Tech Talk for Thursday June 27th 2024

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points at 8:35 AM EDT.

U.S. equity index futures recovered 5 points following release of economic news at 8:30 AM EDT: May Durable Goods Orders were expected to decrease 0.6% versus a gain of 0.7% in April. Actual was an increase of 0.1%. Updated U.S. first quarter annualized real GDP growth was expected to remain unchanged at 1.3%. Actual was a gain of 1.4%.

Micron dropped $7.61 to $134.75 after reporting fiscal third quarter revenue growth below consensus estimates.

Levi Straus dropped $2.78 to $20.34 after reporting less than consensus fiscal second quarter revenues.

Wallgreens Boots dropped $1.01 to $13.75 after reporting less than consensus fiscal first quarter results. The company also lowered guidance.

McCormick added $2.33 to $70.00 after reporting higher than consensus fiscal second quarter earnings.

EquityClock's Market Outlook for June 27th 2024

Bring on the summer rally!

See: https://equityclock.com/2024/06/26/stock-market-outlook-for-june-27-2024/

Technical Notes

Timber and Forestry iShares $WOOD moved below intermediate support at $76.98 completing a double top pattern.

Water Resources ETF $PHO moved below $64.43 completing a double top pattern.

Amazon $AMZN an S&P 100 stock moved above $191.70 to an all-time high extending an intermediate uptrend.

FedEx $FDX an S&P 100 stock moved above $289.69 extending an intermediate uptrend.

Paccar $PCAR a NASDAQ 100 stock moved below $103.94 extending an intermediate downtrend.

Dollar Tree $DLTR a NASDAQ 100 stock moved below $102.77 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 26th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for June 26th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 26th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Cruise Line stocks just exploded. Here what you need to know: David Keller

Cruise Line Stocks Just Exploded! Here’s What You Need to Know - YouTube

Can The Stock Rally Survive Without Big Tech? Guy Adami and Dan Nathan

Can The Stock Rally Survive Without Big Tech? - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 3.80 to 47.40. It remains Neutral.

The long term Barometer dropped 2.00 to 68.20. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer was unchanged at 37.84. It remains Oversold.

The long term Barometer dropped 1.35 to 60.81. It remains Overbought.

Disclaimer: Seasonality ratings 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