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Pre-opening Comments for Friday June 30th<\/sup><\/strong><\/font><\/em><\/p>\n <\/em><\/sup><\/p>\n U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 28 points in pre-opening trade. <\/em><\/p>\n S&P 500 futures gained 7 points following release of economic news at 8:30 AM EDT:<\/em><\/b><\/p>\n May Core PCE Price Index<\/b> was expected to increase 0.3% versus a gain of 0.4% in April. Actual was an increase of 0.3%. On a year-over-year basis, the Index was expected to increase 4.7% versus a gain of 4.7% in April. Actual was an increase of 4.6%.<\/em><\/p>\n May Personal Income<\/b> released was expected to increase 0.3% versus a gain of 0.4% in April. Actual was an increase of 0.4%. May Personal Spending<\/b> was expected to increase 0.2% versus a gain of 0.8% in April. Actual was an increase of 0.1%.<\/em><\/p>\n <\/em><\/b><\/p>\n The Canadian Dollar was unchanged at U.S. 75.38 cents after release of Canada\u2019s April GDP<\/b> at 8:30 AM EDT<\/b> Consensus was a gain of 0.2% versus unchanged in March. Actual was unchanged. On a year-over-year basis, April GDP advanced 1.7% versus consensus gain of 1.9%.<\/em><\/p>\n Nike dropped<\/b> $4.83 to $108.54<\/b> after reporting less than consensus fiscal fourth quarter earnings. <\/em><\/p>\n Merus gained $0.53 to $26.81<\/b> after receiving a favourable statement from the FDA on its cancer drug aimed at treating pancreatic cancer. <\/em><\/p>\n Progress Software added $0.55 to $55.11<\/b> after reporting higher than consensus fiscal second quarter results. <\/em><\/p>\n <\/p>\n EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n Headline reads \u201cThe seasonal adjustment factor doesn\u2019t appear to know what to do with the new Juneteenth holiday<\/strong>\u201d.<\/em><\/p>\n http:\/\/www.equityclock.com\/2023\/06\/29\/stock-market-outlook-for-june-30-2023\/<\/em><\/a><\/p>\n <\/em><\/p>\n <\/font><\/sup><\/em><\/p>\n Technical Notes<\/strong><\/font><\/p>\n Airline ETF $JETS moved above 21.24 extending an intermediate uptrend. <\/p>\n Keurig Dr. Pepper $KDP a NASDAQ 100 stock moved above $32.28 extending an intermediate uptrend. <\/p>\n Simon Properties $SPG an S&P 100 stock moved above intermediate resistance at $113.06. <\/p>\n <\/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 29th<\/sup> 2023<\/p>\n 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 29th<\/sup> 2023<\/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 29th<\/sup> 2023 <\/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 5 Charts Point To Skyrocketing S&P 500! | Tom Bowley | Your Daily Five (06.29.23)<\/p>\n https:\/\/www.youtube.com\/watch?v=9OL-eMV9_bk<\/a><\/p>\n <\/p>\n Seasonality Chart of the Day<\/strong><\/font><\/p>\n TSX 60 Index and its related ETF, XIU.TO have a history of moving higher in the month of July. During the past 20 periods, units have advanced 17 periods. Average gain per period: 2.2%.<\/p>\n Technical score on XIU.TO improved from -4 to -2 yesterday when units moved above their 20 day moving average. Daily momentum indicators turned higher earlier this week.<\/p>\n <\/p>\n S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n The intermediate term Barometer advanced 6.60 to 69.40. It remains Overbought. Daily trend is up.<\/p>\n The long term Barometer added 4.60 to 64.00. It changed from Neutral to Overbought on a move above 60.00.<\/p>\n <\/p>\n TSX Momentum Barometers<\/strong><\/font><\/p>\n The intermediate term Barometer added 5.24 to 40.17. It changed from Oversold to Neutral. Daily trend is up.<\/p>\n![\"clip_image001[1]\"](\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/06\/clip_image0011-9.png\" "\\"clip_image001[1]\\"")
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