Agriculture, PowerShares DB Agriculture Fund ETF (DBA) price whipsawed back down below its 50-day SMA on 6/10/13, thereby turning systematically bearish (from neutral).

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below the lows of the previous 4 years on 6/10/13, reconfirming its major downtrend. Price peaked at 42.29 on 2/1/13 and fell to a 6-month low on 6/10/13.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 years on 6/10/13, reconfirming its preexisting major downtrend. Price peaked at 45.34 on 1/2/13 and fell to a 7-month low on 6/10/13, confirming its bearish major trend.

Energy (XLE) stock sector ETF Relative Strength Ratio (XLE/SPY) whipsawed back down below its 50-day SMA on 6/10/13, thereby turning systematically bearish again (from neutral).

U.S. stocks started higher but gave back all their opening gains by the close. The S&P 500 Composite Index (SPX: 1,642.81) finished down 0.03% and Nasdaq rose 0.13%. The Cumulative Daily Advance-Decline Line on the NYSE finished lower. NYSE Volume fell again, down 14% from the previous trading day, suggesting waning demand for stocks. The bulls may be losing control of the recent minor rally attempt.

The S&P 500 fell 3.6% from 5/21/13 to 6/5/13, based on closing prices. That was the largest down wave since last September-November. It also was the longest in time, lasting 10 trading days. The magnitude and duration of that price decline might be telling us that this time is different from all previous minor price corrections since last November.

Despite months of technical divergences and a clear loss of upside momentum in recent weeks, the great majority of investors remain bullishly complacent. The Bullish Majority assumes (hopes) that the stock market will again find its old bullish resilience, that bullish momentum will again “feed on itself”, and the “Buy-the-Dip” mentality won’t quit until the Fed quits its “highly accommodative monetary policy”.

Following a persistent trend, investors typically overestimate the market’s ability to continue in that same trend direction, while underestimating risks of trend reversal and the natural tendency of all markets to move both up and down, going from overbought to oversold, just as they always have.
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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. On 5/28/13, however, the Industrial Average rose to a higher high without confirmation by the Transportation Average, which made a lower high.

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 will probably resume.

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below the lows of the previous 4 years on 6/10/13, 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 6-month low on 6/10/13.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 years on 6/10/13, 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 7-month low on 6/10/13, confirming its bearish major trend.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below the lows of the previous 8 months on 6/6/13. 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) whipsawed back up above its 50-day SMA on 6/3/13, 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 6/3/13, thereby turning systematically neutral again (from bullish). Absolute price whipsawed back up above its 50-day SMA on 6/6/13, thereby turning systematically bullish again (from neutral).
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Tangible Assets, Commodities

U.S. dollar ETF (UUP) price fell below its lows of the previous 3 months on 6/6/13. Price turned systematically neutral (from bullish) on 6/3/13, when it fell below the 50-day SMA. Longer term, UUP has been consolidating secular trend losses since bottoming at 20.84 on 5/4/11. Support 22.00, 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 whipsawed back down below its 50-day SMA on 6/10/13, thereby turning systematically bearish (from neutral).

Crude Oil, United States Oil ETF (USO) price has been consolidating losses in a choppy, sideways trend for 4 years, whipsawing around both the 50-day SMA and 200-day SMA. The 50-day SMA has remained below the 200-day SMA consistently every day since 4/18/13. Support 32.53, 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) has stayed systematically bearish most of the time since 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 20.81, 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 6/7/13, again reconfirming its major downtrend. SLV/GLD remains systematically bearish.

Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) is systematically bearish. Price has stayed systematically bearish most of the time since 4/4/13, when the 50-day SMA crossed below the 200-day SMA. 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
3.84% , AMD , ADV MICRO DEV
3.80% , LVLT.K , LEVEL 3 COMMUNICATIONS
0.83% , ININ , Interactive Intelligence ININ
2.80% , WLP , WELLPOINT HEALTH
2.98% , CECO , CAREER EDUCATION CORP
4.53% , MON , MONSANTO
1.90% , ZION , ZIONS
3.73% , RFMD , RF Micro Devices Inc
0.20% , PKB , Building & Construction, PKB
2.57% , PNC , PNC FINL SVC
2.02% , ETR , ENTERGY
1.55% , DPS , Dr Pepper Snapple Group
4.41% , APOL , APOLLO GROUP
0.25% , PEY , Dividend High Yield Equity PS, PEY
2.37% , MU.O , MICRON TECH
2.61% , SNDK , SanDisk Corporation
0.69% , IJS , Value SmallCap S&P 600 B, IJS
0.98% , RZV , Value SmallCap S&P 600, RZV
0.10% , IOO , Global 100, IOO
0.19% , VBK , Growth SmallCap VIPERs, VBK
0.36% , EFG , Growth EAFE MSCI, EFG
1.20% , KEY , KEYCORP
0.12% , KCE , Capital Markets KWB ST, KCE
0.24% , IYH , Healthcare DJ, IYH
0.60% , BBT , BB&T
1.06% , WYNN , Wynn Resorts L
0.05% , IYK , Consumer Non-Cyclical, IYK
0.57% , EWG , Germany Index, EWG
0.41% , CMS , CMS ENERGY
0.33% , IYG , Financial Services DJ, IYG
0.44% , RPV , Value S&P 500, RPV
1.63% , RF , REGIONS FINAN
0.24% , MTB , M&T BANK
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-1.04% , EPP , Pacific ex-Japan, EPP
-1.00% , SNI , Scripps Networks Interactive
-1.60% , HSY , HERSHEY FOODS
-2.25% , PLD , PROLOGIS TRUST
-0.88% , XBI , Biotech SPDR, XBI
-0.85% , L , LOEWS
-0.18% , PHO , Water Resources, PHO
-1.13% , MCO , MOODYS CORP
-0.73% , ADRE , Emerging 50 BLDRS, ADRE
-0.69% , TIP , Bond, TIPS, TIP
-0.92% , RWR , REIT Wilshire, RWR
-0.24% , IYE , Energy DJ, IYE
-0.96% , EWA , Australia Index, EWA
-2.67% , DISCA , Discovery Communications
-0.18% , JKE , Growth LargeCap iS M, JKE
-0.19% , RPG , Growth S&P 500, RPG
-1.95% , PIN , India PS, PIN
-0.20% , IYC , Consumer Cyclical DJ, IYC
-0.61% , MUB , Bond Muni ATM-Free S&P iS, MUB
-1.35% , EEM , Emerging Markets, EEM
-0.43% , HAR , Harman International
-0.07% , ACWX , Global ex US ACWI iS, ACWX
-0.61% , CHRW.O , CH Robinson Worldwide Inc, CHRWD
-0.18% , IYJ , Industrial LargeCap Blend DJ US, IYJ
-0.13% , VPU , Utilities VIPERs, VPU
-0.27% , IGE , Energy & Nat Res iS GS, IGE
-0.08% , IYW , Technology DJ US, IYW
-0.88% , IYR , Real Estate US DJ, IYR
-0.30% , XLY , Consumer Discretionary SPDR, XLY
-0.82% , XHB , Homebuilders SPDR, XHB
-0.66% , AAPL , APPLE COMPUTER
-0.62% , EWP , Spain Index, EWP
-0.30% , SLM.O , SLM CORP
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.23% , WilderHill Clean Energy PS, PBW
1.44% , Silver Trust iS, SLV
1.27% , Japan Index, EWJ
0.89% , Semiconductor SPDR, XSD
0.89% , Microcap Russell, IWC
0.69% , SmallCap Value S&P 600 iS, IJS
0.65% , China LargeCap Growth G D H USX PS, PGJ
0.63% , SmallCap Value Russell 2000 iS, IWN
0.61% , SmallCap Blend Russell 2000 iS, IWM
0.61% , Semiconductor iS IGW, SOXX
0.57% , SmallCap Blend S&P 600 iS, IJR
0.57% , Germany Index, EWG
0.50% , SmallCap Growth Russell 2000 iS, IWO
0.50% , Telecom DJ US, IYZ
0.50% , Gold Shares S.T., GLD
0.49% , SmallCap Growth S&P 600 iS, IJT
0.47% , Materials SPDR, XLB
0.43% , SmallCap Blend EAFE MSCI iS, SCZ
0.36% , Growth EAFE MSCI, EFG
0.33% , Financial Services DJ, IYG
0.29% , Dividend International, PID
0.29% , Canada Index, EWC
0.29% , Small Cap VIPERs, VB
0.25% , Dividend High Yield Equity PS, PEY
0.25% , Pacific VIPERs, VPL
0.24% , Networking, IGN
0.22% , Technology SPDR, XLK
0.19% , Growth SmallCap VIPERs, VBK
0.19% , Value SmallCap VIPERS, VBR
0.17% , Austria Index, EWO
0.17% , MidCap Value S&P 400 iS, IJJ
0.14% , Health Care SPDR, XLV
0.14% , Info Tech VIPERs, VGT
0.14% , EMU Europe Index, EZU
0.14% , Netherlands Index, EWN
0.13% , Switzerland Index, EWL
0.12% , Financials VIPERs, VFH
0.12% , Capital Markets KWB ST, KCE
0.12% , Value LargeCap Dynamic PS, PWV
0.10% , Value VIPERs, VTV
0.10% , Foreign LargeCap EAFE MSCI iS, EFA
0.10% , Global 100, IOO
0.10% , Financial DJ US, IYF
0.09% , Dividend U.S. DJ iS, DVY
0.08% , LargeCap Value Russell 1000 iS, IWD
0.08% , LargeCap Blend S&P 100, OEF
0.08% , MidCap S&P 400 SPDRs, MDY
0.07% , Dividend SPDR, SDY
0.06% , LargeCap Value S&P 500 iS, IVE
0.05% , MidCap Blend S&P 400 iS, IJH
0.05% , Financial SPDR, XLF
0.05% , Bond, High-Yield Junk, JNK
0.04% , QQQ Nasdaq 100 Trust, QQQ
0.04% , Blend Total Market VIPERs, VTI
0.03% , Dividend Appreciation Vipers, VIG
0.03% , Metals & Mining SPDR, XME
0.01% , Bond Treasury Short-Term iS, SHV
0.00% , Basic Materials DJ US, IYM
0.00% , Bear, Short S&P 500, SH
0.00% , Consumer Staples SPDR, XLP
0.00% , Energy Global, IXC
0.00% , LargeCap Blend Russell 1000 iS, IWB
0.00% , LargeCap Blend Russell 3000 iS, IWV
0.00% , S&P 500 SPDRs LargeCap Blend, SPY
0.00% , Value EAFE MSCI, EFV
0.00% , Value MidCap Russell, IWS
-0.01% , MidCap Growth S&P 400 iS, IJK
-0.01% , LargeCap Blend S&P 500 iS, IVV
-0.03% , Utilities SPDR, XLU
-0.04% , Bond, 1-3 Year Treasury, SHY
-0.04% , European VIPERs, VGK
-0.04% , France Index, EWQ
-0.05% , LargeCap Blend S&P=Weight R, RSP
-0.05% , Growth VIPERs, VUG
-0.07% , Global ex U.S. LargeCap Blend, ACWX
-0.07% , DIAMONDS (DJIA), DIA
-0.08% , Technology DJ US, IYW
-0.08% , MidCap Russell, IWR
-0.09% , LargeCap VIPERs, VV
-0.09% , LargeCap Growth Russell 1000 iS, IWF
-0.10% , Growth MidCap Russell, IWP
-0.12% , Global LargeCap Blend MSCI iS, ACWI
-0.12% , LargeCap Growth S&P 500 iS, IVW
-0.13% , Utilities VIPERs, VPU
-0.14% , Mexico Index, EWW
-0.17% , Europe 350 S&P Index, IEV
-0.18% , Water Resources, PHO
-0.20% , Bond, Intermediate US Aggregate iS, AGG
-0.21% , Bond, High Yield Corp iBoxx iS, HYG
-0.21% , United Kingdom Index, EWU
-0.24% , Energy DJ, IYE
-0.25% , Bond, 10 Year Treasury, IEF
-0.26% , Transportation Av DJ, IYT
-0.26% , Oil Fund PowerShares, DBO
-0.27% , Belgium Index, EWK
-0.27% , Energy & Nat Res iS GS, IGE
-0.28% , Financial Preferred, PGF
-0.28% , Energy SPDR, XLE
-0.30% , Industrial SPDR, XLI
-0.30% , Consumer Discretionary SPDR, XLY
-0.31% , Bond, Long-Term Corp iBoxx iS, LQD
-0.31% , Agriculture DB PS, DBA
-0.33% , Preferred Stock iS, PFF
-0.34% , Energy VIPERs, VDE
-0.37% , Taiwan Index, EWT
-0.38% , Commodity Tracking, DBC
-0.44% , Dividend ex-U.S. DJ iS, IDV
-0.46% , Turkey MSCI iS, TUR
-0.47% , Oil, Crude, U.S. Oil Fund, USO
-0.48% , Bond, 20+ Years Treasury, TLT
-0.61% , Bond, Muni S&P ATM-Free iS, MUB
-0.62% , Spain Index, EWP
-0.68% , Italy Index, EWI
-0.69% , Bond, TIPS U.S. Treasury iS, TIP
-0.73% , Sweden Index, EWD
-0.73% , Emerging 50 BLDRS, ADRE
-0.78% , Hong Kong Index, EWH
-0.81% , Bond Ex-US Treas, BWX
-0.82% , Homebuilders SPDR, XHB
-0.85% , Realty Cohen & Steers, ICF
-0.86% , REIT VIPERs, VNQ
-0.88% , Real Estate US DJ iS, IYR
-0.88% , Biotech SPDR, XBI
-0.90% , China 25 iS, FXI
-0.92% , REIT Wilshire, RWR
-0.96% , Australia Index, EWA
-0.99% , Russia MV, RSX
-1.00% , Bond, Emerging Mkt JPM iS, EMB
-1.04% , Pacific ex-Japan, EPP
-1.04% , Latin Am 40, ILF
-1.05% , Thailand MSCI iS, THD
-1.09% , Brazil Index, EWZ
-1.13% , South Korea Index, EWY
-1.27% , Singapore Index, EWS
-1.35% , Emerging Markets MSCI iS, EEM
-1.41% , Emerging VIPERs, VWO
-1.42% , Malaysia Index, EWM
-1.88% , Frontier Markets Guggenheim , FRN
-1.95% , India PS, PIN
-2.35% , India Earnings WTree, EPI
-2.47% , South Africa Index, EZA
-3.08% , Chile MSCI iS, ECH
-4.32% , Indonesia MV, IDX
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The S&P 500 Composite Potential Resistance
1687.18, intraday high of 5/22/2013
1674.21, intraday high of 5/28/2013
1648.69, intraday high of 6/10/2013

The S&P 500 Composite Potential Support
1608.43, 50-day SMA
1598.23, low of 6/6/2013
1536.03, low of 4/18/2013
1496.43, 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 1/8/2013
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