S&P 500 Composite (SPX, 1,348.65) rose 6.57 points or 0.49% on Thursday, thereby recovering less than half of Wednesday’s steep loss. Trading volume fell 2% to 4.2 billion shares on the NYSE. Rising volume on price declines and falling volume on rallies suggests that selling pressure (supply) outweighs buying pressure (demand). It was a weak rally attempt. The short-term downtrend that started on 5/2/11 appears likely to resume.
Stock market leadership in May has been demonstrating increasing investor caution. The sectors up the most over the past week are defensive Utilities, Health, and Consumer stocks. In contrast, the sectors down the most are more cyclical and dependent on the strength of the economy: Energy and Financial.
Financial SPDR stock sector ETF Relative Strength Ratio (XLF/SPY) fell below 2-year lows and remains bearish.
Materials SPDR stock sector ETF Relative Strength Ratio (XLB/SPY) ) fell below 7-week lows and appears to be heading toward a possible bearish signal in weeks ahead.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows, again reconfirming its preexisting bearish major trend
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below 7-week lows and remains bearish. The Ratio gave a bearish signal on 5/3/11.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below 5-week lows. The Ratio gave a bearish signal on 5/12/11.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) fell further below 15-month lows on 5/11/11, again reconfirming its bearish trend.
Silver/Gold Ratio broke down below the lows of the previous 12 weeks, reconfirming the remarkable downtrend since the peak on 4/28/11.
The CRB Index of commodity prices, Crude Oil, Gold, Silver, and Copper recovered small fractions of recent steep losses, but still probably remain in downtrends.
The U.S. dollar gave back a small fraction after rising above the highs of the previous 2 weeks–and again reconfirming a long-overdue oversold bounce.
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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
0.36% , XLG , LargeCap Rydex Rus Top 50, XLG
1.07% , IYK , Consumer Non-Cyclical, IYK
5.20% , SYMC , SYMANTEC
1.49% , PMR , Retail, PMR
1.00% , SDY , Dividend SPDR, SDY
0.51% , KWT , Solar Energy MV, KWT
1.35% , VDC , Consumer Staples VIPERs, VDC
6.12% , ODP , OFFICE DEPOT
2.09% , AEP , AM ELEC POWER
0.73% , MTK , Technology MS sT, MTK
2.95% , DLTR , Dollar Tree Stores Inc
0.70% , JKE , Growth LargeCap iS M, JKE
0.66% , IWP , Growth MidCap Russell, IWP
3.17% , NVDA , NVIDIA
0.83% , VPU , Utilities VIPERs, VPU
3.15% , VRSN , VeriSign Inc
1.15% , PSI , Semiconductors, PSI
2.38% , HSY , HERSHEY FOODS
1.72% , LO , Lorillard, Inc. LO
4.67% , NVLS , NOVELLUS SYS
0.50% , ISI , LargeCap Blend S&P 1500 iS, ISI
3.86% , KSS , KOHLS
2.82% , BF.B , BROWN FORMAN STK B
2.52% , CL , COLGATE
2.05% , MJN , Mead Johnson Nutrition
1.83% , GIS , GENERAL MILLS
4.14% , BBY , BEST BUY
2.48% , CCL , CARNIVAL STK A
2.36% , TJX , TJX
1.40% , OMX , OFFICEMAX INC., OMX
1.27% , BBH , Biotech H, BBH
1.70% , PGN , PROGRESS ENERGY
2.46% , VFC , VF
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-3.47% , GS , GOLDMAN SACHS
-4.78% , CSCO , CISCO SYSTEMS
-0.75% , PSTL , Steel Global PS ETF, PSTL
-1.35% , LBTYA , Liberty Global Inc. (LBTYA)
-1.64% , SNV , SYNOVUS
-0.86% , FITB , FIFTH THIRD BANC
-1.87% , AES , AES
-0.20% , BWX , Bond Ex-US Treas, BWX
-1.16% , SLM , SLM CORP
-1.23% , XL , XL CAPITAL STK A
-0.76% , APD , AIR PRODS & CHEM
-0.93% , BIG , BIG LOTS
-0.60% , EIX , EDISON INTL
-0.94% , SCHW.K , CHARLES SCHWAB, SCHW.O
-3.11% , SLV , Silver Trust iS, SLV
-2.18% , LXK , LEXMARK INTL STK A
-0.53% , DOG , Short 100% Dow 30, DOG
-0.74% , STI , SUNTRUST BANKS
-1.11% , MON , MONSANTO
-1.21% , DVN , DEVON ENERGY
-1.91% , ZION , ZIONS
-0.69% , HON , HONEYWELL INTL
-0.77% , STT , STATE STREET
-0.75% , VIA.B , VIACOM STK B
-0.57% , PSQ , Short 100% QQQ, PSQ
-1.38% , COP , CONOCOPHILLIPS
-1.12% , QID , Short 200% QQQ PS, QID
-0.38% , DISH , EchoStar Communications
-0.61% , HMA , HEALTH MGMT STK A
-0.89% , SDS , Short 200% S&P 500 PS, SDS
-1.60% , IFF , INTL FLAV & FRAG
-1.04% , WMB , WILLIAMS
-0.47% , EPP , Pacific ex-Japan, EPP
9 major U.S. stock sectors ranked in order of long-term relative strength:
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 closed above 3-year highs on 5/12/11 and remains bullish. Support 32.57, 31.43, 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 36.67 and 37.89.
Consumer Discretionary (XLY) Neutral, Market Weight. The Relative Strength Ratio (XLY/SPY) has been consolidating previous gains since 11/26/10 and has added a moderate upward bias in recent weeks. 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.
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
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) fell below 3-month lows on 5/12/11. The Ratio has fallen 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 based on moving average relationships. Support 72.78, 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 Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) has been rising since 2/16/11 but 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) has been rising since 2/18/11 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 further above 2-year highs on 5/12/11 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.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) ) fell below 7-week lows on 5/12/11 and 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 remains neutral even though it has been falling since 4/5/11. 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.
Financial (XLF) Bearish, Under Weight. The Relative Strength Ratio (XLF/SPY) fell below 2-year lows on 5/12/11 and remains bearish. Absolute price has been sagging since the peak on 2/18/11 but nevertheless remains neutral based on moving average relationships. 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) fell below 7-week lows on 5/12/11 and remains bearish. The Ratio 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) fell below 5-week lows on 5/12/11. The Ratio gave a bearish signal on 5/11/11 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.
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 5/12/11, 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 small fraction after falling steeply on 5/11/11, probably resuming its downtrend. 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 small fraction after falling below the low of the previous trading day on 5/11/11. 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 5/12/11, 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 fell below 2-month lows on 5/12/11 but recovered to close only moderately lower. Still, Silver remains in a price downtrend. 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 down below the lows of the previous 12 weeks on 5/12/11, reconfirming the remarkable downtrend since the peak on 4/28/11.
Copper nearest futures contract price fell below 6-month lows on 5/12/11, confirming at least an intermediate-term correction, if not a bear market. Weakness in Copper suggests doubts about the economic outlook. 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 has turned choppy/sideways after rising 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 below 7-week lows on 5/11/11, again reconfirming 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 gave back a small fraction after rising above the highs of the previous 2 weeks on 5/11/11, and again reconfirming a long-overdue oversold bounce. 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.
Based on the daily SPX, momentum indicators have turned down and remained bearish. 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 are still in effect.
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.
S&P 500 Composite (SPX, 1,348.65) rose 6.57 points or 0.49% on Thursday, thereby recovering less than half of Wednesday’s steep loss. Trading volume fell 2% to 4.2 billion shares on the NYSE. Rising volume on price declines and falling volume on rallies suggests that selling pressure (supply) outweighs buying pressure (demand). The short-term downtrend that started on 5/2/11 appears likely to resume.
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
3.12% Turkey MSCI iS, TUR
1.48% Consumer Staples SPDR, XLP
1.41% Biotech SPDR, XBI
1.34% Semiconductor SPDR, XSD
1.31% Semiconductor iS IGW, SOXX
1.16% Belgium Index, EWK
1.14% Switzerland Index, EWL
1.02% Taiwan Index, EWT
1.01% Utilities SPDR, XLU
1.00% Dividend SPDR, SDY
1.00% Microcap Russell, IWC
0.99% Consumer Discretionary SPDR, XLY
0.97% Growth BARRA Small Cap 600, IJT
0.94% Growth SmallCap R 2000, IWO
0.92% Health Care SPDR, XLV
0.91% Sweden Index, EWD
0.88% SmallCap Russell 2000, IWM
0.84% Value LargeCap Dynamic PS, PWV
0.84% SmallCap S&P 600, IJR
0.84% Dividend DJ Select, DVY
0.83% Utilities VIPERs, VPU
0.83% WilderHill Clean Energy PS, PBW
0.81% Malaysia Index, EWM
0.78% Dividend High Yield Equity PS, PEY
0.77% Metals & Mining SPDR, XME
0.76% Value SmallCap S&P 600 B, IJS
0.75% Spain Index, EWP
0.75% Technology SPDR, XLK
0.71% Dividend Appreciation Vipers, VIG
0.70% Value SmallCap Russell 2000, IWN
0.66% LargeCap Blend S&P=Weight R, RSP
0.66% Small Cap VIPERs, VB
0.66% Growth MidCap Russell, IWP
0.65% Growth S&P 500/BARRA, IVW
0.65% Chile MSCI iS, ECH
0.65% Value SmallCap VIPERS, VBR
0.64% Homebuilders SPDR, XHB
0.64% Growth SmallCap VIPERs, VBK
0.63% Hong Kong Index, EWH
0.63% Info Tech VIPERs, VGT
0.62% Growth MidCap 400 B, IJK
0.60% Water Resources, PHO
0.60% QQQ Nasdaq 100 Trust, QQQ
0.60% MidCap S&P 400 SPDRs, MDY
0.60% Telecom DJ US, IYZ
0.59% Technology DJ US, IYW
0.57% Growth 1000 Russell, IWF
0.56% MidCap S&P 400 iS, IJH
0.56% Growth VIPERs, VUG
0.56% Bond Muni ATM-Free S&P iS, MUB
0.55% Value MidCap S&P 400 B, IJJ
0.54% DIAMONDS (DJIA), DIA
0.53% EMU Europe Index, EZU
0.51% LargeCap Blend Russell 3000, IWV
0.50% European VIPERs, VGK
0.50% LargeCap VIPERs, VV
0.49% Frontier Markets Guggenheim , FRN
0.48% S&P 500 SPDRs LargeCap Blend, SPY
0.47% France Index, EWQ
0.47% Blend Total Market VIPERs, VTI
0.46% Networking, IGN
0.45% LargeCap 1000 R, IWB
0.44% S&P 500 iS LargeCap Blend, IVV
0.43% MidCap Russell, IWR
0.42% LargeCap Blend S&P 100, OEF
0.40% Value VIPERs, VTV
0.39% Value EAFE MSCI, EFV
0.38% Financial Preferred, PGF
0.36% Dividend International, PID
0.35% Value MidCap Russell, IWS
0.35% Netherlands Index, EWN
0.33% Value 1000 Russell, IWD
0.33% Germany Index, EWG
0.33% EAFE Index, EFA
0.32% Europe 350 S&P Index, IEV
0.30% Value S&P 500 B, IVE
0.29% Emerging Markets, EEM
0.29% Japan Index, EWJ
0.27% Italy Index, EWI
0.26% Thailand MSCI iS, THD
0.21% Industrial SPDR, XLI
0.18% China 25 iS, FXI
0.18% Global 100, IOO
0.16% REIT VIPERs, VNQ
0.13% Global ex US ACWI iS, ACWX
0.13% Growth EAFE MSCI, EFG
0.10% Commodity Tracking, DBC
0.10% REIT Wilshire, RWR
0.10% Preferred Stock iS, PFF
0.10% Bond, High-Yield Corporate, HYG
0.09% Agriculture DB PS, DBA
0.09% India PS, PIN
0.08% Brazil Index, EWZ
0.08% Capital Markets KWB ST, KCE
0.07% Bond, High-Yield Junk, JNK
0.04% India Earnings WTree, EPI
0.03% Gold Shares S.T., GLD
0.03% Bond EmrgMkt JPM iS, EMB
0.01% Transportation Av DJ, IYT
0.01% Bond Treasury Short-Term iS, SHV
0.00% South Africa Index, EZA
0.00% Small Cap EAFE MSCI iS, SCZ
0.00% Pacific VIPERs, VPL
0.00% Financial SPDR, XLF
0.00% Financial DJ US, IYF
0.00% Emerging VIPERs, VWO
-0.02% Real Estate US DJ, IYR
-0.03% Financials VIPERs, VFH
-0.05% Bond, 1-3 Year Treasury, SHY
-0.05% Basic Materials DJ US, IYM
-0.07% Energy DJ, IYE
-0.08% Latin Am 40, ILF
-0.08% Energy Global, IXC
-0.09% Austria Index, EWO
-0.10% Materials SPDR, XLB
-0.11% Realty Cohen & Steers, ICF
-0.12% Bond, TIPS, TIP
-0.13% Oil Fund PowerShares, DBO
-0.14% Singapore Index, EWS
-0.15% Energy SPDR, XLE
-0.15% Bond, Aggregate, AGG
-0.16% Indonesia MV, IDX
-0.17% Energy VIPERs, VDE
-0.18% Oil, Crude, U.S. Oil Fund, USO
-0.19% Energy & Nat Res iS GS, IGE
-0.19% Emerging 50 BLDRS, ADRE
-0.20% Bond Ex-US Treas, BWX
-0.21% Russia MV, RSX
-0.22% Bond, 10 Year Treasury, IEF
-0.23% Financial Services DJ, IYG
-0.24% Bond, Corp, LQD
-0.27% United Kingdom Index, EWU
-0.29% South Korea Index, EWY
-0.31% Canada Index, EWC
-0.34% Mexico Index, EWW
-0.36% China LargeCap Growth G D H USX PS, PGJ
-0.47% Pacific ex-Japan, EPP
-0.60% Australia Index, EWA
-0.63% Bond, 20+ Years Treasury, TLT
-0.71% Silver Miners Global X, SIL
-3.11% Silver Trust iS, SLV
