Tech Talk for Friday June 12th 2020
U.S. equity index futures were higher this morning. S&P 500 futures were up 50 points in pre-opening trade.
Adobe gained $11.33 to $399.00 after reporting higher than consensus fiscal second quarter earnings. JP Morgan raised its target price from $325 to $430.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0015-3.png "clip_image001[5]")
Lululemon dropped $9.26 to $298.86 after reporting lower than consensus first quarter revenues
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0025-3.png "clip_image002[5]")
General Motors advanced $1.32 to $27.82 after Goldman Sachs upgraded the stock from Neutral to Buy.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0035-1.png "clip_image003[5]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/06/11/stock-market-outlook-for-june-12-2020/
Technical Notes
Editor's Note: Despite large drops by major North American equity indices, number of breakdowns through intermediate support by big cap equities and ETFs was surprisingly small.
Johnson & Johnson (JNJ), a Dow Jones Industrial Average stock moved below $$143.26 setting an intermediate downtrend.
Cameco (CCO), a TSX 60 stock moved below $13.51 Cdn. setting an intermediate downtrend.
The VIX Index spikes on concerns that COVID 19 will come back for a second wave.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for June 11th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for June 11th 2020
Green: Increase from previous day
Red: Decrease from previous day
Editor's Note: Breaks below 20 day moving averages triggered additional weakness by most U.S. sectors.
Sectors
Daily Seasonal/Technical Sector Trends for June 11th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer plunged 16.63 to 79.56 yesterday. It remains intermediate overbought and has started to trend down.
TSX Momentum Barometer
The Barometer plunged 16.34 to 72.40 yesterday. It remains intermediate overbought and has started to trend 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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