- Technical Market Commentary -

June 24, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Dell Inc (NASDAQ: DELL) have pulled back this week from what appeared to be the start of a nice rally. With highs at about $14.25, Dell has declined some 3% by the yesterday’s close. Look for the advance to resume in coming days with a target from $15.00 to $15.60 per share. If Dell reaches the $15.60 level, look for profit taking to again slow things down. A solid close above that level would likely push prices up to $17.00 in coming weeks. If Dell pulls back further from its current levels, then $13.20 per share becomes critical. A close below $13.20 could result in a test of the prior lows, around $12.50 per share.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear markets in 2000-2002, and 2008-2009. During the last two bear markets, his bearish positions resulted in gains exceeding 117 percent, all achieved by trading trends.  (Go to http://www.financialwire.net/?s=frank+kollar to see more commentaries by Frank Kollar.)

The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ/AMEX 25 Most Actives and NYSE/NASDAQ/AMEX greatest Percentage Losers and Percentage Winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Last session’s Most Actives showed 5 advancers versus 20 decliners. Volume Leaders were led by Citigroup, Inc. (NYSE: C) (streaming research for Citigroup available at http://investrend.stocksmart.com/ri/toc?tid=7921), the SPDRS S&P 500 Trust ETF (AMEX: SPY) (streaming research for SPY available at http://investrend.stocksmart.com/ri/toc?tid=34430) and the PowerShares QQQ Trust ETF (NASDAQ: QQQQ) (streaming research for QQQQ available at http://investrend.stocksmart.com/ri/toc?tid=1044870),

Bank of America Corp. (NYSE: BAC) (streaming research for BAC available at http://investrend.stocksmart.com/ri/toc?tid=8456) the Financial Select Secor SPDRS ETF (AMEX: XLF) (streaming research for XLF available at http://investrend.stocksmart.com/ri/toc?tid=1026233) and PPL Corp. (NYSE: PPL) (streaming research for PPL available at http://investrend.stocksmart.com/ri/toc?tid=8688).

The FirstAlert(tm) Economics Calendar lists Durable Goods Orders for May (8:30 am ET); Initial Jobless Claims (8:30 am ET); Philadelphia Fed Index for June (10 am ET); Treasury auctions 7-year auctions (1 pm ET).

The FirstAlert(tm) Events Calendar showcases BMS, MTH, CLF, GE at the Deutsche Bank Industrials Conference;  MNKD, WLP, SYK, DNDN at the Wells Fargo Securities Healthcare Conference.

Quote of the Day: "The Constitution gives every American the right to make a damn fool of himself." –John Ciardi (06/24/1916 – 03/30/1986), US writer.

Word of the Day: rococo \roh-kuh-KOH\, adjective: 1. Ornate or florid in speech, writing, or general style. 2. Pertaining to a style of painting developed simultaneously with the rococo in architecture and decoration, characterized chiefly by smallness of scale, delicacy of color, freedom of brushwork, and the selection of playful subjects as thematic material.  noun: 1. A style of architecture and decoration, originating in France about 1720, evolved from Baroque types and distinguished by its elegant refinement in using different materials for a delicate overall effect and by its ornament of shellwork, foliage, etc.  adjective: 1. In the manner of, or suggested by rococo architecture, decoration, or music or the general atmosphere and spirit of the rococo.

In context: Whereas the author's early works, like "Dead Babies" and "The Rachel Papers," were animated by a satiric gift for social observation and a deliciously black wit, this novel tackles the same themes – sex and identity and coming of age – with weary determination, and lacquers them all with pompous, inanely rococo meditations about the nature of art and truth. — Michiko Kakutani, "The Sexual Revolution Dissected", New York Times, May 2010.

(Rococo originates as a humorous alteration of the French rocaille, "shellwork, pebble-work", refering to the excessive use of shell designs in the style of various French monarchs.)

Today is: National Hand Shake Day

Happy Birthday: 1927 – Martin Lewis Perl, American physicist, Nobel Prize laureate; 1944 – Jeff Beck, English musician (The Yardbirds); 1958 – Jean Charest, Premier of Québec; 1979 – Petra Němcová, Czechoslovakian-born model; 1986 – Phil Hughes, American baseball player.

Today in History: 1664 – The colony of New Jersey is founded; 1880 – First performance of O Canada, the song that would become the national anthem of Canada, at the Congrès national des Canadiens-Français; 1922 – The American Professional Football Association formally changed its name to the National Football League; 1947 – Kenneth Arnold makes the first widely reported UFO sighting near Mount Rainier, Washington; 1981 – The Humber Bridge is opened to traffic, connecting Yorkshire and Lincolnshire. It would be the world's longest single-span suspension bridge for 17 years; 2004 – In New York state, capital punishment is declared unconstitutional.

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