Pre-opening Comment for Tuesday July 30^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points at 8:30 AM EDT.

F5 advanced $22.66 to $200.25 after reporting higher than consensus fiscal third quarter earnings. The company also raised fourth quarter guidance.

Symbotic dropped $6.19 to $29.44 after reporting less than consensus fiscal third quarter earnings. The company also lowered fourth quarter guidance.

Merck dropped $2.29 to $125.49 after lowering its 2024 outlook.

Procter & Gamble dropped $5.92 to $164.01 after reporting less than consensus second quarter revenues.

 

EquityClock’s Stock Market Outlook for July 30^th

Major technology benchmarks are testing levels of rising intermediate-term levels of support, presenting the logical point to see a rebound attempted. See:

https://equityclock.com/2024/07/29/stock-market-outlook-for-july-30-2024/

 

Technical Notes

Canadian Dollar $CADUSD moved below US 0.72210 cents extending an intermediate downtrend.

Medical Devices iShares $IHI moved below $54.11 completing a double top pattern.

CVS Health $CVS an S&P 100 stock moved above $61.37 completing a double bottom pattern.

ConocoPhillps $COP an S&P 100 stock moved below $108.48 setting an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 29^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

 

Commodities

Daily Seasonal/Technical Commodities Trends for July 29^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 29^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Link offered by a valued provider

Where Do Markets Go From Here: Guy Adami and Liz Young

Where Do Markets Go From Here? – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 0.20 to 70.00. It remains Overbought.

The long term Barometer slipped 0.60 to 77.20. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer slipped 0.44 to 73.45. It remains Overbought.

The long term Barometer slipped 0.44 to 81.42. It remains Overbought.

 

Disclaimer: Seasonality ratings 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

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