{"id":167130,"date":"2023-06-16T02:22:00","date_gmt":"2023-06-16T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=167130"},"modified":"2023-06-16T08:50:26","modified_gmt":"2023-06-16T12:50:26","slug":"tech-talk-for-friday-june-16th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/06\/16\/tech-talk-for-friday-june-16th-2023\/","title":{"rendered":"Tech Talk for Friday June 16th 2023"},"content":{"rendered":"

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

Editor\u2019s Note<\/font>:  With U.S. equity markets closed on Monday for Juneteenth; Tech Talk next will appear on Tuesday June 20th<\/sup>.<\/strong><\/em>   See you then!<\/strong><\/em><\/font><\/p>\n

<\/strong><\/em> <\/p>\n

Pre-opening Comments <\/strong><\/em><\/font><\/font><\/p>\n

             for Friday June 16th<\/sup><\/strong><\/em> <\/font><\/font><\/p>\n

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

U.S. equity index futures were higher this morning<\/b>. S&P b500 futures were up 10 points at 8:30 AM EDT.<\/em><\/p>\n

Adobe advanced $20.78 to $511.69<\/b> after reporting higher than consensus fiscal second quarter results.<\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Humana dropped $4.85 to $49.00<\/b> after the company warned that insurance costs are at the high end of expectations.<\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

Virgin Galactic advanced $1.61 to $5.67<\/b> after announcing plans to launch its first flight this month.<\/em><\/p>\n

\"clip_image003[1]\"<\/a><\/p>\n

iRobot jumped $9.21 to $51.29<\/b> following approval $9.21 to $51.29 following United Kingdom approval of its takeover by Amazon<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cThis market continues to defy all expectations in the midst of ongoing fundamental concerns<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/06\/15\/stock-market-outlook-for-june-16-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

The Canadian Dollar moved above US75.61 cents resuming an intermediate uptrend. <\/p>\n

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Strength in the Canadian Dollar was prompted by a plunge in the U.S. Dollar Index and its related ETN<\/p>\n

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Dow Jones Industrial Average SPDRs moved above 344.72 extending an intermediate uptrend.<\/p>\n

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S&P Industrial SPDRs $XLI moved above $105.60 to an all-time high extending an intermediate uptrend.<\/p>\n

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Dow Jones U.S. Railroads $DJUSRR moved above 2,994.25 extending an intermediate uptrend.<\/p>\n

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FedEx $FDX an S&P 100 stock moved above $234.49 extending an intermediate uptrend.<\/p>\n

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Microsoft $MSFT moved above $344.80 to an all-time high extending an intermediate uptrend. A major part of the gain by the Dow Jones Industrial Average, S&P 500 Index and NASDAQ Composite Index came from strength in Microsoft. All have heavy weights in this stock.<\/p>\n

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Wal-Mart $WMT a Dow Jones Industrial Average stock moved above $157.65 to an all-time high extending an intermediate uptrend.<\/p>\n

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Honeywell $HON a Dow Jones Industrial Average stock moved above $201.10 extending an intermediate uptrend. <\/p>\n

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Eli Lilly $LLY an S&P 100 stock moved above $454.95 to an all-time high extending an intermediate uptrend. <\/p>\n

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Splunk $SPLK a NASDAQ 100 stock moved above $109.95 completing a reverse Head & Shoulders pattern. <\/p>\n

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Lennar $LEN moved above $114.58 to an all-time high extending an intermediate uptrend. Responded to higher than consensus fiscal second quarter revenues and earnings! <\/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 15th<\/sup> 2023<\/p>\n

\"clip_image014\"<\/a> 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 15th<\/sup> 2023<\/p>\n

\"clip_image016\"<\/a><\/b><\/p>\n

<\/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 15th<\/sup> 2023 <\/p>\n

\"clip_image018\"<\/a><\/p>\n

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

Red: Decrease from previous day<\/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

Consumer Discretionary is Taking Off | 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

Fed Sends Stocks…..Higher? | Tom Bowley<\/font><\/em><\/strong> | Trading Places (06.15.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=quw2t1np1zg<\/a><\/p>\n

 <\/p>\n

Tech Screaming Higher | Jane Gallina<\/font><\/em><\/strong> | Your Daily Five (06.15.23)<\/p>\n

Tech Screaming Higher | Jane Gallina | Your Daily Five (06.15.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

\"clip_image019\"<\/a><\/p>\n

The intermediate term Barometer advanced 5.40 to 67.80. It remains Overbought. Daily trend remains up.<\/p>\n

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

The long term Barometer also advanced 5.40 to 65.40. It remains Overbought. Daily trend remains up.<\/p>\n

 <\/p>\n

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

\"clip_image021\"<\/a><\/p>\n

The intermediate term Barometer added 0.43 to 41.38. It remains Neutral.<\/p>\n

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

The long term Barometer slipped 0.86 to 51.29. 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":"

Editor\u2019s Note:  With U.S. equity markets closed on Monday for Juneteenth; Tech Talk next will appear on Tuesday June 20th.   See you then!   Pre-opening Comments              for Friday June 16th   U.S. equity index futures were higher this morning. S&P b500 futures were up 10 points at 8:30 AM EDT. Adobe advanced $20.78 to […]<\/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-167130","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167130","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=167130"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167130\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=167130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=167130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=167130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}