Tech Talk for Friday June 15th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Traders are responding to President Trump's approval of $50 billion in tariffs on Chinese goods

Today is Quadruple Witching Day on U.S. markets, the last trade date for June index and equity futures and options.

Index futures were virtually unchanged following release of the June Empire State Manufacturing Survey at 8:30 AM EDT. Consensus was 19.6 versus 20.1 in May. Actual was 25.0,

Adobe dropped $7.72 to $250.38 after lowering guidance. JP Morgan and Stifel Nicolaus raised their target price on the stock.

Advanced Auto Parts added $0.82 to $133.50 after JP Morgan raised its target price to $158 from $140.

Electronic Arts (EA $144.25) is expected to open higher after Stifel Nicolaus raised its target price to $157 from $144.

Canada Goose soared $10.17 to $56.02 after reporting higher than consensus fiscal fourth quarter sales and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/06/14/stock-market-outlook-for-june-15-2018/

Note seasonality charts on U.S. Retail Trade, U.S. Business Sales, Business Inventories, Australia All Ordinaries Composite Index, Hong Kong Hang Seng Index and Bombay Sensex Index.

Observation

The Canadian Dollar briefly moved below 76.29 to a 12 month low extending an intermediate downtrend. A strong U.S. Dollar Index plus a growing realization that NAFTA will not happen anytime soon took its toll.

Technical action yesterday

Technical action by S&P 500 stocks yesterday: Bullish. Intermediate breakouts: CMCSA, NCLH, RCL, CAG, HOLX, FB, QRVO. Breakdowns: AMG, LRCX, OI

FaceBook FB, one of the FAANG stocks moved above $195.32 to an all-time high extending an intermediate uptrend.

TSX Gold Index and its related ETF XGD.TO advanced above a four month trading range moving above 193.52

The TSX Gold Index was helped by a breakout by Yamana Gold above $3.95

Metro $MRU.TO, a TSX 60 stock moved above $43.77 extending an intermediate uptrend

Grain ETN JJGTF moved below $25.10 extending an intermediate downtrend.

Altagas moved above $25.99 extending an intermediate uptrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for June 14th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for June 14th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for June 14th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 2.20 to 71.20 yesterday. It remains intermediate overbought

TSX Momentum Barometer

The Barometer added 1.25 to 68.33 yesterday. It remains intermediate overbought and showing signs of rolling over.

Disclaimer: Seasonality and technical ratings offered in this report and at

www.equityclock.com 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

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