Tech Talk for Friday June 23rd 2023
U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points at 8:30 AM EDT.
MMM advanced $3.59 to $103.78 after reaching a settlement valued at $10.3 billion on its "forever chemical" suit.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/06/clip_image0011-7.png "clip_image001[1]")
Smith & Wesson gained $0.36 to $11.60 after reporting higher than consensus fiscal fourth quarter results.
Block dropped $0.57 to $63.54 after Truist lowered its target price from $105 to $80.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/06/clip_image0031-8.png "clip_image003[1]")
Affirm added $0.04 to $14.93 after Truist raised its target price from $17 to $24.
EquityClock's Daily Comment
Headline reads "VIX has printed the first 12-handle since the months prior to the pandemic as the market hovers on the edge of complacency".
http://www.equityclock.com/2023/06/22/stock-market-outlook-for-june-23-2023/
Technical Notes
Solar ETF $TAN moved below $67.98 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for June 22nd 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for June 22nd 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 22nd 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for positive seasonal ratings: www.equityclock.com
Links offered by valued providers
Sprott Uranium Report
Sprott Uranium Report: Uranium Remains Resilient, While Threats of Nationalism Rattle Equities
The Fed will ‘make the mistake’ of raising rates again this year, says Virtus’ Joe Terranova
Is the S&P 500 a Ticking Time Bomb? | Jeff Huge, CMT | Your Daily Five (06.22.23)
Is the S&P 500 a Ticking Time Bomb? | Jeff Huge, CMT | Your Daily Five (06.22.23) - YouTube
Opportunities Building As Profit Taking Kicks In | Trading Places | Tom Bowley (06.22.23)
Opportunities Building As Profit Taking Kicks In | Trading Places | Tom Bowley (06.22.23) - YouTube
U.S. stocks head for punishing selloff as 'unknown unknowns' could drag market lower, JPMorgan analysts warn
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 4.80 to 59.80. It changed from Overbought to Neutral on a move below 60.00.
The long term Barometer dropped 3.20 to 59.40. It changed from Overbought to Neutral on a move below 60.00.
TSX Momentum Barometers
The intermediate term Barometer dropped 6.13 to 26.20. It remains Oversold. Daily trend is down.
The long term Barometer dropped 3.75 to 43.23. It remains Neutral. Daily trend is down.
Disclaimer: Seasonality ratings 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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