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         6/24/2015    DJI's Internal Weakness Predicts Another Key Test of 17700.
         This is an easy prediction to make.  Short DIA on its strong opening tomorrow
         but hold long IBB and IWM.

                1)  The DJI's Accumulation Index remains negative, just as it has been
         for nearly 60 trading days.  This represents a stunning amount of steady distribution
         of stock on intra-day strength by Institutions.  (See DJI's "Data" chart).  This is
         what has produced the new Red Peerless Sell S12.  It warns that the 17700 support
         may well give way in the next month.  The upside potential for the DJI is just too limited
         for most traders to keep supporting the DJI at 17700. 

                 2) The declining NYSE A/D Line trend shows the abundant selling
         in bonds, REITs, and the majority of dividend stocks.  (See NYSE A/D Line
         on DJI's "Data" chart).  In fact, only 2.4% of utilities, only 4.7% of bond
|        funds and only 12.5% of utilities are above their 65-dma. (See DJI's "Data" chart).
         The market is adjusting to the increasing likelihood of higher interest rates.



                 3) The truly terrible looking bearish divergence between the
         Hourly DJI and its Hourly DISI/OBV Line warns that aggressive selling
         in the highly visible and potent DJI stocks has now become a well-established
         pattern. 


                  The only question now is how much of these funds will go into smaller
         NASDAQ stocks.  A little money can go a long ways in smaller stocks.
         We know that new high-performance money is being re-channeled into
         aggressive purchases on the best performing biotechs  and ETFs like IWM and IBB. 
         These showed excellent flat topped breakouts last week.  Their Closing Powers
         and 5-dma are still rising.  The point of breakout should act as support, too.
         See their high current Accumulation (IP21) and rising Closing Powers.

                  Unfortunately, the NASDAQ's very weak OBV-Percent warns us
         that the NASDAQ may not be able to make a big advance like it did in
|        early 2000.



                  And, we should be concerned if much of the hot money that boosted
         the DJI and SP-500 with aggressive buying of their futures and long ETFs
         using virtually free money from the FED chooses to take profits.  Or much worse,
         decides to playing leveraged short ETFs on the DJI and the SP-500.  The DJI's
         17700 support-level would probably then not be able to hold up for more than
         a month more.  New head and shoulders patterns could then be completed,
         giving a DJI target 1000 points below the close today.

                 Today, we saw Professionals reverse to new net short positions on DIA. 
         See the break in the DIA's briefly rising blue Closing Power on DIA chart.
         It is our invitation now to short DIA.
 
                                                Tiger's New Charting Tool:
                            The Percentage of all stocks above the support of the 65-dma.

                             The oscillator above shows that 50% of all stocks are still
                             below the resistance of their 65-dma  The downtrendline of the last
                             6 weeks has been broken. 
                                   
                                        6/24/2015              
                                        Index/Sector        Pct.of Stocks
                                                                  above 65-dma.
                                                                 today .... yesterday  
                                        --------------------------------------
                                        DJI                  40%..........50.0%    -10%   Big drop in underlying support.  
                                        SP-500            44.6%.......51.0%      
                                        QQQ               49.0%.......55.1%  
                                        Russell-1000    47.0%.......53.4%  
                                        All Stocks         47.1%......50.1%      

                            
                                                       


         6/24/2015

         Let's watch closely some of the most important ETFs short-term trends.  We want
         to be long ETFs that show rising Closing Powers and have a rising 5-dma, provided their IP21
         is above, say, +.23 now.  Traders can use the 5-day ma pivot-points to spot short-term
         reversals.  The opposite is true of short sales, like OIH and KOL.  In both longs and
         shorts, the best short-term positions are taken on retreats to the trending 5-day ma.
         Use the upper bands to take profits if the stock is in a trading range.  These are shown
         on the Tiger 6-month charts. 

....................Observations.
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==>   DIA     5-day ma is now falling and will not turn up unless DJI closes above 181.33.             .  
         SPY     
         QQQ   
==>  IWM    Closing Power is rising.   High IP21.
         SOXL  
         TECL 
==>   IBB     Closing Power is rising. High IP21.
          FAS   

         Other ETFS
        
         OIL    
         OIH    
         KOL    
         GLD
         SLV