Energy stock sector ETF Relative Strength Ratio (XLE/SPY) whipsawed up above its 50-day SMA on 3/14/13, thereby turning systematically bullish again. Still, XLE has been lagging since 2/14/13.
NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY) fell below its lows of the previous 19 months on 3/14/13.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 6 months on 3/14/13, again confirming a medium-term downtrend.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) remains systematically bullish. Price rose to a new high on 3/14/13, confirming its preexisting uptrend.
U.S. major stock price indexes advanced again on Thursday, continuing “overbought” but unusually persistent uptrends. The S&P 500 (SPX: 1,563.23) finished up 0.56%, the Nasdaq Composite Index rose 0.43%, the Dow Jones Industrial Average gained 0.58%, and the Dow Jones Transportation Average jumped by 0.78%. Breadth was positive, with 2711 Advances and 1272 Declines. Volume on the NYSE rose 12% to a level 5% above its 200-day SMA.
Although most major stock price indexes remain in obvious uptrends, many daily price momentum oscillators have been diverging bearishly, under the surface, while price indexes rose to new highs. 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 70.06, peaked at 74.46 on 1/29/13. MACD(12,26,9), now at 15.81, peaked at 17.88 on 1/29/13. Bearishly diverging momentum is a problem because momentum is a leading indicator of price.
Investors Intelligence Sentiment confirms that stock market newsletter advisors are extremely bullish. The percentage of Bulls rose to 54.7% as of 2/6/13, while the percentage of Bears plunged to 18.8% as of 3/13/13. That was the fewest Bears since 5/11/11. Advisors were more bullish recently than they were at the stock market highs in September, 2012, just before a 9% downside correction into November, 2012.
VIX Fear Index fell to 11.05 on 3/14/13, its lowest level since 2007, the year of the major top before the bear market of 2008. VIX indicates no fear and may be telling us to be careful.
The Art of Contrary Thinking has been calling for questioning overwhelming bullish sentiment. Objective investor sentiment data clearly has 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).
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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: 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: 18.51, 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: 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: none.
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: 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: none.
Industrial (XLI) Neutral, Under Weight. The Relative Strength Ratio (XLI/SPY) whipsawed up above its 50-day SMA on 3/13/13, thereby turning systematically bullish again. Still, XLI has been lagging since 2/28/13. Absolute price 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: none.
Energy (XLE) Neutral, Under Weight. The Relative Strength Ratio (XLE/SPY) whipsawed up above its 50-day SMA on 3/14/13, thereby turning systematically bullish again. Still, 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: 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: 80.97, 83.27, and 91.42.
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 been mostly bullish. Support: 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.
Materials (XLB) Neutral, Under Weight. The Relative Strength Ratio (XLB/SPY) fell below 5-month’s lows on 2/25/13, after falling below its 50-day SMA on 2/5/13 and thereby turning systematically neutral. XLB absolute price peaked at 39.87 on 1/25/13 and remains below it. 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.
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: 37.12, 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.
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 3 months on 3/5/12 and is systematically bullish. Support: 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: 30.51, 31.22, 31.74, 32.00, 34.85, 36.40, and 39.07.
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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 3/14/13. QQQ/SPY turned systematically bearish on 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 5 months on 3/13/13, again confirming a medium-term 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. Price peaked at 42.29 on 2/1/13 and is systematically neutral.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 6 months on 3/14/13, again confirming a medium-term downtrend. EEM/SPY remains systematically neutral. Price peaked at 45.34 on 1/2/13 and is systematically neutral.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below the lows of the previous 4 months on 3/13/13, 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) fell below the lows of the previous 16 months on 3/13/13, again confirming a 6-month downtrend. OEF/SPY turned systematically bearish on 12/17/12, when the 50-day SMA fell below the 200-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 high on 3/14/13, confirming its preexisting uptrend.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) whipsawed back above its 50-day SMA on 3/7/13, thereby turning systematically bullish again. Price rose to a new high on 3/14/13, 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
The S&P 500 Composite Potential Support
1556.77, high of 3/12/2013
1552.87, high of 3/27/2000
1552.76, high of 10/31/2007
1548.24, low of 3/12/2013
1505.38, 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
1430.53, low of 9/26/2012
1426.76, low of 12/12/2012
1425.53, low of 10/12/2012
1425.48, Fibonacci 23.6% of June-Sept ’12 range
1424.41, Fibonacci 61.8% of Sept-Nov ’12 range
1423.73, high of 12/3/2012
1422.58, low of 12/21/2012
1422.38, high of 4/2/2012
1422.06, low of 10/22/2012
1421.12, high of 10/25/2012
1420.34, high of 12/7/2012
1422.60, 200-day SMA
1419.70, high of 11/29/2012
1418.71, high of 8/17/2012
1415.32, high of 5/1/2012
1409.16, high of 11/23/2012
1403.28, low of 10/26/12
1401.58, low of 12/28/12
1398.11, low of 12/31/2012
1397.68, low of 11/26/2012
1396.56, low of 9/4/2012
1395.14, Fibonacci 38.2% of June-Sept 2012 range
1391.04, low of 8/6/2012
1388.71, low of 5/3/2012
1385.43, low of 11/28/2012
1381.50, Fibonacci 78.6% of 2007-2009 range
1380.39, high of 7/19/2012
1374.81, high of 7/3/2012
1370.62, Fibonacci 50.0% of June-Sept 2012 range
1370.58, high of 5/2/2011
1363.49, high of 6/19/2012
1357.38, low of 4/10/2012
1355.70, low of 7/2/2012
1346.11, Fibonacci 61.8% of June-Sept 2012 range
1343.35, low of 11/16/2012
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
1325.41, low of 7/12/2012
1311.20, Fibonacci 78.6% of June-Sept 2012 range
1306.62, low of 6/12/2012
1291.98, low of 5/18/2012
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
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
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
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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Tangible Assets, Commodities
U.S. dollar ETF (UUP) price rose above its highs 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 22.38, 22.15, 21.53, 21.07, and 20.84. Resistance 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 fell to its lowest level in 10 weeks on 3/4/13, again confirming a downtrend for the medium term. Longer term, USO has been mostly bearish since peaking at 119.17 on 7/11/08. Support 32.16, 31.00, 29.02, 26.28, and 22.74. Resistance 33.75, 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. 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: 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. 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 2/28/13. SLV/GLD remains neutral below both its falling 50-day SMA and its falling 200-day SMA.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC)fell below its lows of the previous 3 months on 3/6/13, 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.
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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
1.80% , PXJ , Oil & Gas, PXJ
1.33% , EZU , EMU Europe Index, EZU
4.62% , NE , NOBLE
1.39% , IEV , Europe 350 S&P Index, IEV
2.68% , ININ , Interactive Intelligence ININ
0.62% , FPX , IPOs, First Tr IPOX-100, FPX
2.20% , CBS , CBS CORP.
1.23% , RYAAY , Ryanair Holdings plc
1.78% , WMB , WILLIAMS
2.59% , BHI , BAKER HUGHES
1.93% , NWL , NEWELL RUBBER
1.46% , VGK , European VIPERs, VGK
1.27% , TXT , TEXTRON
2.76% , HIG , HARTFORD FINL
1.16% , XRX , XEROX
2.00% , HMA , HEALTH MGMT STK A
0.79% , IGV , Software, IGV
1.76% , IBM , IBM
0.65% , XLF , Financial SPDR, XLF
1.49% , APC , ANADARKO PETRO
1.58% , WY , WEYERHAEUSER
0.65% , AEE , AMEREN
1.10% , EWC , Canada Index, EWC
1.35% , ZEUS , Olympic Steel, ZEUS
0.88% , ABC , AMERISOURCEBERGN
0.49% , FISV , FISERV
1.80% , ALTR , ALTERA
3.12% , MJN , Mead Johnson Nutrition
4.23% , PBI , PITNEY BOWES
2.44% , VIAB.O , VIACOM STK B
0.79% , MSFT , MICROSOFT
1.29% , IGT , INTL GAME TECH
1.49% , IYE , Energy DJ, IYE
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-8.21% , ETFC , E*TRADE FINANCIAL
-3.40% , AMZN , Amazoncom Inc
-4.53% , CLF , CLIFFS NATURAL RESOURCES, CLF
-1.05% , PPL , PPL
-1.68% , MZZ , Short 200% MidCap 400 PS, MZZ
-1.59% , ZMH , ZIMMER HLDGS
-0.11% , PGJ , China LargeCap Growth G D H USX PS, PGJ
-1.54% , SBUX , STARBUCKS
-0.86% , CHKP , Check Point Software Technologies Ltd
-1.60% , ESRX , EXPRESS SCRIPTS
-0.99% , AN , AUTONATION
-0.92% , CL , COLGATE
-3.77% , BBRY , BlackBerry (BBRY)
-0.19% , LVLT.K , LEVEL 3 COMMUNICATIONS
-0.84% , ECH , Chile MSCI iS, ECH
-0.55% , AES , AES
-0.72% , SCHW.K , CHARLES SCHWAB, SCHW.O
-1.51% , BIDU , Baidu, Inc., BIDU
-0.16% , EPP , Pacific ex-Japan, EPP
-0.47% , USB , US BANCORP
-0.72% , MRK , MERCK & CO
-0.42% , CMI , CUMMINS
-1.10% , X , US STEEL CORP
-0.65% , CAT , CATERPILLAR
-0.28% , RHT , Red Hat Inc.
-0.07% , ASH , ASHLAND
-0.30% , TLT , Bond, 20+ Years Treasury, TLT
-0.19% , HON , HONEYWELL INTL
-0.34% , S , SPRINT NEXTEL
-0.28% , AGN , ALLERGAN
-0.10% , INTU , INTUIT
-0.11% , ITW , ILLINOIS TOOL
-0.24% , NUE , NUCOR
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
1.93% United Kingdom Index, EWU
1.86% Italy Index, EWI
1.79% India PS, PIN
1.79% Spain Index, EWP
1.49% Energy DJ, IYE
1.47% Energy & Nat Res iS GS, IGE
1.46% European VIPERs, VGK
1.39% Europe 350 S&P Index, IEV
1.37% Energy VIPERs, VDE
1.37% Energy SPDR, XLE
1.36% India Earnings WTree, EPI
1.33% EMU Europe Index, EZU
1.30% Switzerland Index, EWL
1.25% Energy Global, IXC
1.25% SmallCap Blend EAFE MSCI iS, SCZ
1.19% Germany Index, EWG
1.19% SmallCap Value S&P 600 iS, IJS
1.18% Biotech SPDR, XBI
1.13% SmallCap Value Russell 2000 iS, IWN
1.12% China 25 iS, FXI
1.10% Canada Index, EWC
1.09% South Africa Index, EZA
1.08% SmallCap Blend S&P 600 iS, IJR
1.05% Global 100, IOO
1.03% Growth EAFE MSCI, EFG
1.00% SmallCap Blend Russell 2000 iS, IWM
1.00% France Index, EWQ
1.00% Value EAFE MSCI, EFV
0.99% Foreign LargeCap EAFE MSCI iS, EFA
0.97% Value SmallCap VIPERS, VBR
0.96% Netherlands Index, EWN
0.95% SmallCap Growth S&P 600 iS, IJT
0.93% Global ex U.S. LargeCap Blend, ACWX
0.93% Microcap Russell, IWC
0.92% Water Resources, PHO
0.91% Homebuilders SPDR, XHB
0.90% Growth SmallCap VIPERs, VBK
0.89% Small Cap VIPERs, VB
0.87% MidCap Value S&P 400 iS, IJJ
0.84% SmallCap Growth Russell 2000 iS, IWO
0.83% Austria Index, EWO
0.80% Semiconductor SPDR, XSD
0.79% Metals & Mining SPDR, XME
0.77% MidCap S&P 400 SPDRs, MDY
0.77% MidCap Blend S&P 400 iS, IJH
0.76% Transportation Av DJ, IYT
0.75% Dividend ex-U.S. DJ iS, IDV
0.74% Commodity Tracking, DBC
0.73% Technology DJ US, IYW
0.73% Info Tech VIPERs, VGT
0.73% Basic Materials DJ US, IYM
0.72% Dividend International, PID
0.71% Technology SPDR, XLK
0.71% Value MidCap Russell, IWS
0.70% Russia MV, RSX
0.70% Oil Fund PowerShares, DBO
0.69% Oil, Crude, U.S. Oil Fund, USO
0.69% Financial Services DJ, IYG
0.68% REIT Wilshire, RWR
0.67% LargeCap Value Russell 1000 iS, IWD
0.66% Telecom DJ US, IYZ
0.65% Financial SPDR, XLF
0.64% Thailand MSCI iS, THD
0.64% LargeCap Value S&P 500 iS, IVE
0.63% REIT VIPERs, VNQ
0.63% Financials VIPERs, VFH
0.62% Financial DJ US, IYF
0.62% MidCap Russell, IWR
0.62% MidCap Growth S&P 400 iS, IJK
0.61% Value VIPERs, VTV
0.60% Materials SPDR, XLB
0.60% DIAMONDS (DJIA), DIA
0.60% Dividend SPDR, SDY
0.59% Realty Cohen & Steers, ICF
0.58% LargeCap Blend S&P 100, OEF
0.58% LargeCap Blend Russell 3000 iS, IWV
0.57% LargeCap Blend S&P=Weight R, RSP
0.57% Japan Index, EWJ
0.56% LargeCap Blend Russell 1000 iS, IWB
0.56% LargeCap Blend S&P 500 iS, IVV
0.56% LargeCap VIPERs, VV
0.56% Blend Total Market VIPERs, VTI
0.55% Belgium Index, EWK
0.55% Global LargeCap Blend MSCI iS, ACWI
0.54% Real Estate US DJ iS, IYR
0.53% S&P 500 SPDRs LargeCap Blend, SPY
0.52% Semiconductor iS IGW, SOXX
0.52% Growth MidCap Russell, IWP
0.51% Singapore Index, EWS
0.51% Emerging VIPERs, VWO
0.48% Dividend High Yield Equity PS, PEY
0.48% Growth VIPERs, VUG
0.48% Industrial SPDR, XLI
0.47% Dividend Appreciation Vipers, VIG
0.47% LargeCap Growth Russell 1000 iS, IWF
0.45% LargeCap Growth S&P 500 iS, IVW
0.43% Dividend U.S. DJ iS, DVY
0.42% Emerging Markets MSCI iS, EEM
0.41% Value LargeCap Dynamic PS, PWV
0.38% Bond, High Yield Corp iBoxx iS, HYG
0.36% Sweden Index, EWD
0.34% Agriculture DB PS, DBA
0.34% Consumer Staples SPDR, XLP
0.34% QQQ Nasdaq 100 Trust, QQQ
0.33% Pacific VIPERs, VPL
0.32% Capital Markets KWB ST, KCE
0.30% Networking, IGN
0.26% Bond Ex-US Treas, BWX
0.22% WilderHill Clean Energy PS, PBW
0.21% Mexico Index, EWW
0.21% Utilities VIPERs, VPU
0.20% Utilities SPDR, XLU
0.20% Emerging 50 BLDRS, ADRE
0.17% Bond, TIPS U.S. Treasury iS, TIP
0.12% Preferred Stock iS, PFF
0.11% Consumer Discretionary SPDR, XLY
0.11% Bond, Intermediate US Aggregate iS, AGG
0.09% Health Care SPDR, XLV
0.07% Bond, High-Yield Junk, JNK
0.05% Financial Preferred, PGF
0.04% Bond, Long-Term Corp iBoxx iS, LQD
0.03% Bond, 10 Year Treasury, IEF
0.02% South Korea Index, EWY
0.01% Gold Shares S.T., GLD
0.00% Bond, 1-3 Year Treasury, SHY
0.00% Bond Treasury Short-Term iS, SHV
-0.03% Frontier Markets Guggenheim , FRN
-0.05% Hong Kong Index, EWH
-0.11% China LargeCap Growth G D H USX PS, PGJ
-0.13% Turkey MSCI iS, TUR
-0.14% Bond, Emerging Mkt JPM iS, EMB
-0.16% Pacific ex-Japan, EPP
-0.16% Latin Am 40, ILF
-0.22% Taiwan Index, EWT
-0.23% Bond, Muni S&P ATM-Free iS, MUB
-0.30% Bond, 20+ Years Treasury, TLT
-0.34% Malaysia Index, EWM
-0.37% Australia Index, EWA
-0.48% Brazil Index, EWZ
-0.50% Silver Trust iS, SLV
-0.55% Bear, Short S&P 500, SH
-0.84% Chile MSCI iS, ECH
-0.89% Indonesia MV, IDX
