Tech Talk for Wednesday June 6th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.

Index futures were virtually unchanged following release of the April U.S. Trade Deficit report at 8:30 AM EDT. Consensus was $50.0 billion versus $49 billion in March. Actual was $46.2 billion.

The Canadian Dollar was unchanged at U.S. 76.66 cents following release of Canada's April Merchandise Trade Deficit report at 8:30 AM EDT. Consensus was $2.5 billion. Actual was $1.9 billion.

Kohl's added $0.02 to 74.96 after JP Morgan raised its target on the stock to $84 from $76.

ADP (ADP $134.07) is expected to open higher after Stifel Nicolaus increased its target price to $148 from $126.

Merck improved $0.22 to $61.61 after SunTrust raised its target price to $74 from $72.

UnitedHealth Group added $2.57 to $247.00 after the company raised its dividend by 20% and set a $100 million share buyback program

Valeant Pharm gained $0.56 to $24.15 after Barclay's upgraded the stock to Overweight.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/06/05/stock-market-outlook-for-june-6-2018/

Note seasonality charts on 10 year Treasury Futures and Non-farm Job Openings

Observation

The NASDAQ Composite Index moved above 7,637.27 yesterday to an all-time high extending an intermediate uptrend.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:15: Quiet. Intermediate breakout: $MYL. Breakdowns: $CCL $RCL

Editor's Note: After 10:15 AM EDT, breakouts included TGT, AKAM, CTXS, FRT, JWN, FISV, MSI and NTAP. Breakdowns included VRTX, BLL, DTE ES and PNW.

Nickel ETN $JJNTF moved above $19.16 to 3 year high extending an intermediate uptrend. Largest producer of nickel is $VALE.

Cameco $CCO.CA $CCJ, a TSX 60 stock moved above $15.01 extending an intermediate uptrend.

Uranium ETF $URA moved above $14.25 extending an intermediate uptrend mainly due to strength in Cameco $CCJ.

Finning International $FTT.CA moved above $33.89 extending an intermediate uptrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for June 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for June 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for June 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Canadian conglomerates: What to buy and what to avoid. See link:

https://www.valuetrend.ca/canadian-conglomerates-what-to-buy-what-to-avoid/

S&P 500 Momentum Barometer

The Barometer slipped 0.28 to 61.52 yesterday. It remains intermediate overbought and showing early signs of rolling over.

TSX Momentum Barometer

The Barometer added 2.08 to 70.83 yesterday. It remains intermediate overbought and showing early 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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