Tech Talk for Wednesday June 3rd 2020
U.S. equity index futures were higher this morning. S&P 500 futures advanced 18 points in pre-opening trade.
Index futures were virtually unchanged following release of the May ADP Employment report at 8:15 AM EDT. Consensus was job loss of 9.0 million versus job loss of 20.236 million in April. Actual was job loss of 2.760 million
The Canadian Dollar was virtually unchanged at US73.78 cents prior to the Bank of Canada's interest rate decision at 10:00 AM EDT. Consensus is that interest rates will not change.
Campbell Soup added $0.29 to $52.30 after reporting higher than consensus fiscal third quarter sales and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0011-1.png "clip_image001[1]")
Canada Goose gained $0.51 to $22.10 after reporting higher than consensus fiscal fourth quarter sales and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0021.png "clip_image002[1]")
AMC Entertainment is expected to open lower after lowering first quarter sales and earnings guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0031-1.png "clip_image003[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/06/02/stock-market-outlook-for-june-3-2020/
Technical Notes
China iShares (FXI) moved above $39.80 extending an intermediate uptrend.
Sirius (SIRI), a NASDAQ 100 stock moved above $6.00 setting an intermediate uptrend.
Texas Instruments (TXN), a NASDAQ 100 stock moved above $118.89 setting an intermediate uptrend.
Charter Communications (CHTR), a NASDAQ 100 stock moved above $546.54 to an all-time high extending an intermediate uptrend.
TCOM (TCOM), a NASDAQ 100 stock moved above $26.73 extending an intermediate uptrend.
Power Corp. (POW), a TSX 60 stock moved above $23.71 completing a base building pattern.
Blackberry (BB), a TSX 60 stock moved above $6.62Cdn.extending an intermediate uptrend.
Sun Life Financial (SLF), a TSX 60 stock moved above $49.40 extending an intermediate uptrend.
North American Forest Product stocks and related ETFs (e.g. WOOD) continue to move higher. Nice breakout by West Fraser Timber (WFT) above $41.00 Cdn. extending an intermediate uptrend.
Global Uranium ETF (URA) moved above $11.34 extending an intermediate uptrend.
The Euro moved above 111.54 setting an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for June 2nd 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for June 2nd 2020
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0025.png "clip_image002[5]")
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 2nd 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0015.png "clip_image001[5]")
The Barometer added 0.60 to another all-time high of 97.60 yesterday. It remains extremely intermediate overbought, but has yet to show signs of a peak.
TSX Momentum Barometer
![clip_image002[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/06/clip_image0027.png "clip_image002[7]")
The Barometer was unchanged yesterday at 88.34. It remains extremely intermediate overbought, but has yet to show signs of a peak.
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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