{"id":166875,"date":"2023-06-08T02:22:00","date_gmt":"2023-06-08T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=166875"},"modified":"2023-06-08T08:56:32","modified_gmt":"2023-06-08T12:56:32","slug":"tech-talk-for-thursday-june-8th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/06\/08\/tech-talk-for-thursday-june-8th-2023\/","title":{"rendered":"Tech Talk for Thursday June 8th 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday June 8th<\/sup><\/strong><\/font><\/em><\/p>\n

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

GameStop dropped $5.41 to $20.70<\/b> after the company\u2019s CEO was fired.<\/em><\/p>\n

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Cardinal Health added $0.18to $83.45<\/b> after the company raised its share buyback program by $3.5 billion.<\/em><\/p>\n

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Semtech advanced $5.23 to $27.66<\/b> after reporting a surprise first quarter profit. <\/em><\/p>\n

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Carvana jumped $4.03 to $19.58<\/b> after offering positive fiscal second quarter guidance. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cWhile the US Dollar remains on the rise following its double-bottom low charted in the past month, the surprise rate increase from the Bank of Canada is similarly keeping the Canadian Dollar supported, threatening a shift of the long-term trend ahead\u201d.<\/strong><\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/06\/07\/stock-market-outlook-for-june-8-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Vietnam ETF $VNM moved above $13.17 extending an intermediate uptrend. <\/p>\n

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Bank SPDRs $KBE moved above intermediate resistance at $38.12.<\/p>\n

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Home Depot $HD a Dow Jones Industrial Average stock moved above intermediate resistance at $301.03<\/p>\n

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Kraft Heinz $KHC an S&P 100 stock moved below $36.84 extending an intermediate downtrend <\/p>\n

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IDEXX Laboratories $IDXX a NASDAQ 100 stock moved below $447.51 completing a double top pattern. <\/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 7th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for June 7th<\/sup> 2023<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for June 7th<\/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

 <\/p>\n

Link offered by a valued provider<\/strong><\/font><\/p>\n

Industrials and Banks Rally | Greg Schnell<\/font><\/em><\/strong>, CMT | Market Buzz (06.07.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=S0dYyMDe5D0<\/a><\/p>\n

 <\/p>\n

Stocks Overextended Versus Moving Averages | David Keller<\/font><\/em><\/strong>, CMT | The Final Bar (06.07.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=9LDOoa7XSkE<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 6.80 to 59.20. It remains Neutral. Daily trend is up.<\/p>\n

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The long term Barometer added 3.20 to 57.40. It remains Neutral. Daily trend is up.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 3.45 to 42.24.It remains Neutral.<\/p>\n

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The long term Barometer was unchanged at 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 Thursday June 8th U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EDT. GameStop dropped $5.41 to $20.70 after the company\u2019s CEO was fired. Cardinal Health added $0.18to $83.45 after the company raised its share buyback program by $3.5 billion. Semtech advanced $5.23 to $27.66 […]<\/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-166875","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/166875","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=166875"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/166875\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=166875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=166875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=166875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}