{"id":167978,"date":"2023-07-18T02:22:00","date_gmt":"2023-07-18T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=167978"},"modified":"2023-07-18T09:03:19","modified_gmt":"2023-07-18T13:03:19","slug":"tech-talk-for-tuesday-july-18th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/07\/18\/tech-talk-for-tuesday-july-18th-2023\/","title":{"rendered":"Tech Talk for Tuesday July 18th 2023"},"content":{"rendered":"

Pre-opening Comments for Tuesday July 18th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 3 points at 8:35 AM EDT<\/em><\/p>\n

Index futures were unchanged following release of June U.S. Retail Sales at 8:30 AM EDT. <\/b>Consensus was a gain of 0.2% versus a gain of 0.3% in May. Actual was a gain of 0.2%.<\/em><\/p>\n

The Canadian Dollar<\/b> was unchanged at US75.82 cents following release of Canada\u2019s June Consumer Price Index at 8:30 AM EDT. Consensus was a year-over-year increase of 2.9% versus a gain of 3.7% in May. Actual was an increase of 2.8%.<\/em><\/p>\n

Shopify <\/b>dropped $0.66 to US$68.02 after Evercore downgraded the stock from Outperform to In Line. <\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Bank of America<\/b> added $0.22 to $29.62 after reporting higher than consensus second quarter revenues and earnings.<\/em><\/p>\n

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PNC Financial<\/b> dropped $3.66 to $123.50 after reporting lower than consensus second quarter revenues. <\/em><\/p>\n

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Bank of New York Mellon<\/b> gained $1.01 to $43.54 after reporting higher than consensus second quarter revenues and earnings. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cThe below average trend of manufacturer sentiment readings continues into July, suggesting weaker than normal activity at this time of year that typically sees factories shutdown\/re-tool<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/07\/17\/stock-market-outlook-for-july-18-2023\/<\/em><\/a><\/p>\n

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

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

Dow Jones Industrial Average SPDRs<\/b> $DIA moved above $345.73 and $346.22 extending an intermediate uptrend.<\/p>\n

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Lockheed Martin<\/b> $LMT an S&P 100 stock moved above $467.17 resuming an intermediate uptrend. <\/p>\n

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Zoom<\/b> $ZM a NASDAQ 100 stock moved above $71.99 completing a double bottom pattern.<\/p>\n

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Intuit<\/b> $INTU a NASDAQ 100 stock moved above $487.20 resuming an intermediate uptrend. <\/p>\n

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Vertex Pharma<\/b> $VRTX a NASDAQ 100 stock moved above $354.46 extending an intermediate uptrend. <\/p>\n

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Toronto Dominion Bank<\/b> $TD.TO a TSX 60 stock moved above Cdn$83.14 resuming an intermediate uptrend.<\/p>\n

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Bausch Health<\/b> $BHC.TO a TSX 60 stock moved above Cdn$12.09 resuming an intermediate uptrend. <\/p>\n

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Walt Disney<\/b> $DIS a Dow Jones Industrial Average stock moved below $87.01 extending an intermediate downtrend. <\/p>\n

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Verizon<\/b> $VZ a Dow Jones Industrial Average stock moved below $33.13 extending an intermediate downtrend.<\/p>\n

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Merck<\/b> $MRK a Dow Jones Industrial Average stock moved below $106.16 completing a double top pattern.<\/p>\n

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TC Energy<\/b> $TRP a TSX 60 stock moved below Cdn$50.89 extending 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 17th<\/sup> 2023<\/p>\n

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

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

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for July 17th<\/sup> 2023<\/p>\n

\"clip_image015\"<\/a><\/b> <\/b><\/p>\n

Green: Increase from previous day<\/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 17th<\/sup> 2023 <\/p>\n

\"clip_image017\"<\/a><\/p>\n

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

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

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

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

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

Sprott Gold Report Gold vs. Gold Stocks, An Unresolved Incongruity<\/p>\n

Sprott Gold Monthly: Gold vs. Gold Stocks, An Unresolved Incongruity<\/a><\/p>\n

 <\/p>\n

Can The Markets Continue Higher On Low Inflation Numbers? | The MEM Edge (07.14.23)<\/p>\n

Can The Markets Continue Higher On Low Inflation Numbers? | The MEM Edge (07.14.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

As Inflation Winds Down Markets Are Behaving | TG Watkins<\/font><\/em><\/strong> | Your Daily Five<\/p>\n

As Inflation Winds Down Markets Are Behaving | TG Watkins | Your Daily Five (07.23.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer slipped 1.80 to 81.40. It remains Overbought.<\/p>\n

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

The long term Barometer slipped 0.20 to 69.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 3,51 to 60.53. It remains Overbought.<\/p>\n

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

The long term Barometer added 0.44 to 59.21. It remains Neutral. Daily trend is up.<\/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 July 18th U.S. equity index futures were lower this morning. S&P 500 futures were down 3 points at 8:35 AM EDT Index futures were unchanged following release of June U.S. Retail Sales at 8:30 AM EDT. Consensus was a gain of 0.2% versus a gain of 0.3% in May. Actual was […]<\/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-167978","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167978","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=167978"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/167978\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=167978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=167978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=167978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}