ChartAdvisor for June 19 2015 Tickers in this article: SPY, DIA, QQQ, IWM The U.S. markets moved higher over the past week, as of mid-day trading on Friday afternoon, after the Conference Board's index of leading economic indicators improved by 0.7% in May, matching its gains in April. While the economy shrunk about 0.7% during the first three months of the year, growth rebounded to around 2% during the current quarter and could reach 3% during the later half of the year.
International markets moved lower over the past week, as of mid-day trading on Friday afternoon. Japan's Nikkei 225 fell 1.13%; Germany's DAX 30 fell 1.4%; and, Britain's FTSE 100 fell 1.07%. In Europe, investors are growing increasingly concerned over a Greek default that could lead to an exit from the eurozone. In Asia, China has indicated it would step up investments to improve its economy.
The S&P 500 SPDR (SPY) 
The S&P 500 SPDR (ARCA: SPY) jumped 0.42% over the past week, as of mid-day trading on Friday afternoon. After breaking above its 50-day moving average, the index moved toward R1 resistance at around 213.32. Traders should watch for a move higher to R1 resistance or a move lower to re-test its lower trend line support at 208.00. Looking at technical indicators, the RSI appears neutral at 53.81, while the MACD provides few hints of where prices will be headed.
Dow Jones Industrial Average SPDR (DIA)  The Dow Jones Industrial Average SPDR (ARCA: DIA) jumped 0.47% over the past week, as of mid-day trading on Friday afternoon. After breaking out from its 50-day moving average, the index continues to trade below its upper resistance. Traders should watch for a move higher to R1 support at 182.87 or a move lower to its lower trend line support at around 177.50. Looking at technical indicators, the RSI is neutral at 51.99, while the MACD doesn't provide any clues either.
PowerShares QQQ Trust (QQQ) 
The PowerShares QQQ Trust (NASDAQ: QQQ) jumped 1.18% over the past week, as of mid-day trading on Friday afternoon. After breaking out from its pivot point at 108.79, the index moved toward the middle of its price channel. Traders should watch for a breakout to R1 resistance at 111.83 or a move lower to its trend line support at around 108.00. Looking at technical indicators, the RSI appears neutral at 55.56, while the MACD doesn't provide any future indications either.
iShares Russell 2000 Index ETF (IWM)  The iShares Russell 2000 Index ETF (ARCA: IWM) jumped 1.58% over the past week, as of mid-day trading on Friday afternoon. After breaking out from its R1 resistance at 126.16, the index moved toward its R2 resistance at 128.43. Traders should watch for a breakout from these levels or a move back down to R1 resistance to regroup before a move higher. Looking at technical indicators, the RSI appears a bit lofty at 64.67, but the MACD remains in a bullish uptrend.
Looking Ahead The major indexes moved higher over the past week, as of mid-day trading on Friday, but technical indicators remain very uncertain. Next week, traders will be watching a number of key economic indicators including home sales on June 22nd, GDP data on June 24th, and personal income and jobless claims on June 25th. Of course, all eyes are also on any signs that the Fed is planning on a rate hike.
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