We periodically review short interest data and look for stocks that exhibit good absolute and relative performance, and where the shorts have been adding to their position. The expectation is for the shorts to get squeezed on further strength in the stock resulting in a short squeeze. Manhattan Associates Inc. (MANH) exhibits those qualities with 15 days of shorts to cover, and it has a very bullish long-term base.

In the attached pdf we highlight ten stocks in the S&P 500 Growth Index that had a large 1-month improvement in their multi-factor model scores. Of the total 269 constituents, 21% have a score of 9 or greater and 67% are above our 3.1 threshold as a buy. We have also included the annotated chart of the IVW which was sent out on June 9.

BHP has carved out a small base pattern and making its way above the 50-day average. We see upside to the $58 area.

The IVW reversed sharply off its 200-day average, and with Friday's rally, it broke above the 50-day average and downtrend off the May high. Relative performance vs. the S&P 500 remains in a strong uptrend off the January low. We get an initial target of 184 - 188 from here, about +4% to +6%.

Our intermediate to long-term views have not changed.

Yesterday's outperformance of value over growth caught our eye and lead to a review of the growth and value stocks in the Russell 1000. Although there is overlap in some industries, we ranked each index independently relative to itself to find stocks with favorable absolute and relative trends in place.

Shorts have been adding to the stock and we have price breaking above a recent downtrend. Relative performance vs. the S&P 500 is positive.  There is potential for this stock to get squeezed.

Both MRVL and MCHP have pulled back to support zones where we would be initiating a position. Relative performance vs. the S&P 500 is turning up, as well as momentum of that relative performance.

We present 20 long ideas across industry groups and market cap. that score well in our work and have very good absolute and relative trends vs. the S&P 500. All but two of these stocks have increased short interest, making them potential a potential short squeeze, and all but one has recently made a one-month relative high vs. the S&P.

The TLT achieved an MFU-5 target today at $129.70. The MFU-4 target which was hit in April produced a -3.4% decline.

We wanted to send our current thoughts on the S&P 500 which is at an important inflection zone.

We compare the Russell Mid and Small-cap growth vs. value, and in both cases, the mid-caps are displaying strong relative performance. We also highlight 24 long ideas in the Russell Mid-cap growth index that screen well in our work.

In this weeks review, we are focusing on the U.S. market indices. When looking at the intermediate to long-term trends, we don't have any change and remain bullish. Short-term, the recent market pullback has offered a good reward to risk buy for the S&P, Nasdaq Composite, and soon to be seen, the Dow Transports.

We remain bullish on most markets reviewed. Both the S&P 500 and Nasdaq Composite have pulled back to ellipse support to trigger a buy on a daily basis.

GE is lifting off the 50 and 200 day averages which will be support from here.