Tech Talk for Thursday June 2nd 2022

U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points at 7:30 AM EDT.

April Factory Orders to be released at 10:00 AM EDT are expected to increase 0.8% versus a gain of 1.8% in March.

Chewy $CHWY gained $4.56 to $28.10 after reporting higher than consensus quarterly revenues and earnings.

Hewlett Packard Enterprises $HPE dropped $1.08 to $14.70 after reporting lower than consensus quarterly results.

Lands End dropped $1.07 to $10.07 after reporting lower than consensus first quarter results. The company also lowered second quarter guidance.

EquityClock's Daily Comment

Headline reads "Economic data continues to point to strength in manufacturing alongside ongoing degradation of the consumer, providing a theme to tailor investment portfolios around".

Following is a link:

http://www.equityclock.com/2022/06/01/stock-market-outlook-for-june-2-2022/

Technical Notes for yesterday

Micron $MU a NASDAQ 100 stock moved above $74.73 completing a double bottom pattern.

Platinum ETN $PPLT moved above $93.20 setting an intermediate uptrend.

IBM $IBM a Dow Jones Industrial Average stock moved above $140.18 to a 9 year high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 1st 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for June 1st 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 1st 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 (except TSX)

Links offered by valued providers

Links from Mark Bunting and www.uncommonsenseinvestor.com

Rare Opportunity in Five Large Cap Growth Stocks – Uncommon Sense Investor

Two Market Scenarios: "Battling the Bear" or "Ripping Off the Band-Aid" – Uncommon Sense Investor

Market Watch comment

https://www.marketwatch.com/story/brace-for-another-selloff-if-u-s-stocks-reach-this-technical-danger-zone-11654001519?mod=home-page

Greg Schnell says "Market technicals at critical levels."

Market Technicals at Critical Levels | Greg Schnell, CMT | Market Buzz (06.01.22) - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 6.41 to 33.47 yesterday. It remains Oversold.

The long term Barometer slipped 2.61 to 34.67 yesterday. It remains Oversold.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.74 to 31.86 yesterday. It remains Oversold.

The long term Barometer added 0.61 to 39.38 yesterday. It remains Oversold.

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.