Pre-opening Comments for Tuesday July 25^th 2023

U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points at 8:30 AM EDT.

Whirlpool dropped $2.26 to $148.50 despite reporting higher than consensus second quarter earnings. The company reported less than consensus second quarter revenues.

NXP Semiconductors added $2.72 to $213.60 after reporting higher than consensus second quarter revenues and earnings.

F5 Inc advanced $12.41 to $162.62 after reporting higher than consensus fiscal third quarter results.

Clevland Cliffs slipped $0.10 to $16.41 after reporting less than consensus second quarter earnings.

 

EquityClock’s Daily Comment

Headline reads “The market is finding new places to rotate to now that the growth trade that has flourished this year is showing waning upside momentum”.

http://www.equityclock.com/2023/07/24/stock-market-outlook-for-july-25-2023/

 

Technical Notes

Oil Services ETF $OIH moved above $336.30 extending an intermediate uptrend.

Soybean ETN $SOYB moved above $29.25 to an all-time high extending an intermediate uptrend.

Brazil iShares EWZ moved above $33.25 extending an intermediate uptrend.

Vale $VALE moved above $14.55 completing a reverse Head & Shoulders pattern

Wal-Mart $WMT a Dow Jones Industrial Average stock moved above $159.12 to an all-time high extending an intermediate uptrend.

MetLife $MET an S&P 100 stock moved above intermediate resistance at $61.41.

Union Pacific $UNP an S&P 100 stock moved above $217.40 extending an intermediate uptrend.

Sun Life Financial $SLF.TO a TSX 60 stock moved above Cdn$69.18 and Cdn$69.48 to an all-time high extending an intermediate uptrend.

Pembina Pipeline $PPL.TO a TSX 60 stock moved above Cdn$41.89 completing a double bottom pattern.

Imperial Oil $IMO.TO a TSX 60 stock moved above Cdn$68.75 extending an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 24^th 2023

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 24^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for July 24^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.60 to 89.60. It remains Overbought. Daily trend remains up.

The long term Barometer added 0.60 to 75.60. It remains Overbought. Daily trend remains up.

 

TSX Momentum Barometers

The intermediate term Barometer slipped 0.88 to 70.61. It remains Overbought.

The long term Barometer slipped 0.44 to 62.28. 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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