Tech Talk for Wednesday June 19th 2019

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Investors are waiting for news from the U.S. Federal Reserve at 2:00 PM EDT. Consensus calls for no change in the Fed Fund Rate at 2.50%, but guidance toward a reduction later this year.

The Canadian Dollar advanced 0.16 to 74.89 at U.S. 74.75 cents following release of Canada's May Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.4% in April. Actual was an increase of 0.4%.

Re-approval of expansion of the Trans Mountain Oil Pipeline late yesterday by the Canadian federal government is expected to have a minimal impact on Canadian equity prices this morning.

Southwest Airlines added $0.20 to $51.90 after raising guidance.

Adobe gained $12.22 to $289.00 after reporting higher than consensus quarterly earnings.

U.S. Steel gained $0.67 to 15.25 despite lowering second quarter sales and earnings guidance below consensus.

EquityClock's Daily Market Comment

Following is the link:

http://www.equityclock.com/2019/06/18/stock-market-outlook-for-june-19-2019/

Note seasonality chart on U.S. Housing Starts

StockTwits released yesterday @EquityClock

US #Housing Starts up 0.7% (NSA) in May, weaker than the 4.5% average increase for this time of year. $MACRO #Economy

Home Builders ETF $XHB moved above $41.58 extending an intermediate uptrend.

Gold Miners ETF $GDX moved above $23.70 extending an intermediate uptrend.

Constellation Software $CSU.CA, a TSX 60 stock moved above $1226.06 to an all-time high extending an intermediate uptrend.

Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $GILD $FRT $SLG $VRTX $FLR. No breakdowns.

Editor's Note: After 10:00 AM EDT, intermediate breakout: BA, intermediate breakdown: SLG.

Canada #Manufacturing Sales down 3.7% (NSA) in April, better than the 5.2% decline that is average for the spring month. $MACRO #Economy

Agriculture ETF $MOO moved above $64.75 extending an intermediate uptrend.

Toronto Dominion Bank $TD.CA, a TSX 60 stock moved above $76.73 extending an intermediate uptrend.

Laurentian Bank $LB.CA moved above $45.50 completing a long term reverse Head & Shoulders pattern.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for June 18th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for June 18th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 18th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 7.82 to 64.13 yesterday. It changed to intermediate overbought from intermediate neutral on a move above 60.

TSX Momentum Barometer

The Barometer added 2.55 to 54.04 yesterday. It remains intermediate neutral.

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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