ChartAdvisor for June 26 2015 Tickers in this article: SPY, DIA, QQQ, IWM The U.S. markets were mixed over the past week, as of Thursday's close, with technology and small-caps outperforming industrials and the S&P 500. After reporting a contraction during the first quarter, the second quarter has shown a rebound as temporary factors like heavy snowfall and port disputes resolve themselves. Many investors remain concerned, however, over potentially lofty U.S. equity valuations that are approaching historical highs.
International markets moved largely higher over the past week, as of Thursday's U.S. close. Japan's Nikkei 225 rose 1.78%; Germany's DAX 30 rose 2.47%; and Britain's FTSE 100 rose 1.57%. In Europe, investors were pleasantly surprised by consumer confidence and other surveys showing robust improvements, despite concerns over Greece's bailout. In Asia, investors have been fretting over lackluster PMI figures from China and Japan, as their economies continue to struggle.
The S&P 500 SPDR (SPY) 
The S&P 500 SPDR (ARCA: SPY) fell 0.07% over the past week, as of Thursday's close. After falling to the 50-day moving average at 209.92, the index is trading in the middle of its price channel just above its pivot point. Traders should watch for a move down to the lower trend line at 208.00 or a move higher to R1 resistance at 213.32. Looking at technical indicators, the RSI appears to be trending near neutral levels of around 49.16, while the MACD isn't providing any new insights.
Dow Jones Industrial Average SPDR (DIA)  The Dow Jones Industrial Average SPDR (ARCA: DIA) fell 0.27% over the past week, as of Thursday's close. After falling below its 50-day moving average at 179.68, the index stands near the middle of its long-term price channel. Traders should watch for a breakout higher toward R1 resistance at 182.87 or a move lower to trend line support at around 177.00. Looking at technical indicators, the RSI appears slightly oversold at 46.19, while the RSI appears to be slightly bearish.
PowerShares QQQ Trust (QQQ) 
The PowerShares QQQ Trust (NASDAQ: QQQ) rose 1.12% over the past week, as of Thursday's close. After nearly reaching its prior highs, the index moved down mid-week back toward the middle of its price channel. Traders should watch for a breakout higher to R1 resistance at 111.83 or a move lower to pivot point support at around 106.76. Looking at technical indicators, the RSI appears neutral at 53.78, while the MACD continues to trend in a relatively neutral manner.
iShares Russell 2000 Index ETF (IWM)  The iShares Russell 2000 Index ETF (ARCA: IWM) rose 1.52% over the past week, as of Thursday's close. After briefly surpassing its R2 resistance at 128.43, the index moved off of its highs toward the middle of the week. Traders should watch for a breakout from the R2 resistance or a move lower to R1 support and lower trend line at around 126.16. Looking at technical indicators, the RSI appears a bit lofty at 60.27, while the MACD remains in a bullish uptrend.
Looking Ahead The major indexes were mixed over the past week, as of Thursday's close, but technical indicators provide few hints for future direction. Next week, traders will be closely watching a number of key economic indicators including the ISM Manufacturing Index on July 1st, Jobless Claims on July 2nd, and employment data that's also due out on July 2nd.
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