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Global Momentum Guide: Relative Momentum Winners & Losers For August 22

|Includes: FDN, HD, Lowe's Companies, Inc. (LOW), RSX, SEA, SOCL, TAN, TUR

The Fidelity Select funds saw Wireless (MUTF:FWRLX) and Natural Gas (MUTF:FSNGX) lose the most relative momentum over the past week. Energy Service (MUTF:FSESX) and Pharmaceuticals (MUTF:FPHAX) also slipped in the rankings.

Gaining the most relative momentum this week was Construction & Housing (MUTF:FSHOX), up four spots. The fund was helped by Home Depot's earnings report, which lifted its stock 5 percent in one day, as well as lifting shares of competitor Lowe's (NYSE:LOW). Behind FSHOX was Biotechnology (MUTF:FBIOX). This sector has recovered nicely due to a series of positive news events, including successful drug trials and takeover speculation.

The ETF Sector funds saw commodities slip this week. iPath DJ Livestock (NYSEARCA:COW) fell twenty-five spots. First Trust ISE-Revere Natural Gas (NYSEARCA:FCG) slid seventeen places. Utilities ETFs are also weak and have yet to stabilize their relative momentum.

Moving higher in the rankings are Internet ETFs. Global X Social Media (NASDAQ:SOCL) and First Trust Dow Jones Internet (NYSEARCA:FDN) were the two largest relative momentum gainers last week. Guggenheim Solar Energy (NYSEARCA:TAN) moved up nine spots and has reversed its momentum trend. Guggenheim Shipping (NYSE:SEA) also revered momentum, moving up eight spots last week and ending eight straight weeks of relative momentum losses. Even though it was a bad week for gold, silver and copper mining shares, SPDR Metals & Mining (NYSEARCA:XME) moved up seven spots.

Among international ETFs, iShares MSCI Turkey (NYSEARCA:TUR), iShares MSCI Italy (NYSEARCA:EWI) and WisdomTree Commodity Equity (NYSEARCA:CCXE) all fell six places. CCXE has exposure to some nations that have lost momentum recently, such as Norway and Russia. Some European funds also remain among the biggest losers due to the weak euro.

Gaining relative momentum this week were Chinese ETFs, still benefiting from ­­the rapid ascent over previous weeks. Power Shares Golden Dragon (NASDAQ:PGJ) moved up the most spots thanks to its exposure to technology funds on the Nasdaq. Guggenheim China Small Cap (HAO) and Guggenheim China Real Estate (NYSE:TAO) also saw solid advances of eight spots. Also moving higher were Market Vectors Russia (NYSEARCA:RSX) and Market Vectors Vietnam (NYSEARCA:VNM). Russian equities staged another rally over the past couple of weeks, while VNM is approaching a multi-year high.