The S&P 500 fell 1.61% on Friday, its biggest daily loss since 2/4/10. The drop took away all the gains of the previous 4 trading days and left the S&P with a loss for the week.
On Friday morning, the SEC charged Goldman Sachs with fraud for knowingly selling toxic mortgage products to its clients, who lost a billion. GS stock fell 12.79%.
The Financial Stock Sector ETF (XLF) fell 3.65%, as investors feared other financial firms also might be charged. The XLF Relative Strength Ratio (XLF/SPY) and absolute price both broke down sharply below 2-week lows. XLF remains neutral.
Consumer Discretionary Stock Sector Relative Strength Ratio (XLY/SPY) rose above 5-year highs and remains bullish.
Technology Stock Sector Relative Strength Ratio (XLI/SPY) rose above 2-month highs but remains neutral.
Materials Stock Sector Relative Strength Ratio (XLB/SPY) fell below 2-week lows and remains bearish.
Energy Stock Sector Relative Strength Ratio (XLE/SPY) broke down below 2-week lows and remains bearish.
Health Care Stock Sector absolute price fell below 6-week lows on 4/16/10 and turned neutral relative to 50- and 200-day averages. The Relative Strength Ratio (XLV/SPY) remains bearish.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) has been underperforming since 10/14/09. EEM/SPY trend turned bearish on 4/16/10, according to strict moving average analysis, while absolute price of EEM fell below 2-week lows.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose above 9-year highs and remains bullish.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) rose above 17-month highs and remains bullish.
The S&P MidCap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above 15-year highs and remains bullish.
U.S. Treasury Inflation Protected Bond absolute price rose to a 4-week high and remains bullish.
The Art of Contrary Thinking: the various surveys of investor sentiment, Call/Put Volume Ratios, and implied option volatility all have shown bullish complacency in recent days. These might be taken as signs to be alert for a shakeout to the downside.
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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
6.23% , MBI , MBIA
2.80% , BSX , BOSTON SCIENT
3.27% , SDS , Short 200% S&P 500 PS, SDS
2.45% , MZZ , Short 200% MidCap 400 PS, MZZ
2.28% , DXD , Short 200% Dow 30 PS, DXD
1.59% , SH , Short 100% S&P 500, SH
2.07% , WY , WEYERHAEUSER
1.12% , DOG , Short 100% Dow 30, DOG
1.32% , ABC , AMERISOURCEBERGN
2.13% , QID , Short 200% QQQ PS, QID
1.12% , PSQ , Short 100% QQQ, PSQ
1.65% , GENZ , GENZYME
1.07% , MYY , Short 100% MidCap 400, MYY
1.06% , ININ , Interactive Intelligence ININ
0.66% , PDCO , Patterson Dental Company
1.31% , KO , COCA COLA
0.73% , TLT , Bond, 20+ Years Treasury, TLT
0.93% , K , KELLOGG
1.03% , KR , KROGER
0.57% , KLAC , KLA TENCOR
0.33% , TWX , TIME WARNER INC
0.92% , APOL , APOLLO GROUP
0.78% , LRCX , LAM RESEARCH CORP
0.60% , IEF , Bond, 10 Year Treasury, IEF
0.22% , HNZ , HJ HEINZ
0.67% , HRB , H&R BLOCK
0.47% , DLTR , Dollar Tree Stores Inc
0.40% , WPI , WATSON PHARM
0.34% , INTU , INTUIT
0.48% , CLX , CLOROX
0.18% , LPX , LOUISIANA PAC
0.18% , BBH , Biotech H, BBH
0.22% , ACV , Alberto-Culver Co.
0.24% , LQD , Bond, Corp, LQD
0.13% , AMGN , AMGEN
0.04% , SHV , Bond Treasury Short-Term iS, SHV
0.14% , AMAT , APPLIED MATERIAL
0.84% , GILD , Gilead Sciences Inc
0.05% , EMC , EMC
0.23% , TIP , Bond, TIPS, TIP
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-12.79% , GS , GOLDMAN SACHS
-7.55% , MCO , MOODYS CORP
-0.92% , PWO , OTC Dynamic PS, PWO
-5.57% , MS , MORGAN STANLEY
-8.49% , FHN , FIRST TENNESSEE
-3.27% , KCE , Capital Markets KWB ST, KCE
-3.12% , RKH , Bank Regional H, RKH
-3.65% , XLF , Financial SPDR, XLF
-3.37% , IYF , Financial DJ US, IYF
-1.72% , IOO , Global 100, IOO
-3.99% , IYG , Financial Services DJ, IYG
-4.90% , MHP , MCGRAW HILL
-6.63% , SLM , SLM CORP
-1.81% , JKG , MidCap Blend Core iS M, JKG
-5.48% , THD , Thailand MSCI iS, THD
-3.47% , KWT , Solar Energy MV, KWT
-5.49% , BAC , BANK OF AMERICA
-4.73% , JPM , J P MORGAN CHASE
-3.13% , SSO , Ultra S&P500 Double, SSO
-4.70% , FITB , FIFTH THIRD BANC
-0.69% , IYK , Consumer Non-Cyclical, IYK
-2.93% , EEM , Emerging Markets, EEM
-2.32% , DDM , Ultra Dow30 Double, DDM
-1.04% , EWK , Belgium Index, EWK
-7.59% , GOOG , Google
-1.58% , FPX , IPOs, First Tr IPOX-100, FPX
-3.32% , RSX , Russia MV, RSX
-1.46% , TMW , Wilshire 5000 ST TM, TMW
-5.27% , NVDA , NVIDIA
-3.65% , SLV , Silver Trust iS, SLV
-1.88% , JKF , Value LargeCap iS M, JKF
-4.33% , STI , SUNTRUST BANKS
-4.11% , UIS , UNISYS
-3.62% , FXI , China 25 iS, FXI
-5.19% , MI , MARSHAL & ILSLEY
-2.51% , MVV , Ultra MidCap400 Double, MVV
-2.65% , EWW , Mexico Index, EWW
-1.62% , XLI , Industrial SPDR, XLI
-1.07% , PZJ , SmallCap PS Zacks, PZJ
-2.19% , MTB , M&T BANK
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 above 5-year highs on 4/16/10 and remains bullish. Absolute price of XLY closed above 2-year highs on 4/15/10 and remains bullish. Support 33.87, 33.15, 31.94, 31.66, 30.99, 29.90, 29.25, 28.66, 28.21 and 26.62. Resistance 35.14 and 38.25.
Industrial (XLI) Bullish, Overweight. The Relative Strength Ratio (XLI/SPY) rose above 16-month highs on 4/15/10 and remains bullish. Absolute price of XLI moved above 17-month highs on 4/15/10 and remains bullish. Support 31.27, 29.79, 29.60, and 28.15. Resistance 34.24, 34.50, and 35.00.
Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) rose above 2-month highs on 4/16/10. Absolute price moved up to a new 19-month high on 4/15/10 and remains bullish. Support 23.42, 23.07, 22.90, 22.66, 22.52, 21.30, 20.71, 20.46 and 20.09. Resistance 24.68 and 25.69.
Financial (XLF) Neutral, Market Weight. The Relative Strength Ratio (XLF/SPY) and absolute price both broke sharply below 2-week lows on 4/16/10. XLF remains neutral. Support 15.52, 15.37, and 15.12. Resistance 17.12, 17.16, and 17.87.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) fell further below 2-week lows on 4/16/10. XLB/SPY remains bearish. Absolute price of XLB also fell below 2-week lows on 4/16/10. Support 33.40, 32.85, and 32.58. Resistance 35.16, 35.38 and 37.10.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) broke down below 19-month lows on 4/15/10 and remains bearish. Absolute price of XLP stalled since its high on 4/5/10 but remains bullish. Support 27.76, 27.23, 26.82, 26.49, 26.04, 25.93 and 25.71. Resistance 28.75, 29.29 and 30.29.
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) broke down below 2-week lows on 4/16/10. XLE/SPY fell below 17-month lows on 3/25/10. XLE/SPY remains bearish. Absolute price of XLE broke out above 3-month highs on 4/12/10 but has stalled since. Support 58.27, 54.72, 52.67 and 51.34. Resistance 60.54, 60.87, and 62.73.
Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) fell below 18-month lows on 4/15/10 but still remains technically neutral because the 50-day is still above the 200-day simple moving average. Absolute price of XLV fell below 6-week lows on 4/16/10 and turned neutral relative to 50- and 200-day averages. Support 31.46, 31.00, 30.27, 30.65 and 29.55. Resistance 32.18, 32.42, 32.69, 33.16, 33.37 and 33.74.
Utilities (XLU) Neutral, Market Weight. The Relative Strength Ratio (XLU/SPY) fell below 3-year lows on 4/15/10 and remains bearish. Absolute price of XLU has been neutral most of the time since the peak on 12/14/09. Support 29.30, 28.45, and 28.10. Resistance 30.40, 30.50, 31.30, 31.64 and 32.08.
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Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) has been underperforming since 10/14/09. EEM/SPY trend turned bearish on 4/16/10, according to strict moving average analysis. Absolute price of EEM fell below 2-week lows on 4/16/10.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) has been bearish since peaking on 9/9/09. In contrast, absolute price of EFA rose above its highs of the previous 18 months on 4/14/10 and remains bullish. With RS and price trends in conflict, stand aside.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose above 9-year highs on 4/16/10 and remains bullish. Absolute price of the NASDAQ closed above 18-month highs on 4/15/10 and remains bullish.
Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) fell to a 5-month low on 4/14/10. IWF/IWD remains below both 50- and 200-day simple moving averages. In contrast, absolute price of IWF rose above 18-month highs on 4/15/10 and remains bullish. When relative strength and absolute price trends are in conflict, it may be best to stand aside.
Russell 1000 Value ETF Relative Strength Ratio (IWD/SPY) rose above 6-month highs on 4/14/10 and is bullish. Absolute price of IWD rose above 17-month highs on 4/14/10 and is bullish.
The S&P 500 Equally Weighted ETF Relative Strength Ratio (RSP/SPY) rose above previous 6-year highs on 4/14/10 and remains bullish. Absolute price of RSP rose above 18-month highs on 4/15/10 and remains bullish.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) broke down below the lows of the previous 21 months on 4/6/10. OEX/SPX remains bearish below its falling 50- and 200-day simple moving averages, and the 50 is below the 200. Conflicting with this bearish Relative Strength trend, absolute price of OEX remains bullish relative to its moving averages.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) rose above 17-month highs on 4/16/10. Absolute price of IWM rose further above 17-month highs on 4/15/10. Both remain in bullish position relative to key moving averages.
The S&P MidCap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above 15-year highs on 4/16/10 and remains bullish. Absolute price of MDY rose above 17-month highs on 4/14/10 and remains bullish.
Crude Oil nearest futures contract price appears to have entered a correction since peaking at 87.09 on 4/6/10. Minor corrections are normal. Longer term, Oil remains bullish. Support 78.86, 77.05, 76.71, 72.60, 69.50, 68.59 and 65.05. Resistance 90.51, 98.65, and 102.84.
Gold nearest futures contract price appears to have entered a correction since peaking at 1170.7 on 4/12/10. Minor corrections are normal. Longer term, Gold remains bullish. Support 1084.8, 1045.2, 1026.9 and 989.3. Resistance 1170.7, 1196.8 and 1226.4.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) has turned neutral for the intermediate-term trend after stabilizing since making a low on 1/29/10. Longer term, the trend appears unfavorable, since gold mining stocks have underperformed gold bullion since 9/17/09.
Silver/Gold Ratio has partially recovered since making a low on 2/8/10 and has improved from bearish to neutral.
Copper nearest futures contract price appears to have entered a correction since peaking at 3.68 on 4/12/10. Minor corrections are normal. Longer term, Copper remains bullish. Strength in Copper suggests renewed hope about prospects for the world economy, while weakness suggests doubts. Support 3.29, 3.1505, 3.034, and 2.811. Resistance 3.795 and 4.27.
U.S. Treasury Bond nearest futures contract price recovered modestly over the past 2 weeks but remains bearish over the longer term. Support 115.15, 114.06. 113.04 and 112.15. Resistance 118.12, 119.18, 120.11 and 123.18.
Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) rose above 3-month highs on 4/15/10 and remains bullish. Absolute price of JNK also rose above 3-month highs on 4/15/10 and remains bullish.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) rose to a 2-month high on 4/15/10 and remains bullish. This means investors prefer more inflation protection. Absolute price of TIP rose to a 4-week high on 4/16/10 and remains bullish.
The U.S. dollar nearest futures contract price appears to have entered a correction since peaking at 82.52 on 3/25/10. Minor corrections are normal. Longer term, USD remains bullish. Support 80.14, 79.73, 79.61, 78.83, 78.20, 76.74 and 75.90. Resistance 82.52, 83.145 and 83.335.
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 51.1% Bulls versus 18.9% Bears as of 4/14/10, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio rose to 2.70, up from 2.59 the previous week. The current Bull/Bear ratio is still below its peak at 3.36 set on 1/13/10, which was the highest bullish sentiment in 6 years. The 20-year range is 0.41 to 3.74, the median is 1.51, and the mean is 1.57.
VIX Fear Index fell to a 33-month low of 15.23 on 4/12/10. A low and falling VIX suggests bullish complacency. 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 fell to a 31-month low of 15.53 on 4/14/10. A low and falling VXN suggests bullish complacency. 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 rose to 1.85 on 4/15/10, a high level that indicates extreme bullish sentiment, which might be taken as a sign to be alert. Its 2-year mean is 1.20, and its typical range is 0.69 to 1.71, which represents two standard deviations from the mean.
CBOE Put/Call Ratio fell to 0.32 on 4/14/10, a low level that indicates extreme bullish sentiment, which might be taken as a sign to be alert. The 2-year mean is 0.70, and the typical range is 0.44 to 0.96, which represents two standard deviations from the mean.
The Dow Theory again confirmed a Bullish Major Trend on 4/15/10, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above their closing price highs of the previous 18 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 bullish signal reversed the previous bearish 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) absolute price rose above 18-month highs on 4/15/10, again confirming its bullish trend. Support 1175.12, 1141.45, 1116.11, 1086.02, 1078.46, 1069.97, 1044.50, 1036.31 and 1029.54. Resistance 1213.92, 1220.03 and 1228.74.
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
1213.92, high of 4/16/2010
S&P 500 Cash Index Potential Support
1175.12, low of 4/9/2010
1141.45, low of 3/15/2010
1116.11, high of 3/1/2010
1086.95, Fibonacci 38.2% of 2/5-2/19/10 range
1086.02, low of 2/25/2010
1078.46, Fibonacci 50.0% of 2/5-2/19/10 range
1069.97, Fibonacci 61.8% of 2/5-2/19/10 range
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
0.73% Bond, 20+ Years Treasury, TLT
0.60% Bond, 10 Year Treasury, IEF
0.24% Bond, Corp, LQD
0.23% Bond, TIPS, TIP
0.16% Bond, 1-3 Year Treasury, SHY
0.15% Bond, Aggregate, AGG
0.13% Bond Muni ATM-Free S&P iS, MUB
0.04% Bond EmrgMkt JPM iS, EMB
-0.20% Bond Ex-US Treas, BWX
-0.43% Consumer Staples SPDR, XLP
-0.46% Financial Preferred, PGF
-0.60% Health Care SPDR, XLV
-0.65% Agriculture DB PS, DBA
-0.71% Preferred Stock iS, PFF
-0.81% Bond, High-Yield Corporate, HYG
-0.84% Dividend Appreciation Vipers, VIG
-0.84% Biotech SPDR, XBI
-0.93% Dividend SPDR, SDY
-0.94% Dividend High Yield Equity PS, PEY
-0.97% Chile MSCI iS, ECH
-0.99% Growth BARRA Small Cap 600, IJT
-1.01% Growth SmallCap R 2000, IWO
-1.01% SmallCap S&P 600, IJR
-1.03% Utilities VIPERs, VPU
-1.04% Water Resources, PHO
-1.04% Belgium Index, EWK
-1.08% Growth MidCap 400 B, IJK
-1.15% Value LargeCap Dynamic PS, PWV
-1.16% Dividend DJ Select, DVY
-1.16% Utilities SPDR, XLU
-1.20% Growth LargeCap NASDAQ 100, QQQQ
-1.22% Dividend International, PID
-1.23% MidCap S&P 400 SPDRs, MDY
-1.24% DIAMONDS (DJIA), DIA
-1.24% MidCap S&P 400 iS, IJH
-1.25% Growth 1000 Russell, IWF
-1.26% Value SmallCap S&P 600 B, IJS
-1.26% Info Tech VIPERs, VGT
-1.26% Sweden Index, EWD
-1.28% Growth SmallCap VIPERs, VBK
-1.29% Microcap Russell, IWC
-1.30% Telecom DJ US, IYZ
-1.32% Growth MidCap Russell, IWP
-1.32% Technology DJ US, IYW
-1.32% Consumer Discretionary SPDR, XLY
-1.33% Technology SPDR, XLK
-1.34% Value MidCap S&P 400 B, IJJ
-1.34% SmallCap Russell 2000, IWM
-1.35% Growth VIPERs, VUG
-1.37% Growth S&P 500/BARRA, IVW
-1.38% Small Cap VIPERs, VB
-1.43% Homebuilders SPDR, XHB
-1.44% Networking, IGN
-1.44% Value SmallCap VIPERS, VBR
-1.45% Semiconductor iS GS, IGW
-1.52% LargeCap Blend Russell 3000, IWV
-1.52% Value SmallCap S&P 600, RZV
-1.54% Value SmallCap Russell 2000, IWN
-1.55% S&P 500 iS LargeCap Blend, IVV
-1.56% Blend Total Market VIPERs, VTI
-1.57% LargeCap VIPERs, VV
-1.58% LargeCap 1000 R, IWB
-1.59% S&P 500 SPDRs LargeCap Blend, SPY
-1.60% Transportation Av DJ, IYT
-1.60% LargeCap Blend S&P 100, OEF
-1.60% Energy VIPERs, VDE
-1.62% MidCap Russell, IWR
-1.62% Industrial SPDR, XLI
-1.63% Energy DJ, IYE
-1.64% LargeCap Blend S&P=Weight R, RSP
-1.65% Value MidCap Russell, IWS
-1.65% Malaysia Index, EWM
-1.69% Energy SPDR, XLE
-1.72% Materials SPDR, XLB
-1.72% Global 100, IOO
-1.76% United Kingdom Index, EWU
-1.76% Small Cap EAFE MSCI iS, SCZ
-1.77% Semiconductor SPDR, XSD
-1.79% Singapore Index, EWS
-1.79% Austria Index, EWO
-1.79% Netherlands Index, EWN
-1.82% Commodity Tracking, DBC
-1.82% Switzerland Index, EWL
-1.85% Value S&P 500 B, IVE
-1.87% Japan Index, EWJ
-1.89% Value VIPERs, VTV
-1.94% South Korea Index, EWY
-1.94% Energy Global, IXC
-1.95% Pacific VIPERs, VPL
-1.96% Growth EAFE MSCI, EFG
-1.97% Value 1000 Russell, IWD
-2.05% Taiwan Index, EWT
-2.08% Germany Index, EWG
-2.08% Real Estate US DJ, IYR
-2.09% Natural Resource iS GS, IGE
-2.10% Value EAFE MSCI, EFV
-2.11% WilderHill Clean Energy PS, PBW
-2.12% Gold Shares S.T., GLD
-2.13% Brazil Index, EWZ
-2.14% Europe 350 S&P Index, IEV
-2.20% Global ex US ACWI iS, ACWX
-2.21% Basic Materials DJ US, IYM
-2.21% EAFE Index, EFA
-2.22% Realty Cohen & Steers, ICF
-2.26% Latin Am 40, ILF
-2.30% REIT VIPERs, VNQ
-2.30% European VIPERs, VGK
-2.33% Canada Index, EWC
-2.35% Australia Index, EWA
-2.39% Spain Index, EWP
-2.39% India Earnings WTree, EPI
-2.43% REIT Wilshire, RWR
-2.46% Emerging 50 BLDRS, ADRE
-2.46% India PS, PIN
-2.50% EMU Europe Index, EZU
-2.54% Pacific ex-Japan, EPP
-2.57% South Africa Index, EZA
-2.59% France Index, EWQ
-2.63% Emerging VIPERs, VWO
-2.65% Mexico Index, EWW
-2.66% Oil, Crude, U.S. Oil Fund, USO
-2.68% Hong Kong Index, EWH
-2.69% Italy Index, EWI
-2.92% Turkey MSCI iS, TUR
-2.93% Emerging Markets, EEM
-2.97% Metals & Mining SPDR, XME
-3.17% China LargeCap Growth G D H USX PS, PGJ
-3.22% Indonesia MV, IDX
-3.27% Capital Markets KWB ST, KCE
-3.32% Russia MV, RSX
-3.37% Financial DJ US, IYF
-3.50% Financials VIPERs, VFH
-3.62% China 25 iS, FXI
-3.65% Financial SPDR, XLF
-3.65% Silver Trust iS, SLV
-3.99% Financial Services DJ, IYG
-5.48% Thailand MSCI iS, THD
