{"id":166818,"date":"2023-06-06T08:42:50","date_gmt":"2023-06-06T12:42:50","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=166818"},"modified":"2023-06-06T08:42:50","modified_gmt":"2023-06-06T12:42:50","slug":"tech-talk-for-tuesday-june-6th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/06\/06\/tech-talk-for-tuesday-june-6th-2023\/","title":{"rendered":"Tech Talk for Tuesday June 6th 2023"},"content":{"rendered":"

Pre-opening Comments for Tuesday June 6th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 5 points at 8:30 AM EDT.<\/em><\/p>\n

Raytheon Technologies added $0.25 to $96.00<\/b> after winning a $2.02 billion contract from the U.S. Navy.<\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Spotify gained $5.13 to $156.87<\/b> after announcing plans to cut costs by lowering employee count.<\/em><\/p>\n

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Ciena added $1.12 to $49.25<\/b> after reporting higher than consensus fiscal second quarter revenues and earnings.<\/em><\/p>\n

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Gitlab gained $9.50 to $44.90<\/b> after D.A. Davidson raised its target price from $30 to $45.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n

Headline reads \u201cThe report of factory orders continues to tell a compelling story of which segments of the market to Accumulate and which areas to Avoid<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/06\/05\/stock-market-outlook-for-june-6-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

Technical Notes<\/strong><\/font><\/p>\n

Consumer Discretionary SPDRs<\/b> $XLY moved above $157.54 extending an intermediate uptrend. <\/p>\n

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Apple<\/b> $AAPL an S&P 100 stock moved above $181.13 to an all-time high extending an intermediate uptrend following its key note presentation at the World Wide Developers presentation. The stock has a history of reaching a short term peak and trading lower (sell on news) following this event.<\/p>\n

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Tesla<\/b> $TSLA a NASDAQ 100 stock moved above $217.65 extending an intermediate uptrend. <\/p>\n

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Constellation Software<\/b> $CSU.TO a TSX 60 stock moved above $2,702.56 to an all-time high extending an intermediate uptrend. <\/p>\n

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Open Text <\/b>$OTEX a TSX 60 stock moved above US$42.10 extending an intermediate uptrend. <\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for June 5th<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for June 5th<\/sup> 2023<\/p>\n

\"clip_image009\"<\/a><\/b><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

 <\/p>\n

Sectors<\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for June 5th<\/sup> 2023 <\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

Source for positive seasonal ratings: <\/em>www.equityclock.com<\/em><\/a><\/p>\n

<\/em><\/p>\n

Links from Valued Providers<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Hap Sneddon<\/font><\/em><\/strong> on BNN Bloomberg yesterday: Top Picks<\/p>\n

Hap Sneddon’s Top Picks – Hap Sneddon’s Top Picks (bnnbloomberg.ca)<\/a><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image012\"<\/a><\/p>\n

The intermediate term Barometer dropped 3.20 to 49.20. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.40 to 52.60. It remains Neutral.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image014\"<\/a><\/p>\n

The intermediate term Barometer dropped 1.72 to 40.52. It remains Neutral.<\/p>\n

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The long term Barometer added 0.43 to 53.46. It remains Neutral.<\/p>\n

<\/b><\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Tuesday June 6th U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points at 8:30 AM EDT. Raytheon Technologies added $0.25 to $96.00 after winning a $2.02 billion contract from the U.S. Navy. Spotify gained $5.13 to $156.87 after announcing plans to cut costs by lowering employee […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-166818","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/166818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=166818"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/166818\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=166818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=166818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=166818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}