S&P 500 Composite (SPX, 1,335.25) fell 2.13 points or 0.16%. SPX has been encountering resistance short of its 1344.07 intraday high of 2/18/11.
Price momentum indicators based on the SPX have failed to keep up with SPX itself and are well below their highs of 2/18/11. Therefore, momentum is showing negative divergence.
Trading volume on the NYSE fell 18% below Thursday ‘s pace. Volume has remained at a relatively low level over the past few weeks, thereby failing to confirm upside rally attempts. NYSE Cumulative Volume of Advancing Stocks minus Volume of Declining Stocks peaked on 2/18/11, made a lower peak on 4/6/11, and is at a lower level now, indicating greater volume in Declining Stocks than in Advancing Stocks–in other words, net selling pressure over the past two months.
NYSE New Highs minus New Lows peaked a year ago on 4/26/10, made a lower peak on 11/4/10, an even lower peak on 4/1/11, and are lower still now, suggesting that the Bull Market has lost power.
Although the short-term stock market trend has been widely hailed as “bullish” over the past few weeks, the short-term trend is very changeable. A rally lasting a few weeks might be getting long in tooth.
Without broadly-confirmed new highs in the majority of indexes, the intermediate-term stock market trend appears questionable.
Silver and Gold tried to rally early but closed below the opening price levels, possibly signaling exhaustion and profit taking.
If the “inflation trade” balloon is pricked, stock prices might deflate.
U.S. Treasury Bond nearest futures contract price rose above 4-week highs on 4/25/11, reconfirming a short-term uptrend. The Bond could be building an intermediate-term bullish base since the low of 2/9/10. In its favor, nearly everyone has been talking bearish on Bonds this year, so the Bond could be oversold.
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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
2.68% , VIA , VIACOM INC. (New)
9.25% , IGT , INTL GAME TECH
3.31% , DYN , DYNEGY
3.71% , LXK , LEXMARK INTL STK A
0.39% , EWN , Netherlands Index, EWN
1.49% , ADSK , AUTODESK
1.62% , THC , TENET HEALTHCARE
1.48% , UIS , UNISYS
1.14% , RHI , ROBERT HALF
1.01% , ABC , AMERISOURCEBERGN
0.52% , IIH , Internet Infrastructure H, IIH
2.75% , ININ , Interactive Intelligence ININ
1.57% , NVDA , NVIDIA
0.65% , SLV , Silver Trust iS, SLV
0.72% , TUP , TUPPERWARE
1.35% , AN , AUTONATION
0.22% , PWY , Value SmallCap Dynamic PS, PWY
0.63% , ITW , ILLINOIS TOOL
0.79% , GIS , GENERAL MILLS
0.50% , ECL , ECOLAB
0.48% , EWL , Switzerland Index, EWL
1.54% , YHOO , YAHOO
0.10% , IWW , Value LargeCap Russell 3000, IWW
1.00% , CLF , CLIFFS NATURAL RESOURCES, CLF
0.87% , ETR , ENTERGY
3.16% , EBAY , EBAY
0.44% , PPH , Pharmaceutical H, PPH
0.94% , DISCA , Discovery Communications
0.31% , WM , WASTE MANAGEMENT
0.66% , ATI , ALLEGHENY TECH
0.07% , NYC , LargeCap Blend NYSE Composite iS, NYC
0.64% , UPS , UNITED PARCEL STK B
1.16% , SRCL , Stericycle, SRCL
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-0.41% , PWP , Value MidCap Dynamic PS, PWP
-2.74% , KMB , KIMBERLY CLARK
-2.36% , ODP , OFFICE DEPOT
-2.09% , CHD , Church & Dwight
-4.58% , OMX , OFFICEMAX INC., OMX
-0.33% , VOX , Telecom Services VIPERs, VOX
-2.27% , MON , MONSANTO
-2.77% , JCI , JOHNSON CONTROLS
-0.64% , PKB , Building & Construction, PKB
-0.46% , DBA , Agriculture DB PS, DBA
-3.12% , SIL , Silver Miners Global X, SIL
-0.16% , RPV , Value S&P 500, RPV
-0.35% , PIV , Value Line Timeliness MidCap Gr, PIV
-1.73% , EPU , Peru MSCI iS, EPU
-0.31% , PEY , Dividend High Yield Equity PS, PEY
-0.35% , VDC , Consumer Staples VIPERs, VDC
-1.31% , R , RYDER SYSTEM
-0.92% , EWH , Hong Kong Index, EWH
-1.46% , TLAB , TELLABS
-0.89% , PWT , Growth SmallCap Dynamic PS, PWT
-1.53% , IP , INTL PAPER
-0.28% , PSQ , Short 100% QQQ, PSQ
-1.14% , NWL , NEWELL RUBBER
-0.60% , PST , 200% Short Bond 7-10 Yr T, PST
-2.15% , AIG , AMER INTL GROUP
-1.42% , ESRX , EXPRESS SCRIPTS
-1.41% , CLX , CLOROX
-0.89% , DLX , DELUXE
-0.57% , CMS , CMS ENERGY
-0.26% , IJS , Value SmallCap S&P 600 B, IJS
-1.12% , HPQ , HEWLETT PACKARD
-1.27% , LPX , LOUISIANA PAC
-0.55% , EWZ , Brazil Index, EWZ
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) has been consolidating gains since 4/5/11 and remains neutral. Absolute price has been consolidating gains since 4/6/11. Support 75.18, 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.
Consumer Discretionary (XLY) Neutral, Market Weight. The Relative Strength Ratio (XLY/SPY) rose above 6-week highs on 4/25/11 and appears relatively bullish. Absolute price rose above 9-week highs on 4/21/11. 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 40.02, 40.13, and 40.70.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) has been consolidating gains since 4/4/11 and remains neutral. Absolute price has been consolidating gains since 4/1/11. Support 36.24, 35.08, 35.03, 31.82, 31.58, 30.79, 30.51, 30.32, 29.77, and 27.67. Resistance 38.22, 39.02, and 39.97.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) ) has been consolidating gains 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.
Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) rose above 3-month highs on 4/19/11 but remains neutral based on moving average relationships, with the 50-day SMA of the RS Ratio below the 200-day SMA. Absolute price remains bullish. Support 33.23, 32.57, 31.43, 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 34.71, 36.61, and 37.89.
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 26.66, 27.09, 27.43, 27.63, and 28.60.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) rose above 3-month highs on 4/18/11 but remains neutral, based on moving average relationships, with the 50-day SMA of the RS Ratio below the 200-day SMA. Absolute price rose above 12-year highs on 4/20/11 and 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: 30.54 and 31.02.
Utilities (XLU) Bearish, Under Weight. The Relative Strength Ratio (XLU/SPY) crossed back below its 50-day SMA on 4/21/11, turning neutral. Absolute price remains neutral. Support 31.35, 31.20, 30.74, 30.53, 29.66, 27.91, 27.44, and 25.76. Resistance 32.27, 32.89, 33.00, 34.89, and 36.24.
Financial (XLF) Bearish, Under Weight. The Relative Strength Ratio (XLF/SPY) fell below 2-year lows on 4/20/11 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) remains neutral, with the 50-day SMA 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 gains since 1/18/11 and remains neutral.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows on 4/21/11, again reconfirming its preexisting bearish major trend.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) rose above all-time highs on 4/5/11, thereby reconfirming its preexisting bullish major trend.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above all-time highs on 4/5/11, thereby reconfirming its preexisting bullish major trend.
Crude Oil nearest futures contract price tried to rally early but closed lower on 4/25/11, possibly signaling an uncertain short-term trend. Longer term trends remain bullish. Support 105.98, 105.31, 102.70, 97.02, 96.22, 95.14, 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 113.46, 114.05, 120.42, 130.0, and 147.27.
Gold nearest futures contract price tried to rally early but closed below the open on 4/25/11, possibly signaling exhaustion and profit taking. Gold rose above all-time highs on 4/25/11, again reconfirming its major uptrend. Support 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: none.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) is bearish. It 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 tried to rally early but closed below the open on 4/25/11, possibly signaling exhaustion and profit taking. Silver rose above 31-year highs on 4/25/11, again reconfirming a bullish major trend. Support 39.70, 39.12, 37.08, 36.43, 33.565, 31.695, 31.61, 30.265, 29.635, 26.30, 24.98, and 22.84. Resistance: 50.35.
Silver/Gold Ratio rose above 27-year highs on 4/25/11, again reconfirming its preexisting bullish major trend.
Copper nearest futures contract price closed below the low of the previous trading day on 4/25/11, possibly signaling a short-term price pullback. Still, Copper appears to be in an intermediate-term consolidation since peaking at 4.6575 on 2/15/11. Strength in Copper suggests confidence in the economic outlook, while weakness suggests doubts. Support 4.212, 4.076, 3.9795, 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 rose above 4-week highs on 4/25/11, reconfirming a short-term uptrend. The Bond could be building an intermediate-term bullish base since the low of 2/9/10. 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 122.08, 123.22, 123.26, 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 peaked at 40.94 on 11/4/10.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) rose further above 2-year highs on 4/8/11. The Ratio has been in a rising trend since making a low on 8/24/10. This rising Relative Strength Ratio reflects fixed-income investors’ preference for inflation-protected TIPs over the unprotected 7-10 Year U.S. Treasury Note ETF (IEF) since 8/24/10.
The U.S. dollar nearest futures contract price stabilized on Monday, after falling further below the lows of the previous 16 months on 4/21/11, and again reconfirming a long-term, major downtrend. Support 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 4/4/11, 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. While other Dow Theorists were fooled by the big downside Secondary Reaction in May and June 2010 and called a “Bear Market”, my interpretation of the Dow Theory has been steadily Bullish on the Primary Tide Trend every day since 7/23/09.
The Dow-Jones Industrial Average rose to a new 2-year high on Thursday 4/21/11. But the Dow-Jones Transportation Average, the A-D Line, the S&P 500, and most other indexes and indicators failed to close above their highs of the previous 2-years. This is a “Non Confirmation”, and it casts doubt on the validity of the Industrials’ upside breakout.
The short-term trend (which changes very frequently, every few days to every few weeks) had been up for 3 weeks from 3/16/11 to 4/6/11, driven by short covering, general expectations of rising corporate profits, and merger activity. This is typical late-cycle behavior. After two years of bull trend that has doubled stock prices from their 2009 lows, it is only prudent to focus on protecting your capital.
S&P 500 Composite (SPX, 1,335.25) fell 2.13 points or 0.16%. SPX has been encountering resistance short of its 1344.07 intraday high of 2/18/11.
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
1344.07, high of 2/18/11
1339.46, high of 4/8/11
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
0.79% Realty Cohen & Steers, ICF
0.71% REIT Wilshire, RWR
0.67% REIT VIPERs, VNQ
0.65% Silver Trust iS, SLV
0.51% Networking, IGN
0.51% Spain Index, EWP
0.49% Real Estate US DJ, IYR
0.48% Switzerland Index, EWL
0.45% EMU Europe Index, EZU
0.42% Italy Index, EWI
0.39% Netherlands Index, EWN
0.38% Bond, 20+ Years Treasury, TLT
0.35% Bond, 10 Year Treasury, IEF
0.29% Small Cap EAFE MSCI iS, SCZ
0.28% Info Tech VIPERs, VGT
0.27% Bond, TIPS, TIP
0.27% Technology DJ US, IYW
0.26% Transportation Av DJ, IYT
0.26% European VIPERs, VGK
0.26% QQQ Nasdaq 100 Trust, QQQ
0.20% Sweden Index, EWD
0.19% Chile MSCI iS, ECH
0.18% Preferred Stock iS, PFF
0.18% Bond Muni ATM-Free S&P iS, MUB
0.16% Europe 350 S&P Index, IEV
0.15% Germany Index, EWG
0.14% France Index, EWQ
0.12% Utilities SPDR, XLU
0.12% Health Care SPDR, XLV
0.11% Australia Index, EWA
0.11% Pacific VIPERs, VPL
0.10% Bond, Corp, LQD
0.10% Utilities VIPERs, VPU
0.10% WilderHill Clean Energy PS, PBW
0.09% Gold Shares S.T., GLD
0.08% Value SmallCap VIPERS, VBR
0.08% Technology SPDR, XLK
0.08% Microcap Russell, IWC
0.07% Semiconductor iS IGW, SOXX
0.07% Bond Ex-US Treas, BWX
0.06% Bond, Aggregate, AGG
0.05% Growth EAFE MSCI, EFG
0.03% Semiconductor SPDR, XSD
0.03% MidCap S&P 400 iS, IJH
0.01% Bond, 1-3 Year Treasury, SHY
0.01% MidCap S&P 400 SPDRs, MDY
0.00% Growth MidCap 400 B, IJK
0.00% Value MidCap Russell, IWS
0.00% Value LargeCap Dynamic PS, PWV
0.00% Oil Fund PowerShares, DBO
0.00% Financial Preferred, PGF
0.00% EAFE Index, EFA
0.00% Dividend International, PID
0.00% Austria Index, EWO
-0.01% Value SmallCap Russell 2000, IWN
-0.02% Financial DJ US, IYF
-0.03% Global 100, IOO
-0.04% Value EAFE MSCI, EFV
-0.04% Financials VIPERs, VFH
-0.04% Telecom DJ US, IYZ
-0.04% Value 1000 Russell, IWD
-0.05% Bond Treasury Short-Term iS, SHV
-0.05% LargeCap Blend S&P 100, OEF
-0.06% Dividend DJ Select, DVY
-0.07% Belgium Index, EWK
-0.07% Value VIPERs, VTV
-0.07% S&P 500 iS LargeCap Blend, IVV
-0.08% MidCap Russell, IWR
-0.09% Oil, Crude, U.S. Oil Fund, USO
-0.09% Growth SmallCap VIPERs, VBK
-0.10% Japan Index, EWJ
-0.10% Bond, High-Yield Junk, JNK
-0.10% Consumer Discretionary SPDR, XLY
-0.10% Blend Total Market VIPERs, VTI
-0.10% Malaysia Index, EWM
-0.10% S&P 500 SPDRs LargeCap Blend, SPY
-0.11% LargeCap 1000 R, IWB
-0.11% Bond, High-Yield Corporate, HYG
-0.11% Value S&P 500 B, IVE
-0.11% LargeCap Blend Russell 3000, IWV
-0.12% Financial SPDR, XLF
-0.13% Growth BARRA Small Cap 600, IJT
-0.13% Small Cap VIPERs, VB
-0.13% Value MidCap S&P 400 B, IJJ
-0.13% Growth MidCap Russell, IWP
-0.13% SmallCap Russell 2000, IWM
-0.14% China LargeCap Growth G D H USX PS, PGJ
-0.14% LargeCap Blend S&P=Weight R, RSP
-0.14% Growth S&P 500/BARRA, IVW
-0.15% Dividend SPDR, SDY
-0.16% Turkey MSCI iS, TUR
-0.16% Homebuilders SPDR, XHB
-0.16% LargeCap VIPERs, VV
-0.17% Growth SmallCap R 2000, IWO
-0.18% South Korea Index, EWY
-0.19% SmallCap S&P 600, IJR
-0.19% DIAMONDS (DJIA), DIA
-0.20% Growth 1000 Russell, IWF
-0.22% Bond EmrgMkt JPM iS, EMB
-0.22% Energy Global, IXC
-0.23% Financial Services DJ, IYG
-0.23% Growth VIPERs, VUG
-0.26% Latin Am 40, ILF
-0.26% Consumer Staples SPDR, XLP
-0.26% Value SmallCap S&P 600 B, IJS
-0.28% Pacific ex-Japan, EPP
-0.28% Commodity Tracking, DBC
-0.29% Industrial SPDR, XLI
-0.31% Dividend High Yield Equity PS, PEY
-0.32% United Kingdom Index, EWU
-0.33% Dividend Appreciation Vipers, VIG
-0.39% Global ex US ACWI iS, ACWX
-0.42% Singapore Index, EWS
-0.43% Metals & Mining SPDR, XME
-0.45% Taiwan Index, EWT
-0.46% Basic Materials DJ US, IYM
-0.46% Agriculture DB PS, DBA
-0.51% Energy VIPERs, VDE
-0.51% Emerging 50 BLDRS, ADRE
-0.52% Energy SPDR, XLE
-0.55% Brazil Index, EWZ
-0.55% Mexico Index, EWW
-0.55% Energy DJ, IYE
-0.56% Biotech SPDR, XBI
-0.65% Canada Index, EWC
-0.66% South Africa Index, EZA
-0.67% India Earnings WTree, EPI
-0.70% Water Resources, PHO
-0.70% Frontier Markets Guggenheim , FRN
-0.70% India PS, PIN
-0.77% Materials SPDR, XLB
-0.81% Emerging Markets, EEM
-0.84% Energy & Nat Res iS GS, IGE
-0.85% Emerging VIPERs, VWO
-0.86% Indonesia MV, IDX
-0.89% Capital Markets KWB ST, KCE
-0.92% Hong Kong Index, EWH
-0.99% Russia MV, RSX
-1.08% China 25 iS, FXI
-1.33% Thailand MSCI iS, THD
-3.12% Silver Miners Global X, SIL
