Tech Talk for Friday July 2nd 2021
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.
Index futures moved higher following release of economic news at 8:30 AM EDT. Consensus for June Non-farm Payrolls was an increase to 700,000 from 559,000 in May. Actual was 850,000. Consensus for June Unemployment Rate was a drop to 5.6% from 5.8% in May. Actual was an increase to 5.9%. Consensus for June Average Hourly Earnings was an increase of 0.4% versus a gain of 0.5% in May. Actual was an increase of 0.3% . Consensus for
The Canadian Dollar advance 0.20 to US80.74 cents following release of the May Canadian Trade Balance at 8:30 AM EDT. Consensus was a $700 million deficit versus a $590,000 surplus in April. Actual was a deficit of $1.39 billion.
Eli Lilly gained $0.87 to $232.00 after Truist raised its target price from $225 to $282. The stock was rated a Buy.
Raytheon Technologies added $0.41 to $86.63 after winning a $2 billion U.S. Defense contract
BRP (DOO Cdn$97.00) is expected to open higher after Raymond James initiated coverage with a Strong Buy rating.
EquityClock's Comments
Following is a link to the daily comment:
http://www.equityclock.com/2021/06/30/stock-market-outlook-for-july-2-2021/
Following is a link to a special July report:
http://www.equityclock.com/2021/07/01/stocks-that-have-gained-in-every-july/
Editor's Note
Don Vialoux is a guest on Michael Campbell's Money Talks radio show at approximately 9:00 AM Pacific time (Noon Toronto time) tomorrow (Saturday) at www.CKNW.com Discussion will focus on current equity market prospects.
Technical Notes released Yesterday at
Water Resource ETF $PHO moved above $53.85 to an all-time high extending an intermediate uptrend.
Editor's Note: Seasonal influences for PHO are positive on a real and relative basis between now and the third week in September. See seasonality chart at www.equityclock.com
Walgreens Boots $WBA a Dow Jones Industrial Average stock moved below $51.12 completing a double top pattern.
O’Reilly Automotive $ORLY a NASDAQ 100 stock moved above $568.63 to an all-time high extending an intermediate uptrend. Seasonal influences are positive on a real and relative basis to the beginning of December. See equityclock.com/
Brookfield Infrastructure $BIP a TSX 60 stock moved above US$56.27 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for July 1st 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for July 1st 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 1st 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index
Seasonality Chart of the Day
Seasonality on a real and relative basis (relative to the S&P 500 Index) for Crude Oil Futures changed from Positive on July 4th to Negative to December 7th. Gasoline futures have an identical seasonality pattern.
S&P 500 Momentum Barometers
The intermediate term Barometer added 7.21 to 55.91 yesterday. It remains Neutral.
The long term Barometer added 0.40 to 91.98 yesterday. It remains Extremely Overbought.
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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