{"id":177267,"date":"2024-06-13T02:22:00","date_gmt":"2024-06-13T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=177267"},"modified":"2024-06-13T08:51:33","modified_gmt":"2024-06-13T12:51:33","slug":"tech-talk-for-thursday-june-13th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/06\/13\/tech-talk-for-thursday-june-13th-2024\/","title":{"rendered":"Tech Talk for Thursday June 13th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday June 13th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 24 points at 8:35 AM EDT<\/em><\/p>\n

S&P 500 futures added 10 points following release of the May Producer Price Index<\/b> at 8:30 AM EDT<\/b> Consensus was an increase of 0.2% versus a gain of 0.5% in April. Actual was down 0.2%. On a year-over-year basis, consensus was an increase of 2.2% versus a gain of 2.3% in April. Actual was 2.2%. Excluding food and energy, May PPI was expected to increase 0.3% versus a gain of 0.5% in April. Actual was unchanged. On a year-over-year basis core May PPI was expected to increase 2.3% versus a gain of 2.4% in April. Actual was an increase of 2.3%.<\/em><\/p>\n

Broadcom<\/b> advanced $184.49 to $1,680.00 after reporting higher than consensus second quarter revenues and earnings. The company also announced a ten for one stock split. <\/em><\/p>\n

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Dave and Busters<\/b> dropped $4.50 to $45.85 after reporting less than consensus first quarter results.<\/em><\/p>\n

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GE Aerospace<\/b> added $0.11 to $161.16 after receiving a $1.1 billion U.S. Army contract for turbine engines.<\/em><\/p>\n

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Korn Ferry<\/b> gained $2.49 to $65.90 after reporting higher than consensus quarterly profits.<\/em><\/p>\n

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 <\/p>\n

Equity Clock – Market Outlook for June 13, 2024<\/strong><\/font><\/em><\/p>\n

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

The need to tailor portfolios towards those groups that have pricing power and are not feeling the push-back from a more discerning consumer is more important now than it has been in a long time.<\/em><\/b><\/p>\n

See: <\/em>https:\/\/equityclock.com\/2024\/06\/12\/stock-market-outlook-for-june-13-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

Responses to the FOMC Interest Rate Decision<\/strong><\/font><\/p>\n

The FOMC at 2:00 PM EDT maintained its Fed Fund Rate at 5.25%-5.50%. Responses by key markets were as follows:<\/p>\n

S&P 500 Index moved slightly lower<\/p>\n

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U.S. Dollar Index ETN moved slightly higher<\/p>\n

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Yield on 10 year Treasury Notes increased slightly<\/p>\n

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Regional Bank SPDRs moved lower<\/p>\n

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Canadian Dollar moved lower<\/p>\n

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Gold ETN moved lower<\/p>\n

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

Consumer Discretionary SPDRs<\/b> $XLY moved above $180.28 setting an intermediate uptrend. <\/p>\n

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Microsoft<\/b> $MSFT a Dow Jones Industrial Average stock moved above $433.60 to an all-time high. <\/p>\n

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Alphabet<\/b> $GOOG a NASDAQ 100 stock moved above 179.75 to an all-time high extending an intermediate uptrend. <\/p>\n

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Lam Research<\/b> $LRCX a NASDAQ 100 stock moved above $1,005.23 to an all-time high extending an intermediate uptrend. <\/p>\n

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Oracle <\/b>$ORCL an S&P 100 stock moved above $132.35 to an all-time high extending an intermediate uptrend.<\/p>\n

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ASML<\/b> $ASML a NASDAQ 100 stock moved above $1,054.12 to an all-time high extending an intermediate uptrend. <\/p>\n

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National Bank<\/b> $NA.TO a TSX 60 stock moved below Cdn$112.86 and Cdn$109.67 setting an intermediate downtrend. It has offered to acquire Canadian Western Bank<\/b> in a deal valued at $5 billion.<\/p>\n

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 <\/p>\n

Link offered by a valued provider<\/strong><\/font><\/p>\n

5 Simple and Powerful Uses for Moving Averages: Joe Rabil<\/b><\/p>\n

5 Simple and Powerful Uses for Moving Averages \u2013 YouTube<\/a><\/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 12th<\/sup> 2024<\/p>\n

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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 12th<\/sup> 2024<\/p>\n

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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 12th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

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

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

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The intermediate term Barometer added 3.20 to 48.60. It remains Neutral.<\/p>\n

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The long term Barometer added 1.00 to 69.00. It remains Overbought.<\/p>\n

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

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The intermediate term Barometer added 3.15 to 49.10. It remains Neutral.<\/p>\n

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The long term Barometer added 3.15 to 66.67. 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 Thursday June 13th U.S. equity index futures were higher this morning. S&P 500 futures were up 24 points at 8:35 AM EDT S&P 500 futures added 10 points following release of the May Producer Price Index at 8:30 AM EDT Consensus was an increase of 0.2% versus a gain of 0.5% 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-177267","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177267","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=177267"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177267\/revisions"}],"predecessor-version":[{"id":177277,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177267\/revisions\/177277"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=177267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=177267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=177267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}