{"id":166840,"date":"2023-06-07T02:22:00","date_gmt":"2023-06-07T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=166840"},"modified":"2023-06-07T09:00:08","modified_gmt":"2023-06-07T13:00:08","slug":"tech-talk-for-wednesday-june-7th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/06\/07\/tech-talk-for-wednesday-june-7th-2023\/","title":{"rendered":"Tech Talk for Wednesday June 7th 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday June 7th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 3 points at 8:35 AM EDT. <\/em><\/p>\n

Index futures were virtually unchanged following release of the U.S. April Trade report at 8:30 AM EDT<\/b>. Consensus was a deficit of $75.6 billion. Actual was a deficit of $74.6 billion.<\/em><\/p>\n

The Canadian Dollar<\/b> added 0.04 to US74.65 cents following release of Canada\u2019s April Merchandise Trade Balance report. Consensus was a surplus of $0.20 billion versus a surplus of $0.97 billion in March. Actual was a surplus of $1.94 billion<\/em><\/p>\n

Casey\u2019s dropped $10.13 to $214.13<\/b> after reporting less than consensus fiscal fourth quarter revenues and earnings. <\/em><\/p>\n

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

Campbell Soup dropped $1.19 to $49.40<\/b> after offering earnings guidance below consensus.<\/em><\/p>\n

\"clip_image002[5]\"<\/a><\/p>\n

United Natural Foods plunged $7.02 to $20.55<\/b> after reporting less than consensus fiscal third quarter earnings. The company also lowered guidance for the fourth quarter. <\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

UnitedHealth Group added $1.43 to $489.00<\/b> after raising its dividend by 14%.<\/em><\/p>\n

\"clip_image004\"<\/a><\/p>\n

 <\/p>\n

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

Headline reads \u201cS&P 500 Index testing an important Fibonacci retracement level of last year\u2019s decline<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/06\/06\/stock-market-outlook-for-june-7-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Brazil iShares $EWZ moved above $30.60 extending an intermediate uptrend.<\/p>\n

\"clip_image001\"<\/a><\/p>\n

South Korea iShares $EWY moved above $65.62 extending an intermediate uptrend.<\/p>\n

\"clip_image002\"<\/a><\/p>\n

Atlassian $TEAM a NASDAQ 100 stock moved above $188.57 extending an intermediate uptrend. <\/p>\n

\"clip_image003\"<\/a><\/p>\n

 <\/p>\n

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

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

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

Daily Seasonal\/Technical Equity Trends for June 6th<\/sup> 2023<\/p>\n

\"clip_image005\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/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 6th<\/sup> 2023<\/p>\n

\"clip_image007\"<\/a><\/b><\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for June 6th<\/sup> 2023 <\/p>\n

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

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

 <\/p>\n

Links offered by valued providers<\/strong><\/font><\/p>\n

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

Larry Williams<\/font><\/em><\/strong> Special: Market Correction is Coming<\/p>\n

(Larry is calling for weakness in U.S. equity markets into June followed by resumption of an intermediate uptrend by mid-July).<\/p>\n

Larry Williams Special – Market Correction is Coming (06.06.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

2023 Potentially A Very Good Year For Stocks | John Kosar<\/font><\/em><\/strong>, CMT | Your Daily Five (06.06.23)<\/p>\n

2023 Potentially A Very Good Year For Stocks | John Kosar, CMT | Your Daily Five (06.06.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

\"clip_image010\"<\/a><\/p>\n

Intermediate term Barometer added 3.20 to 52.40. It remains Neutral.<\/p>\n

\"clip_image011\"<\/a><\/p>\n

The long term Barometer added 1.60 to 54.20. It remains Neutral.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 5.17 to 45.69. It remains Neutral.<\/p>\n

\"clip_image013\"<\/a><\/p>\n

The long term Barometer slipped 0.43 to 53.02. It remains Neutral.<\/p>\n

 <\/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 Wednesday June 7th U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points at 8:35 AM EDT. Index futures were virtually unchanged following release of the U.S. April Trade report at 8:30 AM EDT. Consensus was a deficit of $75.6 billion. Actual was a deficit of $74.6 […]<\/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-166840","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/166840","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=166840"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/166840\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=166840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=166840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=166840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}