Tech Talk for Friday June 4th 2021

Index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.

U.S. equity futures moved slightly higher following release of the May employment report at 8:30 AM EDT. May Non-farm Payrolls were expected to increase to 671,000 from upwardly revised 278,000 in April. Actual was 559,000. May Unemployment Rate was expected to slip to 5.9% from 6.1% in April. Actual was a drop to 5.8%. May Average Hourly Earnings were expected to increase 0.2% versus a gain of 0.7% in April. Actual was an increase of 0.5%. .

The Canadian Dollar was virtually unchanged at US82.56 cents following release of Canada's May Employment report at 8:30 AM EDT. Employment was expected to fall 22,500 versus a fall of 207,100 in April. Actual was a drop of 68,000. May Unemployment Rate was expected to increase to 8.2% from 8.1% in April. Actual was an increase to 8.2%. .

Lululemon added $8.00 to $325.36 after reporting higher than consensus first quarter revenues and earnings. The company also raised second quarter and annual guidance.

Docusign added $8.30 to $202.05 after reporting higher than consensus quarterly sales and earnings. Wedbush raised its target price from $260 to $300.

American Eagle Outfitters (AEO $33.40) is expected to open higher after announcing a 31% increase in its dividend.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/06/03/stock-market-outlook-for-june-4-2021/

Technical Notes released yesterday at StockTwits.com@EquityClock

Medtronic $MDT an S&P 100 stock moved below $122.86 completing a double top pattern.

Global Timber and Forest iShares $WOOD moved below $89.71 completing a Head & Shoulders pattern

Caterpillar $CAT a Dow Jones Industrial Average stock moved above $245.78 to an all-time high extending an intermediate uptrend.

General Motors $GM an S&P 100 stock moved above $63.44 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 3rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for June 3rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 2nd 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

Market Buzz

Greg Schnell rolls through the month end charts from around the world. This is a very high level view and Greg works to explain why he thinks these markets are getting ready to move higher. Following is a link:

https://www.youtube.com/watch?v=54nBWKDYChc

S&P 500 Momentum Barometer

The intermediate term Barometer slipped 2.66 to 70.68 yesterday. It remains Overbought.

The long term Barometer added 1.22 to 89.96 yesterday. It remains Extremely Overbought.

TSX Momentum Barometer

The intermediate Barometer slipped 1.52 to 70.83 yesterday. It remains Overbought.

The long term Barometer dropped 2.66 to 70.68 yesterday. It remains 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