Pre-opening Comments for Tuesday June 10th
U.S. equity index futures were this morning. S&P 500 futures were up 9 points at 8:30 AM EDT.
Taiwan Semiconductors advanced $3.51 to $210.51 after reporting a 40% increase in May sales.
![clip_image001[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/06/clip_image0011-1.png "clip_image001[1]")
Cracker Barrel dropped $3.74 to $57.00 after announcing a plan to issue a $275 million convertible note.
![clip_image002[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/06/clip_image0021-1.png "clip_image002[1]")
Casey’s General Store advanced $37.46 to $476.75 after releasing higher than consensus fiscal fourth quarter earnings and after increasing its annual dividend by 14%. The company also offered positive guidance.
![clip_image003[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/06/clip_image0031-1.png "clip_image003[1]")
Lakeland Industries dropped $3.01 to $16.35 after reporting less than consensus first quarter results.
![clip_image004[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/06/clip_image0041-1.png "clip_image004[1]")
EquityClock’s market outlook for June 10th
A precious metal catch-up trade has materialized and we are there for it. See:
https://equityclock.com/2025/06/09/stock-market-outlook-for-june-10-2025/
Technical Notes
WTI Crude Oil moved above US$64.86 completing a double bottom pattern.
Amex Biotech ETF (FBT) moved above $165.25 setting an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until the third week in July. See First Trust NYSE Arca Biotechnology Index Fund (NYSE:FBT) Seasonal Chart | Equity Clock
US Telecommunications iShares (IYZ) moved above $28.78 to a three year high extending an intermediate uptrend. Seasonal influences are favourable until the end of July. See: iShares U.S. Telecommunications ETF (NYSE:IYZ) Seasonal Chart | Equity Clock
Steel ETF (SLX) moved above $64.89 and $65.04 extending an intermediate uptrend.
S&P/TSE Energy iShares (XEG.TO) moved above Cdn$16.97 extending an intermediate uptrend. Responding to higher WTI Crude oil prices.
Amazon $AMZN a Dow Jones Industrial Average stock moved above $214.84 resuming an intermediate uptrend. Seasonal influences are favourable until the end of July. See: Amazon.com, Inc. (NASD:AMZN) Seasonal Chart | Equity Clock
Pfizer (PFE) a Dow Jones Industrial Average stock moved above $23.98 completing a double bottom pattern.
Cameco a TSX 60 stock moved above Cdn$88.18 and US$62.55 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for June 9th 2025
0
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 9th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 9th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Taking Stock of S&P 500 Sectors with Carter Worth
https://www.youtube.com/watch?v=rMLxYFor5T8
From Tariffs to Tech: Where Smart Money’s Moving Right Now: Mary Ellen McGonagle
From Tariffs to Tech: Where Smart Money’s Moving Right Now – YouTube
SPX Consolidation Into CPI, Health Care Poised for Bounce: Schwab Network
SPX Consolidation Into CPI, Health Care Poised for Bounce – YouTube
Yardeni: Economy buoyed by generous baby boomers helping kids and spending
Yardeni: Economy buoyed by generous baby boomers helping kids and spending – YouTube
Ted Oakley – Oxbow Interview Series – David Rosenberg June 6, 2025
Ted Oakley – Oxbow Interview Series – David Rosenberg June 6, 2025 – YouTube
Why this strategist says not everything is fine with the US economy: David Kelly, JP Morgan
Why this strategist says not everything is fine with the US economy – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 1.20 to 74.60. It remains Overbought.
The long term Barometer added 0.20 to 52.40. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer was unchanged at 90.32. It remains Overbought. Daily trend remains up.
The long term Barometer added 1.38 to 76.04. It remains Overbought. Daily trend remains up.
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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June 10th, 2025 at 4:00 pm
Paula: I saw your posts from last week. ZWB.to has done well (congrats). To me ZWB and ZEB still in a bullish trend (but not a good entry point). Having said that, June is typically a weak(ish) month for the Canadian banks. I would certainly pay attention to the bank trade for a possible top.
Royal Bank (RY.to), on the other hand, looks less solid. I imagine you are interpreting the same. I have attached the daily chart. On the positive side, the 4ema is still above the 18ema. Price could turn up and start another upward trend. But, RY has started to underperform both the TSX and Cdn bank EFT’s. Negative divergence on some indicators and weak seasonality is concerning. To get enthusiastic about RY, I would want the ADX and all three moving averages to start turning up. What are your thoughts?
https://schrts.co/QdfqVaVn
June 10th, 2025 at 5:45 pm
FishFat,
Thanks for your comments. I tend to give the banks a longer leash since they pay such good dividends, it is worth it to me to hold on during consolidations. Also, don’t like paying taxes. For that reason, I watch the weekly charts more closely and will probably wait it out.
I see the divergences on RY and the ADX is indicating no trend with a possible double top. It’s probably just coming back to the level it would have been at if not for the orange clown’s big mistakes.
https://schrts.co/wqAKMSUg
TD, which I sold before the latest run up, looks especially toppy but just keeps on chugging along in spite of making new all time highs on lower volume:
https://schrts.co/jSMhcbje