Friday’s price action in the stock price indexes qualifies as a hammer, which is a bullish reversal candlestick pattern in a downward price trend. The hammer has a long lower shadow much greater than the small real body and has a very small upper shadow. Early-day extreme lows were rejected by the market, and the small white real body indicates that the bulls took control by the close.
High volume on the day confirmed the upside reversal.
Stock price indexes got oversold and may have found support above the November lows and above 200-day simple moving averages.
Various short-term momentum oscillators, such as RSI 14, turned up after holding above last week’s low and, thereby, showing bullish divergence compared to price.
The stock market appears to have undergone a typical, 5% to 10% short-term correction within a long-term uptrend.
Prices of the major indexes and stock sectors have fallen to multi-month lows and have crossed below their 50-day simple moving averages in recent weeks. But prices have held above 200-day simple moving averages, which are much more significant indicators of the major trends.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below the lows of the previous 10 months. EFA /SPY is below both its 50-day and 200-day simple moving averages. Absolute price of EFA fell below the lows of the previous 5 months on 2/5/10 and is below both its 50-day and 200-day simple moving averages.
CRB Index of commodity prices, Crude Oil, Gold, and Copper fell further below 2-3-month lows. Weakness in industrial commodity prices suggests renewed doubts about prospects for the world economy.
U.S. Treasury Bond price broke out above 5-week highs on 2/5/10, thereby signaling an uptrend for the short term. In addition, the Bond price rose above its 50-day and 200-day simple moving averages, thereby signaling an uptrend for the longer term.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) broke down below 7-week lows and its 50-day simple moving average. TIP/IEF remains above its rising 200-day simple moving average.
The U.S. dollar price broke out above 7-month highs, again confirming a significant uptrend. USD crossed above its rising 50-day simple moving average on 12/8/09 and crossed above its falling 200-day simple moving average on 1/27/10.
VIX Fear Index jumped to a 3-month high at 29.22 on 2/5/10, up from 17.55 on 1/11/10, which was its lowest level in 26 months.
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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
11.61% , PWER , POWER ONE
3.53% , PKI , PERKINELMER
4.88% , PBI , PITNEY BOWES
1.18% , PSI , Semiconductors, PSI
3.63% , RFMD , RF Micro Devices Inc
5.63% , SPG , SIMON PROP GRP
6.18% , NEM , NEWMONT MINING
5.23% , FCX , FREEPRT MCMORAN STK B
1.00% , VFH , Financials VIPERs, VFH
0.43% , IWC , Microcap Russell, IWC
2.30% , WAT , WATERS
1.67% , MON , MONSANTO
1.30% , AET , AETNA
1.97% , HANS , Hansen Natural, HANS
0.89% , IAH , Internet Architecture H, IAH
1.52% , KCE , Capital Markets KWB ST, KCE
0.55% , PJP , Pharmaceuticals, PJP
2.56% , Q , QWEST COMMUNICAT
1.35% , PCG , PG&E
0.94% , VGT , Info Tech VIPERs, VGT
1.04% , RKH , Bank Regional H, RKH
6.07% , BRCM , BROADCOM STK A
1.68% , TXN , TEXAS INSTRUMENT
1.77% , DELL , DELL
3.47% , FMCN , Focus Media, FMCN
1.82% , IYM , Basic Materials DJ US, IYM
1.87% , XLB , Materials SPDR, XLB
2.92% , XME , Metals & Mining SPDR, XME
1.25% , ROK , ROCKWELL AUTOMAT
1.90% , ORCL , ORACLE
1.65% , ERTS , ELECTRONIC ARTS
1.84% , UNP , UNION PACIFIC
1.05% , IYG , Financial Services DJ, IYG
1.24% , TROW , T ROWE PRICE GP
1.61% , X , US STEEL CORP
1.11% , IYW , Technology DJ US, IYW
0.45% , ELG , Growth Large Cap, ELG
0.88% , IGE , Natural Resource iS GS, IGE
2.28% , IGW , Semiconductor iS GS, IGW
0.65% , PXQ , Networking, PXQ
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-1.76% , PMR , Retail, PMR
-6.85% , APD , AIR PRODS & CHEM
-1.16% , IXJ , Healthcare Global, IXJ
-2.28% , ACS , AFFILIATED COMPUTER
-2.82% , RAI , RJR TOBACCO HLDS
-1.57% , PTE , Telecommunications & Wireless, PTE
-1.10% , PID , Dividend International, PID
-2.74% , KBH , KB HOME
-3.37% , HMA , HEALTH MGMT STK A
-1.73% , FEZ , Euro STOXX 50, FEZ
-2.33% , WY , WEYERHAEUSER
-3.32% , TXT , TEXTRON
-2.16% , DDS , DILLARD STK A
-1.50% , EWG , Germany Index, EWG
-0.94% , PWP , Value MidCap Dynamic PS, PWP
-1.28% , DBC , Commodity Tracking, DBC
-1.61% , EPI , India Earnings WTree, EPI
-4.11% , LEN , Lennar Corp. (LEN)
-0.84% , EFV , Value EAFE MSCI, EFV
-2.17% , CEG , CONSTELL ENERGY
-2.20% , VIA , VIACOM INC. (New)
-2.97% , DOV , DOVER
-1.62% , EWL , Switzerland Index, EWL
-1.81% , WLP , WELLPOINT HEALTH
-1.78% , AM , AMER GREETINGS STK A
-1.90% , KG , KING PHARM
-2.32% , EWO , Austria Index, EWO
-1.60% , ADRU , Europe 100 BLDRS, ADRU
-2.74% , FDX , FEDEX
-1.92% , TWX , TIME WARNER INC
-2.20% , EWI , Italy Index, EWI
-2.49% , LBTYA , Liberty Global Inc. (LBTYA)
-0.77% , PIV , Value Line Timeliness MidCap Gr, PIV
-0.30% , PEJ , Leisure & Entertainment, PEJ
-1.10% , GLW , CORNING
-0.62% , PIC , Insurance, PIC
-2.20% , GD , GENERAL DYNAMICS
-2.08% , XRX , XEROX
-0.57% , PUI , Utilities, PUI
-3.71% , CTB , COOPER TIRE
9 major U.S. stock sectors ranked in order of long-term relative strength:
Consumer Discretionary (XLY) Bullish, Overweight. The Relative Strength Ratio (XLY/SPY) rose further above the highs of the previous 34 months on 2/4/10. XLY/SPY remains above its rising 50- and 200-day simple moving averages. Absolute price of XLY fell below the lows of the previous 6 months on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. Support 28.21 and 26.62. Resistance 29.78, 30.38, 30.54, 31.95 and 33.76.
Health Care (XLV) Bullish, Overweight. The Relative Strength Ratio (XLV/SPY) rose above 6-month highs on 1/29/10. XLV/SPY remains above its rising 50- and 200-day simple moving averages. Absolute price of XLV fell below the lows of the previous 6 months on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. Support 30.27, 30.65 and 29.55. Resistance 32.12, 33.16, 33.37 and 33.74.
Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) fell further below the lows of the previous 3 months on 2/2/10. XLK/SPY fell below its 50-day simple moving average on 1/11/10 and fell below its 200-day simple moving average on 1/28/10. Absolute price of XLK fell below 3-month lows on 2/5/10. Price broke down below its 50-day simple moving average on 1/22/10 but remains above its rising 200-day simple moving average. Support 20.71, 20.46 and 20.09. Resistance 21.51, 22.05, 22.59, 22.87, and 23.05.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) has moderately outperformed since the market bottom on 3/6/09. XLI/SPY remains moderately above rising 50-day and 200-day simple moving averages. Absolute price of XLI fell below 3-month lows on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. Support 26.66 and 25.20. Resistance 28.41, 29.61, 30.56 and 32.00.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) rose above the highs of the previous 9 weeks on 1/29/10 and above its 50-day simple moving average on 1/22/10. XLP/SPY is only slightly below its falling 200-day simple moving average. Absolute price of XLP fell below 2 month lows on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. Support 26.05, 25.96 and 25.77. Resistance 26.81, 27.04, 27.18 and 29.29.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY ) fell below the lows of the previous 6 months on 1/29/10. XLB/SPY fell below both 50- and 200-day simple moving averages on 1/21/10 and has continued to decline. Absolute price of XLB fell below 13-week lows on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. Support 29.48, 28.95 and 28.67. Resistance 31.62, 32.57, 33.73 and 34.52.
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) fell below the lows of the previous 6 weeks on 1/29/10. XLE/SPY fell below its 50-day and 200-day simple moving averages on 1/26/10. Absolute price of XLE fell below the lows of the previous 8 weeks on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. Support 52.67 and 51.34. Resistance 57.36, 57.72, 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 below both its 50-day and 200-day simple moving averages. Absolute price of XLU fell below the lows of the previous 13 weeks on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. Support 28.46 and 28.10. Resistance 29.98, 31.30, 31.64 and 32.08.
Financial (XLF) Neutral, Market Weight. The Relative Strength Ratio (XLF/SPY) was in a downward correction from 10/14/09 to 12/17/09 after outperforming from 3/6/09 to 10/14/09. XLF/SPY appears to be attempting to stabilize in recent weeks but remains below its 200-day simple moving average. Absolute price of XLF fell below the lows of the previous 6 months on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. Support 13.51 and 13.08. Resistance 14.60, 14.68, 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 5 months on 2/5/10. In addition, absolute price of EEM fell below the lows of the previous 5 months on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average. 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 10 months on 2/5/10. EFA /SPY is below both its 50-day and 200-day simple moving averages. Absolute price of EFA fell below the lows of the previous 5 months on 2/5/10 and is below both its 50-day and 200-day simple moving averages. EFA has underperformed the SPY since 9/9/09.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose above its rising 50-day simple moving average on 2/5/10 and remains above its rising 200-day simple moving average. Absolute price fell below 3-month lows on 2/5/10. Price remains below its 50-day but above its 200-day simple moving average.
Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) has been performing sideways/neutral for most of the past 11 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 9 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 above previous 6-year highs on 2/2/10. 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. Price remains below its 50-day but above its 200-day simple moving average.
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. Absolute price remains below its 50-day but above its 200-day simple moving average.
The Small Cap/Large Cap Relative Strength Ratio (IWM/SPY) rose back above its 200-day simple moving average on 2/5/10 and remains above its 50-day simple moving average. Absolute price remains below its 50-day but above its 200-day simple moving average.
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 remains below its 50-day but above its 200-day simple moving average.
CRB Index of commodity prices fell further below 3-month lows on 2/5/10.
Crude Oil nearest futures contract price fell below the lows of the previous 7 weeks on 2/5/10, confirming a short-term downtrend. Oil remains below its 50-day but above 200-day simple moving average. Support 68.59 and 65.05. Resistance 78.04, 79.47, 80.36, 83.95, 85.82 and 98.65.
Gold nearest futures contract price fell further below 3-month lows on 2/5/10. Gold remains below its 50-day simple moving average but above its rising 200-day simple moving average. Support 1026.9 and 989.3. Resistance 1126.4, 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 below 7-month lows on 1/29/10 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. Absolute price of GDX fell below the lows of the previous 5 months on 2/5/10 and is below both its 50-day and 200-day simple moving averages.
Silver/Gold Ratio fell further below 6-month lows on 2/5/10. It fell sharply from 1/19/10 to 2/5/10, breaking below both 50- and 200-day simple moving averages. The Silver/Gold Ratio has been trending lower since its peak on 9/16/09, following 11 months of rising trend. Weakness in this Ratio suggests renewed doubts about prospects for the world economy.
Copper nearest futures contract price broke down further below 3-month lows on 2/5/10. Weakness in Copper suggests renewed doubts about prospects for the world economy. Support 2.64 and 2.4575. Resistance 3.144, 3.267, 3.47, 3.544, 3.5625, 3.5625, and 3.79.
U.S. Treasury Bond nearest futures contract price broke out above 5-week highs on 2/5/10, thereby signaling an uptrend for the short term. In addition, the Bond price rose above its 50-day and 200-day simple moving averages, thereby signaling an uptrend for the longer term. Support 117.08, 116.22, 115.24, 114.16, 113.04 and 112.15. Resistance 120.11 and 123.18.
Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) fell below 8-week lows and below its 50-day simple moving average on 2/4/10. JNK/LQD remains above its 200-day simple moving average. Absolute price of JNK remains below its 50-day but above its rising 200-day simple moving average.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) broke down below 7-week lows and its 50-day simple moving average on 2/5/10. TIP/IEF remains above its rising 200-day simple moving average. Absolute price of TIP rose above 2-month highs 1/29/10.
The U.S. dollar nearest futures contract price broke out above 7-month highs on 2/5/10, again confirming a significant uptrend. USD crossed above its rising 50-day simple moving average on 12/8/09 and crossed above its falling 200-day simple moving average on 1/27/10. Support 78.83, 78.20, 76.74 and 75.90. Resistance 81.165 and 81.795.
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 38.9% Bulls versus 22.2% Bears as of 2/3/10, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio collapsed to a neutral 1.75, 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 a 3-month high at 29.22 on 2/5/10, 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 rose to 28.64 on 2/5/10, 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 0.67 on 1/26/10, 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.
CBOE Put/Call Ratio rose to 0.79 on 2/4/10, up from 0.49 on 1/8/10, indicating a shift to moderate pessimism from optimism. 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) tested and rebounded from its 40-week EMA (the long-term weekly optimal EMA) on 2/5/10. Various short-term momentum oscillators, such as RSI 14, turned up after holding above last week’s low and thereby showing bullish divergence compared to price. The stock market appears to have gone through a typical short-term correction within a long-term uptrend. SPX fell 7.57% over 12 trading days, from a high close on 1/19/10 to the low close on 2/4/10. This was the largest decline and the 4th decline in the 5% to 10% range since the bottom on 3/9/09 (based on closing prices only). 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 its 50-day simple moving average every day since 1/22/10 (which is typical of minor corrections) but remains well above its more significant rising 200-day simple moving average now at 1018.87. Support 1044.50, 1036.31 and 1029.54. Resistance 1104.73, 1114.81, 1121.44, 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
1114.81, low of 12/31/2009
1104.73, high of 2/2/2010
1083.74, low of 11/27/2009
S&P 500 Cash Index Potential Support
1044.50, low of 2/5/2010
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
978.51, low of 8/17/2009
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
2.92% Metals & Mining SPDR, XME
2.45% Semiconductor H, SMH
2.28% Semiconductor iS GS, IGW
2.07% REIT Wilshire, RWR
1.88% Realty Cohen & Steers, ICF
1.87% Materials SPDR, XLB
1.87% Real Estate US DJ, IYR
1.84% REIT VIPERs, VNQ
1.82% Basic Materials DJ US, IYM
1.61% Semiconductor SPDR, XSD
1.57% Materials VIPERs, VAW
1.52% Capital Markets KWB ST, KCE
1.42% Ultra QQQ Double, QLD
1.18% Semiconductors, PSI
1.16% Financial SPDR, XLF
1.15% Value SmallCap S&P 600, RZV
1.11% Technology DJ US, IYW
1.05% Financial Services DJ, IYG
1.05% Financial DJ US, IYF
1.04% Bank Regional H, RKH
1.03% Technology GS, IGM
1.01% Technology SPDR, XLK
1.00% Financials VIPERs, VFH
0.94% Info Tech VIPERs, VGT
0.90% Growth LargeCap iS M, JKE
0.90% Growth LargeCap NASDAQ Fidelity, ONEQ
0.89% Internet Architecture H, IAH
0.88% Natural Resource iS GS, IGE
0.85% Technology MS sT, MTK
0.84% Growth LargeCap NASDAQ 100, QQQQ
0.73% Software, IGV
0.72% Canada Index, EWC
0.69% Telecom H, TTH
0.59% Australia Index, EWA
0.57% Internet H, HHH
0.56% Networking, IGN
0.55% Pharmaceuticals, PJP
0.52% OTC Dynamic PS, PWO
0.52% Ultra S&P500 Double, SSO
0.50% Growth S&P 500, RPG
0.48% Value SmallCap VIPERS, VBR
0.45% Growth Large Cap, ELG
0.45% Value SmallCap S&P 600 B, IJS
0.43% Value SmallCap Russell 2000, IWN
0.43% WilderHill Clean Energy PS, PBW
0.43% Microcap Russell, IWC
0.43% SmallCap Core iS M, JKJ
0.39% Internet Infrastructure H, IIH
0.39% SmallCap Russell 2000, IWM
0.37% Growth S&P 500/BARRA, IVW
0.37% Technology Global, IXN
0.34% Growth VIPERs, VUG
0.34% LargeCap Rydex Rus Top 50, XLG
0.32% LargeCap Blend Total Market DJ, IYY
0.32% Nanotech Lux, PXN
0.32% Bond, 10 Year Treasury, IEF
0.31% Growth LargeCap Russell 3000, IWZ
0.30% Biotech & Genome, PBE
0.30% Lg Cap Growth PSD, PWB
0.30% Gold Shares S.T., GLD
0.29% LargeCap Blend S&P 100, OEF
0.28% Growth SmallCap R 2000, IWO
0.28% MidCap S&P 400 SPDRs, MDY
0.27% LargeCap Blend Russell 3000, IWV
0.27% Value 1000 Russell, IWD
0.27% Dividend High Yield Equity PS, PEY
0.27% LargeCap VIPERs, VV
0.27% Retail H, RTH
0.26% LargeCap Blend S&P=Weight R, RSP
0.26% Value LargeCap Russell 3000, IWW
0.26% Transportation Av DJ, IYT
0.26% LargeCap 1000 R, IWB
0.25% MidCap Russell, IWR
0.25% Value MidCap Russell, IWS
0.24% MidCap S&P 400 iS, IJH
0.24% Growth BARRA Small Cap 600, IJT
0.24% Mexico Index, EWW
0.23% Ultra MidCap400 Double, MVV
0.23% Value SmallCap iS M, JKL
0.22% Bond, 20+ Years Treasury, TLT
0.22% S&P 500 iS LargeCap Blend, IVV
0.21% Pacific ex-Japan, EPP
0.21% Growth Small Cap DJ, DSG
0.21% Growth 1000 Russell, IWF
0.21% S&P 500 SPDRs LargeCap Blend, SPY
0.19% SmallCap S&P 600, IJR
0.19% Value MidCap S&P 400 B, IJJ
0.18% Small Cap VIPERs, VB
0.17% Ultra Dow30 Double, DDM
0.17% Blend Total Market VIPERs, VTI
0.16% Growth MidCap Russell, IWP
0.16% Growth SmallCap VIPERs, VBK
0.16% Bond, 1-3 Year Treasury, SHY
0.15% MidCap Growth iS M, JKH
0.14% MidCap VIPERs, VO
0.14% Extended Mkt VIPERs, VXF
0.12% MidCap Blend Core iS M, JKG
0.12% DIAMONDS (DJIA), DIA
0.12% Value S&P 500 B, IVE
0.11% Telecommunications Global, IXP
0.11% Micro Cap Zachs, PZI
0.11% Growth MidCap S&P 400, RFG
0.11% Growth MidCap 400 B, IJK
0.09% Value VIPERs, VTV
0.08% LargeCap Blend Core iS M, JKD
0.08% Biotech H, BBH
0.07% Latin Am 40, ILF
0.07% Software, PSJ
0.07% Value LargeCap Fundamental RAFI 1000, PRF
0.06% Growth Mid Cap Dynamic PS, PWJ
0.06% Value LargeCap Dynamic PS, PWV
0.05% Food & Beverage, PBJ
0.04% Bond, Aggregate, AGG
0.03% Dividend SPDR, SDY
0.02% Dividend DJ Select, DVY
0.02% Energy SPDR, XLE
0.02% Value Small Cap DJ, DSV
-0.01% LargeCap Blend S&P 1500 iS, ISI
-0.05% Brazil Index, EWZ
-0.05% LargeCap Blend NYSE Composite iS, NYC
-0.06% Energy DJ, IYE
-0.07% Short 100% Dow 30, DOG
-0.08% Consumer Staples VIPERs, VDC
-0.08% Growth SmallCap Dynamic PS, PWT
-0.10% Pacific VIPERs, VPL
-0.11% LargeCap Blend Socially Responsible iS, KLD
-0.11% Biotech SPDR, XBI
-0.11% Telecom DJ US, IYZ
-0.11% Consumer Cyclical DJ, IYC
-0.12% Telecom Services VIPERs, VOX
-0.13% Dividend Leaders, FDL
-0.13% Value S&P 500, RPV
-0.13% Water Resources, PHO
-0.14% Japan LargeCap Blend TOPIX 150, ITF
-0.16% Healthcare DJ, IYH
-0.16% Short 200% Dow 30 PS, DXD
-0.16% Health Care SPDR, XLV
-0.17% Short 200% MidCap 400 PS, MZZ
-0.17% Utilities SPDR, XLU
-0.17% EAFE Index, EFA
-0.18% Energy VIPERs, VDE
-0.18% Bond, TIPS, TIP
-0.19% Emerging VIPERs, VWO
-0.20% Japan Index, EWJ
-0.21% Dividend Appreciation Vipers, VIG
-0.24% Consumer Non-Cyclical, IYK
-0.24% Health Care VIPERs, VHT
-0.26% Short 100% S&P 500, SH
-0.26% Short 100% MidCap 400, MYY
-0.26% Utilities VIPERs, VPU
-0.26% Value LargeCap iS M, JKF
-0.26% SmallCap PS Zacks, PZJ
-0.27% Consumer Staples SPDR, XLP
-0.27% Value MidCap iS M, JKI
-0.28% Short 200% US T Bond, TBT
-0.28% Consumer Discretionary SPDR, XLY
-0.28% Singapore Index, EWS
-0.30% LargeCap Blend Dynamic PS, PWC
-0.30% Leisure & Entertainment, PEJ
-0.31% Bond, Corp, LQD
-0.32% Global Titans, DGT
-0.32% Value SmallCap Dynamic PS, PWY
-0.34% Aerospace & Defense, PPA
-0.36% Dividend Achievers PS, PFM
-0.39% Financials Global LargeCap Value, IXG
-0.39% Utilities H, UTH
-0.40% Utilities DJ, IDU
-0.40% Value 40 Large Low P/E FT DB, FDV
-0.41% Industrial LargeCap Blend DJ US, IYJ
-0.41% Hong Kong Index, EWH
-0.42% Value Large Cap DJ, ELV
-0.42% Internet B2B H, BHH
-0.44% Industrial SPDR, XLI
-0.46% Industrials VIPERs, VIS
-0.46% Preferred Stock iS, PFF
-0.46% Value LargeCap NYSE 100 iS, NY
-0.48% Growth SmallCap iS M, JKK
-0.48% Malaysia Index, EWM
-0.48% Consumer D. VIPERs, VCR
-0.51% Software H, SWH
-0.51% Pharmaceutical H, PPH
-0.53% Short 200% S&P 500 PS, SDS
-0.54% China LargeCap Growth G D H USX PS, PGJ
-0.56% Wilshire 5000 ST TM, TMW
-0.57% Energy Exploration & Prod, PXE
-0.57% Utilities, PUI
-0.59% Bond, High-Yield Corporate, HYG
-0.60% Oil Services H, OIH
-0.61% Short 200% Bond 7-10 Yr T, PST
-0.62% Short 100% QQQ, PSQ
-0.62% Insurance, PIC
-0.64% Energy Global, IXC
-0.69% IPOs, First Tr IPOX-100, FPX
-0.75% Asia 50 BLDRS, ADRA
-0.76% Oil & Gas, PXJ
-0.77% Value Line Timeliness MidCap Gr, PIV
-0.84% Value EAFE MSCI, EFV
-0.84% Sweden Index, EWD
-0.85% Building & Construction, PKB
-0.87% Spain Index, EWP
-0.92% Emerging 50 BLDRS, ADRE
-0.92% European VIPERs, VGK
-0.93% Silver Trust iS, SLV
-0.94% Value MidCap Dynamic PS, PWP
-0.97% Financial Preferred, PGF
-1.02% South Africa Index, EZA
-1.10% Dividend International, PID
-1.11% Developed 100 BLDRS, ADRD
-1.12% Emerging Markets, EEM
-1.12% Homebuilders SPDR, XHB
-1.16% Growth EAFE MSCI, EFG
-1.16% Healthcare Global, IXJ
-1.18% Global 100, IOO
-1.18% China 25 iS, FXI
-1.19% United Kingdom Index, EWU
-1.20% South Korea Index, EWY
-1.28% Commodity Tracking, DBC
-1.37% Taiwan Index, EWT
-1.50% Germany Index, EWG
-1.53% Short 200% QQQ PS, QID
-1.57% Telecommunications & Wireless, PTE
-1.60% Europe 100 BLDRS, ADRU
-1.61% India Earnings WTree, EPI
-1.62% Switzerland Index, EWL
-1.65% Oil, Crude, U.S. Oil Fund, USO
-1.73% Euro STOXX 50, FEZ
-1.76% Retail, PMR
-1.91% Europe 350 S&P Index, IEV
-1.91% EMU Europe Index, EZU
-2.11% Value LargeCap Euro STOXX 50 DJ, FEU
-2.20% Italy Index, EWI
-2.27% Belgium Index, EWK
-2.32% Austria Index, EWO
-2.32% Netherlands Index, EWN
-2.78% France Index, EWQ
