Pre-opening Comments for Tuesday June 24th
U.S. equity index futures were higher this morning. S&P 500 futures were up 43 points at 8:35 AM EDT.
The Canadian Dollar was unchanged at US72.89 cents following release of Canada’s May Consumer Price Index at 8:30 AM EDT. Consensus was a 0.5% increase versus a 0.1% decrease in April. Actual was a 0.6% increase. On a year-over-year basis consensus was a 1.7% increase. Actual was a 1.7% increase.
Federal Reserve Chairman Powell is scheduled to appear before Congressional committees at 10:00 AM EDT today and tomorrow to update the FOMC’s monetary policy
WTI Crude Oil dropped another $2.00 to $66.51 per barrel in response to a potential resolution in the Middle East that will reduce conflict.
KB Homes dropped $0.98 to $52.34 after the company lowered its fiscal third quarter guidance.
Starbucks added $0.46 to $92.80 after announcing the possibility on selling its Chinese operations.
EquityClock’s Market Outlook for June 24th
International ETFs showing signs of upside exhaustion following a strong start to the year.
https://equityclock.com/2025/06/23/stock-market-outlook-for-june-24-2025/
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 23th 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 23rd 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 23rd 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
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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Equity Clock Publications