The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) rose above its highs of the previous 8 weeks. Large Caps tend to outperform in bearish general market trends as investors seek the perceived relative safety of large size.
Absolute price of the NASDAQ Composite broke down below its lows of the previous 3 trading days and below its 11-weeks uptrend line on 3/5/12.
The S&P 500 Composite (SPX: 1,364.33) fell below its lows of the previous 4 trading days and broke below an 11-weeks uptrend line rising from the low of 1,202.37 on 12/19/11. Previously, SPX showed signs of fatigue when it stalled out last Thursday and Friday following a bearish Key Reversal Day on Wednesday.
NYSE volume rose 2% on Monday as prices declined, suggesting a modest upswing in selling pressure. On days when stock prices rise, volume languishes at extremely low levels, suggesting weak demand for stocks.
The chart of Cumulative NYSE Advance-Decline Volume stalled out below its previous highs in February, April, and June, 2011, 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.
One of the most popular price momentum indicators, RSI(14), fell below its lows of the previous 7 weeks after failing to confirm higher price highs over the past 16 trading days. RSI(14) is warning of bearish divergence.
My Sensitive Short-Term Price Momentum Oscillator based on SPX turned fell below its lows of the previous 10 trading days, indicating a bearish divergence compared to the close price of the SPX. In recent weeks, the slowness of the grind higher indicated that the stock market already had lost most of its bullish momentum.
Expect resistance near the 2011 highs, around the intraday peak on the SPX at 1370.58 set on 5/2/2011, allowing plus or minus a few percentage points for Gann’s “lost motion”.
Overbought, up big from the October low, and with no room above before encountering resistance, Potential Reward relative to potential Risk appears unattractive for stocks.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) fell below the lows of the previous 4 weeks and below its 200-day SMA on 3/5/12, confirming a short-term correction at least.
Silver, iShares Silver Trust ETF (SLV) fell below the lows of the previous 9 trading days on 3/5/12 in what looks like a minor ABC, 3-wave pullback within a larger uptrend.
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Equity Mutual Funds lost 6% in 2011, according to Lipper Research Services.
Hedge funds lost 5%, according to COO Connect.
Hedge funds suffered their second-worst year on record in 2011, according to an index maintained by Eurekahedge, an independent research firm that specializes in hedge fund data. Some of the world’s largest and best-known hedge funds suffered huge losses, down 20% to 50%.
But not all money managers were down in 2011; see:
Robert W. Colby Asset Management, Inc. (click here).
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9 major U.S. stock sectors ranked in order of long-term relative strength:
Available by subscription only (click here).
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Stock Market Indicators
The Dow Theory gave a bullish signal on 12/23/11, 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 modestly higher while Transports failed to confirm higher highs. The Industrials rose above their highs of the previous 3 years on 2/28/12, but the Transports were 3.79% below their high closing price set on 2/3/12.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose from 12/29/12 to 2/16/12 but stalled since. Still, the Ratio remains above its 50-day and 200-day SMAs. Absolute price of the NASDAQ Composite rose to an 11-year high intraday on 2/29/12 but reversed to close lower, possibly suggesting exhaustion for the short term. Price broke down below its lows of the previous 3 trading days and below its 11-weeks uptrend line on 3/5/12.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) 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 1/13/11.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) remains technically neutral. EEM/SPY remains above its 50-day SMA but 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) underperformed again and appears to be pointing toward further weakness. EFA/SPY remains technically 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 1/14/11.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) rose above its highs of the previous 8 weeks on 3/5/12, thereby confirming its preexisting bullish trend. OEX/SPX remains above its 50-day and 200-day SMAs, 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) fell below the lows of the previous 8 weeks on 3/2/12, thereby confirming a relatively weak trend for the medium term. IWM/SPY is technically neutral, below its 50-day SMA and 200-day SMA, but with the 50-day SMA now slightly above the 200-day SMA.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below the lows of the previous 4 weeks on 3/2/12, thereby confirming a relatively weak trend for the medium term. MDY/SPY is technically neutral, below the 200-day SMA but above the 50-day SMA. Longer-term, the 50-day SMA has remained below the 200-day SMA consistently every day since 8/24/11.
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Sentiment for Contrary Thinking
Recent 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.
ABC News reported on 2/21/12 that 10 out of 10 investment strategists at large firms were bullish. http://abcnews.go.com/watch/world-news-with-diane-sawyer/SH5585921/VD55173505/world-news-221-dow-jones-climbs-past-13000
The Commitment of Traders (COT) report showed that the Commercials (giant corporations with deep pockets) have been buying “risk off” defensive futures contracts, specifically, the U.S. dollar and the ten-year Treasury note. On the other side, trend-following Speculators have been buying “risk on” aggressively bullish contracts, setting a new all-time net-long record in the Nasdaq futures. The unusually large size of Speculators’ positions implies a weak-handed, top-heavy stock market.
AAII Sentiment: There were 51.64% Bulls and 20.19% Bears, according to the AAII weekly survey reported on 2/9/12. This was the highest level of bullish sentiment in more than a year, since 52.34% Bulls on 1/13/11.
Investors Intelligence Sentiment: 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 was the highest level of bullish sentiment since the stock market top in May, 2011.
Investment Newsletters were 75% bullish, the highest since near the major top in year 2000, according to Hulbert Digest.
Market Vane’s Bullish Consensus among Advisors and Newsletters rose to 66% Bulls–in the same 64% to 69% range last seen from February to July 2011 at the highs.
Short Selling ETFs were trading the lowest volume since the market top in April, 2011, according to Frank D. Gretz of Wellington Shields & Co.
Corporate insiders have been selling their companies’ stock at the heaviest rate since the market peak in July 2011, 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 was 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 was 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. That pool of demand has been 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
1378.04, high of 2/29/2012
1376.55, Fibonacci 100.0% projection 10/11 range
1370.58, high of 5/2/11
The S&P 500 Composite Potential Support
1352.28, low of 2/23/2012
1337.35, low of 2/10/2012
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
1258.78, 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) turned neutral on 2/25/12 when price fell below its 50-day SMA. TLT remains above its 200-day SMA, and 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 114.95, 114.62, 109.82, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 119.14, 120.91, 121.64, 121.76, 124.02 and 125.03.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) turned neutral on 2/29/12 when price fell below its 50-day SMA. IEF remains above its 200-day SMA. The 50-day SMA has remained above the 200-day SMA every day since 6/21/11, suggesting a persistently bullish major trend for the longer term. Support 104.34, 104.00, 103.29, 102.32, 101.36, 101.11, 99.79, and 97.66. Resistance 105.80, 106.49 and 106.66.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) turned bearish again on 3/2/12 when it fell below its 50-day SMA. JNK/LQD remains below its 200-day SMA, and 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) fell below the lows of the previous 4 weeks and below its 200-day SMA on 3/5/12, confirming a short-term correction at least. Previously, TIP/IEF rose from 12/30/11 to 2/22/12 as it became apparent that the world’s monetary authorities were willing to inflate fiat currencies. Longer term, the TIP/IEF 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) rose above the highs of the previous 8 trading days on 3/2/12, reflecting a move to “risk off”. Technically, UUP remains neutral below its 50-day SMA but above its 200-day SMA since 1/23/12. The 50-day SMA has remained above the 200-day SMA every day since 10/26/11. Support 21.74, 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) fell below the lows of the previous 2 trading days on 3/5/12 but still remains technically neutral. DBA has remained above its 50-day SMA but below its 200-day SMA since 2/14/12, 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) appears to have entered a minor corrective wave immediately after rising above its highs of the previous 9 months on 2/24/12, which was a clear sign of major trend strength. Downside potential of a corrective wave may be limited to previous highs just below 40. USO rose above its 50-day SMA and rose above a 6-week downtrend line on 2/13/12, has remained above its 200-day SMA since 12/20/11, and the 50-day SMA has remained above the 200-day SMA every day since 1/3/12. Support 40.35, 39.96, 38.51, 36.67, 35.73, 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 42.30 and 45.60.
Gold, SPDR Gold Shares ETF (GLD) fell below the lows of the previous 5 weeks on 2/29/12 but 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: 164.00, 160.29, 159.68, 158.01, 156.19, 154.55, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 174.00, 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. The 50-day SMA has remained bearishly below the 200-day SMA every day since 2/22/11.
Silver, iShares Silver Trust ETF (SLV) fell below the lows of the previous 9 trading days on 3/5/12 in what looks like a minor ABC, 3-wave pullback within a larger uptrend. SLV remains above its 50-day SMA but below its 200-day SMA. 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: 36.44, 40.23, 41.49, 42.30, 42.78, 44.71 and 48.35.
Silver/Gold ETFs Ratio (SLV/GLD) fell below the lows of the previous 5 trading days on 3/5/12 in what looks like a minor pullback within a larger uptrend. From 12/28/11 to 3/1/12, SLV/GLD rose above its highs of the previous 5 months in what still could become a more extended recovery following an 8-month collapse. SLV/GLD remains technically neutral, above its 50-day SMA but below its 200-day SMA. Longer term, the 50-day SMA has remained below the 200-day SMA every day since 8/30/11, but the spread is narrowing.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) has turned choppy and corrective since peaking at 51.41 on 2/9/12. Given that “Dr. Copper” is one of the best indicators of investor confidence (or lack thereof) in the global industrial economy, this underperformance may be suggesting rising doubts about prospects for the economy.
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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
0.46% , VIA.O , VIACOM INC. (New)
1.79% , AZO , AUTOZONE
0.44% , MYY , Short 100% MidCap 400, MYY
1.94% , SWY , SAFEWAY
0.22% , PKB , Building & Construction, PKB
0.50% , PIC , Insurance, PIC
1.95% , CSC , COMPUTER SCIENCE
1.64% , DLTR , Dollar Tree Stores Inc
2.09% , DRI , DARDEN REST
1.62% , COST , COSTCO WHOLESAL
3.23% , LEG , LEGGETT & PLATT
0.93% , IBM , IBM
2.16% , PLD , PROLOGIS TRUST
0.65% , PMR , Retail, PMR
0.76% , TYC , TYCO INTL
2.75% , NYT , NY TIMES STK A
0.80% , DIS , WALT DISNEY
3.44% , GCI , GANNETT
1.37% , MRK , MERCK & CO
1.30% , TMK , TORCHMARK
1.68% , EQR , EQUITY RESIDENT BEN INT
1.01% , PSQ , Short 100% QQQ, PSQ
0.89% , MJN , Mead Johnson Nutrition
0.99% , ALL , ALLSTATE
0.48% , BMS , BEMIS
0.75% , PEY , Dividend High Yield Equity PS, PEY
1.98% , AIG , AMER INTL GROUP
0.90% , CBE , COOPER INDS STK A
0.39% , PEJ , Leisure & Entertainment, PEJ
0.24% , DVY , Dividend DJ Select, DVY
0.69% , CMI , CUMMINS
0.57% , CI , CIGNA
0.33% , HOT , STARWOOD HOTELS
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-2.52% , PGJ , China LargeCap Growth G D H USX PS, PGJ
-0.96% , FDV , Value 40 Large Low P/E FT DB, FDV
-5.13% , SVU , SUPERVALU
-4.35% , HMA , HEALTH MGMT STK A
-2.02% , PXN , Nanotech Lux, PXN
-0.76% , KCE , Capital Markets KWB ST, KCE
-5.23% , AMD , ADV MICRO DEV
-3.81% , ISIL , INTERSIL CORP
-2.90% , PSTL , Steel Global PS ETF, PSTL
-0.62% , IXG , Financials Global LargeCap Value, IXG
-3.37% , SIL , Silver Miners Global X, SIL
-3.14% , HAR , Harman International
-4.97% , TER , TERADYNE
-4.73% , X , US STEEL CORP
-3.52% , ATI , ALLEGHENY TECH
-4.70% , CIEN.O , CIENA
-3.75% , LRCX , LAM RESEARCH CORP
-4.75% , KWT , Solar Energy MV, KWT
-2.38% , SOXX , Semiconductor iS IGW, SOXX
-2.47% , THC , TENET HEALTHCARE
-2.31% , PBW , WilderHill Clean Energy PS, PBW
-1.12% , PXQ , Networking, PXQ
-2.08% , XLNX , XILINX
-2.80% , S , SPRINT NEXTEL
-1.50% , ECH , Chile MSCI iS, ECH
-5.98% , HGSI , Human Genome Sciences Inc
-4.32% , NBR , NABORS
-2.55% , CTXS , CITRIX SYSTEMS
-3.76% , FCX , FREEPRT MCMORAN STK B
-1.22% , EZA , South Africa Index, EZA
-1.75% , EWT , Taiwan Index, EWT
-2.20% , AAPL , APPLE COMPUTER
-1.51% , KSU , Kansas City Southern, KSU
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
1.01% REIT VIPERs, VNQ
0.92% REIT Wilshire, RWR
0.88% Realty Cohen & Steers, ICF
0.81% Real Estate US DJ, IYR
0.75% Dividend High Yield Equity PS, PEY
0.53% Microcap Russell, IWC
0.49% Oil, Crude, U.S. Oil Fund, USO
0.48% Homebuilders SPDR, XHB
0.45% Consumer Staples SPDR, XLP
0.41% Bear, Short S&P 500, SH
0.33% Value SmallCap Russell 2000, IWN
0.24% Dividend DJ Select, DVY
0.23% Utilities SPDR, XLU
0.23% Utilities VIPERs, VPU
0.21% Dividend SPDR, SDY
0.19% Oil Fund PowerShares, DBO
0.18% Growth BARRA Small Cap 600, IJT
0.16% Value SmallCap S&P 600 B, IJS
0.11% SmallCap Russell 2000, IWM
0.10% SmallCap S&P 600, IJR
0.09% Bond Muni ATM-Free S&P iS, MUB
0.08% Switzerland Index, EWL
0.04% Bond EmrgMkt JPM iS, EMB
0.02% Bond Treasury Short-Term iS, SHV
0.00% Value LargeCap Dynamic PS, PWV
0.00% Bond, 1-3 Year Treasury, SHY
-0.05% France Index, EWQ
-0.05% Bond Ex-US Treas, BWX
-0.06% Value SmallCap VIPERS, VBR
-0.07% Dividend Appreciation Vipers, VIG
-0.09% Consumer Discretionary SPDR, XLY
-0.10% DIAMONDS (DJIA), DIA
-0.14% Small Cap VIPERs, VB
-0.14% Bond, Aggregate, AGG
-0.15% Italy Index, EWI
-0.15% Growth SmallCap R 2000, IWO
-0.18% Bond, Corp, LQD
-0.20% Bond, 10 Year Treasury, IEF
-0.21% Global 100, IOO
-0.22% Health Care SPDR, XLV
-0.22% Financial Preferred, PGF
-0.22% Telecom DJ US, IYZ
-0.25% Bond, High-Yield Junk, JNK
-0.25% Belgium Index, EWK
-0.25% EMU Europe Index, EZU
-0.26% Value EAFE MSCI, EFV
-0.27% Value VIPERs, VTV
-0.27% Financial DJ US, IYF
-0.29% Financials VIPERs, VFH
-0.32% Value MidCap Russell, IWS
-0.33% Preferred Stock iS, PFF
-0.34% Malaysia Index, EWM
-0.35% Value MidCap S&P 400 B, IJJ
-0.35% Value 1000 Russell, IWD
-0.35% Small Cap EAFE MSCI iS, SCZ
-0.36% MidCap S&P 400 SPDRs, MDY
-0.37% Growth S&P 500/BARRA, IVW
-0.37% Financial SPDR, XLF
-0.37% Netherlands Index, EWN
-0.38% LargeCap VIPERs, VV
-0.38% LargeCap Blend S&P 100, OEF
-0.39% European VIPERs, VGK
-0.39% LargeCap Blend Russell 3000, IWV
-0.40% United Kingdom Index, EWU
-0.40% Europe 350 S&P Index, IEV
-0.40% Growth SmallCap VIPERs, VBK
-0.41% LargeCap 1000 R, IWB
-0.41% S&P 500 SPDRs LargeCap Blend, SPY
-0.41% S&P 500 iS LargeCap Blend, IVV
-0.41% Growth MidCap 400 B, IJK
-0.41% Gold Shares S.T., GLD
-0.43% MidCap S&P 400 iS, IJH
-0.44% Value S&P 500 B, IVE
-0.45% Blend Total Market VIPERs, VTI
-0.46% Bond, TIPS, TIP
-0.47% Commodity Tracking, DBC
-0.48% Germany Index, EWG
-0.48% Water Resources, PHO
-0.49% Energy VIPERs, VDE
-0.49% Energy DJ, IYE
-0.52% Dividend International, PID
-0.53% EAFE Index, EFA
-0.53% Growth EAFE MSCI, EFG
-0.56% Bond, High-Yield Corporate, HYG
-0.59% Growth VIPERs, VUG
-0.60% MidCap Russell, IWR
-0.60% Japan Index, EWJ
-0.63% LargeCap Blend S&P=Weight R, RSP
-0.64% Growth 1000 Russell, IWF
-0.64% Energy SPDR, XLE
-0.64% Pacific VIPERs, VPL
-0.66% Frontier Markets Guggenheim , FRN
-0.67% Energy Global, IXC
-0.68% Agriculture DB PS, DBA
-0.69% Transportation Av DJ, IYT
-0.70% Industrial SPDR, XLI
-0.73% Global ex US ACWI iS, ACWX
-0.76% Capital Markets KWB ST, KCE
-0.79% Bond, 20+ Years Treasury, TLT
-0.83% Spain Index, EWP
-0.84% Growth MidCap Russell, IWP
-0.86% Technology SPDR, XLK
-0.89% Australia Index, EWA
-0.89% Sweden Index, EWD
-0.90% Austria Index, EWO
-0.92% Financial Services DJ, IYG
-0.94% Mexico Index, EWW
-1.03% Info Tech VIPERs, VGT
-1.03% QQQ Nasdaq 100 Trust, QQQ
-1.06% Thailand MSCI iS, THD
-1.08% Biotech SPDR, XBI
-1.08% Pacific ex-Japan, EPP
-1.11% Technology DJ US, IYW
-1.22% South Africa Index, EZA
-1.25% Energy & Nat Res iS GS, IGE
-1.30% South Korea Index, EWY
-1.32% Hong Kong Index, EWH
-1.35% Networking, IGN
-1.45% Canada Index, EWC
-1.49% Emerging VIPERs, VWO
-1.50% Chile MSCI iS, ECH
-1.58% Russia MV, RSX
-1.58% Latin Am 40, ILF
-1.61% Materials SPDR, XLB
-1.62% Singapore Index, EWS
-1.62% Indonesia MV, IDX
-1.72% Emerging Markets, EEM
-1.75% Taiwan Index, EWT
-1.81% Emerging 50 BLDRS, ADRE
-1.86% India PS, PIN
-1.86% Brazil Index, EWZ
-2.12% Basic Materials DJ US, IYM
-2.14% Turkey MSCI iS, TUR
-2.16% Silver Trust iS, SLV
-2.31% WilderHill Clean Energy PS, PBW
-2.38% Semiconductor iS IGW, SOXX
-2.45% India Earnings WTree, EPI
-2.52% China LargeCap Growth G D H USX PS, PGJ
-2.73% China 25 iS, FXI
-2.86% Semiconductor SPDR, XSD
-2.88% Metals & Mining SPDR, XME
