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         6/26/2015    

         The Greek financial panic is sending markets much lower in pre-NY
         trading.  The DJI is thereby testing its 17700 support.  As the market
         looked very weak going into Monday's trading, this does not come
         as a real shocker.  But, instead of trying to call a bottom at this support
         on the first rally, I think we have to wait and see what Monday and
         Tuesday together bring.  Watch what happens to Tiger's Closing Power
          if you are a short-term trader.
        

         Despite the DJI rise of 56 points on Friday, the real story
         remains the internal weakness of the DJI.  Just two stocks in the DJI
         (NKE and MCD) accounted for 40 of Friday's 56 point gain.  Most of the others
         rested quietly.  

         As I keep saying, keep watching the Closing Power to see what Professionals
         are doing with their money and what they expect.  Opening Power, representing
         over-seas, Public buying and Professional Market Makers' manipulation has just
         made a new 6-month high.  The Blue Closing Power, representing Professionals net
         buying or selling, remains in a downtrend.  The market can turn upwards in this environment,
         but we usually do best by waiting for Professionals to turn bullish, too.
         Most of the time such a divergence between the Opening and Closing
         Power trends is resolved by prices going in the direction that Professionals
         expect.


         Pros are still very cautious and wary of the 6 key high-priced DJI stocks
         that are now testing key support.  (See list further below). Lagging upside volume is
         still a problem for the market, too.  The 10-day ma of Down Volume is above and rising faster
         that the 10-day ma of Up Volume.  Even the hitherto strong NASDAQ showed
         a nearly negative OBV-Pct. on its recent run.  Now the key Semi-conductors
         are falling.  Because of their heavy capitalization, they are especially sensitive
         to business slow-downs.  Is that what lies ahead?

         I take the operative Peerless signal still to be a Sell S12, based on the 50 straight
         trading days that the current Accumulation Index (IP21) was below +.018.  Now
         the IP21 has been red and negative or nearly so for 3 months.  Historically,
|        this suggests a decline, at least, to the lower band is very likely.  

         Still, 17700 seems likely to hold if it can remain above that level for a few more trading
         days.  The Bullish seasonal period just before and after July 4th should help the markets,
         especially IWM and IBB.  And the DJI has a history of disappointing bears
         in long bull markets by holding up a lot longer than they can keep buying Puts.
         Usually, it takes a set of major Sell signals or a clear-cut head/shoulders top
         to stop a long bull market.  But there are some exceptions, like the S12s in early 1966
         and the Summer of 1997.

                                                                                                      head/shoulders?


                 
                  The bearish divergence between the Hourly DJI and its Hourly DISI/OBV continues.  


                  
 
                          Only 36.7% of the individual DJI stocks are above their 65-dma support.
                          So 63.3% of them are positioned to now face keen resistance if they should rally
                          back up to their 65-dma.                
 
                                                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. 
                                   
                                        6/26/2015              
                                        Index/Sector        Pct.of Stocks
                                                                  above 65-dma.
                                                                 today .... yesterday  
                                        --------------------------------------
                                        DJI                  36.7%        36.7%
                                        SP-500           44.0%         44.0% 
                                        QQQ              43.9% ........ 49.0%  Big drop - semi-conductors
                                        Russell-1000   44.8% ........ 45.6%
                                        OEX               44.9%
                                        All Stocks       43.2% ......... 45.1% 


                                             

                               Will The DJI Hold above Its 17700 Support?     
                                                       
                  A lot depends on highest priced DJI stocks that are now at support, either
                  their 65-dma or at the well-tested support-lows of the last 6 months.
                  We will watch these closely.

                  AAPL (126.75 -.75) broke below its 65-dma and shows a lowIP21 of - .241
                  and a Closing Power that keeps making new lows ahead of price.  This
                  looks bearish. 

                  HD ( 112.6)  is slightly above its 65-dma.  Its Accum. Index has been negative
                  for 3 months and is now at -.204.  Professionals (judging from Closing Power)
                  have not decided whether this will hold up or not.

                  MCD (97.29 +1.5)  is slightly above its 65-dma.  Its Accum. Index has been negative
                  for 3 months and is now at -.325.  Professionals (judging from Closing Power)
                  have not decided whether this will hold up or not.


                  MMM (155.92) is slightly above its lows/6-month support.  Its Accum. Index (IP21)
                  is a weak-looking -.332.  Professionals (judging from Closing Power)
                  have not decided whether this will hold up or not.

                  TRV (97.92 ) is testing its 6-mo lows of 97.66.  Its Accum. Index (IP21)
                  is -.327.  Professionals (judging from Closing Power) have not decided whether
                  this will hold up or not.

                  UTX ( 113.52) is testing its 5-month lows/support at 113.  Its IP21= -.144.
                  Professionals (judging from Closing Power) have not decided whether
                  this will hold up or not.


                  With 6 high-priced DJI stocks at key support and also showing weak
                  internals, I would stay short DIA.  The Closing Powers of these 6 key DJI
                  stocks have not turned up.  Professionals are still very wary of this
                  market.

                  On the long-side. there are still many attractive Bullish MAXCPs. 
                  This suggests we should hold long IWM and IBB so long as their Closing Powers
                  stay above their 21-day ma.  Seasonality remains weak until just before the middle
                  of the coming week.  It then turns bullish.  If the DJI can hold above 17700 until
                  next Wednesday,  there should then a rebound back up to the 17200 should
                  be attempted.  But the DJI's price pattern, a wide potential head/shoulders
                  pattern, its consistently negative Accumulation and its lack of volume on
                  the the up-side should keep it from making a breakout above 17300.
 

6/26/2015   150+ TigerSoft charts    www.tigersoftware1.com/HH                    I also want to encourage you to run our software.  I can load                    the latest version of Tiger and Peerless in a fast Dell XP laptop                    and send it to you for only $160.  You can then get the data                    from me for $175/year or use TC-2000 for $30/month.  Unfortunately,                    they do not provide the necessary data to run Peerless.  That                    data would have to be put in by hand.) New Highs: NASD 49        NYSE  35    Sum =  84 New Lows:  NASD 28        NYSE  86    Sum =  114                                                   88  +17         Bullish MAXCP Stocks:  167 +12     Bearish MINCP Stocks:

In the table below Blue shows a bullish factor in assessing the                 likely short-term trend, while Red shows a bearish factor.                 But consider also where the ETF or stock is in relation to                 its bands around the 5-dma and the expected support at                 the 65-dma and at breakout points.  Candle-stick bearishness                 is reliable, too.  Watch Monday to see if IBB and IWM can                 stay above their recent breakout points at the close.  If they do not, sell                 them.  They may still turn up at their 21-day ma, but false breakouts                 are reliably bearish and taking a small loss is prudent in this market,.                                      IP21   CP Trend   5-dma Trend   Last Day's   Closing    5-dma   Comments                                                                           Volume        Price       Pivot            ---------------------------------------------------------------------------------------            DIA    -.128    Down         Down             Bullish          179.13    180.98            SPY    -.092   Down         Down              Bearish         209.82    211.89            QQQ  -.014   Down         Down              Bearish          109.27   110.7            IWM  +.240   Up             Down              Bearish          127.5     128.74    3-soldiers marching down (Candle.)            IBB    +.235   Up              Down             Bearish           372.78   383.17    3-soldiers marching down (Candle.)            SOXL -.147   Down         Down             Bearish           33.95     110.7            TECL  -.081   Down         Down             Bearish           36.73      38.25            FAS    -.13     Down         Down             Bullish             33.29      34.2            OIL     +.171  Up              Down             Bearish           12.11      12.23            OIH    -.215   Down          Down             Bullish             35.23      35.62