{"id":196202,"date":"2026-06-28T15:51:41","date_gmt":"2026-06-28T19:51:41","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=196202"},"modified":"2026-06-28T15:51:41","modified_gmt":"2026-06-28T19:51:41","slug":"tech-talk-for-monday-june-29th-2026","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2026\/06\/28\/tech-talk-for-monday-june-29th-2026\/","title":{"rendered":"Tech Talk for Monday June 29th 2026"},"content":{"rendered":"

<\/a><\/p>\n

The Bottom Line<\/strong><\/font><\/p>\n

Here comes the \u201cSummer Rally\u201d for North American equity markets<\/b>! According to www.EquityClock.com<\/a> history shows that the \u201csummer rally\u201d for the TSX Composite Index and the S&P 500 Index, on average, starts on June 27th<\/sup> and last until at least July 17th<\/sup>. Frequently, the summer rally extends until mid-September.<\/p>\n

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

What about this year? <\/b>Chances are higher than average that a summer rally will happen this summer thanks to release of corporate reports that show strong second quarter earnings gains.<\/p>\n

\u00b7 Corporate earnings by S&P 500 companies <\/b>are accelerating. Consensus calls for a 23.1% year-over-year increase by S&P 500 companies in the second quarter followed by a 26.7% increase in the third quarter. <\/p>\n

\u00b7 Corporate earnings by TSX 60 companies<\/b> are accelerating in major sectors thanks to higher commodity prices<\/b> (energy, base metals, precious metals, forest products, fertilizers) and thanks to improving interest rate spreads<\/b> (banks, insurance companies).<\/p>\n

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Earnings and Revenue Consensus for S&P 500 Companies<\/strong><\/font><\/p>\n

Source: www.factset.com<\/a><\/p>\n

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

Analysts increased their 2026 earnings and revenue estimates again last week<\/b><\/p>\n

\u00b7 Consensus for second quarter 2026<\/b> earnings gains increased to 23.1% from 22.0% last week. Consensus for revenue gains increased to 12.3% from 12.1%.<\/p>\n

\u00b7 Consensus for third quarter 2026<\/b> earnings gains increased to 26.7% from 25.6%.last week. Consensus for revenue gains remained at 10.7%.<\/p>\n

\u00b7 Consensus for fourth quarter 2026<\/b> earnings gains increased to 24.2% from 23.1% last week. Consensus for revenue gains remained at 10.2%.<\/p>\n

\u00b7 For all of 2026<\/b>, consensus for earnings gains increased to 24.0% from 23.3% last week. Consensus for revenue gains increased to 11.2% from 10.2%.<\/p>\n

Improving consensus for 2027 earnings and revenue estimates also is encouraging. <\/b>Consensus for 2027 earnings gains increased to 16.8% from 16.3% last week. Consensus for revenue gains increased to 7.7% from 7.6%. <\/b><\/p>\n

Economic News This Week<\/strong><\/font><\/p>\n

Source: www.marketwatch.com<\/a><\/p>\n

June U.S. Consumer Confidence<\/b> released at 10:00 AM EDT on Tuesday is expected to improve to 94.6 from 93.1 in May.<\/p>\n

Canadian exchanges<\/b> are closed on Canada Day July 1st<\/sup><\/p>\n

Federal Reserve Chairman Kevin Warsh speaks<\/b> at 9:30 AM EDT on Wednesday.<\/p>\n

May U.S. Construction Spending<\/b> released at 10:00 AM EDT on Wednesday is expected to increase 0.2% versus a 0.4% increase in April<\/p>\n

June ISM Manufacturing Index<\/b> released at 10:00 AM EDT on Wednesday is expected to increase to 55.7 from 55.1 in May.<\/p>\n

June U.S. Non-farm Payrolls<\/b> released at 8:30 AM EDT on Thursday are expected to drop to 118,000 from 172,000 in May. June Unemployment Rate<\/b> is expected to be unchanged at 4.3% June Hourly Wages<\/b> are expected to increase 0.3% versus a 0.3% increase in May. On a year-over-year basis June Hourly Wages are expected to increase 3.5%, unchanged from May.<\/p>\n

May Factory Orders<\/b> released at 10:00 AM EDT on Thursday are expected to drop 1.1% versus a 4.8% increase in April.<\/p>\n

U.S. Exchanges are closed on Friday<\/b> for the Independence Day holiday<\/p>\n

Selected Earnings News This Week<\/strong><\/font><\/p>\n

Source: www.Investing.com<\/a><\/p>\n

Another quiet week! One Dow Jones Industrial Average stock: Nike on Tuesday.<\/p>\n

Tuesday:<\/b> Nike, Constellation Brands, Carnival<\/p>\n

Wednesday:<\/b> General Mills, Fact Set<\/p>\n

Thursday:<\/b> Levi Strauss<\/p>\n

Changes Last Week<\/strong><\/font><\/p>\n

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

U.S. Real Estate iShares<\/b> (IYR) moved above $104.23 to an all-time high extending an intermediate uptrend. <\/p>\n

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Healthcare SPDRs<\/b> (XLV) moved above $159.23 to an all-time high extending an intermediate uptrend.<\/p>\n

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Breakouts in the sector included: <\/p>\n

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

Johnson & Johnson<\/b> (JNJ) a Dow Jones Industrial Average stock moved above $250.27 to an all-time high extending an intermediate uptrend.<\/p>\n

Merck <\/b>(MRK) a Dow Jones Industrial Average stock moved above $126.02 to an all-time high extending an intermediate uptrend.<\/p>\n

Incyte<\/b> (INCY) a NASDAQ 100 stock moved above $112.29 to an 8 year high extending an intermediate uptrend. <\/p>\n

U.S. Medical Devices iShares<\/b> (IHI) moved above $51.04 completing a double bottom pattern.<\/p>\n

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NXP Semiconductor<\/b> (NXPI) a NASDAQ 100 stock moved below $278.42 completing a short term Head & Shoulders pattern. Also, QUALCOMM<\/b> (QCOM) a NASDAQ 100 stock moved below $190.32 and $190.10 completing a short term Head & Shoulders pattern.<\/p>\n

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

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

Daily Seasonal\/Technical Equity Trends for June 26th<\/sup> 2026<\/p>\n

\"clip_image014\"<\/a> <\/i><\/p>\n

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

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

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

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

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

Daily Seasonal\/Technical Commodities Trends for June 25th<\/sup> 2026<\/p>\n

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

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

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

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

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

Daily Seasonal\/Technical Sector Trends for June 26th<\/sup>, 2026<\/p>\n

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

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

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

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

Michael Campbell\u2019s Money Talks for June 27th<\/sup> <\/b><\/p>\n

https:\/\/mikesmoneytalks.ca\/category\/mikes-content\/complete-show\/<\/a><\/p>\n

Megacaps Are Bleeding: Signs of the Top? Guy Adami, Dan Nathan and Gene Munster<\/b><\/p>\n

Megacaps Are Bleeding: Signs of the Top? \u2013 YouTube<\/a><\/p>\n

OpenAI Backs Off, AI Stocks Drop, Bitcoin Panic, Gold Buy? Top Trades And Levels: Verified Investing<\/b><\/p>\n

OpenAI Backs Off, AI Stocks Drop, Bitcoin Panic, Gold Buy? Top Trades And Levels \u2013 YouTube<\/a><\/p>\n

Billionaire investor Jeremy Grantham: This is the most expensive market in American history<\/b><\/p>\n

Billionaire investor Jeremy Grantham: This is the most expensive market in American history \u2013 YouTube<\/a><\/p>\n

Why US Stocks Could Climb Higher: Goldman Sachs<\/b><\/p>\n

Why US Stocks Could Climb Higher \u2013 YouTube<\/a><\/p>\n

Expert market strategist just issued a MAJOR warning for Big Tech: Larry McDonald<\/b><\/p>\n

Expert market strategist just issued a MAJOR warning for Big Tech \u2013 YouTube<\/a><\/p>\n

Tech Falls, But Other Sectors\/Groups Pick Up the Slack; Biotech and Banks Lead<\/b><\/p>\n

Arthur Hill<\/b><\/p>\n

Tech Falls, But Other Sectors\/Groups Pick Up the Slack; Biotech and Banks Lead (stockcharts.com)<\/a><\/p>\n

Is This an AI Bubble? Tom Bowley<\/b><\/p>\n

Is This an AI Bubble? \u2013 YouTube<\/a><\/p>\n

Gold Falling Over Interest Hike Fears: Bob Hoye<\/b><\/p>\n

https:\/\/www.howestreet.com\/2026\/06\/gold-falling-over-interest-hike-fears-bob-hoye\/<\/a><\/p>\n

This Week in Money<\/b><\/p>\n

\u00b7 Ross Clark<\/a>:  Stock Markets, Gold, Silver, Oil, USD, Canadian Dollar, Bitcoin.<\/b><\/p>\n

\u00b7 Martin Straith<\/a>: (9:26) Bitcoin, Gold, Silver, USD, Canadian Dollar.<\/b><\/p>\n

\u00b7 Josef Schachter<\/a>:  (48:28) Energy, Oil, LNG.<\/b><\/p>\n

\u00b7 Hilliard MacBeth<\/a>:  (1:21:41) Canadian Real Estate, Condo Bailout.<\/b><\/p>\n

https:\/\/www.howestreet.com\/2026\/06\/gold-silver-bitcoin-oil-real-estate-martin-straith-josef-schachter-hilliard-macbeth-ross-clark-this-week-in-money\/<\/a><\/p>\n

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

Trading Desk Notes for June 27, 2026: Victor Adair<\/b><\/p>\n

https:\/\/www.howestreet.com\/2026\/06\/trading-desk-notes-for-june-27-2026\/<\/a><\/p>\n

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

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

The intermediate term Barometer added 0.40 on Friday and gained 8.60 last week to 64.60. It remained Overbought.<\/p>\n

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The short term (20 days) Barometer added 0.80 on Friday and gained 10.60 last week to 62.80. It changed from Neutral to Overbought on a move above 60.00.<\/p>\n

The long term Barometer added 0.80 on Friday and gained 4.20 last week to 62.60. It changed from Neutral to Overbought on a move above 60.00.<\/p>\n

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

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The intermediate term Barometer added 4.09 on Friday and added 0.45 to 48.18. It remained Neutral. <\/p>\n

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The short term (20 days) Barometer advanced 8.64 on Friday and slipped 0.91 last week to 48.64. It remained Neutral.<\/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":"

The Bottom Line Here comes the \u201cSummer Rally\u201d for North American equity markets! According to www.EquityClock.com history shows that the \u201csummer rally\u201d for the TSX Composite Index and the S&P 500 Index, on average, starts on June 27th and last until at least July 17th. Frequently, the summer rally extends until mid-September. What about this […]<\/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-196202","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/196202","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=196202"}],"version-history":[{"count":1,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/196202\/revisions"}],"predecessor-version":[{"id":196203,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/196202\/revisions\/196203"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=196202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=196202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=196202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}