Tech Talk for Tuesday June 22nd 2021

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Pre-opening Comments for Tuesday June 22nd

U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Investors are waiting for testimony this morning by Federal Reserve chairman Jerome Powell before a Congressional committee.

Nutrien (NTR Cdn$73.70) a TSX 60 stock is expected to open higher after the company raised its second quarter earnings guidance. The company also announced plans to expand potash production again this year from 500,000 metric tonnes to 1,000,000 metric tonnes

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Nvidia added $5.62 to $742.71 after Raymond James raised its target price from $750 to $900.

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Alphabet slipped $1.25 to $2,435.00 after the European Union opened an antitrust probe into the company’s advertising policies.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/06/21/stock-market-outlook-for-june-22-2021/

 

Technical Notes for yesterday

Turkey iShares $TUR moved below $21.37 extending an intermediate downtrend.

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Copart $CPRT a NASDAQ 100 stock moved above $130.96 to an all-time high extending an intermediate uptrend.

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Intuitive Surgical $ISRG a NASDAQ 100 stock moved above $893.79 to an all-time high extending an intermediate uptrend.

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Microsoft $MSFT a Dow Jones Industrial Average stock moved above $262.58 to an all-time high.

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Shopify $SHOP.CA a TSX 60 stock moved above Cdn$1,900.58 to an all-time high extending an intermediate uptrend.

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Thomson Reuters $TRI.CA a TSX 60 stock moved above Cdn$121.51 to an all-time high extending an intermediate uptrend.

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Trader’s Corner

 

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 21st 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

 

Commodities

Daily Seasonal/Technical Commodities Trends for June 21st 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for June 21st 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

All seasonality ratings are based on performance relative to the S&P 500 Index

 

Changes in Seasonality Ratings

Emerging Markets iShares EEM changed on a real and relative basis (relative to the S&P 400 Index) from Neutral in mid-June to Positive until at least the beginning of November

 

Global Base Metal iShares (XBM on the TSX) remain Neutral to October 1st on a real basis and change from Negative to Neutral to October 1st relative to the S&P 500 Index.

S&P 500 Momentum Barometers

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The intermediate term Barometer advanced 13.83 to 46.49 yesterday. It change from Oversold to Neutral on a recovery above 40.00.

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The long term Barometer added 1.20 to 89.78 yesterday. It remains Extremely Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer added 4.81 to 60.83 yesterday. It changed back from Neutral to Overbought on a move above 60.00.

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The long term Barometer added 0.58 to 74.65 yesterday. It remains Overbought.

 

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




3 Responses to “Tech Talk for Tuesday June 22nd 2021”

  1. KC Says:

    Hi ron/BC,

    Hoping I can get your thoughts/TA on AR, FVI, WDO and KL on the tsx please. Can you draw comparisons between those in terms of what you think might be a good option for a gold/silver play?

    Thanks,
    KC

  2. Ron/BC Says:

    KC

    Sorry I can’t help I just sold my condo and bought another and am up to my neck in paper work & packing etc.

  3. KC Says:

    Hi Ron/BC,

    No worries, thanks for the response. Best of luck with everything.

    Cheers,
    KC

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