An ADP report showed private sector hiring continued to slow down in May and factory orders for April came in weaker-than-expected. Later in the session, the Beige Book revealed the U.S. economy is growing at a "modest to moderate" pace, but hiring remains sluggish in seven of the 12 Fed districts.

Overall, every S&P 500 sector declined. Materials firms including The Mosaic Co (MOS -3.03%) and Financial firms including Citigroup Inc (C -2.34%) gave up the most ground. Industrial stocks were also notable laggards. Fastenal Co (FAST -6.32%) led the group lower after the company posted disappointing monthly sales figures.

In fixed-income, Treasury yields declined. The 10-year note was up 17/32 to yield 2.08% and the 30-year bond gained over a full point to yield 3.24%.

The market (M criteria) uptrend clearly came under pressure as May drew to a close, and the ongoing weakness is threatening to become a full blown "correction". However, lighter volume totals are a sign that institutional volume has not been intensifying while the major averages have retreated.  As more damaging losses mount in the broader market this can serve as a reminder for investors to be protective of any gains and to limit losses by being especially watchful for any individual issues flashing technical sell signals.  It is vitally important to your success with the fact-based investment system to reduce exposure and preserve cash during market downdrafts.

As always, watch upcoming CANSLIM.net reports for new action-worthy leaders best matching the winning models to be covered as they emerge and then included on the Featured Stocks Page - with our Certified experts' latest notes and links to additional resources including detailed analysis with annotated graphs.  The Premium Member Homepage - includes "dynamic archives" to all prior pay reports published. Watch for an announcement via email concerning the next WEBCAST.

PICTURED: The S&P 500 Index is slumping toward its 50-day moving average (DMA) line. That important short-term average acted as support during pullbacks earlier this year, however any more damaging violation would raise concerns and prompt investors to reduce their exposure to stocks.

The Broker/Dealer Index ($XBD -2.31%) and Bank Index ($BKX -1.72%) both suffered losses and weighed on the major averages on Wednesday's mostly negative session. The Retail Index ($RLX -1.10%) also fell, and their were unanimous losses in the tech sector as the Biotechnology Index ($BTK -2.54%) and the Semiconductor Index ($SOX -1.52%) outpaced the Internet Index ($IIX -0.82%) and the Networking Index ($NWX -0.34%) to the downside.  The Healthcare Index ($HMO -1.98%) was weaker, and losses in energy-related shares weighed on the Integrated Oil Index ($XOI -1.42%) and the Oil Services Index ($OSX -0.52%).  The Gold & Silver Index ($XAU +0.24%) was a standout as it eked out a small gain.

Charts courtesy www.stockcharts.com

PICTURED: The Bank Index ($BKX -1.72%) has retreated from its highs with a streak of 4 consecutive losses.

While CELG may go on to consolidate and form a new base, a rebound above its 50 DMA line is obviously needed for its outlook to improve. CELG has maintained a strong earnings history (C and A criteria), and it recently reported earnings +27% on +15% sales revenues for the Mar '13 quarter. The number of top-rated funds owning its shares rose from 1,623 in Dec '11 to 1,834 in Mar '13, a reassuring trend concerning the I criteria.  However, the company is already well-known by the institutional crowd, and that means that very few are likely to just be discovering it. Some have clearly decided to lock in profits from what this chart is telling us this week, whether it is due to concerns with respect to the broader market or the individual company.  Since 3 out of 4 stocks follow the direction of the broader market averages (M criteria), chances may not be good for most stocks to make progress if the market falls into a more serious correction.

Color Codes Explained :
Y - Better candidates highlighted by our staff of experts.
G - Previously featured in past reports as yellow but may no longer be buyable under the guidelines.

***Last / Change / Volume data in this table is the closing quote data***

Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
AL - NYSE Air Lease Corp Cl A DIVERSIFIED SERVICES - Rental and Leasing Services	$27.15	-0.71 -2.55%	$28.00	866,036 157.06% of 50 DAV 50 DAV is 551,400	$31.00 -12.42%	5/9/2013	$30.95	PP = $29.38
								MB = $30.85
Most Recent Note - 6/4/2013 12:18:58 PM G - Consolidating near its 50 DMA line now, it completed a Secondary Offering on 5/31/13. Often times companies attract additional institutional interest (I criteria) with the help of underwriters when Secondary Offerings are completed, however they can typically be a short-term hindrance to price progress. >>> The latest Featured Stock Update with an annotated graph appeared on 5/30/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
AMBA - NASDAQ Ambarella Inc ELECTRONICS - Semiconductor - Specialized	$16.65	+0.46 2.84%	$17.74	4,063,092 478.86% of 50 DAV 50 DAV is 848,500	$17.90 -6.98%	5/6/2013	$15.31	PP = $16.10
								MB = $16.91
Most Recent Note - 6/5/2013 11:00:37 AM Y - Gapped up today challenging its 52-week high and trading near its "max buy" level after reporting earnings +129% on +31% sales revenues for the April '13 quarter versus the year ago period. Its 50 DMA line ($14.53 now) defines important chart support to watch. >>> The latest Featured Stock Update with an annotated graph appeared on 5/29/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
CELG - NASDAQ Celgene Corp DRUGS - Drug Manufacturers - Major	$112.20	-5.57 -4.73%	$118.15	5,320,155 168.11% of 50 DAV 50 DAV is 3,164,600	$131.82 -14.88%	3/27/2013	$113.24	PP = $115.54
								MB = $121.32
Most Recent Note - 6/5/2013 7:23:29 PM Sank deeper below its 50 DMA line with a 4th consecutive loss backed by above average volume. Triggered another more worrisome technical sell signal as it violated the prior low (5/02/13 low $114.05) defining important chart support. It will be dropped from the Featured Stocks list tonight. See the latest FSU analysis for more details and a new annotated graph. >>> The latest Featured Stock Update with an annotated graph appeared on 6/5/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
EQM - NYSE E Q T Midstream Partners ENERGY - Oil and Gas Pipelines	$45.44	-0.81 -1.75%	$46.08	185,334 170.81% of 50 DAV 50 DAV is 108,500	$51.72 -12.14%	4/25/2013	$40.16	PP = $40.84
								MB = $42.88
Most Recent Note - 6/4/2013 7:01:35 PM G - Down with above average volume today, encountering distributional pressure. Retreating since a "negative reversal" on 5/28/13 at its 52-week high. Still well above its 50 DMA line defining important near-term chart support. >>> The latest Featured Stock Update with an annotated graph appeared on 5/16/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
FLT - NYSE Fleetcor Technologies DIVERSIFIED SERVICES - Business/Management Services	$84.13	-1.20 -1.41%	$85.82	555,272 62.19% of 50 DAV 50 DAV is 892,800	$88.83 -5.29%	5/29/2013	$86.02	PP = $85.66
								MB = $89.94
Most Recent Note - 5/31/2013 7:33:26 PM Y- Was last noted in the mid-day report on 5/29/13 with a new pivot point cited based on its 5/03/13 high, and it rose from an advanced "3-weeks tight" base with a gain on the session backed by +56% above average volume. It may go on to produce more climactic gains, however this was a riskier "late-stage" base. See the latest FSU analysis for more details and a new annotated graph. >>> The latest Featured Stock Update with an annotated graph appeared on 5/31/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
LOPE - NASDAQ Grand Canyon Education DIVERSIFIED SERVICES - Education and; Training Services	$31.50	-0.09 -0.28%	$32.10	212,613 52.82% of 50 DAV 50 DAV is 402,500	$34.07 -7.54%	5/10/2013	$29.03	PP = $27.28
								MB = $28.64
Most Recent Note - 6/3/2013 5:43:15 PM G - Volume totals have been cooling while holding its ground stubbornly perched at its 52-week high, very extended from its previous base. Prior highs in the $27 area define support to watch on pullbacks. Gains of greater than +20% in the first 2-3 weeks following its "breakaway gap" suggest holding for a minimum of 8 week under the fact-based investment system's rules. See the latest FSU analysis for more details and a new annotated graph. >>> The latest Featured Stock Update with an annotated graph appeared on 6/3/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
MRLN - NASDAQ Marlin Business Services DIVERSIFIED SERVICES - Rental and Leasing Services	$23.01	-0.17 -0.73%	$23.59	44,104 189.29% of 50 DAV 50 DAV is 23,300	$25.97 -11.40%	3/15/2013	$22.29	PP = $23.18
								MB = $24.34
Most Recent Note - 6/3/2013 2:02:46 PM G - Slumping under its 50 DMA line and its color code is changed to green. The recent low ($21.49 on 5/23/13) defines important near-term support below that short-term average where a violation would raise more serious concerns. >>> The latest Featured Stock Update with an annotated graph appeared on 5/23/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
NSM - NYSE Nationstar Mtg Hldgs Inc FINANCIAL SERVICES - Credit Services	$40.65	-0.98 -2.35%	$41.32	880,076 70.49% of 50 DAV 50 DAV is 1,248,500	$46.91 -13.34%	5/7/2013	$39.71	PP = $42.34
								MB = $44.46
Most Recent Note - 6/3/2013 4:30:52 PM Y - Volume was below average behind today's gain following a spurt of damaging losses marked by above average volume. Weak action recently negated its prior breakout and raised concerns. Disciplined investors always limit losses if any stock falls more than -7% from their purchase price. >>> The latest Featured Stock Update with an annotated graph appeared on 5/28/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
PRAA - NASDAQ Portfolio Recovery Assoc DIVERSIFIED SERVICES - Business/Management Services	$149.24	-1.17 -0.78%	$151.29	54,170 78.39% of 50 DAV 50 DAV is 69,100	$153.85 -3.00%	5/1/2013	$130.77	PP = $127.88
								MB = $134.27
Most Recent Note - 5/30/2013 4:55:19 PM G - Edged higher with below average volume today for a 4th consecutive gain and its best-ever close. Very extended from prior highs in the $127 area and well above its 50 DMA line defining important chart support. >>> The latest Featured Stock Update with an annotated graph appeared on 5/22/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
PRLB - NYSE Proto Labs Inc MANUFACTURING - Small Tools and Accessories	$51.52	-1.48 -2.79%	$53.08	210,389 38.46% of 50 DAV 50 DAV is 547,000	$59.84 -13.90%	5/3/2013	$54.77	PP = $54.01
								MB = $56.71
Most Recent Note - 6/3/2013 2:10:12 PM Y - Pulling back again today on light volume. Stayed well above its 50 DMA line during its recent consolidation, but a violation may trigger a technical sell signal. >>> The latest Featured Stock Update with an annotated graph appeared on 5/24/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
RRTS - NYSE Roadrunner Trans Systems TRANSPORTATION - Air Delivery and Freight Service	$27.13	-0.64 -2.30%	$27.78	128,740 61.60% of 50 DAV 50 DAV is 209,000	$28.24 -3.93%	4/3/2013	$22.77	PP = $23.75
								MB = $24.94
Most Recent Note - 6/4/2013 6:54:11 PM G - Volume totals have been cooling while hovering at all-time highs. Fundamental concerns were raised by its sub par earnings increase in the Mar '13 quarter, below the +25% minimum guideline (C criteria). See the latest FSU analysis for more details and a new annotated graph. >>> The latest Featured Stock Update with an annotated graph appeared on 6/4/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
VRX - NYSE Valeant Pharmaceuticals DRUGS - Drug Manufacturers - Other	$84.16	-1.02 -1.20%	$87.19	1,627,664 88.55% of 50 DAV 50 DAV is 1,838,200	$96.25 -12.56%	4/30/2013	$60.24	PP = $76.66
								MB = $80.49
Most Recent Note - 6/4/2013 6:56:15 PM G- Ended near the session low with a loss on average volume. It is extended from prior highs and prior reports cautioned - "Sub par earnings for the Mar '13 quarter below the +25% minimum guideline (C criteria) raised fundamental concerns." >>> The latest Featured Stock Update with an annotated graph appeared on 5/17/2013. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M