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                  Internals Remain Quite Weak despite the DJI's
                  Relief Rally back to Monday's Downside Gap near
                  17850

         7/1/2015    Normally I would be quite bullish when I see the DJI and
         the SP-500 move back above their rising 200-day ma, especially right
         before the normally bullish Fourth of July and when the Stochastic-20 K-Line
         has just fallen below an very oversold reading of 5. 

         But first the market must prove the new Peerless Red Sell S12 wrong.  It needs to:
               1)  rid itself of its falling NYSE A/D Line;
                2) the DJI must start rising on higher volume hourly than when it falls;
                3) all the key ETFs must end their 6-8 day pattern of closing below
                their openings. 
                4) the DJI's Accum. Index needs, at least, to rise back above its own
                12-dma
                5) and the bearish ratios of new lows and MINCPs to new highs and MAXCPs
                must end.

         In this environment - net bearish Professionals and heavy red distribution)
         most of our Bearish MINCPs keep falling.  So, I've hedged with them
         on our Stocks' Hotline and would also hold short some of the very weakest
         ETFs using the Quicksilver approach when they rally back up to their
         falling 5-dma.  It may be a mistake, given the bullish seasonality, but I would
         also hold short DIA as long as its Closing Power is falling or until Peerless
         gives a new Buy signal.   There are also some attractive longs among our
         Bullish MAXCPs.  Here we want to try to buy those that have just broken
         their Closing Power downtrends if they have recently shown a bulge of Accumulation
         and have just tested their 65-dma. 





         



         As for the general market, history suggests we should consider a break in the NYSE
         downtrend-line as the time to reverse to a Buy signal after a 2nd or 3rd Quarter
         Red Sell S12.   See  http://tigersoftware.com/PeerlessStudies/NewRedS12/index.html
 
         Look for a 100-point more rally back to 17850.  The DJI has risen 63.3% of the time since 1965
         over the first 10 trading days of July and   "Greek troubles seem far away to most
         Americans.  America also seems like a safe haven to Europeans." 

         If the closes for the DIA, SPY and QQQ start being higher than the openings, then we
         can assume that Professionals are buying again.  This may be a result of inside information
         that European lenders are still prepared to offer more to break the deadlock.  It might also
         be a result of new "dovish" steps taken by our Federal Reserve.  Such  breaks in DIA's
         Closing Power would be reason to cover the DIA shorts.



         Without a new Peerless Buy signal, its probably not wise to look for more
         than a 2% bounce for the rest of this week.  After all, the Greek referendum
         may produce a vote to abandon the Euro, though odds-makers are are
         betting otherwise.  . 

                       DJI - Watch the A/D Line Downtrend.  A Relief Rally
                       from the oversold condition is occurring.  A break in the
                       down-trending A/D Line is needed to consider the new
                       Red Sell to buy.  The Accumulation Index should then
                       move above its downtrend-line and its 21-day ma.  Otherwise,
                       all we may be seeing is more distribution in a bigger top
                       pattern.  
                                                        
                                          
                       Bearish Statistics on 65-Day MA Support/Resistance
 
                                                Tiger's New Charting Tool:
                            The Percentage of all stocks above the support of the 65-dma.

                             The oscillator above shows that 65.2% of all stocks are still
                             below the resistance of their 65-dma   This should block the
                             next rally or two.
                                   
                                        7/1/2015              
                   Index/Sector        Pct.of Stocks
                                              above 65-dma.
                                            today .... yesterday  
                   -----------------------------------------------------------------------------------------------
                   DJI-30             23.3%         16.7%     http://www.tigersoftware1.com/HH/MASTDOWJ.GIF
                   SP-500            35.0%         29.6%     http://www.tigersoftware1.com/HH/MASTSP50.GIF         
                   QQQ               35.7%         29.6%    http://www.tigersoftware1.com/HH/MASTNASD.GIF
                   Russell-1000    37.1%         31.9%    http://www.tigersoftware1.com/HH/MASTRUS-.GIF
                   OEX                35.7%         33.7%    http://www.tigersoftware1.com/HH/MASTSP-1.GIF
                   All Stocks        34.8%         34.0%    http://www.tigersoftware1.com/HH/DATA65.GIF

The DIA, SPY, QQQ, IWM and IBB show similar patterns in that they have            falling Closing Powers and 5-dma, but their Opening Powers are all rising.            The number of days that they have had red candle-stick charts (i.e. that            they closed below their openings) is certainly a warning that Professionals            are selling to the Public and that higher Openings are being bid up by overseas            buyers and market makers who absorbed a lot of stock on the recent decline            and want to even out their positions.  In addition, these 5 first ETFs below have each            rallied up fairly closely to resistance that must be expected at their falling            5-dma.  Watch to see if they bearishly turn back down from their 5-day pivot            points despite the bullish seasonality of the 4th of July period.  This would            suggest another test of their recent lows.  Watch also to see if they can close their            price gaps of Monday.  Often stocks do this and reverse.                               7/1       Pivot-P  IP21  Comments        ----------------------------------------------------------------                   DIA    177.4   178.65  -.225  6 straight Red Candlestick days.                                                                 Cover when CP downtrend is broken.                        http://www.tigersoftware1.com/HH/DIA.GIF                      SPY    207.5   209.86  -.157  8 straight Red Candlestick days                        http://www.tigersoftware1.com/HH/SPY.GIF                    QQQ  107.92 110.00  -.117  6 straight Red Candlestick days.                         http://www.tigersoftware1.com/HH/QQQ.GIF                   IWM  125.23 127.85  +.159 6 straight Red Candlestick days.                         http://www.tigersoftware1.com/HH/IWM.GIF                   IBB     369.9   375.84 +.199  Needs to get back above 370 breakout point                         http://www.tigersoftware1.com/HH/IBB.GIF                   The most bearish Bearish Big ETFS show "Both Down" condition (opening and closing                   power falling) and a falling 5-dma. They should be shorted at their falling 5-dma                   and covered by traders when they reach the first lower band. See charts below.                   This process can profitably be continued until their 5-dma turns up.                                   7/1   Pivot    IP21                   OIH      33.71   35.1    -.261                   NUGT    7.48   8.77    -.326                   KOL     11.23  11.71   -.536                                 Quick Silver Shorting                   Bearish Both-Down Stocks with very low IP21s should be shorted                   at their falling 5-dma and covered at their first lower band, etc.                   Here are a few such stocks.                                                                  IP21     .                   BHI                             -.25                   HPQ                            -.29                    QCOM                       -.38                    XOP                           -.28                   It is a measure of the market's internal weakness that I can find only 2 stocks                                          with an Up% above 55%, both Opening and Closing Power rising and                   and IP21 above .25.  They are COKE and RARE below.  They would seem                   over-extended now unless uses closes below the 5-dma pivot-points or breaks                   in the Closing Power uptrends to exit long positions.  Then the risk:reward ratio                   is probably favorable.

7/1/2015   150+ TigerSoft Charts                                     Go to http://tigersoftware1.com/HH/ to see them.                    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 28 +13        NYSE  28 +19     New Lows:  NASD 64 +2          NYSE  117 -2                                                       24 -4         Bullish MAXCPs  -  BLUE is the strongest.  But very volatile.                                                Let's see if it can retreat all the way back                                                to its 65-dma and then have the Closing Power                                                turn up. 291          Bearish MINCPs - The plurality of Bearish MINCPs over Bullish MAXCPs                                                 warns that Professionals are still bearish many more                                                 stocks than they are  bullish.