Tech Talk for Wednesday June 13th 2018

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Pre-opening Comments for Wednesday June 13th

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

Index futures were virtually unchanged following release of the May Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.1% in April. Actual was an increase of 0.5%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.2% in April. Actual was an increase of 0.3%.

Time Warner gained $3.78 to $100.00 after a Federal judge approved its takeover by AT&T in a deal valued at $85 billion.

H&R Block dropped $5.65 to $23.95 after lowering its guidance. BMO Capital lowered its target price to $25 from $29.

Weight Watchers gained $0.76 to $92.50 after JP Morgan upgraded the stock to Overweight.

EquityClock’s Daily Market Comment

http://www.equityclock.com/2018/06/12/stock-market-outlook-for-june-13-2018/

Note seasonality charts on U.S. Consumer Prices and the Biotech industry.

Observation

After a long uptrend, lumber prices have rolled over, broken support at $579.00 and completed a double top pattern.

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StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:15: Quiet. Intermediate breakouts: $EQT $GWW. No breakdowns.

Editor’s Note: After 10:15 AM EDT, breakouts included RSG, CHRW, AMT, HBI and GPN. Breakdown: SYK

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US #CPI ex Food and Energy up 0.2% in May, double the average increase for the month of 0.1%. #Economy #Inflation $MACRO

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for June 12th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for June 12th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for June 12th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer slipped 0.20 to 74.60 yesterday. It remains intermediate overbought.

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TSX Momentum Barometer

The Barometer was unchanged yesterday at 69.58. It remains intermediate overbought and showing signs of rolling over.

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Disclaimer: Seasonality and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed

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One Response to “Tech Talk for Wednesday June 13th 2018”

  1. Larry/ON Says:

    Fed Rate Decision was very hawkish with at least two more hikes expected coming this year after today’s. BOC will likely only do one more this year. That spells weakness for $CAD. The only thing that would possibly reverse CAD weakness would be a sudden trade agreement with the US and how likely does anyone think that will be. If CAD drops below 76.30 it will break major support heading easily down below 0.75 with major support at 72.50.

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