May has traditionally not been kind to stockholders, and this May was especially cruel. As of this writing, the S&P 500 is off 5.8% for the month. In addition, this year, the benchmark indices have broken down technically putting the near-term and intermediate-term market trends sideways.
Clear support rests at the following zones: S&P 500 1,293 to 1,264; Dow 12,100 to 12,300; and Nasdaq 2,737 to 2,775. Resistance for each is: S&P 500 1,340; Dow 12,716; and Nasdaq 2,900.
But the long-term bull market is still intact, and the summer patterns of the past two years appear to be repeating with projections of a sideways market through the summer.
With this in mind, this month’s top stocks to buy are all large-cap, high-quality dividend producers with a history of holding their uptrends in similar market conditions.
Here are your top stocks to buy for June: