Tech Talk for Friday June 19th 2020
U.S. equity index futures were higher this morning. S&P 500 futures were up 34 points in pre-opening trade.
The Canadian Dollar was virtually unchanged at US 73.68 cents following release of Canadian April Retail Sales at 8:30 AM EDT. Consensus was a drop of 15.1% versus a drop of 10.1% in March. Actual was a drop of 26.4%. Excluding auto sales, consensus was a drop of 13.5% versus a decline of 0.4% in March. Actual was a decline of 22.0%.
Occidental Petroleum added $0.87 to $20.54 after SunTrust RH raised its rating from Hold to Buy. Target price was raised from $13 to $25.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0015-5.png "clip_image001[5]")
EOG Resources gained $1.31 to $54.24 after SunTrust RH raised its rating from Hold to Buy. Target price was raised from $50 to $70.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0025-5.png "clip_image002[5]")
Disney gained $1.68 to $120.05 after Wells Fargo raised its target price from $107 to $118.
Slack slipped $0.87 to $33.35 after Goldman Sachs downgraded the stock from Neutral to Sell.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0045.png "clip_image004[5]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/06/18/stock-market-outlook-for-june-19-2020/
Technical Notes
Biogen (BIIB), a NASDAQ 100 stock moved below $262.25 setting an intermediate downtrend.
Workday (WDAY), a NASDAQ 100 stock moved above $187.00 extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for June 18th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for June 18th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 18th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer slipped 2.20 to 85.37 yesterday. It remains extremely intermediate overbought.
TSX Momentum Barometer
The Barometer was unchanged yesterday at 76.02 It remains extremely intermediate 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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