iShares MSCI BRIC Fund (BKF) and Emerging Markets Stocks ETF (EEM) Relative Strength Ratios fell below previous lows, thereby reconfirming preexisting major downtrends.

Silver/Gold ETFs Ratio (SLV/GLD) fell below its lows of the previous 2 years on 5/30/13, again reconfirming its major downtrend. SLV/GLD remains systematically bearish.

U.S. stocks opened higher and continued rising most of the day to a peak at 2:54 p.m.–but a late sell-off erased most of the day’s gains. Nevertheless, the weak close still was above the open and above the close of the previous day.

The Bullish Majority hopes that the stock market will remain bullishly resilient because bullish momentum feeds on itself and the “Buy-the-Dip” mentality won’t quit until the Fed quits its “highly accommodative monetary policy”, which they hope will be many, many months off into the future. (Market analysis is really not that simple, however. Too many other variables can come into play.)

The S&P 500 Composite Index (SPX: 1,654.41) finished up 0.37%, the Nasdaq Composite Index rose 0.69%, the Dow Jones Industrial Average advanced by 0.14%, and the Dow Jones Transportation Average rose 0.19%. Breadth was positive, with 2,398 Advances and 1,626 Declines, and with 2,454 million shares Advancing Stock Volume compared to 1,298 million Declining Stock Volume.

NYSE total volume fell 4% to a level 6% above its 200-day SMA. Rising volume on a price move confirms the direction (up or down) of that price move, but falling volume may indicate diminishing power behind that move, which can suggest a price reversal.
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Stock Market Indicators

The Dow Theory confirmed a Primary Tide Bull Market most recently on 5/17/13, when the Dow-Jones Transportation Average and the Dow-Jones Industrial Average both closed at new price highs. Since 5/17/13, however, the Industrial Average rose to higher highs without confirmation by the Transportation Average.

NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY) rose above its 50-day SMA on 4/30/13, thereby turning systematically neutral (from bearish). Longer term, QQQ has underperformed SPY since 4/10/12, and that Relative Strength downtrend may resume.

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below the lows of the previous 4 years on 5/30/13, reconfirming its major downtrend. BKF/SPY turned systematically bearish on 3/27/13, when the 50-day SMA crossed below the 200-day SMA. BKF/SPY fell below its 50-day SMA on 2/4/13 and fell below its 200-day SMA on 2/19/13. Price peaked at 42.29 on 2/1/13 and fell to a 5-month low on 4/17/13.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 years on 5/30/13, reconfirming its preexisting major downtrend. EEM/SPY turned systematically bearish on 3/20/13, when the 50-day SMA fell below the 200-day SMA. Price peaked at 45.34 on 1/2/13 and fell to a 5-month low on 4/17/13.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below the lows of the previous 7 months on 5/29/13. The EFA/SPY 50-day SMA fell below the 200-day SMA on 5/24/13, thereby turning systematically bearish (from neutral).

The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) rose above its 50-day SMA on 5/24/13, thereby turning systematically neutral again (from bearish). Large Caps tend to outperform in bearish general market trends as investors seek the perceived relative stability and safety of large size. On the other hand, Large Caps tend to underperform Mid Caps and Small Caps in bullish general market trends as investors seek greater potential returns in more volatile, smaller stocks.

The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) whipsawed back up above its 50-day SMA on 5/28/13, thereby turning systematically bullish again (from neutral). Absolute price rose to a new price high intraday on 5/22/13, but that high was rejected by the market.

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) whipsawed back down below its 50-day SMA on 5/22/13, thereby turning systematically neutral again (from bullish). Absolute price rose to a new price high intraday on 5/22/13, but that high was rejected by the market.
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Tangible Assets, Commodities

U.S. dollar ETF (UUP) price turned systematically bullish (from neutral) on 5/9/13, when it rose above the 50-day SMA. Longer term, UUP has been consolidating secular trend losses since bottoming at 20.84 on 5/4/11. Support 22.52, 22.12, 21.53, 21.07, and 20.84. Resistance 22.96, 22.69, 23.14, 23.52, 25.84, 27.19, and 28.97.

Agriculture, PowerShares DB Agriculture Fund ETF (DBA) price fell below its lows of the previous 2 years on 5/20/13, again reconfirming its preexisting major bearish trend. Price whipsawed back down below its 50-day SMA on 5/10/13, thereby turning systematically bearish (from neutral) again.

Crude Oil, United States Oil ETF (USO) price turned systematically bearish again (from neutral) on 5/29/13 when price fell below both the 50-day SMA and 200-day SMA. Longer term, USO has been mostly bearish since peaking at 119.17 on 7/11/08. Support 32.61, 32.12, 30.79, 29.02, 26.28, and 22.74. Resistance 34.59, 34.86, 35.53, 37.17, 38.31, 40.29, 41.38, 42.30, and 45.60.

Gold, SPDR Gold Shares ETF (GLD) price fell below its lows of the previous 2 years on 4/15/13, thereby reconfirming its preexisting major bearish trend. Price turned systematically bearish on 2/22/13, when the 50-day SMA fell below the 200-day SMA. Longer term, GLD has been mostly bearish since peaking at 185.85 on 9/6/11. Support: 130.51. Resistance: 143.43, 149.44, 153.85, 156.80, 164.40, 166.94, 170.01, 174.07, 175.46, 177.40, and 185.85.

Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) turned systematically bearish again on 12/27/12, when the 50-day SMA crossed below the 200-day SMA. Longer term, GDX/GLD has remained mostly bearish for more than 6 years, since 9/5/06.

Silver, iShares Silver Trust ETF (SLV) price fell below its lows of the previous 2 years on 5/17/13, again reconfirming its preexisting major bearish trend. Price turned systematically bearish on 3/1/13, when the 50-day SMA fell below the 200-day SMA. Longer term, SLV has been mostly bearish since peaking at 48.35 on 4/28/11. Support 20.73, and 19.44. Resistance: 23.70, 27.14, 27.35, 28.50, 28.61, 29.73, 31.41, 32.72, 33.31, 34.08, 36.44, 40.23, 41.49, 42.30, 42.78, 44.71, and 48.35.

Silver/Gold ETFs Ratio (SLV/GLD) fell below its lows of the previous 2 years on 5/30/13, again reconfirming its major downtrend. SLV/GLD remains systematically bearish.

Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) price whipsawed back down below its 50-day SMA on 5/23/13, thereby turning systematically bearish again (from neutral). Longer term, JJC has been mostly bearish since peaking at 61.69 on 2/14/11. “Dr. Copper” is widely accepted as one of the better indicators of investor confidence (or lack thereof) in the global industrial economy, so price weakness in Copper implies a weak economic outlook.
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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 later revealed to be deal stocks or are the subject of some other extraordinary events, positive or negative.

Bullish Stocks: Rising Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
5.37% , EMC , EMC
5.64% , SIL , Silver Miners Global X, SIL
1.46% , IYG , Financial Services DJ, IYG
5.11% , NCR , NCR
6.06% , VRTX , Vertex Pharmaceuticals, VRTX
0.82% , RPV , Value S&P 500, RPV
6.63% , RFMD , RF Micro Devices Inc
1.54% , SOXX , Semiconductor iS IGW, SOXX
0.58% , EFV , Value EAFE MSCI, EFV
0.53% , IWP , Growth MidCap Russell, IWP
2.41% , TER , TERADYNE
2.54% , FCX , FREEPRT MCMORAN STK B
2.71% , SNDK , SanDisk Corporation
3.58% , AET , AETNA
1.34% , EWI , Italy Index, EWI
1.09% , ININ , Interactive Intelligence ININ
1.74% , CTAS , CINTAS
0.48% , RSP , LargeCap Blend S&P=Weight R, RSP
3.04% , AMAT , APPLIED MATERIAL
0.82% , S , SPRINT NEXTEL
0.76% , VMC , VULCAN MATERIALS
2.99% , GNW , GENWORTH FINANCIAL
2.59% , BBY , BEST BUY
0.35% , VOX , Telecom Services VIPERs, VOX
0.63% , EWU , United Kingdom Index, EWU
5.07% , LVLT.K , LEVEL 3 COMMUNICATIONS
0.39% , EWP , Spain Index, EWP
0.43% , IYM , Basic Materials DJ US, IYM
2.06% , ISIL , INTERSIL CORP
3.75% , NEM , NEWMONT MINING
2.21% , LLTC , LINEAR TECH
1.05% , TXN.O , TEXAS INSTRUMENT
2.33% , HBAN , HUNTINGTON
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-8.99% , BIG , BIG LOTS
-0.73% , EPU , Peru MSCI iS, EPU
-2.16% , HAL , HALLIBURTON
-1.81% , AN , AUTONATION
-2.43% , DIS , WALT DISNEY
-1.92% , BHI , BAKER HUGHES
-2.53% , PCL , PLUM CREEK TIMB
-0.67% , DELL , DELL
-1.03% , ICF , Realty Cohen & Steers, ICF
-0.95% , COST , COSTCO WHOLESAL
-1.80% , LPX , LOUISIANA PAC
-3.32% , MRVL , MARVELL TECHNOLOGY
-2.85% , WY , WEYERHAEUSER
-0.54% , EWJ , Japan Index, EWJ
-1.36% , HP , Helmerich & Payne HP
-0.66% , RHT , Red Hat Inc.
-1.12% , CPB , CAMPBELL SOUP
-0.57% , PXN , Nanotech Lux, PXN
-0.58% , WPO , Washington Post
-1.41% , EZA , South Africa Index, EZA
-0.87% , MRO , MARATHON OIL
-1.52% , KO , COCA COLA
-0.98% , QID , Short 200% QQQ PS, QID
-0.74% , GWW , WW GRAINGER
-0.35% , PGR , PROGRESSIVE OHIO
-1.05% , AA , ALCOA
-0.60% , COL , ROCKWELL COLLINS
-0.55% , JCI , JOHNSON CONTROLS
-0.99% , RL , Polo Ralph Lauren
-0.25% , ERIC.O , LM Ericsson Telephone Company
-0.67% , ECL , ECOLAB
-0.44% , BEN , FRANKLIN RSC
-0.79% , THD , Thailand MSCI iS, THD
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.48% , Semiconductor SPDR, XSD
1.54% , Semiconductor iS IGW, SOXX
1.46% , Financial Services DJ, IYG
1.39% , Gold Shares S.T., GLD
1.37% , Biotech SPDR, XBI
1.34% , Italy Index, EWI
1.29% , Sweden Index, EWD
1.27% , WilderHill Clean Energy PS, PBW
1.24% , Silver Trust iS, SLV
1.22% , China LargeCap Growth G D H USX PS, PGJ
1.20% , Financial SPDR, XLF
1.16% , Metals & Mining SPDR, XME
1.11% , Germany Index, EWG
0.99% , EMU Europe Index, EZU
0.96% , Info Tech VIPERs, VGT
0.95% , Technology DJ US, IYW
0.95% , France Index, EWQ
0.94% , Capital Markets KWB ST, KCE
0.93% , South Korea Index, EWY
0.93% , Austria Index, EWO
0.90% , Netherlands Index, EWN
0.89% , MidCap S&P 400 SPDRs, MDY
0.88% , Financial DJ US, IYF
0.87% , Water Resources, PHO
0.85% , Financials VIPERs, VFH
0.85% , Networking, IGN
0.85% , SmallCap Growth Russell 2000 iS, IWO
0.83% , European VIPERs, VGK
0.81% , Microcap Russell, IWC
0.77% , MidCap Growth S&P 400 iS, IJK
0.77% , MidCap Blend S&P 400 iS, IJH
0.74% , Growth SmallCap VIPERs, VBK
0.73% , Small Cap VIPERs, VB
0.72% , Value SmallCap VIPERS, VBR
0.72% , Health Care SPDR, XLV
0.71% , Europe 350 S&P Index, IEV
0.70% , Switzerland Index, EWL
0.67% , SmallCap Blend Russell 2000 iS, IWM
0.66% , MidCap Value S&P 400 iS, IJJ
0.64% , Value MidCap Russell, IWS
0.63% , SmallCap Value Russell 2000 iS, IWN
0.63% , United Kingdom Index, EWU
0.63% , Technology SPDR, XLK
0.61% , Telecom DJ US, IYZ
0.60% , MidCap Russell, IWR
0.60% , Industrial SPDR, XLI
0.58% , Value EAFE MSCI, EFV
0.57% , SmallCap Blend S&P 600 iS, IJR
0.57% , Canada Index, EWC
0.57% , SmallCap Growth S&P 600 iS, IJT
0.56% , Global 100, IOO
0.53% , Growth MidCap Russell, IWP
0.53% , QQQ Nasdaq 100 Trust, QQQ
0.51% , Bond Ex-US Treas, BWX
0.50% , Utilities VIPERs, VPU
0.48% , LargeCap Blend S&P=Weight R, RSP
0.47% , Belgium Index, EWK
0.46% , Value VIPERs, VTV
0.46% , SmallCap Value S&P 600 iS, IJS
0.45% , Oil, Crude, U.S. Oil Fund, USO
0.44% , China 25 iS, FXI
0.43% , Basic Materials DJ US, IYM
0.42% , LargeCap Value Russell 1000 iS, IWD
0.42% , LargeCap Blend Russell 3000 iS, IWV
0.41% , LargeCap Blend Russell 1000 iS, IWB
0.41% , Global ex U.S. LargeCap Blend, ACWX
0.41% , Blend Total Market VIPERs, VTI
0.41% , LargeCap VIPERs, VV
0.40% , LargeCap Growth S&P 500 iS, IVW
0.40% , Dividend U.S. DJ iS, DVY
0.40% , LargeCap Blend S&P 500 iS, IVV
0.40% , Emerging 50 BLDRS, ADRE
0.39% , Foreign LargeCap EAFE MSCI iS, EFA
0.39% , Spain Index, EWP
0.37% , Dividend High Yield Equity PS, PEY
0.37% , S&P 500 SPDRs LargeCap Blend, SPY
0.36% , Australia Index, EWA
0.36% , LargeCap Value S&P 500 iS, IVE
0.35% , Growth EAFE MSCI, EFG
0.35% , Oil Fund PowerShares, DBO
0.35% , LargeCap Growth Russell 1000 iS, IWF
0.35% , Value LargeCap Dynamic PS, PWV
0.34% , Global LargeCap Blend MSCI iS, ACWI
0.32% , Preferred Stock iS, PFF
0.32% , Materials SPDR, XLB
0.31% , Transportation Av DJ, IYT
0.29% , SmallCap Blend EAFE MSCI iS, SCZ
0.28% , Growth VIPERs, VUG
0.28% , LargeCap Blend S&P 100, OEF
0.27% , Latin Am 40, ILF
0.27% , Russia MV, RSX
0.26% , Utilities SPDR, XLU
0.20% , Bond, High Yield Corp iBoxx iS, HYG
0.17% , Energy & Nat Res iS GS, IGE
0.17% , DIAMONDS (DJIA), DIA
0.16% , Dividend SPDR, SDY
0.15% , Dividend ex-U.S. DJ iS, IDV
0.13% , Bond, Long-Term Corp iBoxx iS, LQD
0.12% , Dividend International, PID
0.11% , Financial Preferred, PGF
0.10% , Bond, High-Yield Junk, JNK
0.07% , Energy Global, IXC
0.07% , Dividend Appreciation Vipers, VIG
0.07% , Singapore Index, EWS
0.06% , Homebuilders SPDR, XHB
0.04% , Bond, Muni S&P ATM-Free iS, MUB
0.02% , Bond, 1-3 Year Treasury, SHY
0.01% , Bond, 10 Year Treasury, IEF
0.00% , Emerging Markets MSCI iS, EEM
0.00% , Consumer Discretionary SPDR, XLY
0.00% , Commodity Tracking, DBC
0.00% , Bond Treasury Short-Term iS, SHV
-0.03% , Bond, Intermediate US Aggregate iS, AGG
-0.04% , Pacific ex-Japan, EPP
-0.06% , Brazil Index, EWZ
-0.07% , Frontier Markets Guggenheim , FRN
-0.11% , Bond, Emerging Mkt JPM iS, EMB
-0.12% , Agriculture DB PS, DBA
-0.17% , India PS, PIN
-0.22% , India Earnings WTree, EPI
-0.23% , Energy SPDR, XLE
-0.24% , Emerging VIPERs, VWO
-0.24% , Bond, 20+ Years Treasury, TLT
-0.25% , Mexico Index, EWW
-0.25% , Turkey MSCI iS, TUR
-0.26% , Energy VIPERs, VDE
-0.28% , Energy DJ, IYE
-0.31% , Pacific VIPERs, VPL
-0.37% , Bond, TIPS U.S. Treasury iS, TIP
-0.39% , Consumer Staples SPDR, XLP
-0.43% , Malaysia Index, EWM
-0.45% , Bear, Short S&P 500, SH
-0.54% , Japan Index, EWJ
-0.65% , Taiwan Index, EWT
-0.79% , Thailand MSCI iS, THD
-0.81% , Indonesia MV, IDX
-0.82% , Chile MSCI iS, ECH
-0.85% , Hong Kong Index, EWH
-0.94% , REIT VIPERs, VNQ
-0.95% , Real Estate US DJ iS, IYR
-0.97% , REIT Wilshire, RWR
-1.03% , Realty Cohen & Steers, ICF
-1.41% , South Africa Index, EZA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The S&P 500 Composite Potential Resistance
1687.18, intraday high of 5/22/2013

The S&P 500 Composite Potential Support
1635.53, intraday low of 5/23/2013
1622.70, intraday low of 5/8/2013
1598.20, 50-day SMA
1536.03, low of 4/18/2013
1488.69, 200-day SMA
1485.01, low of 2/26/2013
1474.51, high of 9/14/2012
1463.76, low of 1/15/2013
1451.64, low on 1/8/13
1448.00, high of 12/19/2012
1440.24, high of 5/19/2008
1439.15, high of 9/12/2012
1438.59, high of 12/12/2012
1434.27, high of 11/2/2012
1432.82, low of 12/20/2012
1430.53, low of 9/26/2012
1426.76, low of 12/12/2012
1425.53, low of 10/12/2012
1423.73, high of 12/3/2012
1422.58, low of 12/21/2012
1422.38, high of 4/2/2012
1422.06, low of 10/22/2012
1421.12, high of 10/25/2012
1420.34, high of 12/7/2012
1419.70, high of 11/29/2012
1418.71, high of 8/17/2012
1415.32, high of 5/1/2012
1409.16, high of 11/23/2012
1403.28, low of 10/26/12
1401.58, low of 12/28/12
1398.11, low of 12/31/2012
1397.68, low of 11/26/2012
1396.56, low of 9/4/2012
1391.04, low of 8/6/2012
1388.71, low of 5/3/2012
1385.43, low of 11/28/2012
1381.50, Fibonacci 78.6% of 2007-2009 range
1380.39, high of 7/19/2012
1374.81, high of 7/3/2012
1370.58, high of 5/2/2011
1363.49, high of 6/19/2012
1357.38, low of 4/10/2012
1343.35, low of 11/16/2012
1340.03, low of 3/6/2012
1335.52, high of 6/11/2012
1334.93, high of 5/31/2012
1329.24, low of 7/24/2012
1329.05, high of 6/7/2012
1328.49, high of 5/22/2012
1325.41, low of 7/12/2012
1306.62, low of 6/12/2012
1291.98, low of 5/18/2012
1266.74, low of 6/4/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1244.80, low of 12/7/2011
1239.73, low of 12/1/2011
1238.81, Fibonacci 78.6% of 1,576.09 high
1234.81, low of 11/3/2011
1231.04, high of 12/16/2011
1228.74, Fibonacci 61.8% of 2007-2009 range
1226.64, low of 11/9/2011
1224.57, high of 12/19/2011
1215.20, low of 12/16/2011
1202.37, low of 12/19/2011
1158.66, low of 11/25/2011
1121.44, Fibonacci 50% of 2007-2009 range
1074.77, low of 10/4/2011
1014.14, Fibonacci 38.2% of 2007-2009 range
1010.91, low of 7/1/2010
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
881.38, Fibonacci 23.6% of 2007-2009 range
869.32, low of 7/8/2009
666.79, intraday low of 3/6/2009