{"id":158564,"date":"2022-08-16T02:22:00","date_gmt":"2022-08-16T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=158564"},"modified":"2022-08-16T08:49:07","modified_gmt":"2022-08-16T12:49:07","slug":"tech-talk-for-tuesday-august-16th-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/08\/16\/tech-talk-for-tuesday-august-16th-2022\/","title":{"rendered":"Tech Talk for Tuesday August 16th 2022"},"content":{"rendered":"

Pre-opening Comments for Tuesday August 16th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 4 points in pre-opening trade.<\/em><\/p>\n

Index futures were virtually unchanged following release of the July U.S. Housing Start report at 8:30 AM EDT.<\/b> Consensus was a decline of 2.5% from June. Actual was drop of 9.6%.<\/em><\/p>\n

The Canadian Dollar was virtually unchanged at US77.49 cents following release of Canada\u2019s July Consumer Price Index at 8:30 AM EDT.<\/b> Consensus on a year-over-year basis was an increase of 7.6% versus a gain of 8.1% in June. Actual was an increase of 7.6%.<\/em><\/p>\n

Electronic Arts added $1.40 to $133.00<\/b> after the company announced a $2.6 billion share buyback program.<\/em><\/p>\n

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

Walmart added $4.30 to 136.90<\/b> after reporting higher than consensus second quarter results.<\/em><\/p>\n

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Home Depot dropped $1.86 to $312.75<\/b> despite reporting higher than consensus second quarter revenues and earnings. The company also lowered guidance. <\/em><\/p>\n

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Target gained $2.95 to $176.34<\/b> after reporting higher than consensus second quarter results. <\/em><\/p>\n

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 <\/p>\n

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

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

Headline reads \u201cWhile the technicals are suggesting a shift of trend in the market, the fundamentals point to the fact that the economy has yet to do the same<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/08\/15\/stock-market-outlook-for-august-16-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Financial SPDRs $XLF moved above $35.56 extending an intermediate uptrend<\/p>\n

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Healthcare SPDRs $XLV moved above $133.49 and $133.80 extending an intermediate uptrend. <\/p>\n

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Gilead $GILD a NASDAQ 100 stock moved above $64.65 extending an intermediate uptrend. <\/p>\n

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Biogen $BIIB a NASDAQ 100 stock moved above $220.20 extending an intermediate uptrend. <\/p>\n

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Abbott Labs $ABT an S&P 100 stock moved above $112.00 extending an intermediate uptrend.<\/p>\n

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Procter & Gamble $PG a Dow Jones Industrial Average stock moved above $148.01 extending an intermediate uptrend. <\/p>\n

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Berkshire Hathaway $BRK.B an S&P 100 stock moved above $302.30 extending an intermediate uptrend. <\/p>\n

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Lockheed Martin $LMT an S&P 100 stock moved above intermediate resistance at $434.96<\/p>\n

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Danaher $DHR an S&P 100 stock moved above $302.81 extending an intermediate uptrend.<\/p>\n

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Cadence Design Systems $CDNS a NASDAQ 100 stock moved above $192.70 to an all-time high extending an intermediate uptrend.<\/p>\n

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Xcel Energy $XEL a NASDAQ 100 stock moved above $76.08 to an all-time high extending an intermediate uptrend. <\/p>\n

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Horizons Medical Marijuana ETF $HMMJ.TO moved above $7.66 and $7.79 completing an intermediate base building pattern<\/p>\n

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Canopy Growth $WEED.TO a TSX 60 stock moved above $4.95 extending an intermediate uptrend. <\/p>\n

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 <\/p>\n

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

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

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

Daily Seasonal\/Technical Equity Trends for August 15th 2022<\/p>\n

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

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

*Relative to the S&P 500<\/em><\/p>\n

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for August 15th 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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for August 15th 2021 <\/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

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

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

Equity value through resistance, Dollar now a \u201cNo Go\u201d: Bullish for the S&P 500<\/p>\n

https:\/\/www.youtube.com\/watch?v=r0RJo-tVCAY<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer slipped 1.40 to 91.00 yesterday. It remains Overbought.<\/p>\n

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

The long term Barometer added 0.80 to 48.80 yesterday. It remains Neutral. <\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer slipped 1.26 to 73.95% yesterday. It remains Overbought.<\/p>\n

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

The long term Barometer eased 1.26 to 45.80 yesterday. It remains Neutral. <\/p>\n

 <\/p>\n

Disclaimer:<\/b> Seasonality ratings 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 Tuesday August 16th U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points in pre-opening trade. Index futures were virtually unchanged following release of the July U.S. Housing Start report at 8:30 AM EDT. Consensus was a decline of 2.5% from June. Actual was drop of 9.6%. […]<\/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-158564","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/158564","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=158564"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/158564\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=158564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=158564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=158564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}