{"id":177183,"date":"2024-06-11T02:22:00","date_gmt":"2024-06-11T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=177183"},"modified":"2024-06-11T08:54:46","modified_gmt":"2024-06-11T12:54:46","slug":"tech-talk-for-tuesday-june-11th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/06\/11\/tech-talk-for-tuesday-june-11th-2024\/","title":{"rendered":"Tech Talk for Tuesday June 11th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday June 11th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 15 points at 8:30 AM EDT.<\/em><\/p>\n

General Motors<\/b> added $0.54 to $48.01 after announcing a $6 billion share buyback program.<\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Eli Lilly<\/b> advanced $13.44 to $878.45 after its Alzheimer drug received backing from FDA advisors. <\/em><\/p>\n

\"clip_image002[5]\"<\/a><\/p>\n

Target Hospitality<\/b> dropped $2.97 to $7.53 after the U.S. government announced its intention to terminate its partnership agreement. <\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

Clevland Cliffs<\/b> dropped $0.44 to $15.21 following an analyst downgrade.<\/em><\/p>\n

\"clip_image004[5]\"<\/a><\/p>\n

 <\/p>\n

Equity Clock – Market Outlook for June 11, 2024<\/strong><\/font><\/em><\/p>\n

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

While REITs are the only core-defensive sector that have struggled to attract buying demand in this risk-off market, Residential REITs are providing a setup to be attracted to.<\/em><\/b><\/p>\n

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

See: <\/em>https:\/\/equityclock.com\/2024\/06\/10\/stock-market-outlook-for-june-11-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Steel ETF<\/b> $SLX moved below $67.51 completing a double top pattern. <\/p>\n

\"clip_image001\"<\/a><\/p>\n

US Bancorp<\/b> $USB an S&P 100 stock moved below $38.43 completing a Head & Shoulders pattern. <\/p>\n

\"clip_image002\"<\/a><\/p>\n

Cisco <\/b>$CSCO an S&P 100 stock moved below $45.48 extending an intermediate downtrend. <\/p>\n

\"clip_image003\"<\/a><\/p>\n

Vale <\/b>$VALE one of the world\u2019s largest base metals producers dropped below $11.26 extending an intermediate downtrend. <\/p>\n

\"clip_image004\"<\/a><\/p>\n

General Motors<\/b> $GM an S&P 100 stock moved above $46.04 extending an intermediate uptrend. <\/p>\n

\"clip_image005\"<\/a><\/p>\n

Broadcom<\/b> $AVGO an S&P 100 stock moved above $1,445.40 to an all-time high extending an intermediate uptrend. <\/p>\n

\"clip_image006\"<\/a><\/p>\n

 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

 <\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for June 10th<\/sup> 2024<\/p>\n

\"clip_image008\"<\/a><\/p>\n

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

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for June 7th<\/sup> 2024<\/p>\n

\"clip_image010\"<\/a><\/b><\/p>\n

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 10th<\/sup> 2024<\/p>\n

\"clip_image012\"<\/a><\/p>\n

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

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

 <\/p>\n

Canadian Association for Technical Analysis Presentation<\/strong><\/font><\/p>\n

Next presentation on Zoom is offered tonight at 8:00 PM EDT. Speaker is Mark Leibovit. Everyone is welcome. Not a member of CATA? Connect at https:\/\/canadianata.ca\/content.aspx?page_id=4&club_id=71614<\/a><\/p>\n

 <\/p>\n

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

Feds to table capital gains bill today: BNNBloomberg<\/b><\/p>\n

Feds to table capital gains bill today \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Larry Berman\u2019s Educational Section for June 10th<\/sup> : FOMC meeting outlook<\/b><\/p>\n

https:\/\/www.bnnbloomberg.ca\/trudeau-to-call-vote-on-contentious-tax-change-this-week-1.2082929<\/a><\/p>\n

 <\/p>\n

Chart of the Day<\/strong><\/font>:<\/p>\n

Europe iShares (Symbol: IEV)<\/p>\n

Technical Score for Europe iShares dropped from +4 to -2<\/p>\n

\"clip_image014\"<\/a><\/p>\n

\"clip_image015\"<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 0.60 to 49.80. It remains Neutral.<\/p>\n

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

The long term Barometer added 0.29 to 69.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 7.66 to 52.25. It remains Neutral.<\/p>\n

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

The long term Barometer added 2.70 to 68.47. 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 Tuesday June 11th U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points at 8:30 AM EDT. General Motors added $0.54 to $48.01 after announcing a $6 billion share buyback program. Eli Lilly advanced $13.44 to $878.45 after its Alzheimer drug received backing from FDA advisors. Target […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-177183","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177183","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=177183"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177183\/revisions"}],"predecessor-version":[{"id":177193,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177183\/revisions\/177193"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=177183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=177183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=177183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}