{"id":158031,"date":"2022-07-29T02:22:00","date_gmt":"2022-07-29T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=158031"},"modified":"2022-07-29T08:50:22","modified_gmt":"2022-07-29T12:50:22","slug":"tech-talk-for-friday-july-29th-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/07\/29\/tech-talk-for-friday-july-29th-2022\/","title":{"rendered":"Tech Talk for Friday July 29th 2022"},"content":{"rendered":"

Pre-opening Comments for Friday July 29th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 20 points in pre-opening trade.<\/em><\/p>\n

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT.<\/b> Consensus for June PCE Price Index was 6.6% versus 6.3% in May. Actual was 6.8%. Excluding food and energy, consensus was unchanged from May on a year-over-year basis at 4.7%. Actual was 4.8%. Consensus for June Personal Income was an increase of 0.5% versus a gain of 0.5% in May. Actual was.an increase of 0.6%. Consensus for June Personal Spending was an increase of 0.9% versus a gain of 0.2% in May. Actual was an increase of 1.6%.<\/em><\/p>\n

The Canadian Dollar was virtually unchanged at<\/b> US77.83 cents following release of Canada\u2019s May GDP at 8:30 AM EDT. Consensus was a drop of 0.2% versus a gain of 0.3% in April. Actual was unchanged from May.<\/em><\/p>\n

Amazon gained $14.80 to $137.00<\/b> after reporting higher than consensus quarterly revenues. <\/em><\/p>\n

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Intel dropped $3.19 to $36.52 <\/b>after reporting less than consensus second quarter results.<\/em><\/p>\n

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Apple advanced $4.40 to $161.75<\/b> after reporting higher than consensus third quarter revenues and earnings.<\/em><\/p>\n

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

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Headline reads \u201cClean energy stocks breaking out, benefitting our model portfolio<\/strong>\u201d. Following is the link:<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/07\/28\/stock-market-outlook-for-july-29-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

 <\/p>\n

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

Solar ETF $TAN moved above $80.52 resuming an intermediate uptrend. Responded to improving chance for passage of a Congressional bill supporting greater solar energy construction and development.<\/p>\n

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Utilities SPDRs $XLU moved above $71.96 resuming an intermediate uptrend. <\/p>\n

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Consumer Staples SPDRs $XLP moved above $74.44 completing an intermediate base building pattern.<\/p>\n

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Healthcare SPDRs $XLV moved above $133.49 completing a reverse Head & Shoulders pattern.<\/p>\n

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Home Builders SPDRs $XHB moved above $63.21 extending an intermediate uptrend.<\/p>\n

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Water Resources ETF $PHO moved above $50.48 extending an intermediate uptrend.<\/p>\n

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More Dow Jones Industrial Average stocks breaking intermediate resistance!<\/p>\n

Microsoft $MSFT moved above $269.05 completing a double bottom pattern. Procter & Gamble $PG) moved above $146.54 completing a reverse Head & Shoulders pattern. Goldman Sachs $GS moved above $329.72 extending an intermediate uptrend.<\/p>\n

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More S&P 100 stocks breaking intermediate resistance! Keurig Dr. Pepper $KDP moved above $37.12 extending an intermediate uptrend. Blackrock $BLK moved above $652.75 completing a double bottom pattern. Ford $F moved above $13.97 extending an intermediate uptrend. Exelon $EXC moved above $64.62 resuming an intermediate uptrend. <\/p>\n

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More NASDAQ 100 stocks breaking intermediate resistance! Intuitive Surgical $ISRG moved above intermediate resistance at $230.00. Fiserv $FiSV moved above $110.99 extending an intermediate uptrend. Paychex $PAYX moved above 127.45 extending an intermediate uptrend. Paccar moved above $89.88 extending an intermediate uptrend. <\/p>\n

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TSX 60 stocks caught the \u201cbreakout wave\u201d from U.S. equity markets.<\/p>\n

Dollarama $DOL.TO moved above $78.41 to an all-time high extending an intermediate uptrend. Commerce Bank $CM.TO moved above intermediate resistance at $63.93. BCE $BCE moved above $64.62 setting an intermediate uptrend. Waste Connection $WCN.TO a TSX 60 stock moved above $11.90 extending an intermediate uptrend.<\/p>\n

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Bausch Health $BHC.TO moved below $8.41 extending an intermediate downtrend.<\/p>\n

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 <\/p>\n

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

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

Daily Seasonal\/Technical Equity Trends for July 28th<\/sup> 2022<\/p>\n

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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 28th<\/sup> 2022<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for July 28th<\/sup> 2021 <\/p>\n

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

Red: Decrease from previous day<\/font><\/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

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Links from valued providers<\/strong><\/font><\/p>\n

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

Greg Schnell<\/font><\/em><\/strong> discusses \u201cScanning stocks for strength<\/strong><\/em><\/font>\u201d<\/p>\n

Scanning Stocks For Strength | Greg Schnell, CMT | Market Buzz (07.27.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Tom Bowley<\/em><\/strong><\/font> says \u201cSecular bull market underway again<\/em><\/strong><\/font>\u201d<\/p>\n

https:\/\/www.youtube.com\/watch?v=zzEbbEHLfJ4<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added another 6.60 to 74.40 yesterday. It remains Overbought. Trend remains up.<\/p>\n

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The long term Barometer added 6.40 to 34.60 yesterday. It remains Oversold. Trend remains up.<\/p>\n

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

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The intermediate term Barometer jumped 9.24 to 52.52 yesterday. It remains Neutral. Trend remains up.<\/p>\n

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The long term Barometer added 4.62 to 36.13 yesterday. It remains Oversold. Trend remains up.<\/p>\n

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Editor\u2019s Note<\/strong><\/font><\/em><\/p>\n

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

Even though a Civic Holiday on Monday, Tech Talk will appear as usual.  <\/font><\/em><\/p>\n

<\/font><\/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 Friday July 29th U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for June PCE Price Index was 6.6% versus 6.3% in May. Actual was 6.8%. Excluding food […]<\/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-158031","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/158031","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=158031"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/158031\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=158031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=158031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=158031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}