During the last week of trading, it was the Vanguard FTSE Emerging Markets ETF (VWO) that pushed ahead of the other major market funds, gaining 2.33% on the week.
Portfolio View - Major Market ETFs
| Symbol | Name | Price | Yield | Trend | RS Signal | RS Col. | Score | 200 Day MA | Weekly Mom |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | 209.95 | 2.19 | Positive | X | 3.37 | 195.23 | +3W | |
| EFA | iShares MSCI EAFE ETF | 65.99 | 2.68 | Positive | Sell | O | 3.40 | 59.63 | +3W |
| FRN | Guggenheim Frontier Markets ETF | 13.62 | 3.45 | Negative | Sell | O | 3.08 | 12.18 | +3W |
| IJH | iShares S&P MidCap 400 Index Fund | 172.53 | 1.53 | Positive | Buy | X | 4.22 | 163.43 | +4W |
| IJR | iShares S&P SmallCap 600 Index Fund | 69.28 | 2.13 | Positive | Buy | X | 4.80 | 65.91 | +4W |
| QQQ | PowerShares QQQ Trust | 139.62 | 0.87 | Positive | Buy | X | 5.83 | 123.38 | +4W |
| RSP | Guggenheim S&P 500 Equal Weight ETF | 91.45 | 1.08 | Positive | Buy | X | 4.83 | 86.90 | +3W |
| SPY | SPDR S&P 500 ETF Trust | 240.08 | 1.88 | Positive | O | 3.16 | 225.29 | +3W | |
| VWO | Vanguard FTSE Emerging Markets ETF | 41.35 | 2.21 | Positive | Sell | O | 4.45 | 38.02 | +1W |
| XLG | Guggenheim S&P 500 Top 50 ETF | 170.57 | 1.82 | Positive | O | 3.38 | 159.02 | +3W |
Despite the sell off we are experiencing today, the last week of market activity has been generally positive, with eight of the major market ETFs moving higher and just two falling (from 5/9 - 5/16). The biggest upside movers, all gaining over +1%, were the international focused funds in the list: EFA, FRN, and VWO. It was the Vanguard FTSE Emerging Markets ETF VWO that pushed ahead of the others, up 2.33% on the week.
It is no secret that International Equities as a whole have asserted leadership over the last several months, with the Emerging Market segment to thank in large part. A look at the 0.25-point trend chart of VWO below reveals a bullish pattern of higher tops and higher bottoms that has persisted for about five months. It is currently trading at levels not seen in about two years, and does so with a solid fund score of 4.45. In fact, as you will read below, the Emerging Markets Diversified group score sits at the top of all Macro Groups, with an average score of 4.22. In addition, the recent change back to positive weekly momentum, after ten weeks on the negative side, suggests the potential for additional upside within this segment, especially in the coming weeks.
