- Technical Market Commentary -

June 30, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of the ETF Powershares QQQ Trust (NASDAQ: QQQQ) closed below important support levels in trading yesterday, June 29. Since the mini-crash back in early May, the Q’s have had three intra-day lows that reached the $43.50 level. All of those lows were followed by rising prices during the week. Yesterday, the Q’s reached intra-day lows at $43.07 and closed at $43.37. That is a violation of two months of intra-day lows and will likely result in even lower lows in the coming days and weeks. (Go to http://www.financialwire.net/?s=kllrfby 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 3 advancers versus 22 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), Microsoft Corp. (NASDAQ: MSFT) (streaming research for MSFT available at http://investrend.stocksmart.com/ri/toc?tid=4652), 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=1026233) and the Financial Select Sector SPDRS ETF (AMEX: XLF) (streaming research for XLF available at http://investrend.stocksmart.com/ri/toc?tid=1026233).

The FirstAlert(tm) Economics Calendar lists ADP Employment Report for June (8:15 am ET); Chicago PMI for June (9:45 am ET); EIA Petroleum Inventories (10:30 am ET).

The FirstAlert(tm) Events Calendar showcases RDEN, SBUX, BBY and RUTH at the Oppenheimer Consumer, Gaming, Lodging & Leisure Conference.

Quote of the Day: "It is always brave to say what everyone thinks." –Georges Duhamel (06/30/1884 – 04/13/1966), French artist.

Word of the Day: yaw \YAW\, verb: 1. To move unsteadily; weave. 2. To deviate temporarily from a straight course, as a ship. 3. (Of a vehicle) to have a motion about the vertical axis.

In context: “Test pilot Joseph A. Walker flew the X-15 an estimated 28 miles high Thursday, testing a new way to curb the rocket plane's tendency to yaw as it plunges back from the edge of space.” — "X-15 Flight Tests Tighter Yaw Control", Milwaukee Journal, 1962.

(Yaw migrates to English from the Old Norse jaga, "to drive, chase.")

Today is: Leap Second Time Adjustment Day (Note: This is an observance title. Some scientisis do not make adjustments. If adjustments are made, that occurs either today or December 31st.)

Happy Birthday: 1944 – Raymond Moody, American parapsychologist; 1952 – Athanassios S. Fokas, Greek mathematician; 1962 – Tony Fernández, Dominican baseball player; 1966 – Mike Tyson, American boxer; 1971 – Anette Michel, Mexican actress; 1985 – Rafal Blechacz, Polish classical pianist.

Today in History: 350 – Roman usurper Nepotianus, of the Constantinian dynasty, is defeated and killed by troops of the usurper Magnentius, in Rome; 1559 – King Henry II of France is seriously injured in a jousting match against Gabriel de Montgomery; 1860 – The 1860 Oxford evolution debate at the Oxford University Museum of Natural History takes place; 1905 – Albert Einstein publishes the article "On the Electrodynamics of Moving Bodies", in which he introduces special relativity; 1953 – The first Chevrolet Corvette rolls off the assembly line in Flint, Michigan; 1972 – The first leap second is added to the UTC time system; 1997 – The United Kingdom transfers sovereignty over Hong Kong to the People's Republic of China.

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Disclosure: Frank Kollar’s Fibtimer.com ETF Timing Strategy holds a position in the Powershares QQQ Trust.

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