We had a follow-through day on the NASDAQ with the rally into the close. We finished up 1.3% on volume higher than the day before on day 10 of an advance. IBD should put the market in confirmed rally status. It happens fairly often that the market confirms a rally when the world situation seems the most terrible. The FTD is a B1 buy signal putting the exposure count at +1 (30% invested). The next likely signal if the market continues in a rally is the B3 (lows above the 21-day ema).

Over the last 40 years the market has not begun a big rally in the month of June. 75% of the rallies begun in June have lost money. Here is a summary of every rally with a FTD in June since 1974. I used the market exposure model to compute the percent gain in the NASDAQ starting with the close of the FTD and ending when the market went back into correction. These percent gains or losses might approximate the opportunity if you had invested in the QQQ.

6/17/76 -0.1%
6/8/79 +3.2%
6/11/81 -3.0%
6/4/84 -0.9%
6/23/98 +1.5%
6/4/99 +4.4%
6/28/01 -7.7%
6/21/06 -4.1%
6/13/07 -1.4%
6/2/10 -4.8%
6/15/10 -7.4%
6/21/11 -0.7%
6/15/12 ?

June is just not one of the hot months in the stock market. Possibly a look further back in time would produce some stellar counter examples but 40 years is significant.

Stocks doing well so far in the advance are NSM, PETM, DG, BGS, WWWW, CRUS, ROST, UA.
GNC and LQDT (canslim leading issues) did not participate in the rally and might be breaking down at the 50-day.