Pre-opening Comments for Wednesday June 18^th

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

S&P 500 futures were unchanged following release of U.S. May Housing Starts at 8:30 AM EDT. Consensus calls for a drop to 1.350 million units from 1.361 million units in April. Actual was a drop to 1.256 million units

The Federal Reserve’s decision on the Fed Fund Rate is released at 2:00 PM EDT. Consensus calls for no change at 4.50%.

U.S. equity exchanges are closed tomorrow for the Juneteenth holiday.

Oracle added $1.82 to $210.00 after Guggenheim upgraded the stock.

EquityClock’s Market Outlook for June 18^th

Pre-tariff front-running has come to an end and the consumer is showing evidence of pulling back. See:

https://equityclock.com/2025/06/17/stock-market-outlook-for-june-18-2025/

CHART THIS with David Keller, CMT Tuesday 6/17/25

https://www.youtube.com/watch?v=O3wbFYJeey0

Technical Notes

Oil & Gas Exploration SPDRs (XOP) moved above $135.46 extending an intermediate uptrend.

Copart $CPRT a NASDAQ 100 stock moved below $48.05 extending an intermediate downtrend.

Thermo Fisher Scientific (TMO) an S&P 100 stock moved below $390.09 extending an intermediate downtrend.

Constellation Software (CSU.TO) a TSX 60 stock moved below $4,791.58 completing a double top pattern.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 17^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 17^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 17^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Silver Pops & VIX Backwardation: What to Watch as SPX Slumps: Schwab Network

Silver Pops & VIX Backwardation: What to Watch as SPX Slumps – YouTube

Israel-Iran Conflict: What Investors Need To Know | Stock Market Live Stream: Guy Adami and Dan Nathan

Israel-Iran Conflict: What Investors Need To Know | Stock Market Live Stream – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 6.40 to 68.20. It remains Overbought. Daily downtrend likely has started.

The long term Barometer dropped 4.00 to 49.00. It remains Neutral.

The short term (20 days) Barometer plunged 14.20 to 39.40.

TSX Momentum Barometers

The intermediate term Barometer dropped 1.38 to 88.48. It remains Overbought. Early signs of a rollover have appeared.

The long term Barometer was unchanged at 76.50. It remains Overbought.

The short term (20 days) Barometer plunged 6.07 to 69.12/

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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