Stocks closed mixed and little changed on Monday. Beneath the surface, however, Selling Pressure still dominates Buying Pressure.

S&P 500 Composite (SPX, 1,271.83) rose 0.85 points or 0.07%. Volume fell 7% on the NYSE, denying confirmation of the small gain for SPX. The volume of declining stocks was 7% greater than the volume of advancing stocks on the NYSE. The number of declining stocks was 24% greater than the number of advancing stocks on the NYSE.

The Nasdaq Composite fell 0.15% to close below 12-week lows. The volume of declining stocks was 212% greater than the volume of advancing stocks. The number of declining stocks was 77% greater than the number of advancing stocks.

The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) broke down further below 4-month lows and has been in a downside correction since 4/5/11.

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below 13-week lows. Price also fell below 13-week lows.

Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) broke down further below 6-month lows. Absolute price of JNK broke down below 8-month lows. Both confirm a bearish trend for JNK.

The CRB Commodity Price Index fell below 10-day lows, signaling a short-term downside correction.

Crude Oil broke down below 3-week lows.

Gold broke down below 2-week lows.

Silver broke down below 3-week lows

Copper broke down below 2-week lows.

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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 revealed to be deal stocks, sooner or later, 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
10.03% , VFC , VF
1.89% , LIZ , LIZ CLAIRBORNE
0.43% , SWH , Software H, SWH
5.30% , SHLD , SEARS HOLDINGS
2.66% , XRX , XEROX
0.58% , ADRU , Europe 100 BLDRS, ADRU
0.49% , TTH , Telecom H, TTH
2.06% , TDC , Teradata Corporation, TDC
0.15% , IWW , Value LargeCap Russell 3000, IWW
1.37% , BBY , BEST BUY
2.92% , HGSI , Human Genome Sciences Inc
3.02% , FHN , First Horizon National
0.28% , EWI , Italy Index, EWI
1.62% , VMC , VULCAN MATERIALS
1.63% , FRX , FOREST LABS STK A
0.77% , S , SPRINT NEXTEL
0.87% , VFH , Financials VIPERs, VFH
2.02% , LMT , LOCKHEED MARTIN
0.94% , LAMR , Lamar Advertising Company
1.10% , FAST , Fastenal Company
0.19% , JKF , Value LargeCap iS M, JKF
0.29% , PIV , Value Line Timeliness MidCap Gr, PIV
1.10% , MKC , MCCORMICK
0.59% , EWP , Spain Index, EWP
0.26% , VOX , Telecom Services VIPERs, VOX
1.00% , DLTR , Dollar Tree Stores Inc
0.30% , FDL , Dividend Leaders, FDL
0.18% , EFG , Growth EAFE MSCI, EFG
1.42% , LLL , L-3 COMMS HLDGS
0.33% , IOO , Global 100, IOO
0.46% , MZZ , Short 200% MidCap 400 PS, MZZ
0.44% , IYK , Consumer Non-Cyclical, IYK
0.10% , EFV , Value EAFE MSCI, EFV

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-6.54% , AN , AUTONATION
-1.43% , XSD , Semiconductor SPDR, XSD
-4.50% , SIRI , Sirius Satellite
-0.42% , HHH , Internet H, HHH
-3.14% , CTSH , Cognizant Technology Solutions
-2.23% , HMA , HEALTH MGMT STK A
-1.50% , IYE , Energy DJ, IYE
-4.29% , NBR , NABORS
-4.21% , RFMD , RF Micro Devices Inc
-2.58% , IP , INTL PAPER
-1.61% , VDE , Energy VIPERs, VDE
-0.25% , IWZ , Growth LargeCap Russell 3000, IWZ
-0.30% , ADRA , Asia 50 BLDRS, ADRA
-2.87% , ZEUS , Olympic Steel, ZEUS
-1.48% , CCL , CARNIVAL STK A
-1.62% , TIN , TEMPLE INLAND
-0.62% , IWC , Microcap Russell, IWC
-3.25% , WOR , WORTHINGTON INDS
-2.95% , GRMN , GARMIN LTD
-2.12% , PSI , Semiconductors, PSI
-2.33% , PXJ , Oil & Gas, PXJ
-2.75% , EOG , EOG RESOURCES
-3.91% , SLV , Silver Trust iS, SLV
-2.56% , ATI , ALLEGHENY TECH
-0.86% , IXC , Energy Global, IXC
-1.47% , RF , REGIONS FINAN
-2.52% , VLO , VALERO ENERGY
-1.47% , WMB , WILLIAMS
-1.03% , LBTYA , Liberty Global Inc. (LBTYA)
-1.32% , BMS , BEMIS
-0.24% , NYC , LargeCap Blend NYSE Composite iS, NYC
-1.70% , HPQ , HEWLETT PACKARD
-2.42% , BRCM , BROADCOM STK A

9 major U.S. stock sectors ranked in order of long-term relative strength:

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Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) has been trading with a bearish bias since peaking on 10/14/10. The Ratio remains below the 200-day SMA, and the 50-day SMA remains below the 200-day SMA.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) remains neutral, with the 50-day SMA below the 200-day SMA.

NASDAQ Composite/S&P 500 Relative Strength Ratio entered a downside correction since peaking on 1/18/11 and fell below 12-week lows on 6/13/11. Absolute price fell below 12-week lows on 6/13/11.

The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows on 5/26/11, again reconfirming its preexisting bearish major trend.

The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) broke down further below 4-month lows on 6/13/11 and has been in a downside correction since 4/5/11.

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below 13-week lows on 6/13/11. The Ratio set an all-time high on 4/5/11. Price also fell below 13-week lows.

Crude Oil nearest futures contract price broke down below 3-week lows on 6/13/11. Recent data from the Commodity Futures Trading Commission showed hedge-fund and other money managers increased net long positions in Oil–which could prove to be bearish when this hot money rushes for the exits. On 5/3/11, when Crude Oil was 111.56, I wrote, “Crude Oil nearest futures contract price fell below the lows of the previous 7 trading days on 5/3/11, suggesting a short-term price pullback.” Support 94.63, 87.09, 83.85, 83.55, 80.28, 80.06, 79.84, 79.25, 78.86, 73.52, 72.63, 70.76, 70.35, 69.51, 68.59, 67.15, 65.05, and 64.24. Resistance 103.39, 104.60, 105.16, 114.83, 115.27, 120.42, 130.0, and 147.27.

Gold nearest futures contract price broke down below 2-week lows on 6/13/11, confirming. a short-term downtrend. On 6/9/11, when Gold was 1542.7, I noted that the Gold “price appears to have stalled out since 6/6/11. Gold’s 5-week countertrend bounce might be weakening. Reward/Risk does not appear attractive. It seems possible that Gold has finally topped out at 1577.4 after rising 132% from 681 in October, 2008.” Support: 1462.5, 1445.0, 1411.5, 1380.7, 1419.5, 1351.4, 1309.1, 1307.7, 1297.0, 1274.8, 1270.5, 1232.4, 1210.9, 1191.5, and 1155.6. Resistance: 1577.4.

Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) fell further below 27-month lows on 6/13/11. The Ratio has been falling steeply since 4/8/11 and remains bearish.

Silver nearest futures contract price broke down below 3-week lows on 6/13/11, reconfirming a downside correction. Silver fell 35% from 49.82 on 4/25/11 to 32.3 on 5/12/11, breaking down below 10-week lows. On 5/2/11, when Silver was 46.084, I wrote, “Silver nearest futures contract price broke sharply below the lows of the previous 2 weeks. The short-term price trend has turned down. If this downtrend continues, it could have implications for inflation expectations.” Support 32.3, 31.695, 31.61, 30.265, 29.635, 26.30, 24.98, and 22.84. Resistance: 38.845, 39.38, 39.47, 49.82, 49.845 and 50.35.

Silver/Gold Ratio entered a steep downtrend since the peak on 4/28/11. Although the Ratio has stabilized somewhat since making a low on 5/16/11, it probably remains bearish.

Copper nearest futures contract price broke down below 2-week lows on 6/13/11, reconfirming a short-term downside correction. Longer term, Copper broke down below previous 5-month lows on 5/12/11, confirming an intermediate-term correction, if not a bear market. Weakness in Copper suggests doubts about the economic outlook. Support 3.9505, 3.8535, 3.846, 3.6065, 3.3930, 3.1775, 2.9285, 2.8555, 2.8445, and 2.72. Resistance: 4.2125, 4.402, 4.533, 4.554, 4.6495, 4.6535, and 4.6575.

U.S. Treasury Bond nearest futures contract price has been consolidating gains near its highs over the past 9 trading days. Intermediate-term, the Bond rose above the highs of the previous 6 months on 6/1/11, reconfirming a significant uptrend. In its favor, nearly everyone has been talking bearish on Bonds this year, so the Bond is rising up off an extreme oversold condition. Support 124.01, 123.18, 120.20, 119.15, 117.28, 117.04, 116.26, 115.15, 114.06, 113.04, and 112.15. Resistance 126.10, 127.19, 128.00 129.14, 129.27, 132.26, 133.00, 135.12, 135.19, 136.31, 137.31, and 142.31.

Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) broke down further below 6-month lows on 6/13/11. Absolute price of JNK broke down below 8-month lows on 6/13/11. Both confirm a bearish trend for JNK.

U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) fell below the lows of the previous 6 months on 6/10/11, again reconfirming a significant downtrend. TIP/IEF entered a downtrend after peaking on 4/8/11. This downtrend means that fixed-income investors prefer the unprotected 7-10 Year U.S. Treasury Note ETF (IEF) over the inflation-protected TIPs. Inflation expectations are still waning.

The U.S. dollar nearest futures contract price closed above the highs of the previous 5-trading days on 6/10/11. The trend appears to be turning up again. Support 73.88, 73.515, 72.86, and 70.80. Resistance 76.54, 76.87, 77.675, 78.98, 79.34, 81.635, 81.935, 82.02, 83.64, 84.73, 85.36, 86.71, 88.80, 89.22, 89.71, and 92.53.

Advisory Service Sentiment: There were 40.9% Bulls versus 22.6% Bears as of 6/8/11, according to the weekly Investors Intelligence survey of stock market newsletter advisors. This is near normal, since the Ratio’s 20-year range is 0.41 to 3.74, the median is 1.56, and the mean is 1.64. Note that Advisory Service Sentiment as of 4/6/11 rose to 3.65, its highest level in the 8 years since the 20-year high of 3.74 set on 6/18/03. The market has been working off that excess by correcting to the downside.

VIX Fear Index fell below its 3-year range on 4/20/11, hitting 14.30 intraday, and again confirming a preexisting trend toward bullish complacency. This follows a brief spike up to an intraday peak of 31.28 on 3/16/11. Fear was short-lived. VIX is a market estimate of expected constant 30-day volatility, calculated by weighting S&P 500 Index CBOE option bid/ask quotes spanning a wide range of strike prices for the two nearest expiration dates.

The Dow Theory signaled a Primary Tide Bull Market on 7/23/09, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above their closing price highs of the previous 6 months.

As of the close on June 6, 2011, the Dow Theory confirmed a Secondary Reaction (a significant downside correction) for the general stock market, as the Dow Industrials and Transports both closed below 10-week lows. Previously, as of June 1, 2011, the Dow Theory gave a warning of a significant downside correction for the general stock market, as the Dow Industrials and Transports both closed below 5-week lows.

On 5/2/11, when the S&P 500 Composite (SPX) was 1,358.59, I warned, “The majority of major stock price indexes opened higher on gaps but reversed to close with losses on the day. This may signal exhaustion of the short-term uptrend. Sentiment indicators have been suggesting that the stock market may be over loved and overbought. And in view of the sharp reversals in the metal commodities, the so-called “inflation trade”, when speculators buy stocks and sell fixed-income instruments based on expectations of rising price levels for goods and services, may be on thin ice.”

Based on the daily SPX, momentum indicators gave bearish divergence warnings in April; that is, they never made it back to their February peaks when the price indexes rose to higher highs. These bearish divergence warnings are still in effect.

S&P 500 Composite (SPX, 1,271.83) rose 0.85 points or 0.07% on 6/13/11.

S&P 500 Cash Index Potential Resistance
1576.09, high of 10/11/2007
1552.76, high of 10/31/2007
1523.57, high of 12/11/2007
1498.85, high of 12/26/2007
1440.24, high of 5/19/2008
1406.32, high of 5/29/2008
1381.50, Fibonacci 78.6% of 2007-2009 range
1370.50, high of 5/2/11
1359.44, high of 5/10/11
1346.82, high of 5/19/11
1294.70, low of 4/18/11

S&P 500 Cash Index Potential Support
1249.05, low of 3/16/11
1246.73, high of 12/13/10
1238.81, Fibonacci 78.6% of 1,576.09 high
1235.05, high of 12/7/10
1232.85, low of 12/16/10
1228.74, Fibonacci 61.8% of 2007-2009 range
1227.08, high of 11/5/10
1173.00, low of 11/16/10
1171.70, low of 10/27/10
1166.74, low of 10/20/10
1159.71, low of 10/19/10
1,151.41, low of 10/7/10
1,131.87, low of 10/4/10
1122.79, low of 9/23/2010
1114.63, low of 9/15/2010
1110.88, low of 9/10/2010
1091.15, low of 9/7/2010
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
1008.55, Fibonacci 38.2% of 2009-2010 range
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
943.29, Gann 50.0% of 2009-2010 range
878.04, Fibonacci 61.8% of 2009-2010 range
874.17, Gann 62.5% of 2009-2010 range
869.32, low of 7/8/2009
805.17, Gann 75.0% of 2009-2010 range
785.13, Fibonacci 78.6% of 2009-2010 range
666.79, intraday low of 3/6/2009

One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol

1.18% Financial Services DJ, IYG
1.01% Financial SPDR, XLF
0.88% Financial DJ US, IYF
0.87% Financials VIPERs, VFH
0.71% China 25 iS, FXI
0.67% India PS, PIN
0.61% Realty Cohen & Steers, ICF
0.59% Spain Index, EWP
0.59% Homebuilders SPDR, XHB
0.57% United Kingdom Index, EWU
0.56% REIT Wilshire, RWR
0.50% Health Care SPDR, XLV
0.50% Germany Index, EWG
0.48% European VIPERs, VGK
0.47% Dividend DJ Select, DVY
0.47% South Korea Index, EWY
0.46% Utilities SPDR, XLU
0.45% Consumer Staples SPDR, XLP
0.41% REIT VIPERs, VNQ
0.39% Mexico Index, EWW
0.35% Capital Markets KWB ST, KCE
0.34% Bond Ex-US Treas, BWX
0.33% Global 100, IOO
0.29% Transportation Av DJ, IYT
0.29% EMU Europe Index, EZU
0.29% Dividend SPDR, SDY
0.28% Italy Index, EWI
0.28% LargeCap Blend S&P 100, OEF
0.28% Netherlands Index, EWN
0.28% Pacific ex-Japan, EPP
0.28% Australia Index, EWA
0.28% Value VIPERs, VTV
0.27% Utilities VIPERs, VPU
0.26% Europe 350 S&P Index, IEV
0.23% Value 1000 Russell, IWD
0.22% Value S&P 500 B, IVE
0.21% Turkey MSCI iS, TUR
0.21% Telecom DJ US, IYZ
0.19% Real Estate US DJ, IYR
0.18% Switzerland Index, EWL
0.18% Growth EAFE MSCI, EFG
0.15% Value LargeCap Dynamic PS, PWV
0.15% EAFE Index, EFA
0.12% Dividend High Yield Equity PS, PEY
0.11% Bond, Corp, LQD
0.11% Hong Kong Index, EWH
0.10% Value EAFE MSCI, EFV
0.09% Dividend Appreciation Vipers, VIG
0.09% Global ex US ACWI iS, ACWX
0.09% Austria Index, EWO
0.09% India Earnings WTree, EPI
0.08% Technology SPDR, XLK
0.08% Thailand MSCI iS, THD
0.08% S&P 500 SPDRs LargeCap Blend, SPY
0.08% S&P 500 iS LargeCap Blend, IVV
0.08% DIAMONDS (DJIA), DIA
0.07% Pacific VIPERs, VPL
0.07% Belgium Index, EWK
0.06% Agriculture DB PS, DBA
0.05% LargeCap VIPERs, VV
0.04% France Index, EWQ
0.03% Industrial SPDR, XLI
0.00% QQQ Nasdaq 100 Trust, QQQ
0.00% LargeCap 1000 R, IWB
0.00% Japan Index, EWJ
-0.01% Bond, TIPS, TIP
-0.01% LargeCap Blend Russell 3000, IWV
-0.02% Growth S&P 500/BARRA, IVW
-0.02% Blend Total Market VIPERs, VTI
-0.02% Bond Treasury Short-Term iS, SHV
-0.02% Bond EmrgMkt JPM iS, EMB
-0.02% Small Cap EAFE MSCI iS, SCZ
-0.04% Bond, 1-3 Year Treasury, SHY
-0.05% Water Resources, PHO
-0.06% Latin Am 40, ILF
-0.06% LargeCap Blend S&P=Weight R, RSP
-0.08% Preferred Stock iS, PFF
-0.12% Value SmallCap S&P 600 B, IJS
-0.13% Dividend International, PID
-0.13% Value SmallCap Russell 2000, IWN
-0.13% Bond, Aggregate, AGG
-0.13% Value MidCap Russell, IWS
-0.13% Consumer Discretionary SPDR, XLY
-0.13% Emerging 50 BLDRS, ADRE
-0.14% Value SmallCap VIPERS, VBR
-0.15% Value MidCap S&P 400 B, IJJ
-0.17% Financial Preferred, PGF
-0.17% Emerging Markets, EEM
-0.18% Emerging VIPERs, VWO
-0.18% Bond Muni ATM-Free S&P iS, MUB
-0.19% Growth 1000 Russell, IWF
-0.19% MidCap S&P 400 SPDRs, MDY
-0.20% Info Tech VIPERs, VGT
-0.22% Bond, 10 Year Treasury, IEF
-0.23% MidCap Russell, IWR
-0.25% SmallCap S&P 600, IJR
-0.25% MidCap S&P 400 iS, IJH
-0.26% Technology DJ US, IYW
-0.27% Growth VIPERs, VUG
-0.28% Bond, High-Yield Junk, JNK
-0.28% SmallCap Russell 2000, IWM
-0.28% Small Cap VIPERs, VB
-0.29% Growth MidCap 400 B, IJK
-0.32% Growth BARRA Small Cap 600, IJT
-0.36% Brazil Index, EWZ
-0.37% Growth MidCap Russell, IWP
-0.38% Bond, High-Yield Corporate, HYG
-0.39% South Africa Index, EZA
-0.42% Canada Index, EWC
-0.43% Growth SmallCap R 2000, IWO
-0.44% Growth SmallCap VIPERs, VBK
-0.44% Sweden Index, EWD
-0.44% Singapore Index, EWS
-0.50% Bond, 20+ Years Treasury, TLT
-0.56% Biotech SPDR, XBI
-0.57% Frontier Markets Guggenheim , FRN
-0.58% WilderHill Clean Energy PS, PBW
-0.59% Materials SPDR, XLB
-0.60% Malaysia Index, EWM
-0.61% China LargeCap Growth G D H USX PS, PGJ
-0.62% Microcap Russell, IWC
-0.66% Commodity Tracking, DBC
-0.86% Energy Global, IXC
-0.88% Semiconductor iS IGW, SOXX
-0.99% Gold Shares S.T., GLD
-1.02% Basic Materials DJ US, IYM
-1.06% Russia MV, RSX
-1.10% Indonesia MV, IDX
-1.11% Networking, IGN
-1.27% Taiwan Index, EWT
-1.43% Semiconductor SPDR, XSD
-1.50% Energy DJ, IYE
-1.56% Energy & Nat Res iS GS, IGE
-1.58% Energy SPDR, XLE
-1.59% Oil Fund PowerShares, DBO
-1.61% Energy VIPERs, VDE
-1.76% Chile MSCI iS, ECH
-1.86% Silver Miners Global X, SIL
-2.07% Oil, Crude, U.S. Oil Fund, USO
-2.09% Metals & Mining SPDR, XME
-3.91% Silver Trust iS, SLV