May has traditionally not been kind to stockholders, and this May was especially cruel. The S&P 500 was off 6.3% for the month. In addition, this year the benchmark indices have broken down technically, putting the near-term and intermediate-term market trends sideways.
There was clear support 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. But each has been broken on heavy selling confirming a downtrend in the short and intermediate term.
Even though the long-term bull market is intact, it is time to sell those stocks that have a weak fundamental and technical future.
Here is our list of stocks to sell in June:
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