Tech Talk for Friday June 22nd 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.

The Canadian Dollar dropped U.S. 0.53 to 74.82 cents following release of economic news at 8:30 AM EDT. Consensus for the Canadian May Consumer Price Index on a year-over-year basis was an increase of 2.6%. Actual was 2.2%. Consensus for Canadian April Retail Sales was unchanged versus a drop of 0.2% in March. Actual was a drop of 1.2%.

Crude oil gained $1.06 to $66.06 per barrel after OPEC agreed to raise its quota on oil production by 1 million barrels per day.

Darden Restaurants added $1.18 to $108.24 after SunTrust raised its target on the stock to $117 from $110.

Ecolab fell $2.21 to $139.35 after JP Morgan downgraded the stock to Underweight from Neutral.

Blackberry gained $0.20 to $11.90 U.S. after reporting higher than consensus fiscal first quarter earnings. The Company also raised its guidance.

Medtronic added $0.75 to $87.05 after raising its dividend by 9%.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/06/21/stock-market-outlook-for-june-22-2018/

Note seasonality charts on the Philly Fed Index and Live Cattle Futures

StockTwits Released Yesterday @EquityClock

Auto ETF $CARZ moved below $38.60 extending an intermediate downtrend.

Berkshire Hathaway $BRK.B, a Dow Jones Industrial stock moved below $189.30 extending an intermediate downtrend.

Travelers $TRV, a Dow Jones Industrial stock moved below $124.40 extending an intermediate downtrend.

Technical action by S&P 500 stocks to 10:00: Bearish. Intermediate breakouts: $GPS $HCP. Breakdowns: $BRK.B $SYF $TRV $GE $LMT $HRS

Editor's Note: After 10:00 AM EDT, breakout: FE. Breakdowns: MMM, UPS, WRK, DLPH, MAR, ETN, DHR and XYL

Rogers Communications $RCI.B, a TSX 60 stock moved above $62.51 extending an intermediate uptrend.

Philadelphia Fed Index shows +19 (NSA) in June, still well above the average read for the month of +7.8. $MACRO #Economy #Manufacturing

Quarter-end rebalance continues, pushing the S&P 500 back to short-term trendline support. equityclock.com/2018/06/21/… $SPX $SPY $ES_F

Global equity benchmark breaking below multi-month range, threatening stocks close to home.

Trader's Corner

Daily Seasonal/Technical Equity Trends for June 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for June 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for June 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped another 5.60 to 60.20 yesterday. It remains intermediate overbought and trending down.

TSX Momentum Barometer

The Barometer dropped 2.07 to 66.81 yesterday. It remains intermediate overbought and trending down.

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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