Tech Talk for Wednesday June 9th 2021

U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

The Canadian Dollar was quiet at US82.78 cents prior to news from the Bank of Canada. Its overnight lending rate for Canada's major banks to be announced at 10:00 AM EDT is expected to remain unchanged at 0.25%.

UPS (UPS $209.76) is expected to open higher after the company raised its revenue guidance.

Sherwin Williams added $0.19 to $281.00 after the company raised sales and profit guidance.

Target gained $0.77 to $235.87 after the company increased its quarterly dividend from $0.68 to $0.90 per share.

Campbell Soup dropped $3.79 to $45.33 after announcing lower than consensus third quarter revenues and earnings. The company also lowered fourth quarter guidance.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/06/08/stock-market-outlook-for-june-9-2021/

Technical Notes released yesterday at StockTwits.com@EquityClock

US Dollar has approached a significant zone of support, which could have an impact on stocks and commodities ahead. equityclock.com/2021/06/07/… $USDX $UUP $DXY

S&P 500 SPDRs $SPY moved above $422.82 to an all-time high extending an intermediate uptrend.

Israel iShares $EIS moved above $69.26 to an all-time high extending an intermediate uptrend.

Xcel Energy $XEL a NASDAQ 100 stock moved below $69.50 and $69.42 completing a Head & Shoulders pattern.

Loblaw Companies $L.CA a TSX 60 stock moved above $75.50 to an all-time high extending a long term uptrend.

Commodity Notes

Lumber futures moved below $1,201 yesterday, completing a double top pattern.

Lumber and forest product stocks/ETFs on both sides of the border have a similar technical pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 8th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for June 8th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 8th 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

S&P 500 Momentum Barometers

The intermediate Barometer slipped 1.41 to 68.07 yesterday. It remains Overbought.

The long term Barometer was unchanged at 90.96 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

The intermediate term Barometer was unchanged at 71.76 yesterday. It remains Overbought.

The long term Barometer slipped 0.46 to 81.02 yesterday. It remains Extremely 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