Highlights based on trading on Thursday, May 10, 2012:
The S&P 500 (SPX: 1,357.99) rose 3.41 points or 0.25% on Thursday.
NYSE trading volume fell 13%. Volume has been increasing when stock prices decline and decreasing when stock prices advance, suggesting that selling pressure is less than buying pressure.
Probabilities appear to favor further downside risk.
The Reward to Risk Ratio for the stock market remains unattractive.
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 13 weeks:
Hong Kong Index, EWH
Switzerland Index, EWL
Semiconductor iS IGW, SOXX
Materials SPDR, XLB
Capital Markets KWB ST, KCE
Basic Materials DJ US, IYM
Semiconductor SPDR, XSD
China LargeCap Growth G D H USX PS, PGJ
Networking, IGN
Silver Trust iS, SLV
WilderHill Clean Energy PS, PBW
After the close on Thursday, JPMorgan Chase disclosed trading losses of $2 billion. CEO Jamie Dimon blamed the losses on “egregious mistakes”, warned that things could “easily get worse”, and “just because we were stupid doesn’t mean everybody else was.” Not long ago, Dimon, who received a $23 million pay package last year, defended prudent bankers, such as himself, saying, “I am a little tired of the constant vilification… This is not a casino.”
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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 may have signaled a downside Secondary Reaction as early as 3/6/12, when both Industrials and Transports fell below their lows of the previous 4 weeks. The Averages gave an early 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 did not: the Transports failed to rise to a new closing price high, indicating a non-confirmation and bearish divergence.
NASDAQ Composite/S&P 500 Relative Strength Ratio fell below its 50-day SMA on 4/30/12, turning neutral again. Absolute price fell below its lows of the previous 3months on 5/8/12 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 5/9/12, 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 5/9/12, 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 5/9/12. 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. We were not fooled by the minor stabilization in April because the important trend remained bearish.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) remains systematically bullish above its 50-day and 200-day SMAs, and the 50-day SMA has remained 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) has been relatively weak for more than a year, since 4/5/11. IWM/SPY fell further below its lows of the previous 4 months on 4/10/12, reconfirming renewed downside momentum for the medium term. Systematically, IWM/SPY returned to bearish status again on 4/20/12 when the 50-day SMA crossed below the 200-day SMA.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) has been relatively weak for more than a year, since 4/5/11. Although MDY/SPY firmed moderately since 4/10/12, the larger trend remains corrective.
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Sentiment for Contrary Thinking
Investor sentiment data has indicated alarming degrees of optimism and bullish complacency for many weeks, as detailed below,. When the majority of investors has been bullish for some time, we can assume that 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.
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: 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 5/2/12, there were 20.4% Bears, the lowest level since 6/1/11.
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 last November, 2011. 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.
VIX Fear Index rose above its highs of the previous 2 months on 5/9/12, suggesting the beginning of skepticism. Previously, VIX broke down below the lows of the previous 4 years, hitting 13.66 intraday on 3/16/12, its lowest level since 6/20/07. VIX fell 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
1422.38, high of 4/2/2012
1415.32, high of 5/1/2012
1388.71, low of 5/3/2012
1386.13, 50-day SMA
1381.50, Fibonacci 78.6% of 2007-2009 range
The S&P 500 Composite Potential Support
1340.34, Fibonacci 23.6% R of 2011-12 range
1340.03, low of 3/6/2012
1337.35, low of 2/10/2012
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
1276.98, 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 109.69, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 119.14, 120.91, 121.64, 121.76, 124.02 and 125.03.
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 101.77, 101.36, 101.11, 99.79, and 97.66. Resistance 106.49 and 106.66.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) could stay longer in its neutral trading range of the past 5 months.
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 9 weeks on 5/9/12. Systematically, TIP/IEF remains neutral: below its 50-day SMA, above 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) rose above its highs of the previous 7 weeks on 5/9/12. UUP is systematically bullish: above its 50-day SMA, above its 200-day SMA, and with the 50-day SMA above the 200-day SMA. Support 21.74, 21.58, 21.07, and 20.84. Resistance 22.24, 22.47, 22.85, 23.52, 25.84, 27.19, 28.97.
CRB Commodity Price Index fell below its lows of the previous 7 months on 5/9/12. 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 17 months on 5/9/12, 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 4 months on 5/9/12. USO still looks bearish on the chart. Systematically, USO is 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 35.73, 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 40.29, 41.38, 42.30, and 45.60.
Gold, SPDR Gold Shares ETF (GLD) broke down below its lows of the previous 4 months and fell further below its 50-day and 200-day SMAs on 5/9/12. 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: 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 5/8/12, 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) broke down below its lows of the previous 4 months and fell further below its 50-day and 200-day SMAs on 5/9/12. 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 27.83, 25.65, and 24.44. Resistance: 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 5/10/12, 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 the lows of the previous 11 trading days on 5/9/12, 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
15.78% , DYN , DYNEGY
0.79% , IXG , Financials Global LargeCap Value, IXG
3.70% , CTL , CENTURYTEL
1.68% , RSX , Russia MV, RSX
1.89% , PNW , PINNACLE WEST
4.85% , NWSA , News Corporation, NWSA
2.57% , ADM , ARCHER DANIELS
1.58% , ABC , AMERISOURCEBERGN
1.78% , BSX , BOSTON SCIENT
1.08% , IDU , Utilities DJ, IDU
2.41% , CCE , COCA COLA ENTER
1.63% , HNZ , HJ HEINZ
2.11% , KMX , CarMax
1.25% , EWA , Australia Index, EWA
1.35% , HOLX , Hologic, Inc., HOLX
1.30% , MDP , MEREDITH
2.68% , NYT , NY TIMES STK A
1.32% , RAI , Reynolds American
1.00% , TUR , Turkey MSCI iS, TUR
1.04% , SCZ , Small Cap EAFE MSCI iS, SCZ
0.80% , ITF , Japan LargeCap Blend TOPIX 150, ITF
2.43% , CNP , CENTERPNT ENERGY
1.60% , SJM , J. M. Smucker
1.22% , XBI , Biotech SPDR, XBI
2.28% , IPG , INTERPUBLIC GRP
1.44% , BMC.O , BMC SOFTWARE
0.46% , EWO , Austria Index, EWO
0.60% , EFV , Value EAFE MSCI, EFV
0.59% , DGT , Global Titans, DGT
1.33% , PTEN , Patterson-UTI Energy Inc
0.47% , ADRD , Developed 100 BLDRS, ADRD
1.29% , PEP , PEPSICO
2.32% , FAST , Fastenal Company
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-5.51% , NTAP , NETWK APPLIANCE
-10.49% , CSCO , CISCO SYSTEMS
-5.15% , PMTC.O , PARAMETRIC
-2.54% , PCAR , PACCAR
-4.84% , EMC , EMC
-4.33% , KSS , KOHLS
-2.44% , APOL , APOLLO GROUP
-4.75% , CROX , CROCS Inc., CROX
-4.29% , CTXS , CITRIX SYSTEMS
-3.74% , JBL , JABIL CIRCUIT
-2.74% , ORCL , ORACLE
-3.85% , KWT , Solar Energy MV, KWT
-3.29% , AVP , AVON
-2.49% , PXQ , Networking, PXQ
-0.42% , PBW , WilderHill Clean Energy PS, PBW
-2.38% , IGN , Networking, IGN
-1.45% , THD , Thailand MSCI iS, THD
-0.88% , MTK , Technology MS sT, MTK
-3.21% , RHT , Red Hat Inc.
-4.18% , CHKP , Check Point Software Technologies Ltd
-1.07% , IYW , Technology DJ US, IYW
-0.92% , RIMM , RESEARCH IN MOTION LTD
-1.30% , HP , Helmerich & Payne HP
-1.20% , ININ , Interactive Intelligence ININ
-1.52% , TDC , Teradata Corporation, TDC
-1.17% , AMD , ADV MICRO DEV
-0.77% , DELL , DELL
-0.04% , ADRA , Asia 50 BLDRS, ADRA
-0.38% , PIC , Insurance, PIC
-0.53% , LOW , LOWES
-1.85% , ADBE , ADOBE SYS
-1.53% , RL , Polo Ralph Lauren
-3.62% , CVG , CONVERGYS
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.97% Spain Index, EWP
1.68% Russia MV, RSX
1.32% India PS, PIN
1.26% Italy Index, EWI
1.25% Australia Index, EWA
1.22% Biotech SPDR, XBI
1.11% South Africa Index, EZA
1.04% Small Cap EAFE MSCI iS, SCZ
1.00% Turkey MSCI iS, TUR
0.95% India Earnings WTree, EPI
0.94% Belgium Index, EWK
0.93% Utilities SPDR, XLU
0.92% Utilities VIPERs, VPU
0.86% Pacific ex-Japan, EPP
0.82% Energy Global, IXC
0.76% France Index, EWQ
0.75% EMU Europe Index, EZU
0.74% Global ex US ACWI iS, ACWX
0.71% Water Resources, PHO
0.71% Consumer Staples SPDR, XLP
0.71% Health Care SPDR, XLV
0.69% Malaysia Index, EWM
0.68% Dividend DJ Select, DVY
0.66% European VIPERs, VGK
0.65% Dividend High Yield Equity PS, PEY
0.62% Brazil Index, EWZ
0.61% Value VIPERs, VTV
0.60% Value EAFE MSCI, EFV
0.53% Value SmallCap Russell 2000, IWN
0.52% Pacific VIPERs, VPL
0.52% Europe 350 S&P Index, IEV
0.52% Financial DJ US, IYF
0.52% Energy VIPERs, VDE
0.52% Emerging VIPERs, VWO
0.51% Value SmallCap S&P 600 B, IJS
0.49% Energy DJ, IYE
0.48% Global 100, IOO
0.47% EAFE Index, EFA
0.46% Austria Index, EWO
0.46% Netherlands Index, EWN
0.45% SmallCap S&P 600, IJR
0.43% Energy SPDR, XLE
0.43% Japan Index, EWJ
0.43% Germany Index, EWG
0.42% Emerging Markets, EEM
0.40% Financial SPDR, XLF
0.40% Taiwan Index, EWT
0.39% Value 1000 Russell, IWD
0.38% SmallCap Russell 2000, IWM
0.38% Financial Services DJ, IYG
0.38% Canada Index, EWC
0.36% United Kingdom Index, EWU
0.35% Financials VIPERs, VFH
0.35% Microcap Russell, IWC
0.35% Latin Am 40, ILF
0.34% Value MidCap Russell, IWS
0.34% Consumer Discretionary SPDR, XLY
0.34% Value S&P 500 B, IVE
0.33% Value SmallCap VIPERS, VBR
0.32% Dividend SPDR, SDY
0.32% LargeCap Blend S&P 100, OEF
0.32% Singapore Index, EWS
0.31% Chile MSCI iS, ECH
0.30% Energy & Nat Res iS GS, IGE
0.29% Growth BARRA Small Cap 600, IJT
0.28% Small Cap VIPERs, VB
0.26% LargeCap VIPERs, VV
0.26% Dividend Appreciation Vipers, VIG
0.26% Blend Total Market VIPERs, VTI
0.25% Oil, Crude, U.S. Oil Fund, USO
0.24% MidCap Russell, IWR
0.24% S&P 500 iS LargeCap Blend, IVV
0.21% LargeCap Blend Russell 3000, IWV
0.21% S&P 500 SPDRs LargeCap Blend, SPY
0.20% Emerging 50 BLDRS, ADRE
0.20% Dividend International, PID
0.19% Gold Shares S.T., GLD
0.19% LargeCap 1000 R, IWB
0.18% Oil Fund PowerShares, DBO
0.16% Growth S&P 500/BARRA, IVW
0.15% Value LargeCap Dynamic PS, PWV
0.15% Growth MidCap 400 B, IJK
0.15% Value MidCap S&P 400 B, IJJ
0.14% Growth SmallCap R 2000, IWO
0.14% Industrial SPDR, XLI
0.11% Growth EAFE MSCI, EFG
0.11% Growth SmallCap VIPERs, VBK
0.10% Indonesia MV, IDX
0.09% MidCap S&P 400 iS, IJH
0.09% MidCap S&P 400 SPDRs, MDY
0.08% DIAMONDS (DJIA), DIA
0.08% REIT VIPERs, VNQ
0.07% Mexico Index, EWW
0.07% Bond Ex-US Treas, BWX
0.06% LargeCap Blend S&P=Weight R, RSP
0.06% Financial Preferred, PGF
0.05% Preferred Stock iS, PFF
0.05% Telecom DJ US, IYZ
0.04% Commodity Tracking, DBC
0.03% Bond EmrgMkt JPM iS, EMB
0.03% Realty Cohen & Steers, ICF
0.02% Bond Treasury Short-Term iS, SHV
0.02% South Korea Index, EWY
0.02% Growth MidCap Russell, IWP
0.02% Growth 1000 Russell, IWF
0.00% Bond, High-Yield Junk, JNK
0.00% Agriculture DB PS, DBA
-0.01% Bond, 1-3 Year Treasury, SHY
-0.01% REIT Wilshire, RWR
-0.02% Bond, TIPS, TIP
-0.07% Sweden Index, EWD
-0.09% Growth VIPERs, VUG
-0.09% Real Estate US DJ, IYR
-0.10% Frontier Markets Guggenheim , FRN
-0.10% Bond, Aggregate, AGG
-0.11% Bond, High-Yield Corporate, HYG
-0.13% Capital Markets KWB ST, KCE
-0.14% Bond, 10 Year Treasury, IEF
-0.16% Bond Muni ATM-Free S&P iS, MUB
-0.16% Bear, Short S&P 500, SH
-0.20% QQQ Nasdaq 100 Trust, QQQ
-0.21% Bond, Corp, LQD
-0.22% Metals & Mining SPDR, XME
-0.29% Bond, 20+ Years Treasury, TLT
-0.30% Switzerland Index, EWL
-0.31% Materials SPDR, XLB
-0.31% Basic Materials DJ US, IYM
-0.32% Transportation Av DJ, IYT
-0.33% China 25 iS, FXI
-0.37% Homebuilders SPDR, XHB
-0.37% Semiconductor iS IGW, SOXX
-0.42% WilderHill Clean Energy PS, PBW
-0.46% Silver Trust iS, SLV
-0.63% China LargeCap Growth G D H USX PS, PGJ
-0.74% Semiconductor SPDR, XSD
-0.76% Technology SPDR, XLK
-0.79% Info Tech VIPERs, VGT
-0.82% Hong Kong Index, EWH
-1.07% Technology DJ US, IYW
-1.45% Thailand MSCI iS, THD
-2.38% Networking, IGN
