Pre-opening Comments for Tuesday August 30th
U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade.
Best Buy added $1.99 to $75.69 after reporting higher than consensus second quarter earnings.
![clip_image001[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0011-16.png "clip_image001[1]")
Twitter slipped $0.37 to $39.67 after Elon Musk issued a letter to terminate his takeover offer.
![clip_image002[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0021-19.png "clip_image002[1]")
Big Lots added $0.49 to $22.04 after reporting higher than consensus second quarter earnings.
![clip_image003[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0031-15.png "clip_image003[1]")
Bank of Montreal (BMO Cdn$127.77) is expected to open lower after reporting less than consensus fiscal third quarter earnings.
![clip_image004[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0041-15.png "clip_image004[1]")
EquityClock’s Daily Comment
Headline reads “Price of Coffee is breaking out within its optimal seasonal holding period”.
http://www.equityclock.com/2022/08/29/stock-market-outlook-for-august-30-2022/
Technical Notes for yesterday
Pharmaceutical ETF $PPH moved below $71.87 extending an intermediate downtrend.
Johnson & Johnson $JNJ a Dow Jones Industrial Average stock moved below $164.02 extending an intermediate downtrend.
Incyte $INCY a NASDAQ 100 stock moved below $70.76 extending an intermediate downtrend.
Cameco $CCJ a TSX 60 stock moved above intermediate resistance at US$28.28.
Pinduoduo $PDD a NASDAQ 100 stock moved above $68.71 extending an intermediate uptrend.
Brookfield Infrastructure $BIP/UN.TO a TSX 60 stock moved above Cdn$56.57 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 29th 2022 
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 29th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 27th 2021
Green: Increase from previous day
Red: Decrease from previous day
Link offered by a valued provider
Market Watch comment:
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 4.60 to 60.00 yesterday. It remains Overbought. Trend is down.
The long term Barometer slipped 1.40 to 33.20 yesterday. It remains Oversold. Trend is down.
TSX Momentum Barometers
The intermediate term Barometer slipped 1.68 to 65.97 yesterday. It remains Overbought. Trend is down.
The long term Barometer added 0.42 to 37.82 yesterday. It remains Oversold.
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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August 30th, 2022 at 7:12 am
Ron/BC
NTR – 26 Aug – Hip
Sorry to hear about your hip. That is a big decision to get it done privately. I’m very fortunate so far. I’m in Calgary if you need help.
August 30th, 2022 at 1:39 pm
Dave/AB
Well it’s not the cost that bothers me so much as the hassle to get to Calgary in late October when it might even be snowing there. And watching the news the airlines don’t seem to know how to transport people anymore. It might be very painful just getting there. But I have more confidence in private surgery than the public type. They have more to gain and more to lose. And apparently I’ll be able to walk OK the next day after. hmmmmmmmmmmmmmmmm. We’ll see about that I guess. I am still on the wait list here to get it done but won’t count on that as most surgeries are cancelled for a variety of reasons even when booked.(No nurses,no beds and no staff, etc, etc.) I know a sales lady in a furniture store that said she just flies back to India for anything medical with no problems at all. Must be nice. And here I thought India was a backward 3rd world county. But thanks for the offer to help. We’ll see how it goes……………..
August 30th, 2022 at 2:18 pm
The $SPX has sold off 50% of its gains from its mid June to its mid August rally. And its downtrendline is still intact. Not much to cheer about…………….
https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=3&dy=0&id=p78334825947&listNum=1&a=682178007
https://stockcharts.com/freecharts/seasonality.php?symbol=%24SPX