Pre-opening Comments for Thursday June 12th
U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points at 8:35 AM EDT.
S&P 500 futures recovered 8 points following release of the May U.S. Producer Price Index at 8:30 AM EDT. Consensus was a 0.2% increase versus a 0.5% drop in April. Actual was a 0.1% gain. On a year-over-year basis, May PPI was expected to increase 2.6% versus 2.4% in April. Actual was a 2.6% increase. Excluding food and energy, May PPI was expected to increase 0.3% versus a 0.4% drop in April. Actual was a 0.1% gain. On a year-over-year basis, May PPI was expected to increase 3.0% versus 3.1% in April. Actual was a 3.0% increase.
Oracle advanced $11.52 to $187.90 after reporting higher than consensus fiscal fourth quarter earnings.
GameStop dropped$3.19 to $25.36 on reports that the company is planning an additional convertible bond issue.
Boeing dropped $16.50 to $197.50 after a 787 aircraft crashed.
EquityClock’s Market Outlook for June 12th
The report on Consumer Prices tells the story of where to invest in the uncertain market and economy. See:
https://equityclock.com/2025/06/11/stock-market-outlook-for-june-12-2025/
Technical Notes
S&P Oil & Gas SPDRs (XOP) moved above $128.32 extending an intermediate uptrend.
Gasoline ETN $UGA moved above $61.52 extending an intermediate uptrend. Responding to higher crude oil prices!
Hong Kong iShares (EWH) moved above $20.85 to a 28 month high resuming an intermediate uptrend. Responding to the U.S./China trading agreement! Seasonal influences are favourable until the end of July. See: https://charts.equityclock.com/ishares-msci-hong-kong-etf-nyseewh-seasonal-chart
Nikkei Average $NIKK) moved above 38,494.86 completing a reverse Head & Shoulders pattern.
DR Horton (DHI) a NASDAQ 100 stock moved above $128.67 completing a double bottom pattern. Seasonal influences are favourable on a real and relative basis until mid-September. See:
https://charts.equityclock.com/d-r-horton-inc-nysedhi-seasonal-chart
Lam Research (LRCX) a NASDAQ 100 stock moved above $91.44 extending an intermediate uptrend.
Shopify (SHOP.TO) a TSX 60 stock moved above $156.99 extending an intermediate uptrend.
Seasonal influences are favourable on a real and relative basis until the end of August. See:
https://charts.equityclock.com/shopify-inc-tseshop-to-seasonal-chart
CGI Group (GIB) a TSX 60 stock moved above US$51.01 extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for June 11th 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 11th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 11th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Is the S&P 500 Flashing a Bearish Divergence? Dave Keller
Is the S&P 500 Flashing a Bearish Divergence? – YouTube
S&P 500 Nears All-Time High: What Happens Next? Guy Adami and Dan Nathan
S&P 500 Nears All-Time High: What Happens Next? – YouTube
Fundstrat’s Tom Lee: 5 reasons we are in a new bull market and 5 areas of opportunity
Fundstrat’s Tom Lee: 5 reasons we are in a new bull market and 5 areas of opportunity – YouTube
10 year yield warning points to a major shift: Joe Rabil
StockCharts TV | StockCharts.com
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 1.80 to 76.40. It remains Overbought.
The long term Barometer dropped 1.20 to 53.20. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer dropped 1.84 to 89.86. It remains Overbought.
The long term Barometer dropped 1.38 to 77.42. It remains Overbought.
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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Equity Clock Publications