BALTIMORE (Stockpickr) -- With the first official day of summer under way, should we expect more of the "summer doldrums" that have rocked the market this month? Early signs point to no.
After what I'd only describe as a train wreck start to June, stocks are finally starting to show some semblance of support to end the month. June started off with one of the worst selling streaks we've seen in years, reversing nearly all of the market's hard-earned gains in 2011. The S&P 500 slammed into the 200-day moving average, a price that coincides with that very same secular trend line support level that we've been watching for the last few weeks.
It's clear that the market was painfully oversold into the end of last week. That said, traders shouldn't underestimate the strength of demand below the S&P's trend line support level. What's the best way to parlay that sort of strength into gains right now? Let's look at a handful of promising technical setups to find out.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV