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June 22, 2024 | Tech Talk for Saturday June 22nd 2024

Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

Focus this week is on the May Core PCE Price Index released on Friday. This report is the FOMC’s most important indicator for inflation. A drop below the 2.8% annual rate set in April will signal easing inflation pressures and will set the stage for the traditional “Summer Rally” by U.S. equity indices lasting from the last week in June at least to the end of July. Average gain per period for the “Summer Rally” for the S&P 500 Index during the past 20 periods was 3.0%. The trade was profitable in 15 of the past 20 periods.

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June 22nd, 2024

Posted In: Tech Talk

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