Tech Talk for Friday June 8th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade.

The Canadian Dollar dropped 0.21 to U.S. 76.85 cents following release of the May Canadian Employment report. Consensus was an increase of 25,000 versus a drop of 1,000 in April. Actual was a drop of 7,500. Consensus for the May Unemployment Rate was 5.8%. Actual was 5.8%. Consensus for May Hourly Earnings was an annual increase of 3.2%. Actual was an increase of 3.9%.

Randgold (GOLD $78.96) is expected to open higher after JP Morgan raised its rating to Overweight from Neutral.

PayPal (PYPL $83.05) is expected to open higher after Wedbush raised its target price to $100 from $90.

Philip Morris advanced $0.86 to 78.25 after raising its dividend by 6.5%.

Chevron (CVX $126.96) is expected to open higher after Mizoho initiated coverage with a Buy rating.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/06/07/stock-market-outlook-for-june-8-2018/

Outlook for Gold and Gold Stocks/ETFs

The Seasonal trade from late July to early October is lining up nicely this year. Technical, fundamental and seasonal influences for the trade are summarized by Don Vialoux in the latest edition of Investors Digest. The report is available today for subscribers at

http://investorsdigestofcanada.com/

Observation

Technicals for the precious metal sector show that the seasonal trade may appear earlier than usual this year. A move by the TSX Gold Index above 193.52 will confirm start of the period of seasonal strength.

Silver and silver stock prices already are showing encouraging technical signs. Nice move by silver yesterday above $16.86 per ounce setting an intermediate uptrend!

StockTwits Released Yesterday @EquityClock

MMM $MMM, a Dow Jones Industrial stock moved above $204.64 completing a base building pattern.

UnitedHealth Group $UNH, a Dow Jones Industrial stock moved above $249.96 to an all-time high extending an intermediate uptrend.

Regional Bank SPDRs $KRE moved above $65.59 to an all-time high extending an intermediate uptrend.

Money Center Bank SPDRs $KBE moved above $50.88 extending an intermediate uptrend.

Retail SPDRs $XRT moved above $48.95 to an all-time high extending an intermediate uptrend.

Technical action by S&P 500 stocks to 10:00: Bullish. Breakouts: $ROST $ETFC $ICE $PBCT $USB $MTD $AGN $UNH $MAS $MMM $CF $IRM.

Editor's Note: After 10:00 AM EDT breakouts included HAS, COST, A, COL, MOS, FDX, MCD, TWX, BK, MAS, IRM, MO and RF. Breakdown: BF.B.

Thomson Reuters $TRI.CA $TRI, a TSX 60 stock moved above $52.44 setting intermediate uptrend.

McDonalds $MCD, a Dow Jones Industrial stocks moved above $166.89 extending an intermediate uptrend.

SNC Lavalin $SNC.CA, a TSX 60 stock moved above $58.49 to an all-time high extending an intermediate uptrend.

Soybean ETN $SOYB moved below $18.09 extending an intermediate downtrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for June 7th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for June 6th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for June 7th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 1.20 to 68.20 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer slipped 1.67 to 67.92 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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