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    7/6/2014        Expect a DJI rally possibly to 17800 to close its earlier gap
                          down from this level, but internals still are quite weak, as I
                          have been showing.  Hold DIA short.  Our bearish MINCPs
                          keep falling. Add more shorts from them.  There are still too
                          few Bullish MAXCPs to trust buying very much.  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 successfully
                          tested their 65-dma. 



                          Today's turn-around from the 17500 support, though bullish
                          in appearance, still left 800 more down than up on the NYSE. 
                          The DJI needs to do a much better job of leading the market higher,
                          if the bull market is to return.

                          The collapse of Oil prices today might once have been considered bullish
                          in that it might get the Fed to re-think its plan to raise interest rates.
                          But the Fed now seems wedded to a rate hike in the Fall.  Hawks have
                          won the debate, I think, by saying that rates must now go up
                          to prevent a bigger bubble.  This will be very dangerous.  The Fed
                          tried to prevent a similar stock market bubble from worsening in 1929
                          and also in1937.  The result was disastrous because the real economic
                          growth was fragile, dependent on the spending of the Rich and the
                          politicians knew only one solution, more fiscal austerity. Sounds exactly
                          like now, if we leave out the much bigger role of government spending
                          presently.  But even this could change.  Fiscal conservatives dominate
                          the House and the Senate.  And Obama is not versed enough in Keynesian
                          economics to fight off their attacks.  So, this Fall things could start to
                          unravel quickly when rates go up.                          

                          Fortunately, for Americans, at least, Greece is far away and only a
                          small country.  In Europe, the tensions between bankers and
                          growing segments of the population are rising to dangerous levels.
                          Presently, the Big European Bank Troika is refusing to keep
                          Greece afloat with another loan, even though the Greek PM
                          has sacrificed his fire-brand Minister of Finance and forsworn printing
                          Drachmas, apparently as a sign that he is bargaining in good faith.  
                          If no one changes their mind, Greece commerce will come to
                          a grinding halt and the dangers posed by the austerity-obsessed Euro
|                         Bankers for Spain, Portugal and Italy will be even plainer
                          for everyone to see.  The Euro zone, as now constituted, will be
                          impossible to maintain.  Currencies and monetary policies should
                          never have been centralized.  This will become even more apparent
                          over the next few months.  I expect the European markets to worsen
                          and slowly drag down the world economy.



                          China is the new threat to the US markets.  Its head and shoulders
                          pattern became more fully shaped today.  This is very reminiscent
                          of November 2007.   Attempts to create a consortium to support
                          Chinese shares' prices mainly have the effect of advertising how weak
                          and vulnerable the Chinese Government views both its own country's
                          stock market and the global bourse. See the leveraged ETF, YINN
                          http://www.tigersoftware1.com/HH/YINN.GIF



  
                              More and More Stocks Have
                 Over Head Resistance at Their 65-dma


                   Index/Sector        Pct.of Stocks
                                              above 65-dma.
                                            today .... yesterday  
                   -----------------------------------------------------------------------------------------------
                   DJI-30             20.0%         20.0%     http://www.tigersoftware1.com/HH/MASTDOWJ.GIF
                   SP-500            32.5%         34.0%     http://www.tigersoftware1.com/HH/MASTSP50.GIF         
                   QQQ               33.7%         32.7%    http://www.tigersoftware1.com/HH/MASTNASD.GIF
                   Russell-1000    34.4%         36.7%    http://www.tigersoftware1.com/HH/MASTRUS-.GIF
                   OEX                33.7%         34.7%    http://www.tigersoftware1.com/HH/MASTSP-1.GIF
                   All Stocks        32.2%         33.6%    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.           ----------------------------------------------------------------                   DIA    http://www.tigersoftware1.com/HH/DIA.GIF                      SPY    http://www.tigersoftware1.com/HH/SPY.GIF                    QQQ  http://www.tigersoftware1.com/HH/QQQ.GIF                   IWM   http://www.tigersoftware1.com/HH/IWM.GIF                   IBB     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 on rallies back to their                   falling 5-dma.  In this market, they show no ability to rally.                   OIH   http://www.tigersoftware1.com/HH/OIH.GIF                           KOL  http://www.tigersoftware1.com/HH/KOL.GIF

7/6/2015   150+ TigerSoft Charts                                     Go to http://tigersoftware1.com/HH/ to see them. New Highs: NASD 18 +6         NYSE  19 +3   New Lows:  NASD 80 +34       NYSE  131 +76                                                      36 +25      Bullish MAXCPs  http://www.tigersoftware1.com/MAXMIN/7-3/bullish.htm                                                  182 -54     Bearish MINCPs -  http://www.tigersoftware1.com/MAXMIN/7-3/bearish.htm                  The great plurality of Bearish MINCPs over Bullish MAXCPs                  warns that Professionals are still bearish many more stocks                  than they are  bullish.  There is little point in trying to pick a                  winner on the long side now.