Crude Oil, United States Oil ETF (USO) rose above its highs of the previous 6 weeks.
Gold, SPDR Gold Shares ETF (GLD) rose above the highs of the previous 11 trading days and remains in bullish position above its 50-day and 200-day SMAs.
U.S. dollar ETF (UUP) fell below the lows of the previous 4 trading days. UUP rose above the highs of the previous 3 weeks on 12/16/12 intraday but reversed to close lower, which looked like a sign of exhaustion.
The Dow-Jones Industrial and Transportation Averages diverged after 2/3/12, as Industrials struggled higher but Transports failed to confirm.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose from 12/29/12 to 2/16/12 but turned down in recent days.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) remains neutral but appears to be losing strength in recent weeks.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) remains neutral but appears to be losing strength in recent weeks.
The S&P 500 Composite (SPX: 1,362.21) rose above its highs of the previous 9 months on 2/21/12.
Popular Price Momentum indicators, such as RSI(14) and MACD(12/26/9), are not making higher highs over the past 7 trading days, thereby warning of bearish divergence.
SPX remains within a potential Bearish Rising Wedge chart pattern, which has forming since December. In addition, that pattern is contained within a larger potential Bearish Rising Wedge chart pattern beginning at the October low. Break downs below the lower boundary lines would offer technical warning of a possible fast return to the lows.
NYSE volume continues to languish at a low levels, suggesting weak demand for stocks.
My Short-Term Price Momentum Oscillator based on SPX is losing altitude again. It rose above its highs of the previous 5 trading days last Thursday but remained well below its best levels of recent months. In recent weeks, the slowness of the grind higher indicated that the stock market already had lost most of its bullish momentum. We will be watching closely to see if rally attempts can generate more convincing bullish momentum.
Expect resistance near the 2011 highs, around SPX 1370.58 set on 5/2/2011, allowing plus or minus a few percentage points for Gann’s “lost motion”.
Up big from recent lows, and with very little room above before resistance, Potential Reward relative to potential Risk appears unattractive.
The latest sentiment data, detailed below, indicates alarming degrees of optimism and bullish complacency. When the majority of investors has been bullish for some time, we can assume that they 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.
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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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Stock Market Indicators
The Dow Theory gave a bullish signal on 12/23/10, when both Dow-Jones Industrial and Transportation Averages closed above their closing price highs of the previous 5 months. These two Averages diverged after 2/3/12, however, as Industrials struggled higher while Transports failed to confirm.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose from 12/29/12 to 2/16/12 but turned down in recent days. The Ratio remains above its 50-day and 200-day SMAs. Absolute price of the NASDAQ Composite gave a bullish signal on 2/3/12 when it rose above the highs of the previous 11 years and the 50-day SMA rose above the 200-day SMA.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) remains neutral but appears to be losing strength in recent weeks. BKF/SPY remains bearishly below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 1/13/11.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) remains neutral but appears to be losing strength in recent weeks. EEM/SPY remains bearishly below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 2/3/11.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) whipsawed back above its 50-day SMA on 2/1/12, turning technically neutral again. EFA/SPY fell below the lows of the previous 7 years on 1/6/12, reconfirming the preexisting major bearish trend. EFA/SPY remains below its falling 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 1/14/11.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) remains neutral but appears to be gaining strength in recent weeks. OEX/SPX remains above its 200-day SMA, and the 50-day SMA has remained bullishly 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. 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) remains neutral but appears to be losing strength in recent weeks. The 50-day SMA has remained below the 200-day SMA consistently every day since 8/11/11.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above the highs of the previous 6 months on 2/16/12, signaling a medium-term rally. The 50-day SMA has remained bearishly below the 200-day SMA consistently every day since 8/24/11.
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Sentiment for Contrary Thinking
The Commitment of Traders (COT) report shows 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 43% Bulls and 27% Bears, according to the AAII weekly survey reported on 2/16/12. Net bullish opinion is as high as it was last July, near the market top.
Investors Intelligence Sentiment: There were 54.8% Bulls versus 25.8% Bears, according to the Investors Intelligence weekly survey of stock market newsletter advisors reported on 2/15/11. This is the highest level of bullish sentiment since the stock market top in May, 2011.
Investment Newsletters are 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 66% Bulls this month, in the same 64% to 69% range of Bulls from February to July 2011 at the highs.
Short Selling ETFs are 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 last July, according to Mark Hulbert at MarketWatch. Insiders sold 577 shares for each 100 shares they bought, according to Argus Research Vickers Weekly Insider Report. That is a big change in insider behavior from 81 shares sold for each 100 shares bought in November. 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.
NYSE short interest collapsed from a high peak of 16.1 billion shares sold short last September, which coincided with the stock market lows, to 12.5 billion shares sold short in February. This is the lowest level since last April, at the market top. Short interest represents a pool of potential demand for stocks, since short sellers eventually must buy back the shares they borrowed. Currently, that pool of demand is depleted.
VIX Fear Index broke down below the lows of the previous 6 months on 2/3/12, hitting 16.10 intraday. That was down from a peak of 48.00 on 8/8/11. Such a large drop in VIX indicated a shift away from fear and toward bullish complacency, which may be bearish. 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
1406.32, high of 5/29/2008
1381.50, Fibonacci 78.6% of 2007-2009 range
1376.55, Fibonacci 100.0% projection 10/11 range
1370.58, high of 5/2/11
1367.76, high of 2/21/2012
The S&P 500 Composite Potential Support
1337.35, low of 210/2012
1300.49, low of 1/30/2012
1277.58, low of 1/13/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1257.63, 200-day SMA
1257.46, low of 12/30/11
1257.58, Fibonacci 61.8% of 2011 range
1255.22, high of 12/22/2011
1248.64, low of 12/29/2011
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 11/3/11
1231.04, high of 12/16/11
1226.64, low of 11/9/2011
1222.68, Fibonacci 50% of 2011 range
1224.57, high of 12/19/11
1215.20, low of 12/16/11
1209.47, low of 12/14/2011
1209.43, low of 11/17/2011
1204.49, Fibonacci 23.6% of 2009-11 range
1202.37, low of 12/19/11
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
1039.70, low of 8/27/10
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) has drifted moderately lower into the neutral zone. TLT fell below its 50-day SMA on 2/1/12. TLT remains above its 200-day SMA. The 50-day SMA has remained above the 200-day SMA every day since 6/24/11, suggesting a persistently bullish major trend for the longer term. Support 114.62, 109.82, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 118.28, 120.91, 121.64, 121.76, 124.02 and 125.03.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) whipsawed back below its 50-day SMA on 2/16/12, turning technically neutral again. IEF remains above its 200-day SMA, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 6/21/11, suggesting a persistently bullish major trend. Support 104.37, 104.00, 103.29, 102.32, 101.36, 101.11, 99.79, and 97.66. Resistance 105.68, 106.49 and 106.66.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) remains neutral, above its 50-day SMA but below its 200-day SMA. The 50-day SMA has remained bearishly below the 200-day SMA every day since 6/20/11.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) remains neutral. The 50-day SMA has remained bearishly below the 200-day SMA every day since 7/15/11.
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Tangible Assets, Commodities
U.S. dollar ETF (UUP) fell below the lows of the previous 4 trading days on 2/21/12. UUP rose above the highs of the previous 3 weeks on 12/16/12 intraday but reversed to close lower, which looked like a sign of exhaustion. UUP remains neutral below its 50-day SMA but above its 200-day SMA. The 50-day SMA has remained above the 200-day SMA every day since 10/26/11. Support 21.84, 21.58, 21.07, and 20.84. Resistance 22.30, 22.41, 22.46, 22.85, 23.52, 25.84, 27.19, 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) firmed up in recent days but remains neutral. DBA has been whipsawing up and down through its 50-day SMA for most of 2012. DBA remains below its 200-day SMA, and the 50-day SMA has remained below the 200-day SMA every day since 8/8/11.
Crude Oil, United States Oil ETF (USO) rose above its highs of the previous 9 months on 2/21/12. USO rose above its 50-day SMA and rose above a 6-week downtrend line on 2/13/12, suggesting a bullish trend. USO remains above its 200-day SMA, and the 50-day SMA remains above the 200-day SMA. Support 39.96, 38.51, 36.67, 35.73, 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 40.74 and 45.60.
Gold, SPDR Gold Shares ETF (GLD) rose above the highs of the previous 11 trading days on 2/21/12 and remains in bullish position above its 50-day and 200-day SMAs. Longer term, the 50-day SMA has remained bullishly above the 200-day SMA every day since 2/11/09. Support: 166.17, 160.29, 159.68, 158.01, 156.19, 154.55, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 171.23, 175.46, 177.40, and 185.85.
Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) fell below the lows of the previous 3 years on 2/15/12, thereby reconfirming a bearish major trend for the long term. GDX/GLD remains bearishly below its 50-day and 200-day SMAs. Longer term, the 50-day SMA has remained bearishly below the 200-day SMA every day since 2/22/11.
Silver, iShares Silver Trust ETF (SLV) rebounded to the upper end of its recent trading range on 2/21/12. SLV may have completed a normal mild pullback from a minor high of 33.47 on 2/9/12 to a minor low of 31.82 on 2/16/12. SLV remains above its 50-day SMA but below its falling 200-day SMA, and the 50-day SMA remains below the 200-day SMA. Support 31.82, 30.67, 28.63, 27.83, 25.65, and 24.44. Resistance: 33.48, 34.44, 34.51, 40.23, 41.49, 42.30, 42.78, 44.71 and 48.35.
Silver/Gold ETFs Ratio (SLV/GLD) remains neutral, above its 50-day SMA but below its falling 200-day SMA. Longer term, SLV/GLD fell below the lows of the previous 14 months on 12/28/11, and the 50-day SMA has remained below the 200-day SMA every day since 8/30/11.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) rose to approach its 200-day SMA on 2/21/12 but fell back down below it by the close. JJC fell below the lows of the previous 4 weeks on 12/17/12. JJC price is below its 200-day SMA, and JJC’s 50-day SMA has remained bearishly below the 200-day SMA every day since 8/8/11.
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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
0.66% , EIS , Israel MSCI iS, EIS
5.95% , WYNN , Wynn Resorts L
5.91% , MTG , MGIC INVESTMENT
0.54% , IYM , Basic Materials DJ US, IYM
1.15% , GRMN , GARMIN LTD
3.41% , SLV , Silver Trust iS, SLV
1.30% , EWC , Canada Index, EWC
3.52% , NEM , NEWMONT MINING
0.38% , IYW , Technology DJ US, IYW
0.68% , PIN , India PS, PIN
2.19% , GLD , Gold Shares S.T., GLD
0.69% , PST , 200% Short Bond 7-10 Yr T, PST
1.81% , SIL , Silver Miners Global X, SIL
0.58% , IXC , Energy Global, IXC
0.49% , PIC , Insurance, PIC
1.73% , HUM , HUMANA
2.56% , AA , ALCOA
1.17% , UNM , UNUMPROVIDENT
3.47% , GNW , GENWORTH FINANCIAL
1.61% , PH , PARKER HANNIFIN
2.13% , TBT , 200% Short US T Bond, TBT
0.70% , PGR , PROGRESSIVE OHIO
1.60% , ETFC , E*TRADE FINANCIAL
2.09% , USO , Oil, Crude, U.S. Oil Fund, USO
1.41% , STI , SUNTRUST BANKS
0.92% , PSTL , Steel Global PS ETF, PSTL
1.18% , STLD , Steel Dynamics, STLD
1.57% , DBC , Commodity Tracking, DBC
1.81% , XME , Metals & Mining SPDR, XME
2.01% , NE , NOBLE
2.04% , HAL , HALLIBURTON
2.14% , IAU , Gold COMEX iS, IAU
1.02% , NUE , NUCOR
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-8.35% , CIEN.O , CIENA
-0.77% , IYH , Healthcare DJ, IYH
-1.50% , PSI , Semiconductors, PSI
-3.65% , NFLX , Netflix, NFLX
-7.87% , RSH , RADIOSHACK
-3.86% , WMT , WAL MART STORES
-0.65% , IGV , Software, IGV
-0.39% , MTK , Technology MS sT, MTK
-1.73% , ICF , Realty Cohen & Steers, ICF
-3.91% , KLAC , KLA TENCOR
-0.36% , PUI , Utilities, PUI
-2.62% , APC , ANADARKO PETRO
-3.57% , HGSI , Human Genome Sciences Inc
-3.11% , RYAAY , Ryanair Holdings plc
-3.33% , LRCX , LAM RESEARCH CORP
-2.76% , RIG , TRANSOCEAN
-0.87% , JKI , Value MidCap iS M, JKI
-3.55% , LEN , Lennar Corp. (LEN)
-0.78% , PMR , Retail, PMR
-3.00% , DV , DeVry, Inc.
-2.04% , CSX , CSX
-3.59% , PHM , PULTE HOMES
-0.40% , PIV , Value Line Timeliness MidCap Gr, PIV
-0.89% , ADRE , Emerging 50 BLDRS, ADRE
-3.23% , NVLS , NOVELLUS SYS
-2.12% , NBR , NABORS
-0.57% , EWU , United Kingdom Index, EWU
-3.36% , CSC , COMPUTER SCIENCE
-2.72% , DHI , D.R. HORTON, DHI
-1.28% , ZEUS , Olympic Steel, ZEUS
-0.80% , CPWR , COMPUWARE
-1.56% , VNQ , REIT VIPERs, VNQ
-2.06% , ADSK , AUTODESK
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
3.41% Silver Trust iS, SLV
2.19% Gold Shares S.T., GLD
2.15% Oil Fund PowerShares, DBO
2.09% Oil, Crude, U.S. Oil Fund, USO
1.81% Metals & Mining SPDR, XME
1.57% Commodity Tracking, DBC
1.42% Australia Index, EWA
1.30% Canada Index, EWC
0.97% Pacific ex-Japan, EPP
0.96% Energy & Nat Res iS GS, IGE
0.90% Sweden Index, EWD
0.87% Thailand MSCI iS, THD
0.79% India Earnings WTree, EPI
0.79% Germany Index, EWG
0.70% EMU Europe Index, EZU
0.68% Energy SPDR, XLE
0.68% India PS, PIN
0.66% Agriculture DB PS, DBA
0.61% Energy VIPERs, VDE
0.60% Spain Index, EWP
0.60% France Index, EWQ
0.59% Italy Index, EWI
0.59% Materials SPDR, XLB
0.58% Energy Global, IXC
0.54% Basic Materials DJ US, IYM
0.51% Energy DJ, IYE
0.47% Singapore Index, EWS
0.46% Bond EmrgMkt JPM iS, EMB
0.43% Netherlands Index, EWN
0.42% Technology SPDR, XLK
0.38% Technology DJ US, IYW
0.38% Bond, High-Yield Corporate, HYG
0.35% Industrial SPDR, XLI
0.33% Bond, High-Yield Junk, JNK
0.32% WilderHill Clean Energy PS, PBW
0.28% QQQ Nasdaq 100 Trust, QQQ
0.27% Bond Ex-US Treas, BWX
0.25% Switzerland Index, EWL
0.24% LargeCap Blend S&P 100, OEF
0.24% Info Tech VIPERs, VGT
0.24% Austria Index, EWO
0.21% Bond Muni ATM-Free S&P iS, MUB
0.21% Malaysia Index, EWM
0.17% Turkey MSCI iS, TUR
0.17% Global ex US ACWI iS, ACWX
0.17% Value EAFE MSCI, EFV
0.14% Growth S&P 500/BARRA, IVW
0.13% Europe 350 S&P Index, IEV
0.13% South Africa Index, EZA
0.13% Global 100, IOO
0.10% Value LargeCap Dynamic PS, PWV
0.09% Growth 1000 Russell, IWF
0.09% DIAMONDS (DJIA), DIA
0.09% Belgium Index, EWK
0.07% S&P 500 iS LargeCap Blend, IVV
0.05% Growth EAFE MSCI, EFG
0.04% S&P 500 SPDRs LargeCap Blend, SPY
0.04% Financial Services DJ, IYG
0.03% LargeCap 1000 R, IWB
0.03% LargeCap VIPERs, VV
0.02% EAFE Index, EFA
0.02% Value S&P 500 B, IVE
0.00% Bond Treasury Short-Term iS, SHV
0.00% Dividend High Yield Equity PS, PEY
0.00% Growth VIPERs, VUG
0.00% Hong Kong Index, EWH
0.00% Pacific VIPERs, VPL
-0.01% LargeCap Blend Russell 3000, IWV
-0.02% Value VIPERs, VTV
-0.02% European VIPERs, VGK
-0.02% Bond, 1-3 Year Treasury, SHY
-0.03% Preferred Stock iS, PFF
-0.04% Blend Total Market VIPERs, VTI
-0.04% Telecom DJ US, IYZ
-0.06% Bond, TIPS, TIP
-0.06% Dividend International, PID
-0.07% Value 1000 Russell, IWD
-0.09% Dividend Appreciation Vipers, VIG
-0.10% Japan Index, EWJ
-0.10% Financial SPDR, XLF
-0.11% Bear, Short S&P 500, SH
-0.11% Financial Preferred, PGF
-0.14% Brazil Index, EWZ
-0.14% Dividend DJ Select, DVY
-0.15% Small Cap EAFE MSCI iS, SCZ
-0.15% Bond, Aggregate, AGG
-0.15% Water Resources, PHO
-0.16% Chile MSCI iS, ECH
-0.16% Bond, Corp, LQD
-0.20% Financial DJ US, IYF
-0.24% Financials VIPERs, VFH
-0.27% Dividend SPDR, SDY
-0.28% Capital Markets KWB ST, KCE
-0.29% LargeCap Blend S&P=Weight R, RSP
-0.29% Utilities VIPERs, VPU
-0.32% Value MidCap Russell, IWS
-0.33% Value MidCap S&P 400 B, IJJ
-0.35% Consumer Discretionary SPDR, XLY
-0.36% Bond, 10 Year Treasury, IEF
-0.37% Utilities SPDR, XLU
-0.40% Emerging VIPERs, VWO
-0.40% MidCap Russell, IWR
-0.40% Growth MidCap Russell, IWP
-0.41% Emerging Markets, EEM
-0.43% MidCap S&P 400 iS, IJH
-0.44% South Korea Index, EWY
-0.44% MidCap S&P 400 SPDRs, MDY
-0.47% Value SmallCap VIPERS, VBR
-0.49% Small Cap VIPERs, VB
-0.50% Russia MV, RSX
-0.51% Growth MidCap 400 B, IJK
-0.53% Frontier Markets Guggenheim , FRN
-0.57% Indonesia MV, IDX
-0.57% United Kingdom Index, EWU
-0.57% Consumer Staples SPDR, XLP
-0.58% Value SmallCap S&P 600 B, IJS
-0.59% Growth SmallCap R 2000, IWO
-0.59% SmallCap S&P 600, IJR
-0.60% Growth SmallCap VIPERs, VBK
-0.62% Latin Am 40, ILF
-0.65% Growth BARRA Small Cap 600, IJT
-0.66% Value SmallCap Russell 2000, IWN
-0.68% SmallCap Russell 2000, IWM
-0.68% Mexico Index, EWW
-0.69% Microcap Russell, IWC
-0.72% Health Care SPDR, XLV
-0.82% China 25 iS, FXI
-0.89% Emerging 50 BLDRS, ADRE
-0.94% Taiwan Index, EWT
-1.01% Networking, IGN
-1.11% Bond, 20+ Years Treasury, TLT
-1.23% Semiconductor SPDR, XSD
-1.24% Real Estate US DJ, IYR
-1.24% Homebuilders SPDR, XHB
-1.36% Semiconductor iS IGW, SOXX
-1.46% Transportation Av DJ, IYT
-1.56% REIT VIPERs, VNQ
-1.61% China LargeCap Growth G D H USX PS, PGJ
-1.62% REIT Wilshire, RWR
-1.73% Realty Cohen & Steers, ICF
-2.29% Biotech SPDR, XBI
