{"id":177216,"date":"2024-06-12T02:22:00","date_gmt":"2024-06-12T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=177216"},"modified":"2024-06-18T01:16:00","modified_gmt":"2024-06-18T05:16:00","slug":"tech-talk-for-wednesday-june-12th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/06\/12\/tech-talk-for-wednesday-june-12th-2024\/","title":{"rendered":"Tech Talk for Wednesday June 12th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday June 12th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures are waiting for release of the<\/b> May U.S. Consumer Price Report<\/b> at 8:30 AM EDT<\/b>. Consensus is an increase of 0.2% versus a gain of 0.3% in April. On a year-over-year basis, May CPI is expected to increase 3.4% versus a gain of 3.4% in April. Excluding food and energy, May CPI is expected to increase 0.3% versus a gain of 0.3% in April. On a year-over-year basis, core May CPI is expected to increase 3.5% versus a gain of 3.6% in April. <\/em><\/p>\n

An Economic Statement<\/b> is released by the FOMC at 2:00 PM EDT<\/b>. Press conference is offered at 2:30 PM EDT. Consensus calls for no change in the Fed Fund Rate at 5.25%-5.50%.<\/em><\/p>\n

Oracle <\/b>gained $5.00 to $129.00 despite reporting less than consensus fiscal fourth quarter results. The company also announced a partnership with Alphabet and offered positive guidance for fiscal 2025.<\/em><\/p>\n

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

Spot U.S. Natural Gas ETN<\/b> advanced $1.35 to $21.53 to a five month closing high at $21.53 on forecasts for extreme heat entering the U.S. mid-west this weekend.<\/em><\/p>\n

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

Rubrik<\/b> advanced $3.12 to $38.44 after reporting higher than consensus first quarter results. <\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for June 12th<\/sup><\/strong><\/font><\/em><\/p>\n

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

The US Dollar Index warrants scrutiny through the days ahead as a positive tilt continues to evolve, providing a headwind to broader equity prices.<\/em><\/b><\/p>\n

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

See: <\/em>The US Dollar Index warrants scrutiny through the days ahead as a positive tilt continues to evolve, providing a headwind to broader equity prices. (equityclock.com)<\/em><\/a><\/p>\n

 <\/p>\n

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

Apple<\/b> $AAPL a Dow Jones Industrial Average stock moved above $199.10 to an all-time high extending an intermediate uptrend. <\/p>\n

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

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Global Metals iShares<\/b> $PICK plunged below intermediate support at $41.28. Responded to lower copper prices<\/p>\n

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Pepsico<\/b> $PEP a NASDAQ 100 stock moved below $164.73 setting 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 11th<\/sup> 2024<\/p>\n

\"clip_image006\"<\/a>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 11th<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for June 10th<\/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

NVDA Stock Split Launches S&P 500 Higher: Dave Keller<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=vcjw13sHxdw<\/a><\/p>\n

 <\/p>\n

Market Volatility & Fed Predictions: The Most Important Week of the Year for Stocks<\/b><\/p>\n

Guy Adami and Liz Young Thomas<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=OZq2vl1l8iM<\/a><\/p>\n

 <\/p>\n

Live Trade Ideas: $AAPL, $JPM, $C, $GLD & $BTC: Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

Live Trade Ideas: $AAPL, $JPM, $C, $GLD & $BTC \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

\"clip_image011\"<\/a><\/p>\n

The intermediate term Barometer dropped 4.40 to 45.40. It remains Neutral.<\/p>\n

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The long term Barometer dropped 1.00 to 68.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image013\"<\/a><\/p>\n

The intermediate term Barometer dropped 6.31 to 45.95. It remains Neutral<\/p>\n

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The long term Barometer dropped 4.95 to 63.51. 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 12th U.S. equity index futures are waiting for release of the May U.S. Consumer Price Report at 8:30 AM EDT. Consensus is an increase of 0.2% versus a gain of 0.3% in April. On a year-over-year basis, May CPI is expected to increase 3.4% versus a gain of 3.4% in […]<\/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-177216","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177216","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=177216"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177216\/revisions"}],"predecessor-version":[{"id":177224,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177216\/revisions\/177224"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=177216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=177216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=177216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}