{"id":167563,"date":"2023-07-06T02:22:00","date_gmt":"2023-07-06T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=167563"},"modified":"2023-07-06T09:04:55","modified_gmt":"2023-07-06T13:04:55","slug":"tech-talk-for-thursday-july-6th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/07\/06\/tech-talk-for-thursday-july-6th-2023\/","title":{"rendered":"Tech Talk for Thursday July 6th 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday July 6th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 36 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures dropped 8 points following release of the May U.S. Trade Report at 8:30 AM EDT. <\/b>Consensus was a deficit of $69.80 billion versus a deficit of $74.60 billion in April. Actual was a deficit of $69.00 billion.<\/b><\/em><\/p>\n

June ISM Non-manufacturing ISM PMI<\/b> is released at 10:00 AM EDT. Consensus is an increase to 50.5 from 50.3 in May.<\/em><\/p>\n

The Canadian Dollar was virtually unchanged at US78.10 cents following release of Canada\u2019s May Merchandise Trade report<\/b> at 8:30 AM EDT<\/b>. Consensus was a deficit of $1.2 billion versus a surplus of $1.94 billion in April. Actual was a deficit of 3.44 billion, largest monthly loss since 2020. <\/em><\/p>\n

Bank of America added $0.08 to $29.16<\/b> after announcing plans to increase its dividend by 9%.<\/em><\/p>\n

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Meta Platforms gained $3.03 to $297.40<\/b> after announcing launch of Thread, a competitor to Twitter.<\/em><\/p>\n

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Exxon Mobil dropped $0.91 to $106.00<\/b> after announcing that natural gas prices likely will drag down second quarter profits. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cREITs are finally moving beyond declining trendline resistance as the second period of strength for the sector gets underway<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/07\/05\/stock-market-outlook-for-july-6-2023\/<\/em><\/a><\/p>\n

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

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

7-10 Year Treasury Bond iShares $IEF moved below $95.93 extending an intermediate downtrend. Anticipation of another increase in the Fed Fund Rate on July 28th <\/sup>!<\/p>\n

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AT&T $T an S&P 100 stock moved above $16.13 completing a double bottom pattern.<\/p>\n

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 <\/p>\n

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

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

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

Daily Seasonal\/Technical Equity Trends for July 5th<\/sup> 2023<\/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

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

Daily Seasonal\/Technical Commodities Trends for July 5th<\/sup> 2023<\/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 July 5th<\/sup> 2023 <\/p>\n

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

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

Source for positive seasonal ratings: <\/em>www.equityclock.com<\/em><\/a><\/p>\n

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

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

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The intermediate term Barometer slipped 1.00 to 77.20. It remains Overbought.<\/p>\n

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The long term Barometer slipped 1.00 to 67.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 1.75 to 48.68. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.44 to 55.26. It remains Neutral.<\/p>\n

<\/b><\/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 Thursday July 6th U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points at 8:35 AM EDT. S&P 500 futures dropped 8 points following release of the May U.S. Trade Report at 8:30 AM EDT. Consensus was a deficit of $69.80 billion versus a deficit of $74.60 […]<\/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-167563","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167563","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=167563"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167563\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=167563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=167563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=167563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}