U.S. equity index futures were lower this morning. S&P 500 futures were down 28 points in pre-opening trade.
Macy's added $0.97 to $10.52 after reporting a less than consensus first quarter loss.
Signet Jewelers dropped $0.87 to $16.00 after reporting lower than consensus first quarter revenues. The company also suspended its dividend.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/06/08/stock-market-outlook-for-june-9-2020/
Technical Notes
Consumer Staples SPDRs (XLP) moved above $60.70 setting an intermediate uptrend.
Coca Cola (KO), a Dow Jones Industrial Average stock moved above $49.73 setting an intermediate uptrend.
Microsoft (MSFT), a Dow Jones Industrial Average stock moved above $186.99 extending an intermediate uptrend. Testing its all-time high at $189.65
Oracle (ORCL), an S&P 100 stock moved above $54.72 setting an intermediate uptrend.
Liberty Global (LBTYA), a NASDAQ 100 stock moved above $23.50 setting an intermediate uptrend.
T-Mobile (TMUS), a NASDAQ 100 stock moved above $102.73 to an all-time high extending an intermediate uptrend.
Nutrien (NTR), a TSX 60 stock moved above $51.91Cdn. extending an intermediate uptrend.
Brookfield Asset Management (BAM.A), a TSX 60 stock moved above $50.14 Cdn. setting an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for June 8th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for June 8th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 8th 2020
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
Thank you to David Chapman and www.EnrichedInvesting.com for a link to their weekly report. Headline reads, " Dichotomy backdrop, shocking jobs, wild Friday, stretched valuations, top warning, gold correction"
S&P 500 Momentum Barometer
The Barometer added 0.80 to 97.80 yesterday. It remains extremely intermediate overbought, but has yet to show signs of peaking.
TSX Momentum Barometer
The Barometer slipped 0.45 to 90.13 yesterday. It remains extremely intermediate overbought, but has yet to show signs of peaking.
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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