Jon Vialoux on BNN’s Market Call Tonight Posted yesterday. Following are links: http://www.bnn.ca/market-call-tonight/jon-vialoux-s-top-picks~1156881 Top picks http://www.bnn.ca/market-call-tonight/jon-vialoux-s-past-picks~1156853 Past picks http://www.bnn.ca/market-call-tonight/jon-vialoux-s-market-outlook~1156809 Market Outlook Observations U.S. Financials dominated upside technical action by U.S. equity indices yesterday. One of the reasons was anticipation of news to be released by the top 33 U.S. banks after the close. Banks that passed the Fed’s stress tests (they all did) were allowed to increase their dividends and to announce share buy backs. Many of the big banks made their announcements after the close. Initial response following the news was additional share price strength. Canadian bank stocks also responded even though they were not directly impacted. The BMO Equal Weight ETF: ZEB nicely moved above resistance at $27.08 establishing an intermediate uptrend. Look for additional strength in the sector today. StockTwits Released Yesterday Canadian Dollar breaking above long term trend resistance. See http://www.equityclock.com/2017/06/27/stock-market-outlook-for-june-28-2017/ Technicals for S&P 500 stocks to 12:30: Bullish. 21 breakouts (including 13 Financials). 5 breakdowns. Editor’s Note: After 12:30 PM, breakout included WMB and breakdowns included DTE, CNP, CL, PNW and XEL. Steel ETF $SLX moved above $37.77 completing a double bottom pattern. Agrium $AGU.CA, a TSX 60 stock moved below $119.58 extending an intermediate downtrend. Potash Corp $POT.CA, a TSX 60 stock moved below $21.43 extending an intermediate downtrend. More Canadian forest product stocks break intermediate resistance: $WFT.CA $OSB.CA SNC-Lavalin $SNC.CA, a TSX 60 stock moved above $55.57 extending an intermediate uptrend. iShares Global Agriculture ETF $COW.CA moved below $Cdn36.09 to complete a Head & Shoulders pattern. Continuing weakness in the U.S. Dollar Index boosts commodity ETN prices: $USO $JJC $LZIC.L $SLV $GLD Editor’s Note: Conversely, the Canadian Dollar soared. More U.S. Utility stocks/ETFs completing double top patterns with S&P Utilities Index: $XLU $DTE $CNP Editor’s Note: Subsequently, PNW and XEL completed double top patterns Hudbay Minerals $HBM.CA moved above $7.77 completing a double bottom pattern. Consensus Second Quarter Earnings per Share For TSX 60 Companies The outlook for second quarter earnings per share by TSX 60 companies is positive. Consensus shows that earnings per share on a year-over-year basis will increase by an average (median) of 11.3%. In contrast, average (median) gain by Dow Jones Industrial Average stocks is only 3.0%. Forty seven companies are scheduled to report higher earnings, three companies are expected to report no change, eight companies are expected to report lower earnings and two companies did not have comparable data. Gains by the energy companies are most notable. Most recovered from a loss last year to a profit this year. Other companies expected to show big percentage gains include Brookfield Asset Management, Teck Resources and Shaw Communications. A notable decliner is Valeant Pharmaceutical. Trader’s Corner Score gains yesterday mainly were triggered by indices moving back above their 20 day moving average. Daily Seasonal/Technical Equity Trends for June 28th 2017 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for June 28th 2017 Green: Increase from previous day Red: Decrease from previous day * Excludes adjustment from rollover of futures contracts Daily Seasonal/Technical Sector Trends for June 28th 2017 Green: Increase from previous day Red: Decrease from previous day S&P 500 Momentum Barometer The Barometer gained 7.00 to 72.40 yesterday. It remains intermediate overbought. TSX Momentum Barometer The Barometer gained 6.51 to 50.83 yesterday. It remains at a neutral level. Disclaimer: Seasonality and technical ratings offered in this report and 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