The Bottom Line
Last week, short term traders focused on the proposed 60 day peace agreement reached between Iran and U.S. /Israel to halt the Middle East conflict. World equity prices moved higher and crude oil futures moved lower in anticipation of finalizing a deal over this weekend.
Successful launch of the SpaceX IPO (SPCX) on Friday also encouraged short term bullish sentiment. The launch was the largest IPO in history. Share price closed at $161.11, up 19.3% from the issue price at $135.00.
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 21.9% from 21.7% last week. Consensus for revenue gains remained at 12.0%.
- Consensus for third quarter 2026 earnings gains increased to 25.3% from 25.1%.last week. Consensus for revenue gains remained at 10.7%.
- Consensus for fourth quarter 2026 earnings gains increased to 22.8% from 22.6%. Consensus for revenue gains remained at 10.2%.
- For all of 2026, consensus for earnings gains increased to 23.2% from 22.8%. Consensus for revenue gains increased to 11.0% from 10.8%.
Release of 2027 earnings and revenue estimates also offered encouraging news. Consensus calls for a 16.2% earnings increase and a 7.6% revenue increase above 2026 estimates.
Economic News This Week
Source: www.marketwatch.com
June Empire State Manufacturing Survey released at 8:30 AM EDT on Monday is expected to slip to 13.9 from 19.6 in May.
May U.S. Industrial Production released at 9:15 AM EDT on Monday is expected to slip to 0.3% from 0.7% in April.
May U.S. Housing Starts released at 8:30 AM EDT on Tuesday are expected to slip to 1.4 million units from 1.5 million units in April.
May U.S. Retail Sales released at 8:30 AM EDT on Wednesday are expected to increase 0.5% versus a 0.5% increase in April.
May U.S. Leading Economic Indicators released at 10:00 AM EDT on Thursday are expected to increase 0.2 versus a 0.1 increase in April.
U.S. security markets are closed on Friday for the Juneteenth holiday
Selected Earnings News This Week
Source: www.Investing.com
A Quiet week ahead!
Tuesday: La-Z.Boy
Wednesday: Jabil, CarMax
Thursday: Accenture, Empire Companies.
Technical Notes for Friday
United States Oil Fund (USO) completing a short term Head & Shoulders pattern on a move below US$127.38 and US$126.55 per barrel
Linde (LIN) an S&P 100 stock moved above $519.64 to an all-time high extending an intermediate uptrend
U.S. Money Center stocks moving above resistance extending an intermediate uptrend included
Bank of America (BAC) an S&P 100 stock on a move above 55.11 and 56.26, US Bancorp (USB) an S&P 100 stock on a move above $60.56 and JP Morgan (JPM) a Dow Jones Industrial Average stock on a move above $320.23
Salesforce.com (CRM) a Dow Jones Industrial Average stock moved below $163.10 to a 2 year low extending an intermediate downtrend.
Couche Tard (ATD.TO) a TSX 60 stock moved above Cdn$85.36 to an all-time high extending an intermediate uptrend.
Forest product ETFs recorded double bottom patterns on Friday. iShares Global Timber ETF (WOOD) moved above $68.15 and Invesco Global Timber ETF (CUT) moved above $27.79 .
Changes Last Week
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for June 12th 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 12th 2026
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 12th 2026
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Michael Campbell’s Money Talks for June 13th
https://mikesmoneytalks.ca/category/mikes-content/complete-show/
Stock Market Deep Dive! Iran Deal, SpaceX IPO, Oil Targets, & Bitcoin Bull Setup: Verified Investing
Stock Market Deep Dive! Iran Deal, SpaceX IPO, Oil Targets, & Bitcoin Bull Setup – YouTube
The $1.75 Trillion SpaceX IPO Will Test This Rally: Guy Adami, Dan Nathan and Liz Thomas
The $1.75 Trillion SpaceX IPO Will Test This Rally – YouTube
The Speculation Generation | 2026 Market Concentration with Jeff Huge and Dave Keller
The Speculation Generation | 2026 Market Concentration with Jeff Huge – YouTube
CHART THIS with Dave Keller Friday 6/12/26
https://www.youtube.com/watch?v=XSG4Btwzo44
SpaceX First Two Trillion Dollar Company: Bob Hoye
https://www.howestreet.com/2026/06/spacex-first-two-trillion-dollar-company-bob-hoye/
U.S. Canada Trade Agreement is in Deep Trouble
https://www.howestreet.com/2026/06/u-s-canada-trade-agreement-is-in-deep-trouble/
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.60 on Friday and gained 6.20 last week to 61.00. It changed from Neutral to Overbought on a recovery above 60.00. Daily trend remained up.
The short term (20 days) Barometer advanced 6.60 on Friday and gained 11.00 last week to 71.40. It remained Overbought. Daily uptrend was extended on Friday.
The long term Barometer added 0.80 on Friday and gained 1.20 last week to 61.60. It remained Overbought. Daily trend remained up.
TSX Momentum Barometers
The intermediate term Barometer added 3.18 on Friday and gained 4.09 last week to 53.64. It remained Neutral.
The short term (20 days) Barometer added 1.36 on Friday and gained 4.55 last week to 54.09. It remained Neutral.
The long term Barometer advanced 3.84 on Friday and gained 4.09 last week to 67.27. 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
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Equity Clock Publications