Technical Notes

U.S. equity index futures moved higher and crude oil prices dropped substantially after Iran pre-warned the U.S. that it will retaliate with a “one and done” response to the U.S. “bunker buster” attack. U.S. crude oil ETN: USO plunged 8.07%..U.S. equity indices moved higher.

Base Metals ETN (DBB) with 1/3 equal weight in Zinc, Copper and Aluminum moved above $19.02 extending an intermediate uptrend. Base metal stocks responded by moving higher.

Morgan Stanley (MS) an S&P 100 stock moved above $133.03 extending an intermediate uptrend. Seasonal influences are favourable until early August and frequently into early September. See: https://charts.equityclock.com/morgan-stanley-nysems-seasonal-chart

Lulu Lemon (LULU) a NASDAQ 100 stock moved below $226.01 to a five year low extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 23^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 23^rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 23^rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

More to markets than the MAG 7: Stephanie Gould from Robinhood

More To Markets Than The Mag7 with Robinhood CIO Stephanie Guild – YouTube

Wharton’s Siegel on Iran strike: Potential positives and negatives for markets have both gone up

Wharton’s Siegel on Iran strike: Potential positives and negatives for markets have both gone up – YouTube

The market is looking for an off-ramp from Iran, says RBC’s Helima Croft

The market is looking for a off-ramp from Iran, says RBC’s Helima Croft – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 5.80 to 72.80. It remains Overbought.

The long term Barometer added 3.00 to 52.40. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer added 3.76 to 88.02. It remains Overbought.

The long term Barometer was unchanged at 74.19. 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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