Stock Market: Primary Tide Bull Market Confirmed, according to the Dow Theory.
Both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above 12-month closing price highs to confirm the preexisting Primary Tide Bull Market, according to the Dow Theory.
A-D Lines for the NYSE and NASDAQ did not confirm new highs.
Short-term momentum oscillators did not confirm new highs.
Shrinking volume of trading did not confirm new highs.
Bullish Percent Indexes are far below 2009 highs.
Materials Stock Sector Relative Strength Ratio rose above the highs of the previous 8 weeks on 11/17/09. XLB/SPY is in bullish relative trends for the short, intermediate, and long terms. XLB/SPY has moved above 50- and 200-day simple moving averages, which are now rising bullishly.
Financial Stock Sector Relative Strength Ratio fell further below the lows of the previous 15 weeks on 11/17/09, again confirming the preexisting bearish trend for the intermediate-term--and probably for the long-term as well. XLF/SPY is below its 50-day simple moving average, which is falling bearishly.
Utilities Relative Strength Ratio fell further below previous 24-month lows on 11/17/09, again confirming the preexisting downtrends in all time frames. XLU has underperformed since 11/21/08, as the appetite for risk recovered.
Russell 1000 Value ETF Relative Strength Ratio fell below the lows of the previous 15 weeks on 11/17/09, again confirming the preexisting bearish trend. IWD/SPY has underperformed since 9/18/09. Long term, IWD/SPY remains in a bearish trend, underperforming since 3/22/07.
U.S. Treasury Bond rose above the highs of the previous 5 weeks on 11/17/09, which should be bullish for the short term.
Silver/Gold Ratio rose further above the highs of the previous 3 weeks on 11/17/09, again confirming the short-term trend as bullish. A rising trend of the Silver/Gold Ratio suggests growing confidence about global economic prospects, even while many analysts remain pessimistic.
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
% Price Change, Symbol, Name
8.85% , DDS , DILLARD STK A
9.15% , FMCN , Focus Media, FMCN
7.27% , CIEN.O , CIENA
4.93% , STLD , Steel Dynamics, STLD
4.54% , STI , SUNTRUST BANKS
0.21% , TTH , Telecom H, TTH
5.07% , RF , REGIONS FINAN
1.03% , CMS , CMS ENERGY
1.72% , MOT , MOTOROLA
3.07% , MON , MONSANTO
0.23% , OEF , LargeCap Blend S&P 100, OEF
0.57% , XSD , Semiconductor SPDR, XSD
0.71% , PKI , PERKINELMER
0.38% , KLD , LargeCap Blend Socially Responsible iS, KLD
1.10% , TER , TERADYNE
1.56% , MSFT , MICROSOFT
0.78% , PTE , Telecommunications & Wireless, PTE
0.43% , ONEQ , Growth LargeCap NASDAQ Fidelity, ONEQ
1.35% , LRCX , LAM RESEARCH CORP
0.49% , DBC , Commodity Tracking, DBC
1.51% , JCI , JOHNSON CONTROLS
2.77% , SLM , SLM CORP
0.27% , XLV , Health Care SPDR, XLV
0.82% , RTN , RAYTHEON
1.06% , VZ , VERIZON COMMS
0.45% , PJP , Pharmaceuticals, PJP
0.61% , IYW , Technology DJ US, IYW
0.34% , GWW , WW GRAINGER
0.83% , BLL , BALL
0.61% , FAST , Fastenal Company
0.19% , PGF , Financial Preferred, PGF
0.41% , FHN , FIRST TENNESSEE
0.62% , TWX , TIME WARNER INC
0.24% , JKF , Value LargeCap iS M, JKF
0.94% , WMT , WAL MART STORES
0.12% , JKI , Value MidCap iS M, JKI
1.40% , UNP , UNION PACIFIC
0.35% , FISV , FISERV
0.30% , MDT , MEDTRONIC
0.10% , ELG , Growth Large Cap, ELG
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-0.76% , EWN , Netherlands Index, EWN
-0.62% , FPX , IPOs, First Tr IPOX-100, FPX
-3.51% , HOLX , Hologic, Inc., HOLX
-2.77% , RYAAY , Ryanair Holdings plc
-3.02% , TGT , TARGET
-1.41% , PKB , Building & Construction, PKB
-0.63% , FEZ , Euro STOXX 50, FEZ
-2.61% , TLAB , TELLABS
-5.09% , JNY , JONES APPAREL
-2.39% , HD , HOME DEPOT
-4.20% , COH , COACH
-0.77% , EZA , South Africa Index, EZA
-1.54% , TJX , TJX
-1.60% , ADSK , AUTODESK
-2.32% , THC , TENET HEALTHCARE
-2.81% , LXK , LEXMARK INTL STK A
-0.43% , IXC , Energy Global, IXC
-2.24% , PHM , PULTE HOMES
-0.15% , RPG , Growth S&P 500, RPG
-1.41% , ROST , Ross Stores Inc
-1.24% , NBR , NABORS
-0.17% , VXF , Extended Mkt VIPERs, VXF
-6.67% , ABK , AMBAC FINL GRP
-2.76% , HMA , HEALTH MGMT STK A
-1.22% , HOT , STARWOOD HOTELS
-0.07% , EWK , Belgium Index, EWK
-0.71% , RZV , Value SmallCap S&P 600, RZV
-2.43% , URBN , Urban Outfitters Inc.
-1.30% , UNM , UNUMPROVIDENT
-1.31% , XRAY , DENTSPLY International Inc
-0.22% , PIC , Insurance, PIC
-0.96% , TNB , THOMAS & BETTS
-1.99% , VFC , VF
-3.96% , JCP , JC PENNEY
-0.55% , EWW , Mexico Index, EWW
-1.11% , ERTS , ELECTRONIC ARTS
-1.69% , IR , INGER RAND
-0.95% , EWS , Singapore Index, EWS
-1.07% , KSS , KOHLS
-0.56% , MHS , MEDCO HEALTH
9 major U.S. stock sectors ranked in order of long-term relative strength:
Consumer Discretionary Neutral, Market Weight. The Relative Strength Ratio rose to another new 6-month high on 11/16/09, again confirming the preexisting bullish trend for the intermediate term. XLY/SPY is above 50- and 200-day simple moving averages, which are rising bullishly. XLY has been at the top of my rankings for many months.
Technology Neutral, Market Weight. The Relative Strength Ratio rose to another new 3-month high on 11/13/09, confirming the preexisting bullish trend for the intermediate term. XLK/SPY is above 50- and 200-day simple moving averages, which are rising bullishly. XLK/SPY rose to its highest level in 7 years on 7/22/09, confirming the preexisting bullish trend for the long term.
Materials Neutral, Market Weight. The Relative Strength Ratio rose above the highs of the previous 8 weeks on 11/17/09. XLB/SPY is in bullish relative trends for the short, intermediate, and long terms. XLB/SPY has moved above 50- and 200-day simple moving averages, which are now rising bullishly.
Industrial Neutral, Market Weight. The Relative Strength Ratio rose above the highs of the previous 7 weeks on 11/16/09, again confirming the preexisting short-term uptrend. XLI/SPY is above 50- and 200-day simple moving averages, which are rising bullishly.
Consumer Staples Neutral, Market Weight. The Relative Strength Ratio has been underperforming for nearly a year, since11/20/08. XLP/SPY is below its 200-day simple moving average, which is falling bearishly. This defensive sector underperforms when investors feel more confident and seek greater risk, and it outperforms when investors move away from risk.
Energy Neutral, Market Weight. The Relative Strength Ratio fell below the lows of the previous 5 weeks on 11/12/09, confirming a short-term downtrend. XLE/SPY is below its 200-day simple moving average, which is falling bearishly. Longer term, it appears likely that XLE/SPY bottomed a year ago, on 10/16/08, and has been building a technical base over the past year.
Health Care Bearish, Underweight. The Relative Strength Ratio broke down below previous 8-day lows on 11/16/09. XLV/SPY broke down below previous 12-month lows on 10/22/09, which was a bearish signal for the longer term. XLV/SPY is below its 200-day simple moving average, which is falling bearishly.
Financial Bearish, Underweight. The Relative Strength Ratio fell further below the lows of the previous 15 weeks on 11/17/09, again confirming the preexisting bearish trend for the intermediate-term--and probably for the long-term as well. XLF/SPY is below its 50-day simple moving average, which is falling bearishly.
Utilities Bearish, Underweight. The Relative Strength Ratio fell further below previous 24-month lows on 11/17/09, again confirming the preexisting downtrends in all time frames. XLU has underperformed since 11/21/08, as the appetite for risk recovered.
Emerging Markets Stocks ETF Relative Strength Ratio surged to a 4-week high on 11/16/09 and looks bullish for the short-term. Longer term, EEM/SPY moved above previous 6-year highs on 10/14/09, confirming a major bull market trend.
Foreign Stocks ETF Relative Strength Ratio fell below the lows of the previous 11 weeks on 11/12/09, again confirming a preexisting downside correction for the intermediate term.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose to a 3-week high on 11/17/09, which is bullish for the short term. The Ratio remains below its falling 50-day simple moving average, however, so it is not in the clear.
Growth Stock/Value Stock Relative Strength Ratio rose further above the highs of the previous 13 weeks on 11/13/09, again confirming the preexisting bullish trend for the intermediate term. IWF/IWD was in a major long-term uptrend from 8/8/06 to 3/5/09, and it seems quite possible that uptrend could resume.
Russell 1000 Value ETF Relative Strength Ratio fell below the lows of the previous 15 weeks on 11/17/09, again confirming the preexisting bearish trend. IWD/SPY has underperformed since 9/18/09. Long term, IWD/SPY remains in a bearish trend, underperforming since 3/22/07.
The S&P 500 equally weighted index relative to the S&P 500 capitalization weighted index has been in an intermediate-term downtrend since 9/16/09. The ratio had been in a strong uptrend from 11/19/08 to 9/16/09. That uptrend may resume once the current downside correction is over.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio has been underperforming. OEX/SPX remains well below its peak set on 10/28/09, remains below its falling 200-day simple moving average, and has trended down for nearly a year, since the peak on 11/20/08.
The Small Cap/Large Cap Relative Strength Ratio fell further below the lows of the previous 6 months on 11/12/09, again confirming the preexisting bearish trend. IWM/SPY remains below its 50- and 200-day simple moving averages, which are falling bearishly.
The Mid Cap/Large Cap Relative Strength Ratio broke down to a new 13-week low on 11/2/09, indicating a downside correction. MDY/SPY is below its 50-day simple moving average, which is falling bearishly, but it is above its rising 200-day simple moving average. The major secular trend since 1999 remains bullish.
Crude Oil nearest futures contract price has recovered most of its mild loss over the past 4 weeks. Oil fell below the lows of the previous 4 weeks on 11/13/09, which should have been a bearish signal for the short term but might prove to be a false breakdown shakeout. Oil has been in a moderate downside correction since making a high of 82.00 on 10/21/09. Long term, Oil remains in a bullish major trend with upside objectives significantly above current levels. Potential support may be seen around the high of 75.00 set on 8/25/09. Oil made a 153% gain made from the low at 32.40 on 12/19/08 to the high of 82.00 on 10/21/09 and is considered relatively strong for the year.
Gold nearest futures contract price rose to another new all-time high of 1141.1 on 11/16/09, again confirming preexisting bullish trends in all time frames. Technical supports might be found around previous highs and lows at 1072.0, 1070.2, 1069.0, 1047.5, 1026.9, 1024.7, 982.2, 940.3, 931.5, 925.2 and 904.8, based on the nearest futures contract. There is no upside resistance, and big upside objectives are readable on the charts. Gold has been outperforming the S&P 500 since 8/24/09.
Gold Mining Stocks ETF Relative Strength Ratio rose to its highest level in nearly 4 weeks on 11/16/09, which is a bullish signal for the short term. The Ratio is above 50- and 200-day simple moving averages. It remains below the 14-month high set on 9/17/09, but not far below. The trend from the low set on 10/27/08 to high set on 9/17/09 was bullish for both Gold bullion and Gold Mining Stocks.
Silver/Gold Ratio rose further above the highs of the previous 3 weeks on 11/17/09, again confirming the short-term trend as bullish. The ratio peaked on 9/16/09 and had been in a moderate corrective trend until it made a low on 11/2/09. A rising trend of the Silver/Gold Ratio suggests growing confidence about global economic prospects, while a falling trend suggests doubts.
Copper nearest futures contract price broke out to a new 14-month high of 3.1090 on 11/16/09, confirming bullish trends in all time frames. Rising copper prices suggest growing confidence about global economic prospects, while falling copper prices suggest doubts.
U.S. Treasury Bond nearest futures contract price rose above the highs of the previous 5 weeks on 11/17/09, which should be bullish for the short term. The Bond found support around the previous lows of 117.10 set on 11/12/09 and 116.30 set on 8/24/09. On 8/7/09, Bonds found support at the upper end of the 112-115 zone of many previous reversal points .
Bond Quality Relative Strength Ratio fell below the lows of the previous 6 weeks on 11/16/09, again confirming the preexisting bearish trend. JNK/LQD has been in a downside corrective trend short term since 10/26/09. When JNK/LQD is weak, that indicates risk aversion. Long term, JNK/LQD rose to a new 12-month high on 10/23/09, indicating an increasing appetite for risk.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio rose to another new 13-month high on 11/9/09, again confirming a bullish long-term trend. Bond investors may be growing increasingly concerned about the inflation outlook, despite assurances of tame inflation by economists.
The U.S. dollar nearest futures contract price fell below the lows of the previous 15 months on 11/16/09, again confirming the preexisting bearish major trend.
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. So, Contrary Thinking should be used with more precise market timing tools.
Advisory Service Sentiment: There were 44.4% Bulls versus 26.7% Bears as of 11/11/09, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio was 1.66, down from 1.96 the previous week. The ratio was 2.61 on 8/26/09, the highest reading since 10/17/07. The ratio’s 39-year range is 0.28 to 17.51, the median is 1.43, and the mean is 1.73.
VIX Fear Index collapsed to 21.60 on 11/11/09 from a 16-week high of 31.84 on 11/2/09, indicating plunging levels of fear. VIX fell to a 13-month low of 20.10 on 10/21/09, indicating 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 collapsed to 22.09 on 11/17/09 from a 16-week high of 31.42 on 11/2/09, indicating plunging levels of fear. VXN fell to a 13-month low of 20.75 on 10/21/09, indicating 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 1.51 on 11/11/09, a level indicating bullish sentiment. The ratio’s 6-year mean is 1.41, its median is 1.36, and its range is 0.51 to 3.16.
CBOE Put/Call Ratio fell to 0.53 on 11/11/09, a level indicating bullish sentiment. The ratio’s 6-year mean is 0.66, its median is 0.64, and its range is 0.35 to 1.35.
Fundamentals: The 2003-2007 Bull Market was fed by abundant global liquidly, M&A, leveraged buyouts, corporate stock buybacks, and a net balance of positive earnings surprises. The unfolding fallout from the credit market crisis derailed that engine. Since the stock market low on 3/9/09, massive monetary and fiscal stimulation appears to have had a Bullish impact on investor sentiment.
The Dow Theory signaled a Primary Tide Bull Market on 7/23/09 when both the Dow-Jones Industrial Average the Dow-Jones Transportation Average closed above their May-June 2009 closing price highs. This reverses the previous 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 Cash Index Potential Resistance
1,576.09, high of 10/11/2007
1,552.76, high of 10/31/2007
1,523.57, high of 12/11/2007
1,498.85, high of 12/26/2007
1,440.24, high of 5/19/2008
1,406.32, high of 5/29/2008
1,381.50, Fibonacci 78.6% of 2007-2009 range
1,366.59, high of 6/17/2008
1,335.63, high of 6/25/2008
1,313.15, high of 8/11/2008
1,274.42, high of 9/8/2008
1,255.09, high of 9/12/2008
1,238.81, Fibonacci 78.6% of 1,576.09 high
1,228.74, Fibonacci 61.8% of 2007-2009 range
1,220.03, high of 9/25/2008
1,158.76, EW ABC measured move target
1,121.44, Fibonacci 50.0% of 2007-2009 drop
1,113.69, high of 11/16/2009
S&P 500 Cash Index Potential Support
1,066.83, high of 10/29/2009
1,029.38, low of 11/2/2009
1,019.85, low of 10/2/2009
1,014.14, Fibonacci 38.2% of 2007-2009 drop
1,007.78, Gann 37.5% of 2007-2009 range
998.80, Fibonacci 23.6% Retrace of 2009 range
991.97, low of 9/2/2009
992.72, Gann 25% Retrace of 2009 range
978.51, low of 8/17/2009
956.50, Dow 33.3% Retrace of 2009 range
956.23, high of 6/11/2009
935.35, Fibonacci 38.2% Retrace of 2009 range
930.17, high of 5/8/2009
884.08, Fibonacci 50% of 2009 range
869.32, low of 7/8/2009
826.83, low of 4/21/2009
832.80, Fibonacci 61.8% Retrace of 2009 range
814.53, low of 4/7/2009
813.62, high of 4/1/2009
779.81, low of 3/30/2009
775.43, Gann 75% Retrace of 2009 range
759.79, Fibonacci 78.6% Retrace of 2009 range
721.11, Gann 87.5% Retrace of 2009 range
666.79, intraday low of 3/6/2009
602.07, Fibonacci 38.2% of 1,576.09 high
Daily Rankings of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.50% Internet B2B H, BHH
1.73% Metals & Mining SPDR, XME
1.29% Brazil Index, EWZ
1.16% Materials SPDR, XLB
1.03% Canada Index, EWC
1.00% Basic Materials DJ US, IYM
0.91% Latin Am 40, ILF
0.88% Materials VIPERs, VAW
0.82% Bank Regional H, RKH
0.78% Telecommunications & Wireless, PTE
0.78% Networking, IGN
0.67% Silver Trust iS, SLV
0.66% Telecom DJ US, IYZ
0.64% Ultra Dow30 Double, DDM
0.62% Telecom Services VIPERs, VOX
0.61% Technology DJ US, IYW
0.60% Info Tech VIPERs, VGT
0.57% Semiconductor SPDR, XSD
0.57% Industrial LargeCap Blend DJ US, IYJ
0.54% Ultra QQQ Double, QLD
0.54% Bond, 20+ Years Treasury, TLT
0.52% Oil & Gas, PXJ
0.49% Commodity Tracking, DBC
0.48% Consumer Staples SPDR, XLP
0.48% Technology GS, IGM
0.47% Oil, Crude, U.S. Oil Fund, USO
0.47% Emerging 50 BLDRS, ADRE
0.45% Microcap Russell, IWC
0.45% Technology SPDR, XLK
0.45% Pharmaceuticals, PJP
0.43% Growth LargeCap NASDAQ Fidelity, ONEQ
0.39% Software H, SWH
0.38% LargeCap Blend Socially Responsible iS, KLD
0.33% Biotech SPDR, XBI
0.33% Value SmallCap iS M, JKL
0.33% Financial Services DJ, IYG
0.32% Value MidCap Dynamic PS, PWP
0.32% China LargeCap Growth G D H USX PS, PGJ
0.32% Nanotech Lux, PXN
0.32% DIAMONDS , DIA
0.31% Growth LargeCap NASDAQ 100, QQQQ
0.31% Leisure & Entertainment, PEJ
0.30% Gold Shares S.T., GLD
0.28% Lg Cap Growth PSD, PWB
0.28% Growth LargeCap iS M, JKE
0.27% Financial SPDR, XLF
0.27% Health Care SPDR, XLV
0.27% Bond, TIPS, TIP
0.26% LargeCap Rydex Rus Top 50, XLG
0.26% Internet Architecture H, IAH
0.24% Semiconductors, PSI
0.24% Value LargeCap iS M, JKF
0.24% Consumer Staples VIPERs, VDC
0.23% LargeCap Blend S&P 100, OEF
0.23% Value LargeCap Fundamental RAFI 1000, PRF
0.22% Semiconductor iS GS, IGW
0.22% Dividend Leaders, FDL
0.22% Bond, 10 Year Treasury, IEF
0.21% Ultra S&P500 Double, SSO
0.21% Telecom H, TTH
0.21% Transportation Av DJ, IYT
0.20% Wilshire 5000 ST TM, TMW
0.20% Preferred Stock iS, PFF
0.19% Financial Preferred, PGF
0.18% Growth 1000 Russell, IWF
0.18% LargeCap VIPERs, VV
0.18% United Kingdom Index, EWU
0.17% Financials VIPERs, VFH
0.16% Technology MS sT, MTK
0.16% Value Small Cap DJ, DSV
0.16% Dividend Achievers PS, PFM
0.15% Global Titans, DGT
0.15% Bond, Corp, LQD
0.14% Growth SmallCap iS M, JKK
0.14% Value SmallCap Russell 2000, IWN
0.14% LargeCap Blend S&P 1500 iS, ISI
0.14% Growth S&P 500/BARRA, IVW
0.13% Financial DJ US, IYF
0.13% Dividend High Yield Equity PS, PEY
0.13% Capital Markets KWB ST, KCE
0.13% Dividend SPDR, SDY
0.13% Short 200% MidCap 400 PS, MZZ
0.13% LargeCap Blend Total Market DJ, IYY
0.13% Growth LargeCap Russell 3000, IWZ
0.12% Value MidCap iS M, JKI
0.12% Short 100% MidCap 400, MYY
0.12% S&P 500 SPDRs LargeCap Blend, SPY
0.11% Health Care VIPERs, VHT
0.11% Blend Total Market VIPERs, VTI
0.10% Value VIPERs, VTV
0.10% Growth Large Cap, ELG
0.10% LargeCap 1000 R, IWB
0.09% Value Line Timeliness MidCap Gr, PIV
0.09% S&P 500 iS LargeCap Blend, IVV
0.09% Bond, Aggregate, AGG
0.08% Dividend Appreciation Vipers, VIG
0.08% Growth VIPERs, VUG
0.08% Consumer Non-Cyclical, IYK
0.07% Biotech H, BBH
0.07% Dividend International, PID
0.06% Value LargeCap Dynamic PS, PWV
0.06% Value S&P 500 B, IVE
0.06% Value SmallCap VIPERS, VBR
0.05% Software, IGV
0.05% LargeCap Blend Russell 3000, IWV
0.05% Healthcare DJ, IYH
0.03% Global 100, IOO
0.03% Pharmaceutical H, PPH
0.03% LargeCap Blend S&P=Weight R, RSP
0.03% OTC Dynamic PS, PWO
0.02% Bond, 1-3 Year Treasury, SHY
0.02% Dividend DJ Select, DVY
0.00% Value LargeCap Russell 3000, IWW
0.00% Utilities, PUI
0.00% SmallCap Russell 2000, IWM
-0.01% Value LargeCap NYSE 100 iS, NY
-0.01% Value LargeCap Euro STOXX 50 DJ, FEU
-0.01% MidCap S&P 400 iS, IJH
-0.02% LargeCap Blend NYSE Composite iS, NYC
-0.02% MidCap S&P 400 SPDRs, MDY
-0.02% Growth SmallCap VIPERs, VBK
-0.02% SmallCap Core iS M, JKJ
-0.02% Bond, High-Yield Corporate, HYG
-0.03% Natural Resource iS GS, IGE
-0.04% Small Cap VIPERs, VB
-0.04% Semiconductor H, SMH
-0.05% Growth SmallCap R 2000, IWO
-0.05% LargeCap Blend Core iS M, JKD
-0.05% Software, PSJ
-0.05% Value 1000 Russell, IWD
-0.05% Growth BARRA Small Cap 600, IJT
-0.07% Food & Beverage, PBJ
-0.07% Belgium Index, EWK
-0.09% Internet H, HHH
-0.09% Growth MidCap 400 B, IJK
-0.09% SmallCap S&P 600, IJR
-0.10% MidCap Growth iS M, JKH
-0.11% Value MidCap S&P 400 B, IJJ
-0.11% Technology Global, IXN
-0.11% Short 100% S&P 500, SH
-0.12% Spain Index, EWP
-0.12% Aerospace & Defense, PPA
-0.12% Value Large Cap DJ, ELV
-0.13% Energy VIPERs, VDE
-0.13% Value S&P 500, RPV
-0.13% Developed 100 BLDRS, ADRD
-0.14% Growth MidCap Russell, IWP
-0.14% Growth Small Cap DJ, DSG
-0.14% Healthcare Global, IXJ
-0.15% Growth S&P 500, RPG
-0.16% Asia 50 BLDRS, ADRA
-0.16% LargeCap Blend Dynamic PS, PWC
-0.17% Growth SmallCap Dynamic PS, PWT
-0.17% Extended Mkt VIPERs, VXF
-0.17% MidCap VIPERs, VO
-0.17% Energy SPDR, XLE
-0.17% Industrials VIPERs, VIS
-0.17% MidCap Russell, IWR
-0.18% Industrial SPDR, XLI
-0.22% Insurance, PIC
-0.22% Value SmallCap Dynamic PS, PWY
-0.22% Ultra MidCap400 Double, MVV
-0.23% Value SmallCap S&P 600 B, IJS
-0.23% Energy DJ, IYE
-0.23% Growth Mid Cap Dynamic PS, PWJ
-0.24% Utilities DJ, IDU
-0.24% Value 40 Large Low P/E FT DB, FDV
-0.24% Energy Exploration & Prod, PXE
-0.27% Austria Index, EWO
-0.28% Short 200% S&P 500 PS, SDS
-0.28% China 25 iS, FXI
-0.29% Short 100% QQQ, PSQ
-0.30% Value MidCap Russell, IWS
-0.32% Utilities VIPERs, VPU
-0.32% Short 100% Dow 30, DOG
-0.33% Financials Global LargeCap Value, IXG
-0.36% Emerging Markets, EEM
-0.36% Emerging VIPERs, VWO
-0.38% Growth MidCap S&P 400, RFG
-0.39% Short 200% Bond 7-10 Yr T, PST
-0.40% Consumer Cyclical DJ, IYC
-0.43% Energy Global, IXC
-0.44% MidCap Blend Core iS M, JKG
-0.46% Utilities H, UTH
-0.46% Growth EAFE MSCI, EFG
-0.46% Telecommunications Global, IXP
-0.47% SmallCap PS Zacks, PZJ
-0.47% European VIPERs, VGK
-0.54% Water Resources, PHO
-0.54% Malaysia Index, EWM
-0.54% Utilities SPDR, XLU
-0.54% Consumer D. VIPERs, VCR
-0.54% South Korea Index, EWY
-0.54% Retail, PMR
-0.55% India Earnings WTree, EPI
-0.55% Mexico Index, EWW
-0.56% France Index, EWQ
-0.56% EMU Europe Index, EZU
-0.61% Europe 350 S&P Index, IEV
-0.61% Hong Kong Index, EWH
-0.62% IPOs, First Tr IPOX-100, FPX
-0.63% Euro STOXX 50, FEZ
-0.64% Micro Cap Zachs, PZI
-0.65% Internet Infrastructure H, IIH
-0.66% EAFE Index, EFA
-0.67% Oil Services H, OIH
-0.70% Germany Index, EWG
-0.71% Value SmallCap S&P 600, RZV
-0.72% Japan LargeCap Blend TOPIX 150, ITF
-0.72% Short 200% QQQ PS, QID
-0.73% Short 200% Dow 30 PS, DXD
-0.76% Netherlands Index, EWN
-0.77% South Africa Index, EZA
-0.79% Homebuilders SPDR, XHB
-0.79% Value EAFE MSCI, EFV
-0.81% Consumer Discretionary SPDR, XLY
-0.91% Italy Index, EWI
-0.93% Switzerland Index, EWL
-0.94% Short 200% US T Bond, TBT
-0.95% Singapore Index, EWS
-0.96% Biotech & Genome, PBE
-0.98% Retail H, RTH
-1.05% WilderHill Clean Energy PS, PBW
-1.07% Europe 100 BLDRS, ADRU
-1.08% Pacific ex-Japan, EPP
-1.14% Japan Index, EWJ
-1.25% Pacific VIPERs, VPL
-1.28% Sweden Index, EWD
-1.41% Building & Construction, PKB
-1.43% Real Estate US DJ, IYR
-1.51% Australia Index, EWA
-1.67% Realty Cohen & Steers, ICF
-1.73% REIT Wilshire, RWR
-1.74% REIT VIPERs, VNQ
-3.28% Taiwan Index, EWT









