6/2012
1389.07, Fibonacci 78.6% of April-June 2012 range
1388.71, low of 5/3/2012
1381.50, Fibonacci 78.6% of 2007-2009 range
1380.39, high of 7/19/2012
1374.81, high of 7/3/2012
1372.24, 200-day SMA
1370.58, high of 5/2/2011
1363.49, high of 6/19/2012
1362.93, Fibonacci 61.8% of April-June 2012 range
1357.38, low of 4/10/2012
1355.70, low of 7/2/2012
1344.56, Fibonacci 50% of April-June 2012 range
1340.34, Fibonacci 23.6% of 2011-12 range
1340.03, low of 3/6/2012
1335.52, high of 6/11/2012
1334.93, high of 5/31/2012
1329.24, low of 7/24/2012
1329.05, high of 6/7/2012
1328.49, high of 5/22/2012
1326.19, Fibonacci 38.2% of April-June 2012 range
1325.41, low of 7/12/2012
1306.62, low of 6/12/2012
1303.47, Fibonacci 23.6% of April-June 2012 range
1291.98, low of 5/18/2012
1289.59, Fibonacci 38.2% of 2011-12 range
1266.74, low of 6/4/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1257.58, Fibonacci 61.8% of 2011 range
1248.58, Fibonacci 50.0% 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
1228.74, Fibonacci 61.8% of 2007-2009 range
1226.64, low of 11/9/2011
1224.57, high of 12/19/2011
1215.20, low of 12/16/2011
1207.56, Fibonacci 61.8% of 2011-12 range
1202.37, low of 12/19/2011
1158.66, low of 11/25/2011
1121.44, Fibonacci 50% of 2007-2009 range
1074.77, low of 10/4/2011
1149.16, Fibonacci 78.6% R of 2011-12 range
1014.14, Fibonacci 38.2% of 2007-2009 range
1010.91, low of 7/1/2010
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
881.38, Fibonacci 23.6% of 2007-2009 range
869.32, low of 7/8/2009
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) whipsawed back down below its 50-day SMA on 10/16/12, thereby turning systematically neutral again. TLT whipsawed back below its 200-day SMA on 10/17/12. TLT’s 50-day SMA has remained above its 200-day SMA every day since 6/24/11. Support 120.92, 120.67, 118.05, 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: 125.09, 127.72, 130.69, and 132.22.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) whipsawed back down below its 50-day SMA on 10/16/12, thereby turning systematically neutral again. IEF has remained above its 200-day SMA since 4/5/12, and its 50-day SMA has remained above its 200-day SMA every day since 6/21/11. Support 107.23, 106.42, 105.84, 105.22, 104.77, 103.90, 102.51, 101.77, 101.36, 101.11, 99.79, and 97.66. Resistance: 108.70, 108.99, 109.32, and 109.89.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) fell below its 50-day SMA on 9/25/12, thereby turning systematically bearish again. JNK/LQD fell below its 200-day SMA on 9/20/12. JNK/LQD 50-day SMA has remained consistently below its 200-day SMA every day since 6/1/12.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) turned bullish on 10/10/12 when the TIP/IEF 50-day SMA rose above the 200-day SMA. TIP/IEF remains above both its 50-day SMA and 200-day SMA.
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Tangible Assets, Commodities
U.S. dollar ETF (UUP) 50-day SMA fell below its 200-day SMA on 10/2/12, thereby turning systematically bearish. UUP closed below its 50-day SMA on 8/3/12 and fell below its 200-day SMA on 8/31/12. UUP’s Support 21.57, 21.07, and 20.84. Resistance 21.96, 22.36, 22.45, 23.14, 23.52, 25.84, 27.19, 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) fell below its lows of the previous 3 months on 10/15/12. DBA turned systematically neutral on 9/17/12 when price crossed below its 50-day SMA. DBA remains above its 200-day SMA but could cross below in days ahead if DBA continues to decline like it has over the past 4 last weeks. DBA’s 50-day SMA remains well above its 200-day SMA.
Crude Oil, United States Oil ETF (USO) turned systematically bearish on 9/19/12, when price fell below its 50-day SMA. USO fell below its 200-day SMA on 9/17/12. USO’s 50-day SMA remains below its 200-day SMA. Support 32.52, 32.45, 31.40, 29.02, 26.28, and 22.74. Resistance 34.70, 37.17, 38.31, 40.29, 41.38, 42.30, and 45.60.
Gold, SPDR Gold Shares ETF (GLD) fell below its lows of the previous 4 weeks on 10/15/12, suggesting a minor correction. GLD turned systematically bullish on 9/20/12, when its 50-day SMA rose above its 200-day SMA. GLD price rose above its highs of the previous 7 months on 10/1/12, rose above its 200-day SMA on 8/22/12, and rose above its 50-day SMA on 8/3/12. Support: 166.30, 159.56, 154.83, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 174.07, 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 4 weeks on 10/12/12, suggesting a minor correction. GDX/GLD rose above its 50-day SMA on 8/16/12, thereby turning systematically neutral. GDX/GLD rose above its 200-day SMA on 9/13/12 . The GDX/GLD 50-day SMA has remained below its 200-day SMA every day since 2/22/11, although that 50-200 spread has been narrowing since 9/5/12, and the 50 is likely to cross above the 200 in days ahead.
Silver, iShares Silver Trust ETF (SLV) fell below its lows of the previous 5 weeks on 10/15/12, suggesting a minor correction. SLV turned systematically bullish on 10/1/12 when its price 50-day SMA crossed above the 200-day SMA. Support 31.46, 29.28, 26.87, 26.13, 25.34, 25.00, 24.44, 22.52, 20.73, and 19.44. Resistance: 33.23, 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 5 weeks on 10/15/12, suggesting a minor correction. SLV/GLD turned systematically bullish on 10/9/12 when its 50-day SMA crossed above the 200-day SMA. SLV/GLD crossed above its 50-day SMA on 8/16/12 and crossed above its 200-day SMA on 8/31/12.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) price fell below its lows of the previous 4 weeks on 10/15/12, suggesting a minor correction. JJC rose above its 50-day SMA on 8/21/12, thereby turning systematically neutral. Price rose above its 200-day SMA on 9/7/12. JJC remains systematically neutral because its 50-day SMA has remained below its 200-day SMA every day since 5/31/12. The 50-200 SMA spread has been narrowing since 8/8/12, however, and a crossover appears possible in weeks ahead if price holds up or rises. “Dr. Copper” is one of the better indicators of investor confidence (or lack thereof) in the global industrial economy.
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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 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
20.69% , MTG , MGIC INVESTMENT
1.30% , EZU , EMU Europe Index, EZU
8.69% , KBH , KB HOME
0.77% , EWN , Netherlands Index, EWN
1.61% , EZA , South Africa Index, EZA
5.83% , MTB , M&T BANK
3.35% , VMC , VULCAN MATERIALS
1.15% , IYF , Financial DJ US, IYF
5.31% , PHM , PULTE HOMES
4.16% , DHI , D.R. HORTON, DHI
3.16% , EWP , Spain Index, EWP
7.37% , SVU , SUPERVALU
5.17% , LPX , LOUISIANA PAC
1.72% , EWA , Australia Index, EWA
2.79% , WY , WEYERHAEUSER
0.90% , EWQ , France Index, EWQ
1.23% , IYM , Basic Materials DJ US, IYM
2.13% , XME , Metals & Mining SPDR, XME
1.29% , PST , 200% Short Bond 7-10 Yr T, PST
1.64% , EWO , Austria Index, EWO
5.52% , BK , BANK OF NEW YORK
1.34% , EPP , Pacific ex-Japan, EPP
2.20% , HAL , HALLIBURTON
2.08% , JNJ , JOHNSON&JOHNSON
2.99% , LM , LEGG MASON
2.17% , LEN , Lennar Corp. (LEN)
0.77% , EWG , Germany Index, EWG
1.82% , CL , COLGATE
2.59% , PGR , PROGRESSIVE OHIO
1.35% , NUE , NUCOR
3.47% , ETFC , E*TRADE FINANCIAL
1.82% , JWN , NORDSTROM
2.66% , WHR , WHIRLPOOL
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-22.15% , APOL , APOLLO GROUP
-13.22% , CHKP , Check Point Software Technologies Ltd
-5.71% , TXT , TEXTRON
-4.87% , STJ , ST JUDE MEDICAL
-4.28% , ABT , ABBOTT LABS
-5.71% , DGX , QUEST DIAG
-4.91% , IBM , IBM
-4.44% , DV , DeVry, Inc.
-4.48% , RHT , Red Hat Inc.
-3.34% , FDO , FAMILY DLR STRS
-2.97% , LH , LAB CRP OF AMER
-4.42% , SWK , Stanley Black & Decker
-5.24% , CTXS , CITRIX SYSTEMS
-2.41% , WPO , Washington Post
-2.03% , CSX , CSX
-2.05% , DOV , DOVER
-2.38% , CMA , COMERICA
-1.10% , RYAAY , Ryanair Holdings plc
-2.70% , EMC , EMC
-2.82% , IPG , INTERPUBLIC GRP
-1.01% , CTSH , Cognizant Technology Solutions
-1.20% , SYK , STRYKER
-0.94% , BIG , BIG LOTS
-1.48% , WAG , WALGREEN
-2.14% , CECO , CAREER EDUCATION CORP
-1.44% , TDC , Teradata Corporation, TDC
-0.26% , RWR , REIT Wilshire, RWR
-0.94% , MON , MONSANTO
-1.04% , LLTC , LINEAR TECH
-1.70% , OMC , OMNICOM
-1.81% , IP , INTL PAPER
-0.71% , BSX , BOSTON SCIENT
-0.81% , TLH , Bond 10-20 Year US Treas, TLH
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
3.16% Spain Index, EWP
2.13% Metals & Mining SPDR, XME
1.93% Homebuilders SPDR, XHB
1.93% Italy Index, EWI
1.87% Capital Markets KWB ST, KCE
1.72% Australia Index, EWA
1.64% Austria Index, EWO
1.61% South Africa Index, EZA
1.53% Biotech SPDR, XBI
1.50% Financial Services DJ, IYG
1.48% Russia MV, RSX
1.48% WilderHill Clean Energy PS, PBW
1.38% Energy Global, IXC
1.36% China 25 iS, FXI
1.34% Pacific ex-Japan, EPP
1.30% EMU Europe Index, EZU
1.27% Financial SPDR, XLF
1.26% Energy & Nat Res iS GS, IGE
1.26% Energy SPDR, XLE
1.25% Canada Index, EWC
1.23% Utilities VIPERs, VPU
1.23% Basic Materials DJ US, IYM
1.23% Utilities SPDR, XLU
1.22% Energy VIPERs, VDE
1.20% Energy DJ, IYE
1.16% Financials VIPERs, VFH
1.15% Financial DJ US, IYF
1.15% SmallCap Value Russell 2000 iS, IWN
1.13% Value EAFE MSCI, EFV
1.10% Global ex U.S. LargeCap Blend, ACWX
1.08% Value SmallCap VIPERS, VBR
1.07% Malaysia Index, EWM
1.06% MidCap Value S&P 400 iS, IJJ
1.03% Dividend High Yield Equity PS, PEY
1.03% Europe 350 S&P Index, IEV
1.02% SmallCap Value S&P 600 iS, IJS
0.99% Dividend U.S. DJ iS, DVY
0.97% Water Resources, PHO
0.93% Foreign LargeCap EAFE MSCI iS, EFA
0.93% Small Cap VIPERs, VB
0.93% LargeCap Value Russell 1000 iS, IWD
0.93% Pacific VIPERs, VPL
0.92% Dividend ex-U.S. DJ iS, IDV
0.91% LargeCap Value S&P 500 iS, IVE
0.91% European VIPERs, VGK
0.91% SmallCap Blend EAFE MSCI iS, SCZ
0.91% Dividend International, PID
0.90% SmallCap Blend S&P 600 iS, IJR
0.90% SmallCap Blend Russell 2000 iS, IWM
0.90% France Index, EWQ
0.87% Value VIPERs, VTV
0.83% Thailand MSCI iS, THD
0.81% Materials SPDR, XLB
0.81% SmallCap Growth S&P 600 iS, IJT
0.79% MidCap Blend S&P 400 iS, IJH
0.79% Emerging VIPERs, VWO
0.79% United Kingdom Index, EWU
0.79% Emerging Markets MSCI iS, EEM
0.78% Global LargeCap Blend MSCI iS, ACWI
0.77% Netherlands Index, EWN
0.77% Germany Index, EWG
0.74% Growth EAFE MSCI, EFG
0.74% MidCap S&P 400 SPDRs, MDY
0.72% South Korea Index, EWY
0.69% Switzerland Index, EWL
0.69% Belgium Index, EWK
0.69% Growth SmallCap VIPERs, VBK
0.69% Value MidCap Russell, IWS
0.67% Sweden Index, EWD
0.67% Singapore Index, EWS
0.64% Turkey MSCI iS, TUR
0.64% Transportation Av DJ, IYT
0.63% Telecom DJ US, IYZ
0.62% Brazil Index, EWZ
0.61% Industrial SPDR, XLI
0.61% Microcap Russell, IWC
0.60% Silver Trust iS, SLV
0.59% Global 100, IOO
0.59% Agriculture DB PS, DBA
0.57% Consumer Discretionary SPDR, XLY
0.55% LargeCap Blend S&P=Weight R, RSP
0.53% SmallCap Growth Russell 2000 iS, IWO
0.50% MidCap Growth S&P 400 iS, IJK
0.49% Dividend SPDR, SDY
0.49% Japan Index, EWJ
0.49% Frontier Markets Guggenheim , FRN
0.49% LargeCap Blend Russell 3000 iS, IWV
0.48% Mexico Index, EWW
0.47% Blend Total Market VIPERs, VTI
0.45% S&P 500 SPDRs LargeCap Blend, SPY
0.45% LargeCap VIPERs, VV
0.45% Value LargeCap Dynamic PS, PWV
0.45% LargeCap Blend Russell 1000 iS, IWB
0.45% MidCap Russell, IWR
0.43% Latin Am 40, ILF
0.43% Consumer Staples SPDR, XLP
0.40% LargeCap Blend S&P 500 iS, IVV
0.39% LargeCap Blend S&P 100, OEF
0.38% Hong Kong Index, EWH
0.38% Emerging 50 BLDRS, ADRE
0.35% Semiconductor SPDR, XSD
0.31% Bond Ex-US Treas, BWX
0.30% Bond, High-Yield Junk, JNK
0.27% Dividend Appreciation Vipers, VIG
0.24% Chile MSCI iS, ECH
0.23% Taiwan Index, EWT
0.23% Bond, High Yield Corp iBoxx iS, HYG
0.22% Growth MidCap Russell, IWP
0.22% India PS, PIN
0.21% China LargeCap Growth G D H USX PS, PGJ
0.17% Indonesia MV, IDX
0.16% India Earnings WTree, EPI
0.15% Real Estate US DJ iS, IYR
0.11% Financial Preferred, PGF
0.10% DIAMONDS (DJIA), DIA
0.08% LargeCap Growth S&P 500 iS, IVW
0.07% Preferred Stock iS, PFF
0.07% Gold Shares S.T., GLD
0.04% Commodity Tracking, DBC
0.01% Bond, Emerg Mkt JPM iS, EMB
0.00% Bond Treasury Short-Term iS, SHV
0.00% Oil Fund PowerShares, DBO
0.00% Health Care SPDR, XLV
-0.01% Growth VIPERs, VUG
-0.03% LargeCap Growth Russell 1000 iS, IWF
-0.05% Bond, 1-3 Year Treasury, SHY
-0.06% QQQ Nasdaq 100 Trust, QQQ
-0.10% Oil, Crude, U.S. Oil Fund, USO
-0.19% Semiconductor iS IGW, SOXX
-0.20% Bond, Long-Term Corp iBoxx iS, LQD
-0.25% Bond, Muni S&P ATM-Free iS, MUB
-0.26% REIT Wilshire, RWR
-0.27% REIT VIPERs, VNQ
-0.30% Bond, TIPS U.S. Treasury iS, TIP
-0.31% Bond, Intermediate US Aggregate iS, AGG
-0.34% Realty Cohen & Steers, ICF
-0.42% Bear, Short S&P 500, SH
-0.52% Technology SPDR, XLK
-0.56% Networking, IGN
-0.63% Bond, 10 Year Treasury, IEF
-0.72% Info Tech VIPERs, VGT
-0.84% Technology DJ US, IYW
-0.93% Bond, 20+ Years Treasury, TLT
