Sunday, October 20, 2013

Sector & Group Rotation Notes – 10/20/13



Listed below are notes from the author's weekly analysis.

The Sector Trends blog does not make forecasts and does not cheerlead with its commentary. The perspective offered is on current trends in the market, which sectors and groups are rotating, and which stocks from these groups are likely to perform best in a neutral/positive environment. Readers need to provide their own assessment of market health, employ their own risk management strategies, and trade accordingly. In a declining market nearly all equities will suffer, including those found listed here. 

All data and charts displayed here are the property of MarketSmith, and are published here with their permission. 

Market Overview:

The table below shows price performance for key markets and sectors over the trailing 26 weeks, and is sorted high to low by 5 week performance. The green and red shading denotes relative performance +/- to the SP 500 for the time period in question.

Index
1 Week Gain
2 Week Gain
3 Week Gain
5 Week Gain
13 Week Gain
26 Week Gain
Pboe Oil Service Index
3.4%
3.5%
6.0%
6.3%
6.0%
22.1%
Russell 2000
2.8%
3.4%
3.8%
5.8%
6.1%
22.2%
Nasdaq Composite
3.2%
2.8%
3.5%
5.2%
9.1%
22.1%
Dow Jones Transportation Index
2.7%
3.3%
3.5%
4.7%
3.7%
13.2%
Philadelphia Utility Index
0.7%
3.4%
2.7%
3.9%
-3.1%
-6.8%
Philadelphia Semiconductor Index
1.8%
1.8%
3.2%
3.7%
4.2%
21.5%
S&P 500
2.4%
3.2%
3.1%
3.3%
3.1%
12.2%
Cboe Technology Index
0.5%
1.7%
1.8%
3.1%
7.1%
16.5%
KBW Large Cap Bank Index
3.1%
4.0%
5.0%
2.9%
-0.8%
19.5%
Russell 1000 Energy Index
1.6%
2.2%
2.4%
2.6%
1.9%
13.7%
Philadelphia Housing Index
1.4%
1.8%
-0.1%
1.7%
-2.8%
0.7%
DJIA
1.1%
2.2%
0.9%
0.2%
-0.9%
5.9%
Philadelphia Gold/Silver Index
6.2%
2.0%
-1.7%
-3.7%
-2.8%
-10.4%


This blogs last post three weeks ago noted "The circus in Washington will probably introduce volatility, and could result in lower prices early in the week. But investor response to date has been muted, suggesting a “been there, done that” perspective on events, suggesting any pullback will be temporary. This is a strong bull market and until the data suggests otherwise, it appears the trend is higher. Investors focused on stocks with RS > 90 should perform well."

As readers know this view has since been proven accurate, as the Washington standoff was finally resolved and the markets powered higher. Last week the Nasdaq led with a 3.2% gain, followed by the Russell 2000 +2.8%, S&P 500 +2.4%, and DJIA +1.1%. For months now this blog has been highlighting the thirst for growth issues, and this is evidenced by the outperformance of the Nasdaq and Russell 2000 over all time periods in the table above.

The statement that "Investors focused on stocks with RS > 90 should perform well." has also been proven accurate. The Sector Trends blog tracks 2,100 of the market’s most liquid stocks, and the table below shows how these have performed over the past 3 weeks when sorted by RS tier. The RS ratings are as of 9/29 (hence forward looking):

Stock Performance 9/29 - 10/18
RS Tier:
Gain:
90 - 99
4.6%
80 - 89
4.0%
50 - 79
3.3%
20 - 49
2.9%
1 - 19
0.9%
Grand Total
3.1%

In recent posts the blog has noted that the best performing stocks were those from the highest RS tier, but also from the lowest (1 - 19) EPS tier; i.e. the most speculative stocks had been the best performers. Over the past 3 weeks this has changed; the table below takes a closer look at the performance of the two highest RS tiers, breaking them out by EPS tier. As the table demonstrates investors are now favoring a more conventional preference for high RS combined with at least some earnings. In the author's opinion this is healthier, and more sustainable.


RS 80-99 Performance 9/29 - 10/18

RS/EPS Tier:
Gain:

RS 90 - 99
4.6%
EPS
90 - 99
3.4%
80 - 89
6.3%
50 - 79
5.8%
20 - 49
6.9%
1 - 19
0.5%

RS 80 - 89
4.0%
EPS
90 - 99
4.9%
80 - 89
4.3%
50 - 79
4.0%
20 - 49
3.6%
1 - 19
1.5%

Grand Total
4.3%

Weekly results were also helped along by investor's enthusiastic reception to earnings results. Top earnings winners for the week included Align Technology +33.7%, Athena Health +19.5%, Google +16%, Chipotle Mexican Grill +14.9%, United Rentals +12.4%, Baker Hughes +10.6%, and Sandisk +10.6%.

The preference for high RS demonstrated over the trailing 3 weeks was also evident in investor reaction to earnings results. The table below breaks out results by RS tier for the 250 companies reporting last week; 178 (71.2%) showed a gain (win) for the week.

250 Companies Reporting Earnings 10/14 - 10/18
RS Tier:
Weekly Gain
# Reporting
% Wins
90 - 99
4.9%
17
76.5%
80 - 89
4.4%
34
82.4%
50 - 79
2.2%
116
70.7%
20 - 49
1.9%
67
70.1%
1 - 19
-0.8%
16
50.0%
Grand Total
2.4%
250
71.2%

793 companies are scheduled to report next week including Microsoft, A T & T, Amazon, McDonalds, Boeing, Amgen, Ford, Celgene, EMC, Vmware, Halliburton, Netflix, Nu Skin, Cree, Lumber Liquidators, TripAdvisor, Lithia Motors and numerous others.

A broader view of industry group performance shows a continued absence of defensive rotation, and a slight preference for commodity oriented groups. The tables below show commodity, technology and defensively related group's price performance over the trailing 1, 2, 3, 5, 13 and 26 week periods.

 30 Commodity Oriented Groups:
1 wk
2 wk
3 wk
5 wk
13 wk
26 wk
# in the top 50 groups (out of 197)
10
6
10
9
7
6
# in the bottom 50 groups (out of 197)
7
6
6
8
5
10

28 Technology Oriented Groups:
1 wk
2 wk
3 wk
5 wk
13 wk
26 wk
# in the top 50 groups (out of 197)
6
6
7
9
13
13
# in the bottom 50 groups (out of 197)
10
11
11
9
4
3

30 Defensively Oriented Groups:
1 wk
2 wk
3 wk
5 wk
13 wk
26 wk
# in the top 50 groups (out of 197)
6
11
10
6
5
2
# in the bottom 50 groups (out of 197)
7
6
4
7
13
14

To summarize, the market continues to exhibit robust strength and investor's are pursuing those stocks which they perceive as having the best growth potential. Reader's who focus on high relative strength (RS) stocks with decent EPS should outperform.

Industry Group Performance:

China: The August 11, August 25, and September 15 blog posts discussed the improving Chinese and euro-zone economic data, and this past Thursday evening brought news that China’s third quarter gross domestic product grew 7.8% from a year earlier, compared  with 7.7% in the first quarter and 7.5% in the second.

Oddly, this improved economic performance is having a muted effect on most China focused ETFs (more on the this in the "Global" section below) but seems to be supercharging the performance of US listed Chinese ADRs.

The table below lists the trailing 3 week performance of ADR's for countries with 5 or more liquid ADRs listed on US exchanges. Obviously companies based in China and India are outperforming:

ADR Performance 9/29 - 10/18
Country:
Gain:
# of listings:
INDIA
11.1%
7
CHINA
10.0%
26
GREECE
7.8%
6
BRAZIL
5.7%
21
NETHERLANDS
4.7%
19
LUXEMBOURG
3.3%
6
UNITED KINGDOM
3.2%
20
SWITZERLAND
2.5%
15
BERMUDA
2.0%
28
ISRAEL
0.4%
7
MEXICO
0.4%
6
KOREA
0.0%
5
JAPAN
-0.1%
9
IRELAND
-1.6%
14
Grand Total
4.0%
189

Nq Mobile (NQ) leapt higher Thursday and Friday last week and looks ready for more. A/D "B+", 50 day up down volume 1.4, RS 99, EPS 99, and analyst's forecast FY '13 EPS +59%, FY '14 +27%.



Qihoo 360 (QIHU) was highlighted in the June 9 blog post and has since doubled. QIHU gained 14% last week and although volume for the week was 4% below its 50 day average, volume on Friday when it gained 8% was 39% above average. QIHU looks headed higher.



Youku Tudou (YOKU) is starting to see significant accumulation on its weekly chart. A/D rating is "B", and last quarter institutional sponsorship increased from 161 to 191 funds (+19%). YOKU has had 8 consecutive quarters of +80% sales growth. Weekly chart:



Kongzhong (KONG) has retraced its breakout back to the 10.50 area. The pullback has occurred in volume significantly lower than the previous rally higher, and over the past week saw its A/D rank improve from "C" to "C+". KONG is not showing imminent signs of appreciation, but given the strength in Chinese names its worth setting an alert on the descending trend line as shown in the chart below.



Building: There's an interesting dichotomy developing in the performance of building related stocks as shown in the table below. Heavy construction is performing while most groups related to domestic residential construction continue to suffer.



Price

MarketSmith
Industry Group
Symb.
3 Week Gain
3 Week Rank

Ind. Group Rank
3   week Δ
Bldg-Heavy Construction
G1621
6.0%
26

83
71
Bldg-Wood Prds
G2400
5.7%
32

153
38
Bldg-Mobile/Mfg & Rv
G3791
5.2%
41

7
6
Chemicals-Paints
G2851
4.9%
49

155
-14
Bldg-A/C & Heating Prds
G3585
1.5%
148

122
-13
Bldg-Constr Prds/Misc
G3299
0.7%
163

99
-16
Bldg-Resident/Comml
G1520
0.3%
164

192
5
Bldg-Cement/Concrt/Ag
G8074
-1.8%
186

151
5
Bldg-Hand Tools
G3548
-3.0%
192

116
-15

Fluor (FLR) is likely to be a slow mover but could be of interest as it breaks into new highs on the weekly chart:



Mastec (MTZ) has broken higher though a descending trendline and is showing short term accumulation with a "B" A/D rating, the 50 day up/down volume is 1.2 but the 25 day ratio is 1.7. For the moment MTZ's RS rating is too low to spark interest but MTZ could be worth a look after earnings Thursday 10/31.



Foreign Banks: The Sector Trends blog first pointed out the move in the Banks-Foreign group (G1440) in the September 9 blog post writing the group "has a MarketSmith industry group rank of 192, and ranks #191 on the trailing 26 week price performance list with a 13.7% loss. This may have begun to change this past week as the group finished #2 on the 1 week price performance list with a 6% gain. A review shows a number of constituent banks showing strong accumulation." Grupo Financiero Galicia S.A. (GGAL) was highlighted in this blog post and has since gained 45%.

Since that time the group has continued to perform, and ranks #8 on the trailing 5 week price performance list with an 11.5% gain and has jumped +54 in MarketSmith's industry group rankings over the same 5 week period to rank #135 overall.

HDFC Bank (HDB) is an Indian bank seeing heavy accumulation. The A/D is "B+" with a 50 day up/down volume ratio of 1.6. HDB looks like a buy on a solid break above 35 with volume.



National Bank of Greece (NBG) is showing very strong levels of accumulation. A/D is "A-", 50 day up/down volume ratio is 1.7, the 25 day ratio is 1.9. As shown in the Global section below Greece is the best performing country ETF tracked by the Sector Trends blog, +46% over the trailing 13 weeks.



Business Services: A number of business services related groups are showing significant short term strength as shown in the table below. The groups are sorted by 3 week price performance.




Price

MarketSmith
Industry Group
Symb.
RS NH
3 Week Gain
3 Week Rank

Ind. Group Rank
3 week Δ
Bldg-Maintenance & Svc
G7340
0
11.0%
4

96
64
Comml Svcs-Staffing
G1011
1
6.9%
13

43
26
Comml Svcs-Healthcare
G3441
0
6.6%
18

44
23
Security/Sfty
G3999
0
5.2%
39

84
-7
Comml Svcs-Outsourcing
G1001
1
4.6%
60

25
13
Comml Svcs-Consulting
G8242
0
4.3%
70

33
-14
Comml Svcs-Doc Mgmt
G2751
0
3.4%
93

46
-16
Computer-Tech Services
G7392
0
2.6%
117

16
12
Comml Svcs-Advertising
G7310
0
2.6%
119

38
5
Comml Svcs-Market Rsrch
G8244
0
1.7%
143

74
-12

Federal Signal (FSS) has a nice volatility squeeze break out in process and is under heavy accumulation.  FSS looks like it could be a buy on any short term weakness.



This TC2000 chart shows the volatility squeeze:



Team Health Holdings was featured in both the December 30 and August 11  blog posts, and this past Wednesday broke out of the flat base highlighted in the August 11 post. TMH looks like a buy on any weakness pulling it back into the 5% buy zone.



Energy: The Sector Trends blog has highlighted the energy sector numerous times this year, and over the past 3 weeks groups related to domestic energy production are once again performing at a very high level. Recent names highlighted by the blog have also done well: Sunpower (SPWR) and Rexx Energy (REXX) from the September 29 blog are +28.3% and +13.1% respectively, and Triangle Petroleum (TPLM) from the September 9 post is +49.7%.

The table below the sorts the groups by trailing 3 week price performance. Note the RS line for the 4 top ranked groups is at a new high, as well as the hefty increases in MarketSmith industry group rank over the same 3 week time period.




Price

MarketSmith
Industry Group
Symb.
RS NH
3 Week Gain
3 Week Rank

Ind. Group Rank
3     week   Δ
Energy-Solar
G1320
1
35.0%
1

2
35
Oil&Gas-U S Expl&Prod
G1310
1
11.0%
5

4
16
Oil&Gas-Machinery/Equip
G3533
1
6.9%
14

27
45
Oil&Gas-Field Services
G1380
1
5.6%
33

45
35
Oil&Gas-Drilling
G1381
0
5.2%
43

104
33
Oil&Gas-Refining/Mktg
G2900
0
4.7%
56

178
-4
Oil&Gas-Intl Expl&Prod
G1315
0
4.7%
58

105
26
Energy-Coal
G1319
0
3.8%
84

175
4
Oil&Gas-Cdn Expl&Prod
G1312
0
3.2%
100

130
39
Energy-Alternative/Other
G1318
0
2.5%
123

36
0
Oil&Gas-Royalty Trust
G1311
0
2.4%
130

174
-3
Oil&Gas-Transprt/Pipelne
G4922
0
2.0%
140

169
-17
Oil&Gas-Integrated
G1317
0
0.1%
167

152
-10

Parker Drilling (PKD) burst higher Friday gaining 8.6% on volume 87% above its 50 day average. PKD is seeing accumulation with a "B+" A/D rank and 50 day up/down volume ratio of 1.3. Analysts forecast FY '14 EPS +71% to 0.65 per share giving PKD a forward PE of ~ 10.8. PKD is extended beyond its upper Bollinger Band here but could be a buy when it dips back inside the band.



Oceaneering International (OII) jumped 4% on Friday in volume 80% above average. OII is seeing significant accumulation with a "B+" A/D rating, and a 50 day up/down volume ratio of 1.4. Institutional sponsorship has increased 705 > 774 > 827 > 844 over the past 4 quarters. OII trades at 27 times earnings, and analysts forecast FY '13 EPS +27%, FY '14 +19%.



Hornbeck Offshore Services (HOS) was highlighted in the February 3 blog post at 38.62. HOS has since gained 53% and looks to be setting up again. HOS is seeing some accumulation with a "B-" A/D rank and 50 day up/down volume of 1.2. Analysts forecast FY '13 EPS +120%, FY '14 +78%.



Green Plains Renewable Energy (GPRE) is seeing significant short term accumulation and looks like its ready to move higher out of a volatility squeeze. A/D rank "B", 50 day up/down volume 1.3, RS 94, EPS 78. GPRE trades at 14 times earnings, and analysts forecast FY '13 EPS +103%, FY '14 +49% giving GPRE a forward PE of ~ 11 using FY '14 estimates.



This TC2000 chart shows the Bollinger Band squeeze.



Furmanite (FRM) is a little thin averaging only 165K in daily trade, however the tight trading seen on the chart below suggests the next move will be higher. FRM is seeing very heavy accumulation with an "A-" A/D rank and 50 day up/down volume ratio of 3.3. Analysts forecast FY '13 EPS +800%, FY '14 +31%.



Commercial Services: The Comml Svcs-Leasing group (G7394) is showing significant price strength ranking #12 on the trailing 5 week price performance list and gaining +61 in MarketSmith's industry group rankings to #107 over the same time period.

United Rentals (URI) gained 12.4% last week on 2x average volume last week after it received favorable coverage in a popular investor newspaper and Susquehanna raised its price target to $80 from $67. URI is extended beyond its upper Bollinger Band here but looks like a buy on a pullback inside the band.



This TC2000 chart shows the Bollinger Bands.



Aircastle (AYR) broke out on Friday gaining 3.7% on volume 48% above average. AYR is seeing solid accumulation with a "B+" A/D rank, 50 day up/down volume ratio of 1.4. Institutional sponsorship had stagnated at ~ 255 for six quarters before increasing 255 > 292 > 306 over the last 3 quarters. RS 82, EPS 62. AYR is just now breaking higher out of a volatility squeeze.



This TC2000 chart shows the Bollinger Band squeeze.



Air Lease (AL) is another name from the group showing heavy accumulation. A/D "B", 50 day up/down volume ratio 1.8, 25 day ratio 2.1. Pivot ~ 28.90.



Healthcare: Industry groups from the Healthcare sector have made a pronounced move over the past 3 weeks, perhaps as a consequence of 0 "winning" the 0bamacare defunding skirmish. Regardless of the reason, this performance indicates its worth giving names from the sector a look. The table below sorts groups from the sector by trailing 3 week price performance.



Price

MarketSmith
Industry Group
Symb.
3 Week Gain
3 Week Rank

Ind. Group Rank
3 week   Δ
Medical-Hospitals
G8060
10.0%
6

134
32
Medical-Whlsle Drg/Suppl
G5022
8.7%
7

70
19
Medical-Diversified
G1005
7.5%
11

183
2
Medical-Systems/Equip
G3831
6.6%
17

26
20
Medical-Long-Term Care
G8059
6.2%
23

176
8
Medical-Outpnt/Hm Care
G1031
5.4%
37

54
32
Medical-Ethical Drugs
G2830
5.2%
40

29
-6
Medical-Supplies
G3840
5.0%
47

139
-3
Medical-Products
G2831
4.8%
54

81
-6
Medical-Generic Drugs
G8064
3.4%
91

66
-42
Medical-Research Eqp/Svc
G8058
2.3%
131

82
-14
Medical-Services
G1044
1.3%
151

93
-22
Medical-Managed Care
G8061
-0.5%
176

106
-59
Medical-Biomed/Biotech
G8063
-3.4%
194

5
-1

Santarus (SNTS) was a strong performer for most of the year but has spent the last 10 weeks consolidating. SNTS A/D rating is only a "B-" but institutional sponsorship gains have been robust with the number of funds increasing 190 > 223 > 282 > 302 over the past 4 quarters. SNTS trades at 28x earnings and analysts forecast FY '13 EPS +205%, FY '14 +24%. SNTS looks like a buy on a solid break of the trendline below.



This TC2000 chart shows SNTS about to leave a Bollinger Band squeeze.



ICON plc (ICLR) is under heavy accumulation with an A/D rank of "A", 50 day up/down volume ratio of 1.2, and a 25 day ratio of 1.7. Institutional sponsorship has increased 130 > 194 > 203 > 239 > 246 over the past 5 quarters. ICLR looks like a buy at current levels.



Illumina (ILMN) saw heavy buying on that last dip below the 50 day. Set your alert at ~ 83 and see how it looks when it goes off.



Software: The Sector Trends March 3rd blog post pointed out the emerging performance of software related groups, at a time when not a single software group was ranked in the top 100 of MarketSmith's industry group rankings; and chronicled the improving performance regularly over the following months. Today there are 7 software groups ranked in the top 60 of MarketSmith's rankings.

Unfortunately all good things must end, and it appears this move is running out of steam. The table below sorts software related groups by trailing 3 week price performance, and it could be time for a rest...



Price

MarketSmith
Industry Group
Symb.
3 Week Gain
3 Week Rank

Ind. Group Rank
3   week Δ
Computer Sftwr-Medical
G3069
13.3%
2

53
-3
Computer Sftwr-Edu/Media
G3357
3.8%
83

18
3
Computer Sftwr-Enterprse
G3583
3.3%
99

13
-1
Computer Sftwr-Financial
G2821
2.5%
122

76
15
Comp Sftwr-Spec Enterprs
G2761
0.9%
160

8
-2
Computer Sftwr-Design
G3575
0.2%
166

131
-2
Computer Sftwr-Security
G3220
-0.2%
172

57
-39
Computer Sftwr-Database
G3582
-0.6%
178

48
1
Computer Sftwr-Gaming
G3584
-1.0%
181

39
-22
Computer Sftwr-Desktop
G3270
-1.0%
182

144
-31

Global: As mentioned above numerous country specific ETFs are outperforming US indexes. The table below lists the country ETFs tracked by the sector trends blog, and includes domestic ETFs representing the Russell 2000, Nasdaq 100 and S&P 500 for comparison purposes (these are highlighted in yellow). The table is sorted by trailing 5 week price performance.

Symbol
Type 2
Yield
RS New High
RS
1     Week Gain
2     Week Gain
3     Week Gain
5       Week Gain
13 Week Gain
GREK
Greece
0.1
0
86
8.4%
11.5%
16.9%
22.8%
46.4%
EWP
Spain
3.2
1
82
4.8%
7.4%
11.0%
16.2%
33.0%
EWI
Italy
2.0
0
75
3.1%
6.4%
10.8%
13.9%
25.3%
TUR
Turkey
1.9
0
18
2.7%
3.0%
8.5%
11.9%
0.1%
EPOL
Poland
2.8
0
62
0.8%
5.2%
6.3%
9.8%
17.1%
EWZ
Brazil 
2.7
0
36
1.9%
4.5%
5.8%
8.6%
16.0%
INDY
India
0.4
0
23
1.2%
4.6%
10.4%
8.6%
0.6%
THD
Thailand
2.3
0
31
2.0%
4.8%
8.0%
8.5%
2.7%
EPHE
Philippines
0.9
0
29
0.5%
3.2%
5.7%
8.5%
-1.5%
EIDO
Indonesia
1.7
0
8
3.0%
7.1%
10.0%
7.5%
-11.0%
EWK
Belgium
2.4
0
64
4.2%
4.6%
4.9%
7.2%
13.7%
EWA
Australia
5.3
0
50
3.8%
4.9%
5.0%
7.1%
14.2%
EWG
Germany
1.5
0
66
2.4%
3.5%
3.4%
6.9%
10.7%
EWQ
France
2.4
0
69
2.3%
3.7%
3.4%
6.7%
13.4%
ERUS
Russia
2.5
0
44
1.8%
4.3%
5.2%
6.7%
8.9%
EWY
South Korea
0.6
0
62
2.6%
4.8%
5.4%
6.6%
19.3%
EWO
Austria
1.7
0
64
3.1%
2.8%
2.7%
6.6%
16.7%
EWM
Malaysia
2.3
0
40
0.9%
1.3%
5.3%
6.2%
1.6%
EWS
Singapore
4.2
0
38
1.4%
3.5%
2.4%
6.1%
4.8%
EWH
Hong Kong
2.7
0
50
0.9%
1.5%
2.5%
5.7%
10.7%
IWM
Russell 2000
1.5
0
69
2.8%
3.4%
3.9%
5.6%
6.1%
QQQ
Nasdaq 100
1.2
1
68
3.7%
3.5%
3.9%
5.2%
10.1%
EZA
South Africa
2.6
0
50
2.6%
3.7%
6.2%
5.2%
14.7%
EWN
Netherlands
1.4
0
66
2.8%
2.9%
3.2%
4.3%
9.9%
EWL
Switzerland
1.9
0
56
2.8%
2.6%
1.4%
4.3%
6.6%
EWJ
Japan
1.2
0
58
1.2%
2.9%
0.5%
4.1%
1.1%
EWT
Taiwan
1.9
0
52
0.4%
0.8%
4.3%
4.1%
8.4%
EWC
Canada
2.3
0
40
2.4%
3.1%
2.6%
4.0%
4.6%
ECH
Chile
1.4
0
11
0.5%
-0.4%
0.5%
3.2%
-0.2%
IVV
S&P 500
1.9
0
56
2.4%
3.3%
3.2%
3.0%
3.0%
EWD
Sweden
2.9
0
58
2.2%
2.5%
1.2%
2.5%
6.9%
EWU
UK
2.6
0
52
2.9%
3.3%
2.1%
2.2%
6.7%
MCHI
China
2.1
0
48
-0.4%
0.8%
2.3%
1.2%
13.5%
EPU
Peru
3.7
0
14
3.3%
6.2%
4.8%
1.0%
7.8%
EWW
Mexico
1.0
0
21
-0.4%
0.8%
1.4%
0.1%
-0.8%
FXI
China
2.4
0
42
-0.5%
0.4%
1.3%
-0.2%
13.1%






















No comments:

Post a Comment