S&P 500 Composite (SPX, 1,357.16) rose 10.87 points or 0.81% on Tuesday. Trading volume rose 12% to 3.8 billion shares on the NYSE, but that was still 18% below the median 4.6 billion for the year, suggesting still weak participation and lack of confidence.
SPX recovered a fraction of last week’s losses this week, which is normal but not very significant. The short-term downtrend is likely to resume.
Based on the daily SPX, momentum remained bearish. The SPX has recovered 73% of last week’s loss, based on intraday highs and lows. Momentum indicators (such as RSI and Stochastics) have turned up but have not recovered such large proportions of their losses. MACD remains below its signal line. Momentum indicators gave bearish divergence warnings in April; that is, they never made it back to their February peaks when the price indexes rose to higher highs. These bearish divergence warnings have not been erased.
Over the past week, stock market leadership has been demonstrating caution. The sectors up the most are defensive Utilities SPDR, XLU +1.38%, and Health Care SPDR, XLV +1.15%. In contrast, the sectors down the most are more cyclical and dependent on the strength of the economy: Energy SPDR, XLE -1.23%, and Financial SPDR, XLF -0.98%. Defensive stocks have become the strongest stocks, suggesting growing investor caution.
I previously pointed out that the major stock price indexes showed signs of exhaustion and reversal. Sentiment indicators have been suggesting for several weeks that the stock market may be over loved and overbought. And in view of last week’s dramatic collapse of commodity prices, the so-called “inflation trade” (where speculators buy stocks and sell fixed-income instruments based on expectations of rising price levels) appears to be unwinding. In addition, the U.S. stock market has entered its worst performing season, May through October.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows on 5/10/11, again reconfirming its preexisting bearish major trend
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) fell further below 15-month lows on 5/10/11, again reconfirming its bearish trend. The Ratio crossed below the 50-day SMA on 4/15/11, remains below the 200-day SMA, and the 50-day SMA remains below the 200-day SMA.
The CRB Index of commodity prices, Crude Oil, Gold, Silver, and Copper recovered fractions of last week’s losses this week, which is normal but not very significant. These commodities made important trend reversals last week and now appear to be in significant price downtrends. The resulting dampening of inflation expectations may impact intermarket relationships, helping bond prices but hurting stock prices.
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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
1.58% , UTH , Utilities H, UTH
1.17% , PBJ , Food & Beverage, PBJ
1.11% , PWO , OTC Dynamic PS, PWO
4.69% , UIS , UNISYS
0.64% , IYK , Consumer Non-Cyclical, IYK
5.93% , LVLT , LEVEL 3 COMMUNICATIONS
0.59% , BDH , Broadband H, BDH
1.07% , PWC , LargeCap Blend Dynamic PS, PWC
1.15% , JKH , MidCap Growth iS M, JKH
1.98% , THD , Thailand MSCI iS, THD
2.98% , FE , FIRSTENERGY
1.60% , PEJ , Leisure & Entertainment, PEJ
1.34% , PSJ , Software, PSJ
2.37% , IFF , INTL FLAV & FRAG
1.28% , JKK , Growth SmallCap iS M, JKK
3.25% , NI , NISOURCE
3.68% , CIEN.O , CIENA
4.68% , URBN , Urban Outfitters Inc.
1.63% , VIA , VIACOM INC. (New)
1.57% , IDX , Indonesia MV, IDX
4.86% , LIZ , LIZ CLAIRBORNE
1.52% , TIN , TEMPLE INLAND
0.95% , PWP , Value MidCap Dynamic PS, PWP
2.42% , RL , Polo Ralph Lauren
3.48% , WYNN , Wynn Resorts L
3.38% , CBS , CBS CORP.
1.17% , MTK , Technology MS sT, MTK
2.48% , SNV , SYNOVUS
2.14% , EXC , EXELON CORP
1.05% , IAH , Internet Architecture H, IAH
2.45% , EBAY , EBAY
1.20% , IGN , Networking, IGN
0.90% , XLK , Technology SPDR, XLK
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-8.95% , BSX , BOSTON SCIENT
-5.20% , FMCN , Focus Media, FMCN
-1.59% , JNY , JONES APPAREL
-2.05% , ADM , ARCHER DANIELS
-2.87% , DYN , DYNEGY
-0.62% , MSFT , MICROSOFT
-0.41% , TLH , Bond 10-20 Year US Treas, TLH
-1.27% , GCI , GANNETT
-1.44% , EMR , EMERSON ELECTRIC
-1.05% , MYY , Short 100% MidCap 400, MYY
-1.66% , GNW , GENWORTH FINANCIAL
-1.63% , TUR , Turkey MSCI iS, TUR
-0.41% , LQD , Bond, Corp, LQD
-0.64% , FRX , FOREST LABS STK A
-0.87% , PSQ , Short 100% QQQ, PSQ
-0.78% , KBH , KB HOME
-0.53% , DOG , Short 100% Dow 30, DOG
-0.27% , TIP , Bond, TIPS, TIP
-0.72% , TLT , Bond, 20+ Years Treasury, TLT
-1.61% , QID , Short 200% QQQ PS, QID
-0.25% , JCI , JOHNSON CONTROLS
-0.68% , AES , AES
-0.18% , GVI , Bond Interm U.S. Gov, GVI
-0.29% , MMM , 3M
-0.60% , LMT , LOCKHEED MARTIN
-0.07% , EWL , Switzerland Index, EWL
-0.48% , IEF , Bond, 10 Year Treasury, IEF
-2.75% , CLF , CLIFFS NATURAL RESOURCES, CLF
-0.38% , RTN , RAYTHEON
-0.11% , GD , GENERAL DYNAMICS
-0.35% , HES , AMERADA HESS
-0.11% , PXN , Nanotech Lux, PXN
-0.10% , SHY , Bond, 1-3 Year Treasury, SHY
9 major U.S. stock sectors ranked in order of long-term relative strength:
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) fell steeply since 4/29/11 but remains neutral based on moving average relationships. Absolute price has been falling steeply since 5/2/11 but remains neutral. Support 72.85, 68.73, 67.49, 65.25, 65.03, 60.96, 60.21, 57.70, 55.68, 53.22, 50.33, 48.56, 46.16, and 43.66. Resistance 80.97, 83.27, and 91.42.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) has been consolidating gains since 4/4/11 and remains neutral. Absolute price rose above previous 2-year highs on 4/29/11. Support 37.39, 36.24, 35.08, 35.03, 31.82, 31.58, 30.79, 30.51, 30.32, 29.77, and 27.67. Resistance 39.0 and 39.97.
Consumer Discretionary (XLY) Neutral, Market Weight. The Relative Strength Ratio (XLY/SPY) has been consolidating previous gains since 11/26/10. Absolute price rose above 3-year highs on 4/28/11, which is bullish. Support 38.90, 38.46, 36.61, 36.13, 35.32, 35.02, 34.78, 33.94, 33.11, 32.66, 31.70, 29.80, 28.64, 28.21, and 26.62. Resistance 40.72.
Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) remains neutral but appears to be heading toward a possible bullish signal in weeks ahead, based on moving average relationships, with the 50-day SMA of the RS Ratio rising toward the 200-day SMA. Absolute price rose above 3-year highs on 5/10/11 and remains bullish. Support 32.57, 31.43, 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 36.67 and 37.89.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) ) appears to be heading toward a possible bearish signal in weeks ahead, based on moving average relationships, with the 50-day SMA of the RS Ratio sliding toward the 200-day SMA. The RS Ratio has been correcting since 4/5/11 and remains neutral. Absolute price has been consolidating gains since 4/6/11. Support 38.44, 38.06, 36.44, 34.20, 33.70, 32.36, 29.88, 29.43, and 27.67. Resistance 41.28, 43.04, 45.21, 45.21, and 46.54.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) remains neutral, based on moving average relationships, with the rising 50-day SMA of the RS Ratio still below the falling 200-day SMA. Absolute price remains bullish. Support 29.64, 28.71, 28.22, 28.04, 27.76, 27.63, 27.46, 26.34, 25.30, and 24.95. Resistance: none.
Technology (XLK) Bearish, Under Weight. The Relative Strength Ratio (XLK/SPY) fell below 13-month lows on 4/5/11. The Ratio gave a clear bearish signal on 3/22/11 when the 50-day SMA of the RS Ratio crossed below the 200-day SMA. Absolute price of XLK peaked on 2/18/11 and remains neutral. Support 25.20, 24.87, 23.87, 23.74, 23.64, 23.56, 22.68, 22.53, 21.60, 20.01, and 19.51. Resistance 27.09, 27.43, 27.63, and 28.60.
Utilities (XLU) Neutral, Market Weight. The Relative Strength Ratio (XLU/SPY) remains neutral, based on moving average relationships, with the 50-day SMA of the RS Ratio below the 200-day SMA. Absolute price rose further above 2-year highs on 5/10/11 and remains bullish. Support 31.35, 31.20, 30.74, 30.53, 29.66, 27.91, 27.44, and 25.76. Resistance 34.89 and 36.24.
Financial (XLF) Bearish, Under Weight. The Relative Strength Ratio (XLF/SPY) fell below 2-year lows on 5/9/11 and remains bearish. Absolute price fell below 3-week lows on 4/18/11 and remains neutral. Support 15.79, 15.39, 15.08, 14.36, 14.25, 14.20, 13.29, and 13.08. Resistance 16.75, 16.85, 17.20, and 17.87.
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Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) gave a bearish signal on 5/3/11 by crossing below its 50-day SMA. The Ratio remains below the 200-day SMA, and the 50-day SMA remains below the 200-day SMA.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) remains neutral, with the 50-day SMA below the 200-day SMA.
NASDAQ Composite/S&P 500 Relative Strength Ratio has been consolidating previous gains since 1/18/11 and remains neutral. Absolute price rose above 10-year highs on 4/28/11, reconfirming a bullish major price trend.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows on 5/10/11, again reconfirming its preexisting bearish major trend.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) has been correcting and consolidating major gains since 4/5/11 and remains neutral. The Ratio rose above all-time highs on 4/5/11.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) has been correcting and consolidating major gains since 4/5/11 and remains neutral. The Ratio rose above all-time highs on 4/5/11.
Crude Oil nearest futures contract price recovered a modest fraction of last week’s losses this week, which is normal but not very significant. Oil fell below the lows of the previous 10 weeks on 5/6/11, again confirming a sharp short-term price pullback. Support 94.63, 87.09, 83.85, 83.55, 80.28, 80.06, 79.84, 79.25, 78.86, 73.52, 72.63, 70.76, 70.35, 69.51, 68.59, 67.15, 65.05, and 64.24. Resistance 114.83, 120.42, 130.0, and 147.27.
Gold nearest futures contract price recovered a normal fraction of last week’s losses this week, which is normal but not very significant. Gold fell below the lows of the previous 3 weeks on 5/5/11, again confirming a short-term price pullback. On 5/2/11, I wrote, ” Gold rose above all-time highs on 5/2/11, again reconfirming its major uptrend. Gold looks overextended, however, and could be due for a downside correction.” That correction appears to have started. Support: 1462.5, 1445.0, 1411.5, 1380.7, 1419.5, 1351.4, 1309.1, 1307.7, 1297.0, 1274.8, 1270.5, 1232.4, 1210.9, 1191.5, and 1155.6. Resistance: 1577.4.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) fell further below 15-month lows on 5/10/11, again reconfirming its bearish trend. The Ratio crossed below the 50-day SMA on 4/15/11, remains below the 200-day SMA, and the 50-day SMA remains below the 200-day SMA.
Silver nearest futures contract price recovered a relatively small fraction of last week’s losses this week, which is normal but not very significant. Silver fell below the lows of the previous 7 weeks on 5/6/11, again reconfirming a short-term price downtrend, which appears to be dampening inflation expectations. Support 33.035, 31.695, 31.61, 30.265, 29.635, 26.30, 24.98, and 22.84. Resistance: 49.845 and 50.35.
Silver/Gold Ratio broke sharply below the lows of the previous 10 weeks on 5/5/11, reconfirming the remarkable downtrend since the peak on 4/28/11.
Copper nearest futures contract price recovered a relatively small fraction of last week’s losses this week, which is normal but not very significant. Copper fell below the lows of the previous 6 months on 5/6/11. Copper appears to be in an intermediate-term correction since peaking at 4.6575 on 2/15/11. Strength in Copper suggests confidence in the economic outlook, while weakness suggests doubts. Support 3.6065, 3.3930, 3.1775, 2.9285, 2.8555, 2.8445, and 2.72. Resistance: 4.533, 4.554, 4.6495, and 4.6575.
U.S. Treasury Bond nearest futures contract price ended moderately lower on 5/10/11. The Bond rose above the highs of the previous 6-weeks on 5/6/11, again reconfirming that the short-term trend was still up. In addition, the Bond may have been building a 5-month, intermediate-term bullish base since the low of 12/15/10. In its favor, nearly everyone has been talking bearish on Bonds this year, so the Bond could be oversold. Support 120.20, 119.15, 117.28, 117.04, 116.26, 115.15, 114.06, 113.04, and 112.15. Resistance 125.06, 128.00 129.14, 129.27, 132.26, 133.00, 135.12, 135.19, 136.31, 137.31, and 142.31.
Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) has been stuck in a neutral trading range most of the time since JNK price peaked at 41.32 on 11/4/10.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) fell steeply in May, confirming a short-term downtrend. TIP/IEF entered a downside correction phase after rising above 2-year highs on 4/8/11. The Ratio had been in a rising trend from 8/24/10 to 4/8/11, reflecting fixed-income investors’ preference for inflation-protected TIPs over the unprotected 7-10 Year U.S. Treasury Note ETF (IEF).
The U.S. dollar nearest futures contract price eased modestly lower this week after rising above the highs of the previous 2 weeks on 5/6/11 and thereby confirming a long-overdue oversold bounce. This bounce may not be over, but any rally may be counter trend because the larger trend is bearish. USD fell below the lows of the previous 16 months on 5/4/11, again reconfirming a long-term, major downtrend. Support 72.86 and 70.80. Resistance 76.055, 76.87, 77.675, 78.98, 79.34, 81.635, 81.935, 82.02, 83.64, 84.73, 85.36, 86.71, 88.80, 89.22, 89.71, and 92.53.
Advisory Service Sentiment: There were 57.3% Bulls versus 15.7% Bears as of 4/6/11, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear Ratio soared to 3.65, up from 2.23 the previous week. The Ratio rose its highest level in the 8 years since the 20-year high of 3.74 set on 6/18/03. Following that 2003 peak, the stock market turned sideways/choppy for 2 months and sentiment reverted toward the mean. The Ratio’s 20-year range is 0.41 to 3.74, the median is 1.56, and the mean is 1.63. According to Humphrey B. Neill, The Art of Contrary Thinking, when everybody thinks alike, everyone is likely to be wrong.
VIX Fear Index fell below its 3-year range on 4/20/11, hitting 14.30 intraday, and again confirming a preexisting trend toward bullish complacency. This follows a brief spike up to an intraday peak of 31.28 on 3/16/11. Fear was short-lived. 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 Dow Theory reconfirmed a Primary Tide Bull Market as of 4/28/11, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above closing price highs of the previous 2-years. The Dow Theory originally 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.
S&P 500 Composite (SPX, 1,357.16) rose 10.87 points or 0.81% on Tuesday. Trading volume rose 12% to 3.8 billion shares on the NYSE, but that was still 18% below the median 4.6 billion for the year, suggesting still weak participation and lack of confidence.
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
1370.50, high of 5/2/11
S&P 500 Cash Index Potential Support
1294.70, low of 4/18/11
1249.05, low of 3/16/11
1246.73, high of 12/13/10
1238.81, Fibonacci 78.6% of 1,576.09 high
1235.05, high of 12/7/10
1232.85, low of 12/16/10
1228.74, Fibonacci 61.8% of 2007-2009 range
1227.08, high of 11/5/10
1173.00, low of 11/16/10
1171.70, low of 10/27/10
1166.74, low of 10/20/10
1159.71, low of 10/19/10
1,151.41, low of 10/7/10
1,131.87, low of 10/4/10
1122.79, low of 9/23/2010
1114.63, low of 9/15/2010
1110.88, low of 9/10/2010
1091.15, low of 9/7/2010
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
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
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
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
One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
1.98% Thailand MSCI iS, THD
1.93% Value SmallCap S&P 600 B, IJS
1.86% Austria Index, EWO
1.78% Microcap Russell, IWC
1.72% Growth BARRA Small Cap 600, IJT
1.72% SmallCap S&P 600, IJR
1.68% Sweden Index, EWD
1.66% Water Resources, PHO
1.65% Telecom DJ US, IYZ
1.64% Realty Cohen & Steers, ICF
1.64% REIT Wilshire, RWR
1.61% Value SmallCap Russell 2000, IWN
1.60% Italy Index, EWI
1.58% REIT VIPERs, VNQ
1.57% Indonesia MV, IDX
1.56% France Index, EWQ
1.53% SmallCap Russell 2000, IWM
1.51% EMU Europe Index, EZU
1.50% Growth SmallCap R 2000, IWO
1.48% Netherlands Index, EWN
1.46% Silver Trust iS, SLV
1.44% Utilities SPDR, XLU
1.42% Germany Index, EWG
1.39% Real Estate US DJ, IYR
1.38% Value SmallCap VIPERS, VBR
1.37% Chile MSCI iS, ECH
1.35% Utilities VIPERs, VPU
1.31% Small Cap VIPERs, VB
1.29% Consumer Discretionary SPDR, XLY
1.28% Singapore Index, EWS
1.27% Mexico Index, EWW
1.25% United Kingdom Index, EWU
1.24% Growth SmallCap VIPERs, VBK
1.20% Growth MidCap 400 B, IJK
1.20% Networking, IGN
1.20% Transportation Av DJ, IYT
1.19% Small Cap EAFE MSCI iS, SCZ
1.18% European VIPERs, VGK
1.18% Emerging Markets, EEM
1.14% Belgium Index, EWK
1.14% Value EAFE MSCI, EFV
1.14% Growth MidCap Russell, IWP
1.13% Europe 350 S&P Index, IEV
1.13% Capital Markets KWB ST, KCE
1.12% Homebuilders SPDR, XHB
1.11% LargeCap Blend S&P=Weight R, RSP
1.09% Dividend International, PID
1.04% MidCap S&P 400 SPDRs, MDY
1.02% Dividend DJ Select, DVY
1.02% MidCap Russell, IWR
1.02% Dividend High Yield Equity PS, PEY
1.01% Value MidCap Russell, IWS
0.99% Hong Kong Index, EWH
0.99% Financials VIPERs, VFH
0.98% Spain Index, EWP
0.98% MidCap S&P 400 iS, IJH
0.98% China 25 iS, FXI
0.96% Value MidCap S&P 400 B, IJJ
0.96% Financial DJ US, IYF
0.95% EAFE Index, EFA
0.94% Latin Am 40, ILF
0.94% South Korea Index, EWY
0.93% Value 1000 Russell, IWD
0.93% Financial SPDR, XLF
0.93% Brazil Index, EWZ
0.92% Industrial SPDR, XLI
0.91% Commodity Tracking, DBC
0.90% Technology SPDR, XLK
0.89% LargeCap Blend Russell 3000, IWV
0.89% LargeCap VIPERs, VV
0.89% Blend Total Market VIPERs, VTI
0.89% Info Tech VIPERs, VGT
0.88% LargeCap 1000 R, IWB
0.88% South Africa Index, EZA
0.88% Emerging 50 BLDRS, ADRE
0.87% Global 100, IOO
0.86% Value S&P 500 B, IVE
0.86% Emerging VIPERs, VWO
0.86% S&P 500 iS LargeCap Blend, IVV
0.86% Financial Services DJ, IYG
0.86% Technology DJ US, IYW
0.86% Growth VIPERs, VUG
0.85% S&P 500 SPDRs LargeCap Blend, SPY
0.85% QQQ Nasdaq 100 Trust, QQQ
0.85% Materials SPDR, XLB
0.85% Pacific ex-Japan, EPP
0.84% Growth 1000 Russell, IWF
0.84% Growth S&P 500/BARRA, IVW
0.83% Value VIPERs, VTV
0.81% Growth EAFE MSCI, EFG
0.78% Russia MV, RSX
0.77% Energy Global, IXC
0.76% Dividend SPDR, SDY
0.75% Taiwan Index, EWT
0.75% Frontier Markets Guggenheim , FRN
0.75% Malaysia Index, EWM
0.73% Semiconductor SPDR, XSD
0.72% LargeCap Blend S&P 100, OEF
0.69% Global ex US ACWI iS, ACWX
0.66% Pacific VIPERs, VPL
0.65% Dividend Appreciation Vipers, VIG
0.62% Health Care SPDR, XLV
0.61% Basic Materials DJ US, IYM
0.60% Consumer Staples SPDR, XLP
0.60% Biotech SPDR, XBI
0.58% DIAMONDS (DJIA), DIA
0.58% Energy VIPERs, VDE
0.51% Australia Index, EWA
0.51% Oil, Crude, U.S. Oil Fund, USO
0.49% Value LargeCap Dynamic PS, PWV
0.48% Semiconductor iS IGW, SOXX
0.47% Japan Index, EWJ
0.47% Energy SPDR, XLE
0.46% Energy DJ, IYE
0.46% Agriculture DB PS, DBA
0.43% Canada Index, EWC
0.41% Financial Preferred, PGF
0.41% Energy & Nat Res iS GS, IGE
0.39% India PS, PIN
0.35% Gold Shares S.T., GLD
0.32% Oil Fund PowerShares, DBO
0.30% WilderHill Clean Energy PS, PBW
0.25% Preferred Stock iS, PFF
0.25% China LargeCap Growth G D H USX PS, PGJ
0.24% Bond Ex-US Treas, BWX
0.22% Bond, High-Yield Corporate, HYG
0.21% India Earnings WTree, EPI
0.17% Bond, High-Yield Junk, JNK
0.03% Bond Treasury Short-Term iS, SHV
0.01% Bond Muni ATM-Free S&P iS, MUB
0.00% Metals & Mining SPDR, XME
-0.06% Bond EmrgMkt JPM iS, EMB
-0.07% Switzerland Index, EWL
-0.10% Bond, 1-3 Year Treasury, SHY
-0.18% Bond, Aggregate, AGG
-0.27% Bond, TIPS, TIP
-0.41% Bond, Corp, LQD
-0.48% Bond, 10 Year Treasury, IEF
-0.70% Silver Miners Global X, SIL
-0.72% Bond, 20+ Years Treasury, TLT
-1.63% Turkey MSCI iS, TUR
