{"id":167082,"date":"2023-06-15T02:22:00","date_gmt":"2023-06-15T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=167082"},"modified":"2023-06-15T08:44:20","modified_gmt":"2023-06-15T12:44:20","slug":"tech-talk-for-thursday-june-15th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/06\/15\/tech-talk-for-thursday-june-15th-2023\/","title":{"rendered":"Tech Talk for Thursday June 15th 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday June 15th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 17 points at 8:35 AM EDT.<\/em><\/p>\n

Equity index futures were unchanged following release of economic news at 8:30 AM EDT<\/b>. Consensus for May Retail Sales was a drop of 0.1% versus a gain of 0.4% in April. Actual was an increase of 0.3%. Excluding auto sales, consensus for May Retail Sales was an increase of 0.1% versus a gain of 0.4% in April. Actual was an increase of 0.1% Consensus for the June Empire State Manufacturing Survey was -16.00 versus -31.80 in May. Actual was +6.6. Consensus for June Philly Fed Index was -13.5 versus -10.4 in May. Actual was -13.7<\/em><\/p>\n

Lennar advanced $2.55 to $117.30<\/b> after reporting higher than consensus fiscal second quarter revenues and earnings. The company also offered positive guidance. <\/em><\/p>\n

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Domino\u2019s Pizza gained $6.73 to $312.45<\/b> after Stifel Nicolaus upgraded the stock from Hold to Buy. <\/em><\/p>\n

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Kohl\u2019s added $0.30 to $23.39<\/b> after TD Cowen upgraded the stock from Market Perform to Outperform.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cThe key to the breadth expansion in the market could rely on the banks, which are struggling around previous significant support, now resistance<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/06\/14\/stock-market-outlook-for-june-15-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

Responses to FOMC News at 2:00 PM EDT Yesterday<\/strong><\/font><\/p>\n

As expected, the Federal Reserve chose to maintain the Fed Fund Rate at 5.00%-5.25%. Based on the current \u201cdot plots\u201d offered by FOMC members, the Fed Fund Rate is projected to increase by another 0.50% in future meetings. Following were reactions by key markets:<\/p>\n

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The US Dollar Index ETN initially moved sharply higher after 2:00 PM, but closed virtually unchanged.<\/p>\n

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The Canadian Dollar initially moved sharply lower, but recovered and closed slightly lower.<\/p>\n

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S&P 500 Index initially moved lower, but closed virtually unchanged.<\/p>\n

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Long term Bond prices were mixed<\/p>\n

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Large cap U.S. bank ETF initially moved lower and remained lower.<\/p>\n

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Gold ETN initially moved lower and closed near its low.<\/p>\n

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Gold equity ETF initially moved lower, but closed virtually unchanged.<\/p>\n

 <\/p>\n

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

Note that no additional technical changes indicated below occurred after 2:00 PM EDT<\/p>\n

Brazil iShares EWZ moved above $31.41 extending an intermediate uptrend.<\/p>\n

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UnitedHealth Group $UNH a Dow Jones Industrial Average stock moved below $472.54 and $457.59 after issuing lower second quarter guidance. <\/p>\n

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CSX $CSX a NASDAQ 100 stock moved above $33.09 extending an intermediate Up<\/p>\n

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ANSYS $ANSS a NASDAQ 100 stock moved above $333.89 extending an intermediate uptrend. <\/p>\n

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Shopify $SHOP.TO a TSX 60 stock moved Cdn$87.53 extending an intermediate uptrend. <\/p>\n

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Dollarama $DOL.TO a TSX 60 stock moved above $85.75 to an all-time high 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 14th<\/sup> 2023<\/p>\n

\"clip_image015\"<\/a> 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 14th<\/sup> 2023<\/p>\n

\"clip_image017\"<\/a><\/b><\/p>\n

Green: Increase from previous day<\/b><\/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 14th<\/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

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

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

Bullish Upside Breakouts | Leslie Jouflas<\/font><\/em><\/strong>, CMT | Your Daily Five (06.14.23) <\/p>\n

https:\/\/www.youtube.com\/watch?v=OUWAUrc61OM<\/a><\/p>\n

 <\/p>\n

Time For A Holiday? | Greg Schnell<\/font><\/em><\/strong>, CMT | Market Buzz (06.14.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=yxoayu8U5tc<\/a><\/p>\n

 <\/p>\n

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

\"clip_image020\"<\/a><\/p>\n

The intermediate term Barometer slipped 1.80 to 62.40. It remains Overbought.<\/p>\n

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The long term Barometer eased 1.00 to 60.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image022\"<\/a><\/p>\n

The intermediate term Barometer added 0.86 to 40.95. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.43 to 52.15. 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 Thursday June 15th U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points at 8:35 AM EDT. Equity index futures were unchanged following release of economic news at 8:30 AM EDT. Consensus for May Retail Sales was a drop of 0.1% versus a gain of 0.4% in […]<\/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-167082","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167082","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=167082"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167082\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=167082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=167082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=167082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}