Tech Talk for Friday June 10th 2022

U.S. equity index futures were lower this morning. S&P 500 futures were down 44 points in pre-opening trade.

U.S. equity index futures moved lower following release of the May Consumer Price Index at 8:30 AM EDT. May U.S. Consumer Price Index to be released at 8:30 AM EDT on Friday was expected to increase 0.7% versus a gain of 0.3% in April. Actual was an increase of 1.0%. On a year-over-year basis May Consumer Price Index is expected to increase 8.3% versus a gain of 8.3% in April. Actual was an increase of 8.6%. Excluding food and energy, May Consumer Price Index was expected to increase 0.5% versus a gain of 0.6% in April. Actual was an increase of 0.6%. On a year-over-year basis, May Consumer Price Index excluding food and energy was expected to increase 5.9% versus a gain of 6.2% in April. Actual was an increase of 6.0%.

The Canadian Dollar slipped 0.17 to US 78.37 cents following release of Canada's May Employment Report at 8:30 AM EDT. Consensus was an increase in employment by 27,500 versus a gain of 15,300 in April. Actual was an increase of 39,800. Consensus for May Unemployment Rate was unchanged from April at 5.2%. Actual was a slip to 5.1%.

DocuSign plunged$18.15 to $69.00 after reporting less than consensus first quarter results. The company also lowered guidance.

Vail Resorts advanced $18.03 to $263.53 after reporting higher than consensus quarterly results. The company also raised its dividend.

StitchFix dropped $1.37 to $6.41 after reporting lower than consensus quarterly results.

EquityClock's Daily Comment

Headline reads "While the fundamental backdrop still leans bullish for the price of Natural Gas, the period of seasonal weakness ahead for the commodity could take the commodity off of its positive trend". Following is a link:

http://www.equityclock.com/2022/06/09/stock-market-outlook-for-june-10-2022/

Technical Notes for Yesterday

Soybean ETN $SOYB moved above $27.11 to an all-time high extending an intermediate uptrend.

Turkey ETF $TUR moved below $19.92 setting an intermediate downtrend.

Regeneron $REGN a NASDAQ 100 stock moved below $597.76 setting an intermediate downtrend.

Intel $INTC a Dow Jones Industrial Average stock moved below $40.31 extending an intermediate downtrend.

Peloton $PTON a NASDAQ 100 stock moved below $11.25 extending an intermediate downtrend.

Xcel Energy $XEL a NASDAQ 100 stock moved below intermediate support at $71.02.

Nikkei Average moved above 28,338.81 setting an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 9th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for June 9th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 9th 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 (except TSX)

S&P 500 Momentum Barometers

The intermediate term Barometer plunged 14.28 to 24.00 yesterday. It changed from Neutral to Oversold on a move below 40.00.

The long term Barometer dropped 5.27 to 29.40 yesterday. It remains Oversold.

TSX Momentum Barometers

The intermediate term Barometer dropped 1.36 to 32.27 yesterday. It remains Oversold.

The long term Barometer dropped 4.89 to 36.36 yesterday. It changed from Neutral to Oversold on a move below 40.00.

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.