{"id":167733,"date":"2023-07-12T02:22:00","date_gmt":"2023-07-12T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=167733"},"modified":"2023-07-12T08:58:38","modified_gmt":"2023-07-12T12:58:38","slug":"tech-talk-for-wednesday-july-12th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/07\/12\/tech-talk-for-wednesday-july-12th-2023\/","title":{"rendered":"Tech Talk for Wednesday July 12th 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday July 12th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 32 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures jumped 22 points following release of the U.S. June Consumer Price Index<\/b> at 8:30 AM EDT<\/b> Consensus was an increase of 0.3% versus a gain of 0.1% in May. Actual was an increase of 0.2%. On a year-over-year basis, June CPI was expected to increase 3.1% versus a gain of 4.0% in May. Actual was an increase of 3.0%. Excluding food and energy, June Consumer Price Index was expected to increase 0.3% versus 0.4% in May. Actual was an increase of 0.2%. On a year-over-year basis, Core June CPI was expected to increase 5.0% versus a gain of 5.3% in May. Actual was an increase of 4.8%.<\/em><\/p>\n

Bank of Canada updates monetary policy<\/b> at 10:00 AM EDT on Wednesday. Consensus calls for an increase in the Bank\u2019s rate available for Canada\u2019s major banks from 4.75% to 5.00%.<\/em><\/p>\n

JP Morgan slipped $0.24 to $147.18<\/b> after Citigroup downgraded the stock from Buy to Neutral.<\/em><\/p>\n

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InMode added $1.61 to $42.35<\/b> after the company raised second quarter guidance.<\/em> <\/p>\n

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Raytheon Technologies added $0.07 to $98.11<\/b> after receiving a $5.5 billion contract from the U.S. Air Force.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cThe put-call ratio has fallen to the lowest level since the start of 2022 at the previous market peak<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/07\/11\/stock-market-outlook-for-july-12-2023\/<\/em><\/a><\/p>\n

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

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

Swiss Franc $FXF moved above 100.80 to a two year high reflecting weakness in the U.S. Dollar Index<\/p>\n

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Aerospace & Defense iShares $ITA moved above $117.59 to an all-time high extending an intermediate uptrend. <\/p>\n

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Russell 2000 iShares $IWM moved above $189.24 extending an intermediate uptrend.<\/p>\n

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Booking Holdings $BKNG a NASDAQ 100 stock moved above $2,786.85 to an all-time high extending an intermediate uptrend. <\/p>\n

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O\u2019Reilly Automotive $ORLY moved above $964.58 to an all-time high extending an intermediate uptrend. <\/p>\n

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Caterpillar $CAT a Dow Jones Industrial Average stock moved above $250.89 extending an intermediate uptrend. <\/p>\n

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eBay $EBAY a NASDAQ 100 stock moved above $46.54 extending an intermediate uptrend. <\/p>\n

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Match Group $MTCH a NASDAQ 100 stock moved above $44.50 extending an intermediate uptrend. <\/p>\n

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Electronic Arts $EA a NASDAQ 100 stock moved above $132.91 and $135.02 extending an intermediate uptrend.<\/p>\n

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Activision Blizzard $ATVI a NASDAQ 100 stock moved above $87.01 extending an intermediate uptrend. Received approval for the takeover by Microsoft!<\/p>\n

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Mondelez $MDLZ a NASDAQ 100 stock moved below $71.48 extending an intermediate downtrend.<\/p>\n

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Coca Cola $KO a Dow Jones Industrial Average stock moved below $58.92 setting an intermediate downtrend. <\/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 11th<\/sup> 2023<\/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

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

Daily Seasonal\/Technical Commodities Trends for July 11th<\/sup> 2023<\/p>\n

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

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

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

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

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

Daily Seasonal\/Technical Sector Trends for July 11th<\/sup> 2023 <\/p>\n

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

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

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

 <\/p>\n

Links offered by valued providers<\/strong><\/font><\/p>\n

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

S&P 500 could surge 100 points this week on inflation data, says Fundstrat\u2019s Lee<\/p>\n

https:\/\/www.marketwatch.com\/story\/s-p-500-could-surge-100-points-this-week-on-inflation-data-says-fundstrats-lee-d41063f2?itm_source=parsely-api&mod=mw_pushly&send_date=20230711<\/a><\/p>\n

 <\/p>\n

Screening For The Strongest Oversold Bullish Stocks | Halftime by Chaikin Analytics (07.10.23)<\/p>\n

Screening For The Strongest Oversold Bullish Stocks | Halftime by Chaikin Analytics (07.10.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Is The 10-Year Treasury Yield Topping? | Tom Bowley<\/font><\/em><\/strong> | Trading Places (07.11.23)<\/p>\n

Is The 10-Year Treasury Yield Topping? | Tom Bowley | Trading Places (07.11.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Nasdaq 100 rebalancing will add volatility to tech earnings, KKM’s Jeff Kilburg<\/font><\/em><\/strong><\/p>\n

Nasdaq 100 rebalancing will add volatility to tech earnings, KKM’s Jeff Kilburg \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Jim Grant<\/font><\/em><\/strong> explains why investors may be getting a ‘whiff of stagflation’ following June’s job report<\/p>\n

Jim Grant explains why investors may be getting a ‘whiff of stagflation’ following June’s job report \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Gold Forecast Video for 12.07.23 by Bruce Powers<\/font><\/em><\/strong><\/p>\n

Gold Forecast Video for 12.07.23 by Bruce Powers \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

\"clip_image019\"<\/a><\/p>\n

The intermediate term Barometer gained 5.60 to 79.80. It remains Overbought. Daily trend is up.<\/p>\n

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

The long term Barometer added 3.40 to 70.40. It remains Overbought. Daily trend is up.<\/p>\n

 <\/p>\n

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

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

Intermediate term Barometer added 3.51 to 49.12. It remains Neutral. Daily trend is up.<\/p>\n

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

Long term Barometer slipped 0.88 to 53.07. 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 Wednesday July 12th U.S. equity index futures were higher this morning. S&P 500 futures were up 32 points at 8:35 AM EDT. S&P 500 futures jumped 22 points following release of the U.S. June Consumer Price Index at 8:30 AM EDT Consensus was an increase of 0.3% versus a gain of 0.1% […]<\/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-167733","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167733","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=167733"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167733\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=167733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=167733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=167733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}