Pre-opening Comments for Monday June 22nd
U. S. equity indices are higher this morning. S&P 500 futures were up 4 points at 8:35 AM EDT.
The Nikkei Average added 1,103.90 to an all-time high at 72,353.96.
The Canadian Dollar was unchanged at US70.66 following release of Canada’s May Consumer Price Index at 8:30 AM EDT. Consensus called for a year-over-year increase of 3.0% increase. Actual was a 3.2% increase.
Apogee advanced $45.38 to $136.36 after AbbVie offered to purchase the company for $10.9 billion.
EquityClock’s Market Outlook for June 22nd
Looking for cheap technology now that energy pressures are alleviating? A favorable setup in China has us enticed. See:
https://equityclock.com/2026/06/18/stock-market-outlook-for-june-22-2026/
Technical Scoop for June 22nd from David Chapman and www.enrichedinvesting.com
MOU week, Warsh era, oil divergence, index vol, rate fear, precious struggle, inflation tenacity, sales robust See:
https://enrichedinvesting.com/library/
The Bottom Line
Equity prices around the world are responding favourably to lower crude oil prices. Leading the advance is the U.S. technology sector.
Earnings and Revenue Consensus for S&P 500 Companies
Source: www.factset.com
Analysts increased their 2026 earnings and revenue estimates again last week
- Consensus for second quarter 2026 earnings gains increased to 22.0% from 21.9% last week. Consensus for revenue gains increased to 12.1% from 12.0%.
- Consensus for third quarter 2026 earnings gains increased to 25.6% from 25.3%.last week. Consensus for revenue gains remained at 10.7%.
- Consensus for fourth quarter 2026 earnings gains increased to 23.1% from 22.8% last week. Consensus for revenue gains remained at 10.2%.
- For all of 2026, consensus for earnings gains increased to 23.3% from 23.2% last week. Consensus for revenue gains remained at 10.2%.
Consensus for 2027 earnings and revenue estimates also offered encouraging news. Consensus calls for an earnings gains increase to 16.3% from 16.2% last week. Revenue increase remained the same at 7.6% above 2026 estimates.
Economic News This Week
Source: www.marketwatch.com
May U.S New Home Sales released at 10:00 AM EDT on Wednesday are expected to increase to 634,000 units from 622,000 units in April.
May U.S. Personal Income released at8:30 AM EDT on Thursday is expected to increase 0.4% versus no change in April. May Personal Spending is expected to increase 0.5% versus a 0.5% increase in April.
May Core PCE Index released at 8:30 AM EDT on Thursday is expected to increase 0.3% versus a 0.2% increase in April. On a year-over-year basis, the Index is expected to increase 3.4% versus a 3.3% increase in April.
May U.S. Durable Goods Orders released at 8:30 AM EDT on Thursday are expected to record a 0.4% drop versus a 7.9% gain in April.
Revised Next First Quarter U.S. GDP released at 8:30 AM EDT on Thursday is expected to remain unchanged at a 1.6% annualized gain.
June U.S. Consumer Sentiment is released at 10:00 AM EDT on Friday
Selected Earnings Reports This Week
Source: www.investing.com
Monday: Couche Tard
Tuesday: FedEx, Carnival, KB Homes
Wednesday: Micron, Paychex, Trip.com
Thursday: Darden Restaurants, McCormick, BlackBerry
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for June 18th 2026
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 18th 2026
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 18th 2026
Green: Increase from previous day
Red: Decrease from previous day
Changes Last Week
Technical Notes
Taiwan iShares (EWT) moved above $107.40 to an all-time high extending an intermediate uptrend.
South Korea iShares (EWY) moved above $107.40 to an all-time high extending an intermediate uptrend.
U.S. energy equities and related ETFs breaking support setting intermediate downtrends included Energy SPDRs (XLE) on a move below $53.41, Oil and Gas Exploration SPDRs (XOP) on a move below $154.63, Oil Services ETF (OIH) on a move below $392.83 and Chevron (CVX) on a move below $176.13
Intel (INTC) an S&P 100 stock moved above $132.75 to an all-time high extending an intermediate uptrend.
Pfizer (PFE) a Dow Jones Industrial Average stock moved below $25.19 extending an intermediate downtrend.
Accenture (ACN) an S&P 100 stock moved below $155.82 extending an intermediate downtrend.
CGI Group (GIB) a TSX 60 stock moved below US$60.63 extending an intermediate downtrend.
Links offered by valued providers
Michael Campbell’s Money Talks
Michael Campbell’s MoneyTalks – Complete Show (mikesmoneytalks.ca)
This Market Rally Faces A Big Test: Tom Bowley
https://www.youtube.com/watch?v=OYh_APzVM1c
Epic: Iran Deal Inked Early To Take Focus Off Hawkish Fed, Markets Rally: Verified Investing
https://www.youtube.com/watch?v=xfcSUkgd3QI
This US Dollar Breakout Changes Everything: Patrick Ceresna
https://www.youtube.com/watch?v=oj8-RMXvQpY
Mixed Performance Weighs on the MAG7 ETF as it Hits Moment of Truth; Apple Pulls Back: Arthur Hill
CHART THIS with Dave Keller Thursday 6/18/26: Dave Keller
https://www.youtube.com/watch?v=b5WFpP4Tsbs
Will Strait of Hormuz Deal Last? Mark Leibovit
Will Strait of Hormuz Deal Last? – HoweStreet
S&P 500 Momentum Barometers
The intermediate term Barometer added 1.20 on Thursday, but dropped 5.00 last week to 56.00. It changed from Overbought to Neutral on a drop below 60.00.
The short term (20 days) Barometer was unchanged on Friday, but plunged 19.40 last week to 52.00. It changed from Overbought to Neutral on a drop below 60.00.
The long term Barometer dropped 0.60 on Friday and dropped 0.60 last week to 61.00. It remained Overbought.
TSX Momentum Barometers
The intermediate term Barometer dropped 2.27 on Friday and dropped 6.82 last week to 47.73. It remained Neutral. Daily downtrend was extended on Friday.
The short term (20 days) Barometer dropped 4.09 on Friday and dropped 4.09 last week to 49.55. It remained Neutral.
The long term Barometer dropped 1.36 on Friday and slipped 0.91 last week to 66.36. It remained 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
|
|
Equity Clock Publications