Tech Talk for Friday June 1st 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade.

Index futures were virtually unchanged following release of the U.S. May Employment Report at 8:30 AM EDT. Consensus for May Non-farm Payrolls was 185,000 versus upwardly revised 159,000 in April. Actual was 223,000. Consensus for May Unemployment Rate was unchanged from April at 3.9%. Actual was 3.8%. Consensus for May Hourly Earnings was an increase of 0.3% versus a gain of 0.1% in April. Actual was.an increase of 0.3%.

Abercrombie & Fitch added $1.44 to $25.00 after reporting higher than consensus first quarter revenues.

Lululemon advanced $7.55 to $112.60 after Stifel Nicolaus, MKM Partners, Susquehanna and Wells Fargo raised their target price on the stock.

Advanced Micro Devices gained $1.00 to $187.87 after Stifel Nicolaus raised its target price on the stock to $17 from $14.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/05/31/stock-market-outlook-for-june-1-2018/

Note seasonality charts on Non-farm Payrolls, Initial Jobless Claims, Canada GDP, Crude Oil Days of Supply, Gasoline Days of Supply and Crude Oil.

Don Vialoux on Wolf on Bay Street

Listen to Radio 640 at 7:00 AM EDT tomorrow (Saturday). Topics include TSX Composite Index (seasonal, technical and fundamental outlook), gold and gold stocks.

Observations

The Canadian Dollar moved lower on announcement of U.S. tariffs on Canadian steel and aluminum.

Natural gas prices added $0.07 to $2.95 per MBtu on a lower than consensus weekly inventory report: Impact of a partial shut- down of Gulf of Mexico production due to the first tropical storm of the season. Forecasters are calling for a busier than average Hurricane season this summer. Inventory levels already are well below average for this time of year. Seasonal influences for natural gas prices are positive until at least mid-June.

Mexican equities and related ETF extend losses following news of U.S. tariffs.

StockTwits Released Yesterday @EquityClock

Canada GDP up a mere 0.1% (NSA) in the first quarter, half of percent below average.

Technical action by S&P 500 stocks to 12:30: Bearish. Intermediate breakouts: $GM $ADI. Breakdowns: $DISH $DG $DISCA $DLTR $NWL $WHR $XRAY

Linamar $LNR.CA moved below $64.86 extending an intermediate downtrend. Trade/ NAFTA victim?

Trader's Corner

Daily Seasonal/Technical Equity Trends for May 31st 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for May 31st 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for May 31st 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer fell 8.80 to 54.00 yesterday. Once again, it dropped to intermediate neutral from overbought. Short term evidence of an intermediate peak continues to build.

TSX Momentum Barometer

The Barometer dropped 2.49 to 69.71 yesterday. It remains intermediate overbought and continued to show 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

Sponsored By...