Tech Talk for Thursday June 28th 2018

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

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 220,000 from 218,000 last week. Actual was 227,000. Consensus for updated first quarter GDP was unchanged from the previous annualized estimate at 2.2%. Actual was 2.0%.

Walgreen dropped $2.95 to 63.31 despite reporting higher than consensus fiscal third quarter sales and earnings. The company also raised its dividend and announced a $10 billion share buyback program. Weakness is related to Amazon announcing an acquisition in the Pharmaceutical distribution sector.

McCormick gained $2.82 to $108.75 afte4r reporting higher than consensus fiscal second quarter sales and earnings.

Salesforce.com added $0.47 to $133.69 after BMO Capital selected the stock as a "Top Pick".

Bed Bath & Beyond fell $1.01 to $19.17 after reporting lower than consensus quarterly sales.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/06/27/stock-market-outlook-for-june-28-2018/

Note seasonality charts on U.S. Imports and Exports, Durable Goods Orders and Silver Futures.

Observation

Crude Oil closed at a 43 month high extending its intermediate uptrend. 'Tis the season for strength to September!

StockTwits Released Yesterday @ EquityClock

Technical action by S&P 500 stocks to 10:15: Mixed. Intermediate breakouts: $CXO $HES $NFX $INFO. Breakdowns: $MCD $PRU $DAL $SEE

S&P 500 breakdowns escalated after 10:15 (particularly financials): $CAG $NE $AFL $BKNG $ETFC $RF $TMK $WM $BK

Editor's Note: Additional breakdowns in late trading included HLT, WLTW, STT, UNM, FLHS and UNP

Encana $ECA.CA, a TSX 60 stock moved above $17.88 and $17.89 extending an intermediate uptrend.

ManuLife Financial $MFC.CA, a TSX 60 stock moved below $24.02 setting an intermediate downtrend.

Regional Bank SPDRs $KRE moved below $62.01 completing a double top pattern.

Frontier iShares $FM moved below $29.34 extending an intermediate downtrend.

Crude Oil ETN $USO moved above $14.74 to a 33 month high extending an intermediate uptrend.

Power Financial $PWF.CA moved below $31.08 extending an intermediate downtrend.

Cogeco Cable $CCA.CA moved below $65.58 and $65.55 extending an intermediate downtrend.

CI Financial $CIX.CA moved below $22.96 extending an intermediate uptrend.

Days of Supply of Oil down 23.7, just 1.3 days above average. Narrowest gap above normal in 41 months.

S&P 500 Index testing and reacting to gap resistance around 2743. $SPX $SPY $ES-F

Both U.S. Imports and Exports showing above average in May. Exports showing best YTD change since 2011 #Trade $MACRO #Economy

US Durable Goods Orders up 2.9% (NSA) in May, above the average increase for the month of 2.5%. $MACRO #Economy #Manufacturing

Trader's Corner

Daily Seasonal/Technical Equity Trends for June 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for June 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for June 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer plunged 5.80 to 48.80 yesterday. It remains intermediate neutral and trending down.

TSX Momentum Barometer

The Barometer dropped another 2.33 to 60.33 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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