Major stock price indexes firmed slightly on Monday, consolidating last week’s losses. Indexes closed below their 50-day simple moving averages on Friday 1/22/10, which some interpret as bearish for the short-term trend. Still, all indexes remained well above their rising 200-day simple moving averages, which is generally considered to be bullish for the intermediate-term trend.
The market appears to be working off excessively bullish sentiment registered earlier this month, a process that could last from a few days to a few weeks.
Some market indicators got oversold enough to support a moderate upside bounce. Given the damage to the trend sustained last week, however, a period of reaccumulation and testing of support would seem more likely than a quick return to a strongly uptrending market in the short term.
ISEE Call/Put Ratio fell to 0.88 on 1/25/10, down from 1.68 on 1/11/10, indicating a shift to pessimism from optimism. The ratio’s 6-year mean is 1.41, its median is 1.36, and its range is 0.51 to 3.16.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) fell to a 6-month low on 1/25/10 after falling below both 50- and 200-day simple moving averages on 1/15/10. The gold mining stocks have underperformed gold bullion since 9/17/09.
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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
8.11% , LBTYA , Liberty Global Inc. (LBTYA)
0.60% , PIC , Insurance, PIC
1.10% , FEU , Value LargeCap Euro STOXX 50 DJ, FEU
1.06% , IAH , Internet Architecture H, IAH
2.07% , GWW , WW GRAINGER
1.15% , PSI , Semiconductors, PSI
0.36% , JKK , Growth SmallCap iS M, JKK
1.64% , EFG , Growth EAFE MSCI, EFG
1.83% , VGK , European VIPERs, VGK
6.70% , CIEN.O , CIENA
0.85% , ITF , Japan LargeCap Blend TOPIX 150, ITF
2.56% , SLE , SARA LEE
1.72% , EZA , South Africa Index, EZA
2.38% , ASH , ASHLAND
2.49% , FMCN , Focus Media, FMCN
1.38% , HNZ , HJ HEINZ
0.62% , RSP , LargeCap Blend S&P=Weight R, RSP
0.73% , JKD , LargeCap Blend Core iS M, JKD
0.64% , ELG , Growth Large Cap, ELG
0.23% , IWP , Growth MidCap Russell, IWP
0.59% , IWW , Value LargeCap Russell 3000, IWW
1.44% , MCK , MCKESSON CORP
0.34% , JKF , Value LargeCap iS M, JKF
0.84% , PXJ , Oil & Gas, PXJ
1.14% , CR , CRANE
2.20% , AFL , AFLAC
1.69% , ABC , AMERISOURCEBERGN
1.56% , LMT , LOCKHEED MARTIN
1.43% , HSP , HOSPIRA
0.68% , TMW , Wilshire 5000 ST TM, TMW
2.15% , CEG , CONSTELL ENERGY
1.79% , AM , AMER GREETINGS STK A
1.22% , MKC , MCCORMICK
1.20% , DLTR , Dollar Tree Stores Inc
0.21% , IXJ , Healthcare Global, IXJ
0.28% , IWZ , Growth LargeCap Russell 3000, IWZ
0.55% , PHO , Water Resources, PHO
1.05% , LEG , LEGGETT & PLATT
0.61% , FISV , FISERV
1.59% , SHW , SHERWIN WILLIAMS
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-2.31% , DGX , QUEST DIAG
-1.97% , ETN , EATON
-1.81% , SEE , SEALED AIR
-0.22% , IEF , Bond, 10 Year Treasury, IEF
-2.58% , TDC , Teradata Corporation, TDC
-2.82% , LPX , LOUISIANA PAC
-2.33% , BHH , Internet B2B H, BHH
-2.82% , HUM , HUMANA
-0.66% , PEJ , Leisure & Entertainment, PEJ
-0.81% , FPL , FPL GROUP INC
-1.19% , DOV , DOVER
-4.49% , PWER , POWER ONE
-0.71% , KSU , Kansas City Southern, KSU
-2.62% , KEY , KEYCORP
-0.89% , PTV , PACTIV
-1.46% , MTG , MGIC INVESTMENT
-0.32% , MDP , MEREDITH
-1.55% , AIG , AMER INTL GROUP
-0.84% , CTB , COOPER TIRE
-3.08% , LUV , SOUTHWEST AIRLS
-0.94% , RHI , ROBERT HALF
-1.57% , AMGN , AMGEN
-0.54% , CVG , CONVERGYS
-1.01% , TLAB , TELLABS
-0.43% , PH , PARKER HANNIFIN
-1.36% , JNY , JONES APPAREL
-0.28% , PIV , Value Line Timeliness MidCap Gr, PIV
-2.37% , MCO , MOODYS CORP
-0.15% , IWO , Growth SmallCap R 2000, IWO
-0.12% , PBE , Biotech & Genome, PBE
-0.26% , HAL , HALLIBURTON
-0.26% , TIP , Bond, TIPS, TIP
-0.89% , TXT , TEXTRON
-0.85% , LOW , LOWES
-0.32% , WFMI , Whole Foods Market Inc
-0.21% , PZI , Micro Cap Zachs, PZI
-0.92% , AMZN , Amazoncom Inc
-0.31% , ERIC.O , LM Ericsson Telephone Company
-2.30% , ADM , ARCHER DANIELS
-0.93% , MAS , MASCO
9 major U.S. stock sectors ranked in order of long-term relative strength:
Health Care (XLV) Bullish, Overweight. The Relative Strength Ratio (XLV/SPY) rose above 6-month highs on 1/22/10. XLV/SPY remains above its rising 50- and 200-day simple moving averages. Absolute price of XLV traded above its highs of the previous 15 months on 1/20/10. Support 31.60, 31.07 and 30.88. Resistance 33.16, 33.37 and 33.74.
Consumer Discretionary (XLY) Bullish, Overweight. The Relative Strength Ratio (XLY/SPY) rose above 10-day highs on 1/22/10. XLY/SPY remains above its rising 50- and 200-day simple moving averages. Absolute price of XLY fell below 6-week lows on 1/25/10, however, and remains below its 50-day simple moving average. Support 28.73 and 28.29. Resistance 30.38, 30.54, 31.95 and 33.76.
Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) fell below the lows of the previous 7 weeks on 1/22/10, signaling a downside correction. XLK /SPY fell below its 50- day simple moving average but remains above its rising 200-day simple moving average. Absolute price of XLK fell below 8-week lows and broke down below its 50-day simple moving average but remains above its rising 200-day simple moving average. Support 21.46 and 20.46. Resistance 22.59, 22.87, and 23.05.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) and the absolute price both fell below the lows of the previous 8 days on 1/21/10. XLI/SPY remains above rising 50-day and 200-day simple moving averages. Support 27.67 and 27.46. Resistance 29.61, 30.56 and 32.00.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) ) plunged below the lows of the previous 10 weeks on 1/21/10, confirming a price correction. XLB/SPY fell below both 50- and 200-day simple moving averages. Absolute price of XLB also fell below the lows of the previous 10 weeks on 1/22/10. Support 31.00 and 28.95. Resistance 33.73 and 34.52.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) rose above the highs of the previous 5 weeks and above its 50-day simple moving average on 1/22/10. XLP/SPY remains below its falling 200-day simple moving average. Absolute price of XLP fell below the lows of the previous 5 weeks on 1/22/10. Support 25.96 and 25.77. Resistance 27.04, 27.18 and 29.29.
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) fell below the lows of the previous 3 weeks on 1/22/10. XLE/SPY fell below its 50-day simple moving average but remains above its rising 200-day simple moving average. Absolute price of XLE fell below the lows of the previous 5 weeks on 1/22/10. Support 55.88 and 54.17. Resistance 58.52 and 59.90.
Utilities (XLU) Neutral, Market Weight. The Relative Strength Ratio (XLU/SPY) may be attempting to stabilize since probing 2-year lows on 11/18/09. XLU/SPY remains moderately below its 50- and 200-day simple moving averages. Absolute price of XLU fell below the lows of the previous 7 weeks on 1/23/10. Support 29.37 and 28.10. Resistance 31.30, 31.64 and 32.08.
Financial (XLF) Bearish, Underweight. The Relative Strength Ratio (XLF/SPY) has been in a downward correction since 10/14/09 and fell below the lows of the previous 3 weeks on 1/22/10. XLF/SPY is in a weak position, below both 50- and 200-day simple moving averages. Absolute price of XLF has been in a correction/consolidation phase since 10/14/09 and fell below the lows of the previous 5 weeks on 1/22/10. Support 14.01 and 13.78. Resistance 14.98, 15.40 and 15.76.
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Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 weeks on 1/21/10. EEM/SPY fell below its 50-day simple moving average on 1/21/10 but remains above its rising 200-day simple moving average. Absolute price of EEM fell below the lows of the previous 8 weeks on 1/22/10. EEM has underperformed the SPY since 10/14/09.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below the lows of the previous 4 weeks on 1/21/10. EFA /SPY fell below its 50-day simple moving average on 1/21/10 but remains above its rising 200-day simple moving average. Absolute price of EFA fell below the lows of the previous 11 weeks on 1/22/10. EFA has underperformed the SPY since 9/9/09.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose above its highs of the previous 8-years on 1/4/10 and remains above its rising 50- and 200-day simple moving averages. Absolute price fell below its 50-day simple moving average on 1/22/10 but remains above its rising 200-day simple moving average.
Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) has been performing sideways/neutral for most of the past 10 months, since March 2009. Longer term, IWF/IWD has been bullish since 8/8/06.
Russell 1000 Value ETF Relative Strength Ratio (IWD/SPY) has been performing sideways/neutral for most of the past 8 months, since May 2009. Longer term, IWD/SPY has been bearish since 3/22/07, and we assume that major trends continue–until proved otherwise.
The S&P 500 Equally Weighted ETF Relative Strength Ratio (RSP/SPY) rose further above previous 6-year highs on 1/8/10. RSP/SPY remains above its rising 50- and 200-day simple moving averages. Absolute price of RSP rose to a new 15-month closing price high on 1/8/10, then broke down below 5-week lows on 1/22/10.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below the lows of the previous 3 months on 12/22/09. OEX/SPX remains below its falling 50- and 200-day simple moving averages.
The Small Cap/Large Cap Relative Strength Ratio (IWM/SPY) rose to a new 3-month high on 1/22/10 and remains above both its 50- and 200-day simple moving averages. Absolute price of IWM fell below 4-week lows on 1/22/10 after rising above 15-month highs on 1/8/10, indicating a short-term correction within a long-term uptrend.
The Mid Cap/Large Cap Relative Strength Ratio (MDY/SPY) rose above the highs of the previous 4 months on 1/22/10. MDY/SPY remains above its 50- and 200-day simple moving averages. Absolute price of MDY rose above 15-month highs on 1/11/10, then broke down below 5-week lows on 1/25/10.
Crude Oil nearest futures contract price broke down below 4-week lows on 1/22/10, confirming a minor correction. Oil is below its 50-day simple moving average but well above its rising 200-day simple moving average. Support 73.52, 72.72, 72.45, 68.59, and 65.05. Resistance 77.06, 79.47, 80.36, 83.95, 85.82 and 98.65.
Gold nearest futures contract price broke down below 4-week lows on 1/22/10, confirming a minor correction. Gold is below its 50-day simple moving average but well above its rising 200-day simple moving average. Support 1075.2 and 1028.0. Resistance 1163.0, 1170.2, 1196.8 and 1226.4.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) fell to a 6-month low on 1/25/10 after falling below both 50- and 200-day simple moving averages on 1/15/10. The gold mining stocks have underperformed gold bullion since 9/17/09.
Silver/Gold Ratio fell sharply since 1/19/10, breaking below its 50-day simple moving average, suggesting new doubts about prospects for the world economy.
Copper nearest futures contract price broke down below 4-week on 1/21/10, signaling a downside correction. Falling copper prices suggest doubts about global economic prospects. Support 3.2475, 3.06 and 2.966. Resistance 3.47, 3.544, 3.5625, 3.5625, and 3.79.
U.S. Treasury Bond nearest futures contract price rose further above 5-week highs on 1/22/10, confirming the short-term trend as bullish. The Bond rose above its 50-day simple moving average but is still below its 200-day simple moving average. Support 116.22, 115.24, 114.16, 113.04 and 112.15. Resistance 119.08 and 120.08.
Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) fell below the lows of the previous 6 weeks on 1/22/10, signaling a downside correction. JNK/LQD has been testing its 50- day simple moving average and remains above its rising 200-day simple moving average. Absolute price of JNK fell below 6-week lows and broke down below its 50-day simple moving average on 1/22/10 but remains above its rising 200-day simple moving average.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) rose to another new 15-month high on 1/7/10, again confirming a bullish long-term trend. TIP/IEF remains above rising 50- and 200-day simple moving averages. Bond investors may be growing increasingly concerned about the inflation outlook, despite assurances of tame inflation by economists.
The U.S. dollar nearest futures contract price rose above 3-month highs on 1/21/10. USD has been holding above its rising 50-day simple moving average and now is only slightly below its falling 200-day simple moving average. Support 76.74 and 75.90. Resistance 79.00 and 79.695.
The Art of Contrary Thinking: The various surveys of investor sentiment are best considered as background factors. The majority of investors can be right for a long time before a major trend finally changes course. The Art of Contrary Thinking is best used together with more precise market timing tools.
Advisory Service Sentiment: There were 52.2% Bulls versus 18.9% Bears as of 1/20/10, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio fell to 2.76, down from 3.36 on 1/13/10, which was the highest ratio of bullish sentiment in 6 years. The 20-year range of the ratio is 0.41 to 3.74, the median is 1.50, and the mean is 1.57.
VIX Fear Index jumped to 27.31 on 1/22/10, up from 17.55 on 1/11/10, which was its lowest level in 26 months. VIX is down from a closing high of 80.86 set on 11/20/08. 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.
VXN Fear Index jumped to 28.37 on 1/22/10, up from 17.73 on 1/14/10, which was its lowest level in 26 months. VXN is down from a closing high of 80.64 set on 11/20/08. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.
ISEE Call/Put Ratio fell to 0.88, down from 1.68 on 1/11/10, indicating a shift to pessimism from optimism. The ratio’s 6-year mean is 1.41, its median is 1.36, and its range is 0.51 to 3.16.
CBOE Put/Call Ratio rose to 0.64, up from 0.49 on 1/8/10, a reversion to the mean. The ratio’s 6-year mean is 0.66, its median is 0.64, and its range is 0.35 to 1.35.
The Dow Theory last confirmed a Bullish Major Trend on 1/11/10, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above their closing price highs of the previous 14 months. The Dow Theory 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. That 7/23/09 signal reversed the previous signal: the two Averages signaled a Primary Tide Bear Market on 11/21/07, when both Averages closed below their closing price lows of August 2007.
S&P 500 Composite (SPX) fell 5.08% over 3 trading days from a peak on 1/19/10 to a low on 1/22/10. That was the 4th decline in the 5% to 10% range since the bottom on 3/9/09 (based on closing prices only). The largest decline was 7.09% over 28 calendar days from 6/12/09 to 7/10/09. Price pullbacks lasting a few days to a few weeks and declining less than 10% are common in Bull Markets. For example, there were 9 declines more than 5% but less than 10% from the low in March 2003 to the bull market top in October 2007. There were no pullbacks of as much as 10%, and no pullback lasted as long as 3 months. (SPX) closed below 6-week closes and below its 50-day simple moving average on 1/22/10, thereby confirming a minor downside correction. SPX remained well above its rising 200-day simple moving average. Support 1089.99, 1083.74, 1080.15, and 1066.83. Resistance 1131.32 and 1150.45.
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
1335.63, high of 6/25/2008
1313.15, high of 8/11/2008
1274.42, high of 9/8/2008
1255.09, high of 9/12/2008
1238.81, Fibonacci 78.6% of 1,576.09 high
1228.74, Fibonacci 61.8% of 2007-2009 range
1220.03, high of 9/25/2008
1158.76, EW ABC measured move target
1150.45, high of 1/19/2010
1131.32, low of 1/7/2010
1121.44, Gann 50.0% of 2007-2009 range
S&P 500 Cash Index Potential Support
1089.99, Gann 12.5% of 2009-2010 range
1083.74, low of 11/27/2009
1080.15, high of 9/23/2009
1066.83, high of 10/29/2009
1036.31, Fibonacci 23.6% of 2009-2010 range
1029.54, Gann 25.0% of 2009-2010 range
1029.38, low of 11/2/2009
1019.95, low of 10/2/2009
991.97, low of 9/2/2009
969.08, Gann 37.5% of 2009-2010 range
965.69, Fibonacci 38.2% of 2009-2010 range
956.23, high of 6/11/2009
908.62, Gann 50.0% of 2009-2010 range
869.32, low of 7/8/2009
851.55, Fibonacci 61.8% 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
2.23% United Kingdom Index, EWU
2.14% Sweden Index, EWD
1.90% Switzerland Index, EWL
1.83% European VIPERs, VGK
1.80% Italy Index, EWI
1.75% Europe 350 S&P Index, IEV
1.72% South Africa Index, EZA
1.69% Belgium Index, EWK
1.67% Value EAFE MSCI, EFV
1.64% Growth EAFE MSCI, EFG
1.59% China 25 iS, FXI
1.57% Netherlands Index, EWN
1.53% Australia Index, EWA
1.50% Spain Index, EWP
1.46% Europe 100 BLDRS, ADRU
1.40% WilderHill Clean Energy PS, PBW
1.38% Austria Index, EWO
1.38% Semiconductor iS GS, IGW
1.36% Semiconductor H, SMH
1.36% EMU Europe Index, EZU
1.36% Pacific ex-Japan, EPP
1.34% France Index, EWQ
1.33% Telecommunications Global, IXP
1.29% Oil, Crude, U.S. Oil Fund, USO
1.29% Financials Global LargeCap Value, IXG
1.28% Hong Kong Index, EWH
1.27% Energy Exploration & Prod, PXE
1.23% EAFE Index, EFA
1.18% Singapore Index, EWS
1.15% Semiconductors, PSI
1.12% Global 100, IOO
1.10% Value LargeCap Euro STOXX 50 DJ, FEU
1.09% Dividend International, PID
1.07% Homebuilders SPDR, XHB
1.06% Internet Architecture H, IAH
1.05% Germany Index, EWG
1.02% Pacific VIPERs, VPL
1.01% Short 200% US T Bond, TBT
1.00% LargeCap Blend NYSE Composite iS, NYC
1.00% Technology Global, IXN
0.99% Semiconductor SPDR, XSD
0.98% Telecom H, TTH
0.97% Emerging VIPERs, VWO
0.97% Basic Materials DJ US, IYM
0.97% South Korea Index, EWY
0.96% Telecom DJ US, IYZ
0.93% Oil Services H, OIH
0.92% Telecom Services VIPERs, VOX
0.89% Materials SPDR, XLB
0.88% Metals & Mining SPDR, XME
0.87% Developed 100 BLDRS, ADRD
0.86% LargeCap Blend Dynamic PS, PWC
0.85% Japan LargeCap Blend TOPIX 150, ITF
0.85% Ultra S&P500 Double, SSO
0.84% Oil & Gas, PXJ
0.83% Technology SPDR, XLK
0.83% China LargeCap Growth G D H USX PS, PGJ
0.81% Global Titans, DGT
0.79% Value 40 Large Low P/E FT DB, FDV
0.79% Japan Index, EWJ
0.78% Natural Resource iS GS, IGE
0.78% Value MidCap iS M, JKI
0.77% Technology DJ US, IYW
0.77% Materials VIPERs, VAW
0.76% Energy VIPERs, VDE
0.76% Telecommunications & Wireless, PTE
0.76% Capital Markets KWB ST, KCE
0.73% Energy DJ, IYE
0.73% LargeCap Blend Core iS M, JKD
0.73% Emerging Markets, EEM
0.73% Real Estate US DJ, IYR
0.70% REIT VIPERs, VNQ
0.70% Euro STOXX 50, FEZ
0.69% Asia 50 BLDRS, ADRA
0.68% Value LargeCap Fundamental RAFI 1000, PRF
0.68% Wilshire 5000 ST TM, TMW
0.67% Utilities SPDR, XLU
0.66% Bank Regional H, RKH
0.66% Energy SPDR, XLE
0.65% India Earnings WTree, EPI
0.65% Malaysia Index, EWM
0.65% Industrial SPDR, XLI
0.64% Growth Large Cap, ELG
0.63% Utilities VIPERs, VPU
0.63% Info Tech VIPERs, VGT
0.63% Financials VIPERs, VFH
0.62% LargeCap Blend S&P=Weight R, RSP
0.61% Energy Global, IXC
0.60% LargeCap VIPERs, VV
0.60% Insurance, PIC
0.60% MidCap Growth iS M, JKH
0.59% Value LargeCap Russell 3000, IWW
0.58% Growth LargeCap iS M, JKE
0.58% Utilities DJ, IDU
0.58% Ultra QQQ Double, QLD
0.57% Lg Cap Growth PSD, PWB
0.56% Technology GS, IGM
0.56% OTC Dynamic PS, PWO
0.55% Ultra Dow30 Double, DDM
0.55% Financial SPDR, XLF
0.55% Value SmallCap Dynamic PS, PWY
0.55% Water Resources, PHO
0.55% Financial Services DJ, IYG
0.54% Value LargeCap Dynamic PS, PWV
0.54% LargeCap Blend S&P 1500 iS, ISI
0.53% Dividend SPDR, SDY
0.53% LargeCap 1000 R, IWB
0.52% MidCap VIPERs, VO
0.52% Value LargeCap NYSE 100 iS, NY
0.52% Consumer Discretionary SPDR, XLY
0.51% LargeCap Blend Total Market DJ, IYY
0.51% S&P 500 SPDRs LargeCap Blend, SPY
0.51% Value VIPERs, VTV
0.50% S&P 500 iS LargeCap Blend, IVV
0.49% SmallCap Core iS M, JKJ
0.49% Financial DJ US, IYF
0.49% Taiwan Index, EWT
0.48% Growth VIPERs, VUG
0.48% Dividend Appreciation Vipers, VIG
0.47% Commodity Tracking, DBC
0.47% Short 200% Bond 7-10 Yr T, PST
0.46% Growth S&P 500/BARRA, IVW
0.46% Software H, SWH
0.46% Consumer D. VIPERs, VCR
0.46% Ultra MidCap400 Double, MVV
0.45% LargeCap Blend Russell 3000, IWV
0.44% Value SmallCap VIPERS, VBR
0.44% Value Large Cap DJ, ELV
0.44% Value 1000 Russell, IWD
0.44% Value MidCap Dynamic PS, PWP
0.44% Value S&P 500 B, IVE
0.44% Technology MS sT, MTK
0.43% Value MidCap Russell, IWS
0.43% Blend Total Market VIPERs, VTI
0.43% Dividend Leaders, FDL
0.42% Retail, PMR
0.42% Dividend Achievers PS, PFM
0.42% Consumer Non-Cyclical, IYK
0.42% Industrial LargeCap Blend DJ US, IYJ
0.42% LargeCap Blend Socially Responsible iS, KLD
0.41% Value S&P 500, RPV
0.41% Utilities, PUI
0.41% Industrials VIPERs, VIS
0.40% MidCap Russell, IWR
0.40% LargeCap Rydex Rus Top 50, XLG
0.40% Realty Cohen & Steers, ICF
0.40% LargeCap Blend S&P 100, OEF
0.37% Extended Mkt VIPERs, VXF
0.37% Dividend DJ Select, DVY
0.36% Growth SmallCap iS M, JKK
0.35% Growth 1000 Russell, IWF
0.35% Growth Small Cap DJ, DSG
0.35% Value SmallCap iS M, JKL
0.34% Value LargeCap iS M, JKF
0.34% Growth LargeCap NASDAQ 100, QQQQ
0.33% Growth LargeCap NASDAQ Fidelity, ONEQ
0.32% REIT Wilshire, RWR
0.31% MidCap S&P 400 SPDRs, MDY
0.31% Transportation Av DJ, IYT
0.30% Silver Trust iS, SLV
0.29% Aerospace & Defense, PPA
0.29% MidCap Blend Core iS M, JKG
0.29% Gold Shares S.T., GLD
0.28% Canada Index, EWC
0.28% Growth LargeCap Russell 3000, IWZ
0.28% DIAMONDS (DJIA), DIA
0.27% Value Small Cap DJ, DSV
0.26% Small Cap VIPERs, VB
0.26% Value SmallCap S&P 600 B, IJS
0.24% Value SmallCap Russell 2000, IWN
0.23% Networking, IGN
0.23% Growth MidCap Russell, IWP
0.21% Growth S&P 500, RPG
0.21% Healthcare Global, IXJ
0.21% Growth MidCap 400 B, IJK
0.19% Consumer Staples VIPERs, VDC
0.19% Consumer Staples SPDR, XLP
0.17% MidCap S&P 400 iS, IJH
0.16% Utilities H, UTH
0.15% Value MidCap S&P 400 B, IJJ
0.15% Bond, High-Yield Corporate, HYG
0.15% Health Care VIPERs, VHT
0.14% Pharmaceutical H, PPH
0.13% Growth SmallCap VIPERs, VBK
0.13% Dividend High Yield Equity PS, PEY
0.13% SmallCap S&P 600, IJR
0.12% Building & Construction, PKB
0.12% Growth MidCap S&P 400, RFG
0.11% SmallCap Russell 2000, IWM
0.09% IPOs, First Tr IPOX-100, FPX
0.09% Retail H, RTH
0.08% Microcap Russell, IWC
0.05% Consumer Cyclical DJ, IYC
0.05% Software, PSJ
0.03% Preferred Stock iS, PFF
0.02% Emerging 50 BLDRS, ADRE
0.02% Healthcare DJ, IYH
0.00% Value SmallCap S&P 600, RZV
0.00% Pharmaceuticals, PJP
0.00% Internet Infrastructure H, IIH
0.00% Health Care SPDR, XLV
0.00% Growth BARRA Small Cap 600, IJT
0.00% Food & Beverage, PBJ
0.00% Financial Preferred, PGF
-0.01% Bond, Corp, LQD
-0.01% Bond, Aggregate, AGG
-0.04% Software, IGV
-0.05% Growth Mid Cap Dynamic PS, PWJ
-0.08% Growth SmallCap Dynamic PS, PWT
-0.08% Bond, 1-3 Year Treasury, SHY
-0.09% Latin Am 40, ILF
-0.10% Brazil Index, EWZ
-0.12% Biotech & Genome, PBE
-0.15% Growth SmallCap R 2000, IWO
-0.15% SmallCap PS Zacks, PZJ
-0.21% Micro Cap Zachs, PZI
-0.22% Bond, 10 Year Treasury, IEF
-0.25% Short 100% MidCap 400, MYY
-0.26% Bond, TIPS, TIP
-0.26% Short 100% Dow 30, DOG
-0.27% Internet H, HHH
-0.28% Value Line Timeliness MidCap Gr, PIV
-0.31% Short 100% QQQ, PSQ
-0.41% Short 200% MidCap 400 PS, MZZ
-0.42% Biotech SPDR, XBI
-0.45% Short 100% S&P 500, SH
-0.46% Bond, 20+ Years Treasury, TLT
-0.50% Nanotech Lux, PXN
-0.55% Short 200% Dow 30 PS, DXD
-0.60% Short 200% QQQ PS, QID
-0.66% Leisure & Entertainment, PEJ
-0.78% Biotech H, BBH
-0.80% Mexico Index, EWW
-0.94% Short 200% S&P 500 PS, SDS
-2.33% Internet B2B H, BHH