With the start of the new month, it is time to look back on the Bear Charts of the Day for June. Note this doesn't include any of the charts from this week, but here is a visual representation on the charts with no additional changes in terms of trend lines or projections.
Overall, June saw the S&P 500 (SPY), Nasdaq 100 Trust (QQQ) and Dow move lower by 2% or a bit more, while the Russell 2000 (IWM) eked out a small gain. Given the overall slightly negative month, expectations are the bear charts would do fairly well, and in my view, I think they did.
I've assigned grades to each chart. From the 20 bearish charts between June 1 and June 25, I see slightly less than half of them as "A" worthy, with the average chart coming in as a "B" grade. There were a few stinkers, but none of the names took off higher and never looked back, which is always my biggest concern when shorting anything.
Take a look and see if you agree with the grading. Keep in mind this is just a view of the daily charts and not the weekly charts.
