{"id":177424,"date":"2024-06-20T02:22:00","date_gmt":"2024-06-20T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=177424"},"modified":"2024-06-20T08:50:17","modified_gmt":"2024-06-20T12:50:17","slug":"tech-talk-for-thursday-june-20th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/06\/20\/tech-talk-for-thursday-june-20th-2024\/","title":{"rendered":"Tech Talk for Thursday June 20th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday June 20th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 17 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures slipped 2 points following release of economic news at 8:30 AM EDT.<\/b> Consensus for May U.S. Housing starts was an increase to 1.380 million units from 1.360 million units in April. Actual was a drop to 1.277 million units. Consensus for the June Philly Fed Index was an increase in May to 4.9 from 4.5 in April. Actual was a drop to 1.3.<\/em><\/p>\n

KB Homes<\/b> added $1.55 to $69.60 after reporting higher than consensus fiscal second quarter results. The company also raised guidance. <\/em><\/p>\n

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Empire Companies<\/b> is expected to open higher after reporting higher than consensus quarterly results. The company also raised its dividend. <\/em><\/p>\n

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Winnebago<\/b> dropped $3.20 to $53.50 after reporting less than consensus fiscal third quarter earnings.<\/em><\/p>\n

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Darden Restaurants<\/b> gained $3.51 to $155.47 after reporting higher than consensus quarterly results. The company also raised its dividend. <\/em><\/p>\n

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 <\/p>\n

Equity Clock – Market Outlook for June 20, 2024<\/font><\/em><\/b><\/p>\n

Retailer inventories are showing the second strongest increase through the first four months of the year in the past two decades, highlighting the disconnect between supply and demand that is contributing to disinflationary <\/b>pressures for discretionary goods.<\/b><\/em><\/p>\n

See: <\/em>https:\/\/equityclock.com\/2024\/06\/18\/stock-market-outlook-for-june-20-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

BMO Emerging Markets ETF<\/b> $ZEM.TO moved above Cdn$21.40 extending an intermediate uptrend. <\/p>\n

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\u2018Tis the season for ZEM.TO to move higher to the end of July!<\/b><\/p>\n

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Fortis <\/b>$FTS.T0 a TSX 60 stock moved below Cdn$52.62 setting an intermediate downtrend.<\/p>\n

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Emera<\/b> $EMA.TO a TSX 60 stock moved below Cdn$44.86 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 19th<\/sup> 2024<\/p>\n

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

Red: Decrease from previous day<\/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 19th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/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 19th<\/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

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

Recent Shopify pullback makes attractive entry point: Mahaney: BNN<\/b><\/p>\n

Recent Shopify pullback makes attractive entry point: Mahaney \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Markets are due for a 5% downturn in 2024: Strategist: Sam Stovall<\/b><\/p>\n

Markets are due for a 5% downturn in 2024: Strategist \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

NVDA Wreaks Havoc on Technology Benchmark: David Keller<\/b><\/p>\n

NVDA Wreaks Havoc on Technology Benchmark \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Warning! Market Correction Possible Amid Record Highs: John Kosar<\/b><\/p>\n

Editor\u2019s comment: Note seasonality chart for S&P 500 in the month of June<\/b><\/p>\n

Warning! Market Correction Possible Amid Record Highs \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

A little worried about markets on a short-term sentiment basis, says BMO Capital’s Brian Belski<\/b><\/p>\n

A little worried about markets on a short-term sentiment basis, says BMO Capital’s Brian Belski \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The Bifurcated Market; Chart Check on Bitcoin & Copper: Carter Worth and Guy Adami<\/b><\/p>\n

Editor\u2019s Comment: Note comment on copper and copper stocks.<\/b><\/p>\n

The Bifurcated Market; Chart Check on Bitcoin & Copper \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 3.40 to 49.60 on Tuesday. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.20 to 68.40 on Tuesday. It remains Overbought.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer plunged another 4.95 to 29.28. It remains Oversold. Daily trend continues down.<\/p>\n

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The long term Barometer dropped 2.25 to 58.56. It changed from Overbought to Neutral on a drop below 60.00. Daily trend continues down. <\/p>\n

 <\/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 20th U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 8:35 AM EDT. S&P 500 futures slipped 2 points following release of economic news at 8:30 AM EDT. Consensus for May U.S. Housing starts was an increase to 1.380 million units from 1.360 […]<\/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-177424","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177424","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=177424"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177424\/revisions"}],"predecessor-version":[{"id":177434,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177424\/revisions\/177434"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=177424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=177424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=177424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}