Tech Talk for Wednesday June 29th 2022

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.

Index futures were virtually unchanged following release of an update on U.S. annualized first quarter real GDP at 8:30 AM EDT. Consensus was unchanged at a deficit of 1.5%. Actual was a deficit of 1.6%.

Couche-Tard dropped $1.96 to Cdn$53.38 after the company reported less than consensus fourth quarter results.

Carnival plunged $0.82 to $9.51 after Morgan Stanley lowered its target price on the stock.

General Mills gained $1.74 to $72.00 after reporting higher than consensus fiscal fourth quarter results. The company also increased its dividend by 6%.

Bed Bath & Beyond dropped $0.62 to $5.91 after reporting a higher than consensus first quarter loss

EquityClock's Daily Comment

Headline reads "The more that the consumer becomes strained, the more they are turning towards debt". Following is a link:

http://www.equityclock.com/2022/06/28/stock-market-outlook-for-june-29-2022/

Technical Notes for yesterday

Nike $NKE a Dow Jones Industrial Average stock moved below $103.20 following release of quarterly results extending an intermediate downtrend.

Trip.com $TCOM a NASDAQ 100 stock moved above $25.04 and $25.57 extending an intermediate uptrend.

Boeing $BA a Dow Jones Industrial Average stock moved above intermediate resistance at $142.31.

Lithium ETN $LIT moved above $77.02 setting an intermediate uptrend.

Hong Kong iShares $EWH moved above $22.20 setting an intermediate uptrend.

Baidu $BIDU a NASDAQ 100 stock moved above $155.70 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 28th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for June 28th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 27th 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)

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 7.20 to 14.80 yesterday. It remains Oversold.

The long term Barometer eased 1.80 to 23.00 yesterday. It remains Oversold.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.42 to 15.06 yesterday. It remains Oversold.

The long term Barometer was unchanged at 27.20 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.