Observations U.S. equity markets recovered strongly from a downdraft in early trading yesterday. All major equity indices recorded gains by the close. Short term momentum indicators (Daily Stochastics, RSI, MACD) turned upward from oversold levels. ‘Tis the season for U.S. equity indices to move higher until the third week in July Strength was despite significant weakness by Far East equity markets. The Shanghai Composite Index and Hang Seng Index dropped to multi-month lows. The Nikkei Index dropped below support at 21,900. Japan iShares dropped below $57.14 to a 9 month low. The Kospi Index completed a Head & Shoulders pattern. In response to weakness in Far East equity markets, copper completed a double top pattern on a move below $2.94 per lb. Mexico ETF moved lower following election of a leftist leaning President. StockTwit Released Yesterday @EquityClock Technical action by S&P 500 stocks to 10:00: Bearish. No intermediate breakouts. Breakdowns: $F $HAL $PBCT $PCAR. Editor’s Note: After 10:00 AM EDT, no intermediate breakouts. Breakdowns: BEN, PKG, GGP and CAG Trader’s Corner Daily Seasonal/Technical Equity Trends for July 2nd 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for July 2nd 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Sector Trends for July 2nd 2018 Green: Increase from previous day Red: Decrease from previous day S&P 500 Momentum Barometer The Barometer added 0.80 to 53.40 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