Tech Talk for Wednesday June 27th 2018
U.S. equity index futures were lower this morning. S&P 500 futures were down 2 points in pre-opening trade. Index futures recovered about 10 points after concerns about an imminent trade war with China related to using U.S. technology will be re-examined.
Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for May Durable Goods Orders was a drop of 1.0%. Actual was a drop of 0.6%. Excluding transportation, consensus for May Durable Goods Orders was an increase of 0.3%. Actual was down 0.3%.
Lennar (LEN $51.65) is expected to open lower after JP Morgan lowered its target price on the stock to $73 from $77.
World Wrestling Entertainment gained $6.73 to $73.35 after announcing additional media exposure to its services.
General Mills gained $1.89 to $47.95 after reporting higher than consensus fiscal fourth quarter earnings.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/06/26/stock-market-outlook-for-june-27-2018/
Note seasonality charts on the U.S. Financial sector, Commercial and Industrial Loans, Consumer Loans, Margin Debt and Copper Futures.
StockTwits Released Yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $PPG $CCI $DTE $PNW. Breakdowns: $DLPH $WHR $C $NKTR
Editor's Note: After 10:00 AM EDT, intermediate breakouts included SBAC, XEL and EQIX. Breakdown: MTB.
Sun Life Financial $SLF.CA, a TSX 60 stock moved below $52.90 completing a double top pattern.
Europe iShares $IEV moved below $44.45 extending an intermediate downtrend.
Trader's Corner
Daily Seasonal/Technical Equity Trends for June 26th 2018
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for June 26th 2018
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for June 26th 2018
Green: Increase from previous day
Red: Decrease from previous day
Keith Richards' Blog
Keith notes that a short term reprieve may be coming for the Loonie, but it likely won't last. See
S&P Momentum Barometer
The Barometer was unchanged yesterday at 54.60. It remains intermediate Neutral and trending down.
TSX Momentum Barometer
The Barometer added 1.66 to 62.66 yesterday. It remains intermediate overbought and trending down.
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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