Tech Talk for Tuesday June 19th 2018

U.S. equity index futures were sharply lower this morning. S&P 500 futures were down 28 points in pre-opening trade. Futures are responding to a proposal to impose tariffs on an additional $200 billion of U.S. imports. The Shanghai Composite Index plunged 3.82% in overnight trade.

Index futures were virtually unchanged following release of U.S.M ay Housing Starts released at 8:30 AM EDT. Consensus was annualized 1.300 million units versus 1.287 million units in April. Actual was 1.350 million units

Dr. Pepper Snapple (DPS $121.80) is expected to open lower after Stiffel Nicolaus downgraded the stock to Hold from Buy.

Intuit added $0.84 to $210.00 after Stiffel Nicolaus upgraded the stock to Buy from Hold.

Red Hat dropped $3.27 to $173.00 after Raymond James downgraded the stock to Market Perform from Outperform.

Verizon added $0.24 to $47.70 after Deutsche Bank upgraded the stock to Buy from Neutral.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/06/18/stock-market-outlook-for-june-19-2018/

Note seasonality charts on the Consumer Staples sector, Freight Shipments and the Dow Jones Transportation Average.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bearish. No intermediate breakouts. Breakdowns: $CB $IVZ $MYL $COL.

Editor's Note: After 10:00 AM EDT, breakouts included PEG, EXC, GOOGL and ADSK. Breakdowns included DG and TRV

More weakness in grain prices! Wheat ETN $WEAT moved below $6.45 completing a double top pattern.

Base Metals ETF $PICK move below $33.97 setting an intermediate downtrend.

Coffee ETN $JJOFF moved below $13.60 extending an intermediate downtrend.

Alphabet $GOOGL one of the FAANG stocks moved above $1,078.16 extending an intermediate uptrend.

TransCanada PipeLines $TRP.CA, a TSX 60 stock moved above $56.58 completing a reverse Head & Shoulders pattern.

CASS Freight Index showing a 5.9% increase in shipment activity in May, well above the 1.9% average increase for month. $MACRO #Economy

Trader's Corner

Daily Seasonal/Technical Equity Trends for June 18th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for June 18th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for June 18th 2018

Green: Increase from previous day

Red: Decrease from previous day

Josef Schachter on BNNBloomberg

Josef was on Market Call yesterday where he gave an update on the Canadian energy sector:

Market Comment https://www.bnnbloomberg.ca/video/josef-schachter-s-market-outlook~1420399

Top Picks:https://www.bnnbloomberg.ca/video/josef-schachter-s-top-picks~1420471

Past Picks https://www.bnnbloomberg.ca/video/josef-schachter-s-past-picks~1420421

S&P 500 Momentum Barometer

The Barometer dropped 2.34 to 68.00 yesterday. It remains intermediate overbought and showing early signs of rolling over.

TSX Momentum Barometer

The Barometer added 1.25 to 69.58 yesterday. It remains intermediate overbought and showing early signs of rolling over.

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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