Response to FOMC Meeting Minutes at 2:00 PM EDT
U.S. equity indices moved higher.
The U.S. Dollar was virtually unchanged.
Long term bond prices dipped slightly
Gold and gold equity prices recovered from deeply oversold levels.
Technical Notes Yesterday
Costco $COST a NASDAQ 100 stock moved above $484.24 setting an intermediate uptrend.
O’Reilly Automotive $ORLY a NASD 100 stock moved above $652.30 setting an intermediate uptrend.
Thomson Reuters $TRI.TO a TSX 60 stock moved above $137.07 extending an intermediate uptrend.
Canadian National Railway $CNR.TO a TSX 60 stock moved above intermediate resistance at $148.32
Loblaw Companies $L.TO a TSX 60 stock moved above $119.15 to an all-time high extending an intermediate uptrend.
Dollarama $DOL.TO a TSX 60 stock moved above $76.80 to an all-time high extending an intermediate uptrend.
Waste Connections $WCN.TO a TSX 60 stock moved above intermediate resistance at $164.75.
Gold stocks continue to respond to lower gold and silver prices. Agnico-Eagle, a TSX 60 stock moved below Cdn$57.67 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for July 6th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for July 6th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 6th 2022
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
Link from Mark Bunting and www.uncommonsenseinvestor.com
Q3 Equity Strategy Outlook – Uncommon Sense Investor
Greg Schnell is “Looking for rotation”
Looking for Rotation | Greg Schnell, CMT | Your Daily Five (07.06.22) – YouTube
David Keller discusses “Decent bounce for Tech and Consumer stocks”
Decent Bounce for Tech and Consumer | David Keller, CMT | The Final Bar (07.05.22) – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 4.20 to 26.80 yesterday. It remains Oversold. Trend is up.
The long term Barometer slipped 0.80 to 21.60 yesterday. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer dropped 1.57 to 17.99 yesterday. It remains Oversold.
The long term Barometer slipped 0.84 to 22.18 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.
