Pre-opening Comments for Thursday June 13th

U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.

Index futures were virtually unchanged following release of Weekly Jobless Claims at 8:30 AM EDT. Consensus was 217,000 versus 219,000 last week. Actual was 222,000.

WTI crude oil jumped $1.83 to $52.97 per barrel after two tankers were attacked near the Strait of Hormuz.

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Lululemon gained $9.11 to $180.00 after reporting higher than consensus first quarter sales and earnings. The company also raised guidance.

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Lennar gained $1.39 to $53.48 after Wedbush upgraded the stock to Outperform from Neutral.

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Target (TGT $88.26) is expected to open higher after increasing its dividend

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/06/12/stock-market-outlook-for-june-13-2019/

Note seasonality charts on Crude Oil, Crude Oil Days of Supply and the Consumer Price Index

 

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $JNJ $XRX. No breakdowns.

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Editor’s Note: After 10:00 AM EDT, intermediate breakout included MRK and breakdown included RTN.

Johnson & Johnson $JNJ, a Dow Jones Industrial stock moved above $141.36 extending an intermediate uptrend.

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US Consumer Price Index #CPI up 0.2% (NSA) in May, slightly weaker than the 0.3% increase that is average for the spring month. $MACRO #Economy

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Cascades $CAS.CA moved above $9.72 extending an intermediate uptrend.

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Merck $MRK, a Dow Jones Industrial stock moved above $83.85 to an all-time high extending an intermediate uptrend.

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Power Corp $POW.CA, a TSX 60 stock moved below $27.42 extending an intermediate downtrend.

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Power Financial $PWF.CA moved below $29.58 extending an intermediate downtrend.

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Inter Pipeline $IPL.CA moved below $20.16 setting an intermediate downtrend.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for June 12th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for June 12th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 12th 2019

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Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

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The Barometer slipped 2.20 to 54.31 yesterday. It remains intermediate neutral.

 

TSX Momentum Barometer

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The Barometer added 0.63 to 49.58 yesterday. It remains intermediate neutral.

 

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