Pre-opening Comments for Wednesday June 11^th

U.S. equity index futures were higher this morning. S&P 500 futures advanced 21 points at 8:35 AM EDT.

U.S. and Chinese negotiators have agreed to a trade framework to implement agreements (subject to approval by President Trump and Chairman Xi Jinping).

S&P 500 futures gained 30 points following release of the May U.S. Consumer Price Index at 8:30 AM EDT. Consensus was a 0.2% increase versus a 0.2% gain in April. Actual was a 0.1% gain. On a year-over-year basis, May CPI was expected to increase 2.4% versus a 2.3% gain in April. Actual was a 2.4% gain. Excluding food and energy, May CPI was expected to increase 0.2% versus a 0.2% increase in April. Actual was up 0.1%. On a year-over-year basis, core May CPI was expected to increase 2.9% versus a 2.8% increase in April. Actual was a 2.8% gain.

General Motors added $0.17 to $49.10 after announcing plans to invest $4 billion in U.S. manufacturing plants.

Stitch Fix added $0.24 to $5.03 after reporting higher than consensus third quarter revenues.

Chewy dropped $3.14 to $42.65 after reporting less than consensus first quarter earnings.

EquityClock’s Market Outlook for June 11^th

Enthusiasm towards stocks is waning as US equity benchmarks approach their prior highs. See:

https://equityclock.com/2025/06/10/stock-market-outlook-for-june-11-2025/

Technical Notes

Oil Service ETF (OIH) moved above $238.22 extending an intermediate uptrend.

First Trust Natural Gas ETF (FCG) moved above $23.63 extending an intermediate uptrend.

Biotech ETFs completed intermediate double bottom pattern setting uptrends. VanEck Biotech ETF (BBH) moved above $153.61. NASDAQ Biotech iShares (IBB) moved above $126.08.

S&P 100 and NASDAQ 100 stocks moving above resistance extending an intermediate uptrends included Analog Devices (ADI) on a move above $227.76, Advanced Micro Devices (AMD) on a move above $122.52, United Parcel Service (UPS) on a move above $101.17, PayPal (PYPL) on a move above $74.15, Diamondback Energy (FANG) on a move above $146.73, Medtronic (MDT) on a move above $88.28, Walt Disney (DIS) on a move above $118.59, Target (TGT) on a move above $101.84, Micron (MU) on a move above $114.37 and Chevron (CVX) on a move above $141.98,

TSX 60 stocks moving above resistance extending an intermediate trend included Imperial Oil (IMO) on a move above Cdn$102.45, Couche Tard (ATD) on a move above Cdn$74.38 and Magna International (MG) on a move above Cdn$51.70.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 10^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for June 10^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 10^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Wilson on Stocks, Market Headwinds, Trump Tax Bill

Wilson on Stocks, Market Headwinds, Trump Tax Bill – YouTube

RBC’s Amy Wu Silverman: I’d characterize the market right now as ‘hoping, but not hopeful’

RBC’s Amy Wu Silverman: I’d characterize the market right now as ‘hoping, but not hopeful’ – YouTube

The Bear Traps’ Larry McDonald on his 30/30/30/10 portfolio: A larger component of commodities

The Bear Traps’ Larry McDonald on his 30/30/30/10 portfolio: A larger component of commodities – YouTube

The Big Concern With This S&P 500 Rally: What Investors Need To Know: Guy Adami and Dan Nathan

The Big Concern With This S&P 500 Rally: What Investors Need To Know – YouTube

Stocks: What key technical indicators are signaling about market upside: Michele Schneider

Stocks: What key technical indicators are signaling about market upside – YouTube

60 Year Market Veteran Warns: U S Stocks Could Crash, Gold & Canada Are Safer: Ross Healy

60 Year Market Veteran Warns: U S Stocks Could Crash, Gold & Canada Are Safer – YouTube

The Fed’s rate cut path. Here’s the breakdown: Steve Leisman

The Fed’s rate cut path. Here’s the breakdown – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 3.60 to 78.20. It remains Overbought.

The long term Barometer added 2.00 to 54.40. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer added 1.38 to an all-time high at 91.71. It remains Overbought. Daily uptrend was extended.

The long term Barometer added 2.76 to 78.80. It remains Overbought. Daily uptrend was extended.

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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