{"id":157976,"date":"2022-07-28T02:22:00","date_gmt":"2022-07-28T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=157976"},"modified":"2022-07-28T08:42:52","modified_gmt":"2022-07-28T12:42:52","slug":"tech-talk-for-thursday-july-28th-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/07\/28\/tech-talk-for-thursday-july-28th-2022\/","title":{"rendered":"Tech Talk for Thursday July 28th 2022"},"content":{"rendered":"

Pre-opening Comments for Thursday July 28th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 17 points in pre-opening trade. <\/em><\/p>\n

U.S. equity index futures moved lower following first release of the second quarter real GDP report<\/b>. Consensus was an increase of 0.3% versus a drop of 1.6% in the first quarter. Actual was a drop of 0.9%.<\/em><\/p>\n

Ford gained $0.84 to $14.03<\/b> after reporting higher than consensus second quarter revenues and earnings.<\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Best Buy dropped $2.75 to $71.74<\/b> after lowering guidance below consensus. <\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

Etsy added $7.65 to $103.15<\/b> after reporting higher than consensus second quarter earnings. <\/em><\/p>\n

\"clip_image003[1]\"<\/a><\/p>\n

Meta Platforms dropped $5.90 to $163.68<\/b> after reporting less than consensus quarterly results. <\/em><\/p>\n

\"clip_image004[1]\"<\/a><\/p>\n

 <\/p>\n

EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n

Headline reads \u201cConsumer loans are surging as this cohort of the economy seeks to bridge the gap between incomes and spending, typically a precursor event to an economic recession<\/strong>\u201d. Following is a link:<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/07\/27\/stock-market-outlook-for-july-28-2022\/<\/em><\/a><\/p>\n

<\/em><\/p>\n

Responses to the FOMC meeting released yesterday<\/strong><\/font><\/p>\n

Key markets responded as follows after the release at 2:00 PM EDT<\/p>\n

S&P 500 Index rose sharply.<\/p>\n

\"clip_image001\"<\/a><\/p>\n

The technology sensitive NASDAQ Composite Index and related ETFs led the advance.<\/p>\n

\"clip_image002\"<\/a><\/p>\n

The U.S. Dollar Index and related ETF $UUP moved sharply lower.<\/p>\n

\"clip_image003\"<\/a><\/p>\n

Yield on 10 year Treasuries moved lower<\/p>\n

\"clip_image004\"<\/a><\/p>\n

Gold and precious metal prices moved higher<\/p>\n

\"clip_image005\"<\/a><\/p>\n

Ditto for precious metal equities and related ETFs<\/p>\n

\"clip_image006\"<\/a><\/p>\n

 <\/p>\n

Technical Notes for yesterday<\/strong><\/font><\/p>\n

EAFA iShares $EFA moved above intermediate resistance at $64.22. <\/p>\n

\"clip_image007\"<\/a><\/p>\n

Technology stocks and related ETFs led the advance yesterday. Notable breakout by NASDAQ 100 stocks included Synopsys $SNPS on a move above $342.59, ANSYSS $ANSS on a move above $267.11 and Paychex $PAYX on a move above $124.73 and T Mobile on a move above $138.99<\/p>\n

\"clip_image008\"<\/a><\/p>\n

\"clip_image009\"<\/a><\/p>\n

\"clip_image010\"<\/a><\/p>\n

\"clip_image011\"<\/a><\/p>\n

Breakouts by S&P 100 stocks that extended intermediate uptrends included McDonalds $MCD, Mondelez $MDLZ and Union Pacific $UNP<\/p>\n

\"clip_image012\"<\/a><\/p>\n

\"clip_image013\"<\/a><\/p>\n

Bank of Montreal $BMO.TO a TSX 60 stock moved above intermediate resistance at $126.95.<\/p>\n

\"clip_image014\"<\/a><\/p>\n

 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

<\/b><\/p>\n

Equity Indices and Related ETFs<\/font><\/b><\/p>\n

Daily Seasonal\/Technical Equity Trends for July 27th<\/sup> 2022<\/p>\n

\"clip_image016\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n


<\/b><\/p>\n

<\/b><\/p>\n

Commodities<\/font><\/b><\/p>\n

Daily Seasonal\/Technical Commodities Trends for July 27th<\/sup> 2022<\/p>\n

\"clip_image018\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Sectors<\/font><\/b><\/p>\n

Daily Seasonal\/Technical Sector Trends for July 27th<\/sup> 2021 <\/p>\n

\"clip_image020\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day <\/em><\/p>\n

<\/em><\/p>\n

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)<\/em><\/p>\n

 <\/p>\n

Link offered by a valued provider<\/strong><\/font><\/p>\n

Link offered by Mark Bunting<\/strong><\/em><\/font> and www.uncommonsenseinvestor.com<\/a><\/p>\n

Three Mighty Mid-Cap Stocks – Uncommon Sense Investor<\/a><\/p>\n

 <\/p>\n

Next Meeting: <\/strong><\/font><\/p>\n

   Canadian Association for Technical  Analysis <\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Next meeting is tonight. Following are details:
Topic: CATA Meeting July 28 with Jermaine McGruder<\/em><\/strong><\/font>
Time: Jul 28, 2022 08:00 PM Eastern Time (US and Canada)<\/p>\n

More information on CATA and its services is available (including a list of upcoming events) at www.canadianata.ca<\/a><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image021\"<\/a><\/p>\n

The intermediate term Barometer added 13.40 to 67.80 yesterday. It changed from Neutral to Overbought on a move above 60.00. Trend remains up.<\/p>\n

\"clip_image022\"<\/a><\/p>\n

The long term Barometer added 3.80 to 28.20 yesterday. It remains Oversold. Trend remains up.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image023\"<\/a><\/p>\n

The intermediate term Barometer added 7.14 to 43.28 yesterday. It changed from Oversold to Neutral on a move above 40.00. Trend remains up. <\/p>\n

\"clip_image024\"<\/a><\/p>\n

The long term Barometer added 2.52 to 31.51 yesterday. It remains Oversold. Trend remains up.<\/p>\n

 <\/p>\n

Disclaimer:<\/b> Seasonality and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Thursday July 28th U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points in pre-opening trade. U.S. equity index futures moved lower following first release of the second quarter real GDP report. Consensus was an increase of 0.3% versus a drop of 1.6% in the first quarter. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-157976","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/157976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=157976"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/157976\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=157976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=157976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=157976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}