{"id":177020,"date":"2024-06-05T02:22:00","date_gmt":"2024-06-05T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=177020"},"modified":"2024-06-05T09:04:28","modified_gmt":"2024-06-05T13:04:28","slug":"tech-talk-for-wednesday-june-5th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/06\/05\/tech-talk-for-wednesday-june-5th-2024\/","title":{"rendered":"Tech Talk for Wednesday June 5th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday June 5th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 14 points at 8:30 AM EDT<\/em><\/p>\n

Canadian investors are focusing on the Bank of Canada\u2019s economic statement at 9:45 AM EDT.<\/b> Consensus calls for no change in the Bank\u2019s lending rate for major Canadian banks.<\/em><\/p>\n

Hewlett Packard Enterprises<\/b> advanced $2.36 to $19.96 after reporting higher than consensus fiscal second quarter revenues and earnings. The company also offered third quarter guidance above consensus. <\/em><\/p>\n

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Crowd Strike<\/b> added $21.57 to $327.54 after reporting higher than consensus first quarter revenues and earnings. The company also offered second quarter guidance above consensus.<\/em><\/p>\n

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Campbell Soup<\/b> added $0.62 to $44.80 after reporting higher than consensus fiscal third quarter revenues and profits.<\/em><\/p>\n

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Dollar Tree<\/b> dropped $1.44 to $118.86 after revealing damage to its facility caused by a tornado.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for June 5th<\/sup> 2024<\/strong><\/font><\/em><\/p>\n

The divergence of the price of oil compared to the average trend of strength over the past couple of months highlighting the market\u2019s skepticism pertaining to the demand profile of the commodity (and the strength of the economy) moving forward.<\/em><\/b><\/p>\n

<\/em><\/b><\/p>\n

See: <\/em>https:\/\/equityclock.com\/2024\/06\/04\/stock-market-outlook-for-june-5-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

First Trust Natural Gas ETF<\/b> $FCG moved below $26.35 completing a double top pattern.<\/p>\n

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BMO Equal Weight Oil and Gas ETF<\/b> $ZEO.TO moved below $Cdn70.00 completing a double top pattern.<\/p>\n

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Chevron <\/b>$CVX a Dow Jones Industrial Average stock moved below $155.47 completing a double top pattern.<\/p>\n

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Baker Hughes<\/b> $BKR a NASDAQ 100 stock moved below $31.54 setting an intermediate downtrend. <\/p>\n

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20+ Treasury Bond iShares <\/b>$TLT moved above $92.11 setting an intermediate uptrend. <\/p>\n

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Open Text<\/b> $OTEX a TSX 60 stock moved below US$27.95 extending an intermediate downtrend<\/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 4th<\/sup> 2024<\/p>\n

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

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

Source for all positive seasonality ratings: www.EquityClock.com<\/a><\/p>\n

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for June 4th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for June 4th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

These surprising sectors are showing strength<\/b><\/p>\n

These SURPRISING Sectors Are Showing Strength \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

<\/b><\/p>\n

Is the AI Trade Coming Undone? Dan Nathan<\/b><\/p>\n

Is the AI Trade Coming Undone? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

<\/b><\/p>\n

Canada’s economy is stuck in neutral: RBC<\/b><\/p>\n

Canada’s economy is stuck in neutral: RBC \u2013 YouTube<\/a><\/p>\n

<\/b><\/p>\n

Live Charts & Trade Ideas: Yields, $TLT, $XLE, Oil, $SMH, $CRWD<\/b><\/p>\n

Guy Adami, Dan Nathan, Carter Worth<\/b><\/p>\n

Live Charts & Trade Ideas: Yields, $TLT, $XLE, Oil, $SMH, $CRWD \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

<\/b><\/p>\n

Expectations for rate cuts in Canada: BNN<\/b><\/p>\n

Expectations for rate cuts in Canada \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 2.00 to 47.20. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.80 to 71.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 4.93 to 46.19. It remains Neutral.<\/p>\n

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The long term Barometer was unchanged at 67.26. It remains Overbought. <\/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 Wednesday June 5th U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points at 8:30 AM EDT Canadian investors are focusing on the Bank of Canada\u2019s economic statement at 9:45 AM EDT. Consensus calls for no change in the Bank\u2019s lending rate for major Canadian banks. Hewlett […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-177020","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177020","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=177020"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177020\/revisions"}],"predecessor-version":[{"id":177030,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177020\/revisions\/177030"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=177020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=177020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=177020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}