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.

Agriculture, PowerShares DB Agriculture Fund ETF (DBA) price rose above its 50-day SMA on 6/7/13, thereby turning systematically neutral (from bearish).

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below the lows of the previous 4 years on 6/7/13, reconfirming its major downtrend. Price fell to a 6-month low on 6/7/13.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 years on 6/7/13, reconfirming its preexisting major downtrend.

U.S. stocks opened higher and added to gains by the close, which was near the highs of the day. The S&P 500 Composite Index (SPX: 1643.38) finished up 1.28% and Nasdaq rose 1.32%. The Cumulative Daily Advance-Decline Line on the NYSE was on the plus side all day. NYSE Volume fell again, down 6%, thereby denying confirmation of the 2-day bullish price move.

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 6/7/13, 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 6/7/13.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 years on 6/7/13, 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 6/6/13.

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 rose above its 50-day SMA on 6/7/13, thereby turning systematically neutral (from bearish).

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
4.80% , OMC , OMNICOM
1.44% , PXN , Nanotech Lux, PXN
3.86% , LBTYA , Liberty Global Inc. (LBTYA)
6.14% , VRTX , Vertex Pharmaceuticals, VRTX
2.47% , IYT , Transportation Av DJ, IYT
6.26% , MS , MORGAN STANLEY
3.43% , CPB , CAMPBELL SOUP
1.74% , VIS , Industrials VIPERs, VIS
1.09% , DTE , DTE ENERGY
1.53% , PST , 200% Short Bond 7-10 Yr T, PST
4.46% , MRVL , MARVELL TECHNOLOGY
3.82% , BIDU , Baidu, Inc., BIDU
5.13% , APOL , APOLLO GROUP
0.96% , EWK , Belgium Index, EWK
3.96% , GS , GOLDMAN SACHS
1.21% , EIS , Israel MSCI iS, EIS
3.38% , AMZN , Amazoncom Inc
2.71% , GPS , GAP
0.94% , IEV , Europe 350 S&P Index, IEV
2.70% , EIX , EDISON INTL
1.49% , GRMN , GARMIN LTD
1.11% , LEG , LEGGETT & PLATT
4.35% , KR , KROGER
3.21% , SBUX , STARBUCKS
3.85% , PRU , PRUDENTIAL FINL
3.15% , MNST , Monster Beverage, MNST
3.10% , HOLX , Hologic, Inc., HOLX
0.82% , AN , AUTONATION
1.75% , VCR , Consumer D. VIPERs, VCR
0.83% , XEL , XCEL ENERGY
4.20% , XRX , XEROX
1.16% , PRF , Value LargeCap Fundamental RAFI 1000, PRF
3.49% , AVP , AVON
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-4.22% , LAMR , Lamar Advertising Company
-2.73% , TMO , THERMO ELECTRON
-4.88% , SLV , Silver Trust iS, SLV
-3.90% , SIL , Silver Miners Global X, SIL
-1.38% , QCOM , QUALCOMM
-0.31% , EWH , Hong Kong Index, EWH
-2.12% , RFMD , RF Micro Devices Inc
-1.36% , S , SPRINT NEXTEL
-1.66% , CBS , CBS CORP.
-0.84% , MRK , MERCK & CO
-0.79% , HOG , HARLEY DAVIDSON
-1.06% , IDX , Indonesia MV, IDX
-0.77% , AIV , APT INV MNGMT
-0.35% , RSX , Russia MV, RSX
-0.30% , EWW , Mexico Index, EWW
-1.79% , TLT , Bond, 20+ Years Treasury, TLT
-1.64% , PIN , India PS, PIN
-0.80% , SLM.O , SLM CORP
-0.30% , WM , WASTE MANAGEMENT
-0.09% , BWX , Bond Ex-US Treas, BWX
-0.35% , FCX , FREEPRT MCMORAN STK B
-1.36% , EPI , India Earnings WTree, EPI
-0.59% , LPX , LOUISIANA PAC
-1.01% , T , AT&T Corp., T
-2.48% , SDS , Short 200% S&P 500 PS, SDS
-0.59% , PLD , PROLOGIS TRUST
-0.39% , LQD , Bond, Corp, LQD
-0.15% , EWS , Singapore Index, EWS
-0.44% , EXC , EXELON CORP
-0.12% , ZEUS , Olympic Steel, ZEUS
-0.31% , AGG , Bond, Aggregate, AGG
-0.10% , EWP , Spain Index, EWP
-0.51% , EEM , Emerging Markets, EEM
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
3.87% , Japan Index, EWJ
3.10% , Turkey MSCI iS, TUR
2.47% , Transportation Av DJ, IYT
2.35% , Biotech SPDR, XBI
2.20% , Capital Markets KWB ST, KCE
1.95% , Thailand MSCI iS, THD
1.88% , Industrial SPDR, XLI
1.83% , Consumer Discretionary SPDR, XLY
1.73% , Financial SPDR, XLF
1.71% , Pacific VIPERs, VPL
1.68% , Financial Services DJ, IYG
1.61% , Oil, Crude, U.S. Oil Fund, USO
1.49% , Semiconductor iS IGW, SOXX
1.44% , Financial DJ US, IYF
1.42% , LargeCap Blend S&P=Weight R, RSP
1.40% , Value LargeCap Dynamic PS, PWV
1.39% , Growth MidCap Russell, IWP
1.38% , LargeCap Growth Russell 1000 iS, IWF
1.38% , DIAMONDS (DJIA), DIA
1.37% , Dividend Appreciation Vipers, VIG
1.37% , QQQ Nasdaq 100 Trust, QQQ
1.36% , Financials VIPERs, VFH
1.36% , China LargeCap Growth G D H USX PS, PGJ
1.36% , LargeCap VIPERs, VV
1.36% , LargeCap Value S&P 500 iS, IVE
1.34% , Foreign LargeCap EAFE MSCI iS, EFA
1.33% , MidCap Russell, IWR
1.30% , Oil Fund PowerShares, DBO
1.30% , LargeCap Growth S&P 500 iS, IVW
1.29% , LargeCap Blend Russell 3000 iS, IWV
1.28% , Growth VIPERs, VUG
1.28% , LargeCap Blend S&P 500 iS, IVV
1.28% , Switzerland Index, EWL
1.27% , S&P 500 SPDRs LargeCap Blend, SPY
1.26% , Energy SPDR, XLE
1.26% , Energy VIPERs, VDE
1.24% , Consumer Staples SPDR, XLP
1.24% , Growth EAFE MSCI, EFG
1.24% , Blend Total Market VIPERs, VTI
1.24% , LargeCap Blend S&P 100, OEF
1.24% , Value MidCap Russell, IWS
1.23% , Austria Index, EWO
1.23% , Value VIPERs, VTV
1.19% , LargeCap Value Russell 1000 iS, IWD
1.18% , Value EAFE MSCI, EFV
1.17% , LargeCap Blend Russell 1000 iS, IWB
1.14% , Energy DJ, IYE
1.13% , Growth SmallCap VIPERs, VBK
1.11% , Germany Index, EWG
1.07% , SmallCap Growth Russell 2000 iS, IWO
1.07% , Water Resources, PHO
1.06% , Dividend SPDR, SDY
1.06% , Technology DJ US, IYW
1.05% , Global LargeCap Blend MSCI iS, ACWI
1.01% , Small Cap VIPERs, VB
1.01% , Dividend U.S. DJ iS, DVY
0.99% , Info Tech VIPERs, VGT
0.97% , SmallCap Growth S&P 600 iS, IJT
0.97% , MidCap Growth S&P 400 iS, IJK
0.96% , Belgium Index, EWK
0.95% , Value SmallCap VIPERS, VBR
0.95% , MidCap Blend S&P 400 iS, IJH
0.94% , MidCap Value S&P 400 iS, IJJ
0.94% , Europe 350 S&P Index, IEV
0.94% , Global 100, IOO
0.93% , Materials SPDR, XLB
0.92% , Technology SPDR, XLK
0.92% , Sweden Index, EWD
0.92% , Health Care SPDR, XLV
0.91% , MidCap S&P 400 SPDRs, MDY
0.91% , United Kingdom Index, EWU
0.85% , Global ex U.S. LargeCap Blend, ACWX
0.83% , SmallCap Blend EAFE MSCI iS, SCZ
0.82% , SmallCap Blend S&P 600 iS, IJR
0.80% , EMU Europe Index, EZU
0.79% , Dividend High Yield Equity PS, PEY
0.78% , Networking, IGN
0.77% , SmallCap Blend Russell 2000 iS, IWM
0.77% , Utilities VIPERs, VPU
0.76% , France Index, EWQ
0.76% , SmallCap Value S&P 600 iS, IJS
0.73% , Homebuilders SPDR, XHB
0.72% , European VIPERs, VGK
0.70% , Microcap Russell, IWC
0.69% , Netherlands Index, EWN
0.67% , Energy Global, IXC
0.65% , Energy & Nat Res iS GS, IGE
0.61% , Utilities SPDR, XLU
0.60% , SmallCap Value Russell 2000 iS, IWN
0.58% , Semiconductor SPDR, XSD
0.53% , Dividend International, PID
0.41% , Basic Materials DJ US, IYM
0.39% , WilderHill Clean Energy PS, PBW
0.35% , Preferred Stock iS, PFF
0.33% , Dividend ex-U.S. DJ iS, IDV
0.31% , Malaysia Index, EWM
0.30% , Italy Index, EWI
0.29% , Taiwan Index, EWT
0.29% , Canada Index, EWC
0.28% , Financial Preferred, PGF
0.23% , Commodity Tracking, DBC
0.12% , Agriculture DB PS, DBA
0.07% , Bond, High Yield Corp iBoxx iS, HYG
0.01% , REIT VIPERs, VNQ
-0.01% , Bond Treasury Short-Term iS, SHV
-0.01% , Bond, 1-3 Year Treasury, SHY
-0.01% , REIT Wilshire, RWR
-0.02% , Bond, High-Yield Junk, JNK
-0.04% , Telecom DJ US, IYZ
-0.06% , Real Estate US DJ iS, IYR
-0.09% , Bond Ex-US Treas, BWX
-0.10% , Spain Index, EWP
-0.12% , Realty Cohen & Steers, ICF
-0.15% , Singapore Index, EWS
-0.27% , Bond, Muni S&P ATM-Free iS, MUB
-0.30% , Mexico Index, EWW
-0.31% , South Africa Index, EZA
-0.31% , Hong Kong Index, EWH
-0.31% , Bond, Intermediate US Aggregate iS, AGG
-0.35% , Russia MV, RSX
-0.35% , Chile MSCI iS, ECH
-0.39% , Bond, Long-Term Corp iBoxx iS, LQD
-0.43% , Emerging 50 BLDRS, ADRE
-0.44% , Emerging VIPERs, VWO
-0.51% , Emerging Markets MSCI iS, EEM
-0.53% , Frontier Markets Guggenheim , FRN
-0.54% , Bond, Emerging Mkt JPM iS, EMB
-0.57% , Pacific ex-Japan, EPP
-0.59% , Bond, TIPS U.S. Treasury iS, TIP
-0.62% , Australia Index, EWA
-0.70% , China 25 iS, FXI
-0.78% , Bond, 10 Year Treasury, IEF
-0.88% , Latin Am 40, ILF
-1.06% , Indonesia MV, IDX
-1.29% , Metals & Mining SPDR, XME
-1.35% , Brazil Index, EWZ
-1.36% , India Earnings WTree, EPI
-1.36% , Bear, Short S&P 500, SH
-1.50% , South Korea Index, EWY
-1.64% , India PS, PIN
-1.79% , Bond, 20+ Years Treasury, TLT
-2.38% , Gold Shares S.T., GLD
-4.88% , Silver Trust iS, SLV
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The S&P 500 Composite Potential Resistance
1687.18, intraday high of 5/22/2013
1674.21, intraday high of 5/28/2013
1646.53, intraday high of 6/4/2013

The S&P 500 Composite Potential Support
1606.96, 50-day SMA
1598.23, low of 6/6/2013
1536.03, low of 4/18/2013
1495.31, 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