Tech Talk for Wednesday June 24th 2020
U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade.
Shopify added $1.54 to $912.88 after KeyBanc Capital raised its target price from US$805 to U$1,000.
![clip_image001[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0013-1.png "clip_image001[3]")
Aurora Cannabis added $0.03 to $13.67 after Stifel Nicolaus raised its target price from Cdn$6.20 to Cdn$17.50.
![clip_image002[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0023-1.png "clip_image002[3]")
Constellation Brands added $0.54 to $181.00 after Deutsche Bank raised its target price from $157 to $176.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0031-6.png "clip_image003[1]")
Amazon gained $18.59 to $2,783.02 after Wedbush raised its target price from $2,750 to $3,050.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0041-1.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/06/23/stock-market-outlook-for-june-24-2020/
Technical Notes
Vertex (VRTX), a NASDAQ 100 stock moved above $295.55 to an all-time high extending an intermediate uptrend.
U.S. Crude Oil ETN (USO) moved above $20.19 extending an intermediate uptrend.
Surprising gains by US New Home Sales from 580,000 units in April to 676,000 units in May triggered strength in lumber prices, lumber ETFs (e.g. WOOD) and lumber equity prices (e.g. IFP, WFT, CFP, OSB).
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for June 23rd 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for June 23rd 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 23rd 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0011-8.png "clip_image001[1]")
The Barometer slipped 1.20 to 77.15 yesterday. It remains extremely intermediate overbought and trending down.
TSX Momentum Barometer
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0021-4.png "clip_image002[1]")
The Barometer added 2.88 to 81.70 yesterday. 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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