FRIDAY, SEPTEMBER 3, 2010 AT 01:29PM
Below we highlight the year to date performance of the major stock market indices for 82 countries around the world. The average year to date change for all 82 countries is 5.39%, while the median change is 2.23%. The S&P 500's year to date change of -1.24% is obviously below both of these. The US currently ranks 53rd out of 82 in terms of 2010 performance. At the top of the list is Sri Lanka with a 2010 gain of 73.69%. Bangladesh ranks second at 49.37%, followed by Estonia (41.94%), Ukraine (40.86%), and Latvia (40.26%).
India has been the best performing BRIC country so far this year with a gain of 4.33%. Russia ranks second at 1.42%, Brazil ranks third at -2.43%, and China is down the most at -18.97%. Canada is currently the top G7 country with a gain of 3.26%. Germany and Britain are the other two G7 countries that are up year to date, while Japan is the G7 country that is down the most year to date (-13.58%). Overall, Bermuda has seen the biggest losses this year with a decline of 38.25%. Greece is the second worst at -24.56%.
Key ETFs Farthest Above 50-Day Moving Averages
FRIDAY, SEPTEMBER 3, 2010 AT 10:23AM
Below we highlight the key ETFs that we follow that are currently trading the farthest above their 50-day moving averages. As shown, the Internet stock ETF (HHH) is currently on top of the list at 10.31% above its 50-day. Malaysia (EWM) ranks second at 9.29%, followed by Base Metals (DBB), Australia (EWA), and then REITs (IYR). A lot of times we'll see ETFs from one asset class clustered at the top of the most overbought list, but it is currently pretty diverse.
Below is a chart of the Internet ETF (HHH) that is currently trading 10% above its 50-day. As shown, the ETF has made a huge move over the last four days. We also provide a table of the stocks that make up HHH. As shown, Amazon.com (AMZN) and eBay (EBAY) collectively make up about 60% of the ETF. Both have been soaring lately and are now trading more than two standard deviations above their 50-days. They're the reason HHH has done what it has done this week.
