Tech Talk for Thursday June 24th 2021

U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade.

U.S. equity index futures were virtually unchanged prior to release of economic news at 8:30 AM EDT. Consensus for May Durable Goods Orders is an increase of 1.9% versus a decline of 1.3% in April. Excluding aircraft orders, consensus for May Durable Orders is an increase of 0.8% versus a gain of 1.0% in April. Consensus for the next estimate for first quarter real GDP is growth at a 6.4% annual rate. Consensus for May Personal Income is a drop of 2.0% versus a drop of 13.1% in April. Consensus for May Personal Spending is an increase 0.4% versus a gain of 0.5% in April.

KB Homes dropped $1.77 to $41.60 after reporting lower than consensus second quarter revenues.

Beyond Meat fell $2.34 to 4145.10 after Dunkin Donuts discontinued its Beyond Meat breakfast sandwich.

Microsoft (MSFT $265.27 ) is expected to open higher in anticipation of the launch today of Windows 11.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/06/23/stock-market-outlook-for-june-24-2021/

Technical Notes for yesterday

at StockCharts.com@EquityClock

Existing home sales struggle again during what is typically the height of the spring home selling season. This is threatening the strength in the consumer economy. Find out how and why in today's report. equityclock.com/2021/06/22/… $ITB $XHB $LEN $DHI $PHM #Housing $STUDY

Brazil iShares $EWZ moved above $41.41 extending an intermediate uptrend.

Seasonal influences are positive for Brazil iShares $EWZ from mid-June to at least the beginning of November.

VALE $VALE one of the world’s largest base metals producers moved above $23.01 to an all-time high extending an intermediate uptrend.

Seasonal influences for VALE $VALE are positive on a real and relative basis (relative to the S&P 500 Index) from mid-June to the end of December.

Gasoline ETN $UGA moved above $35.85 extending an intermediate uptrend.

Match $MTCH a NASDAQ 100 stock moved above $160.25 resuming an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 23rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for June 23rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 23rd 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

Interesting Comments from https://uncommonsenseinvestor.com/

Mark Bunting from "uncommon SENSE Investor" offers links to the following articles:

How to be the Smart Money

How to Be the Smart Money – Uncommon Sense Investor

Canadian stocks are trading at the steepest discount to U.S. stocks in about 20 years.

Strategist Favours Canadian Stocks Trading at Steep Discount to "Frothy" S&P 500 – Uncommon Sense Investor

Where were you in 2004? How This Market Mirrors 2004 and Why That's Good

How This Market Mirrors 2004 and Why That’s Good – Uncommon Sense Investor

Market Buzz

Greg Schnell discusses "The Grand Breakout". Following is a link:

https://www.youtube.com/watch?v=7y4x8ZnRZ0Q

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 2.00 to 43.49 yesterday. It remains Neutral.

The long term Barometer eased 1.20 to 88.78 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

The intermediate term Barometer slipped 1.84 to 60.37 yesterday. It remains Overbought

The long term Barometer was unchanged at 75.12 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