{"id":168313,"date":"2023-07-27T08:51:19","date_gmt":"2023-07-27T12:51:19","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=168313"},"modified":"2023-07-27T08:51:19","modified_gmt":"2023-07-27T12:51:19","slug":"tech-talk-for-thursday-july-27th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/07\/27\/tech-talk-for-thursday-july-27th-2023\/","title":{"rendered":"Tech Talk for Thursday July 27th 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday July 27th<\/sup><\/strong><\/font><\/em><\/p>\n

Equity index futures were higher this morning<\/b>. S&P 500 futures added 36 points at 8:35 AM.<\/em><\/p>\n

S&P 500 futures added 4 points following release of economic news at 8:30 AM EDT:<\/em><\/b><\/p>\n

June Durable Goods Orders<\/b> were expected to increase 1.0% versus a gain of 1.7% in May. Actual was an increase of 4.7%. Excluding Transportation<\/b>, June Durable Goods Orders were expected to slip 0.1% versus a gain of 0.6% in May. Actual was a gain of 0.6%.<\/em><\/p>\n

Second quarter real GDP<\/b> was expected to increase 1.8% versus a gain of 2.0% in the first quarter. Actual was an increase of 2.4%.<\/em><\/p>\n

Meta Platforms<\/b> advanced $14.19 to $312.70 after reporting higher than consensus second quarter results. <\/em><\/p>\n

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

Lam Research<\/b> added $15.48 to $657.85 after reporting higher than consensus fiscal fourth quarter results.<\/em><\/p>\n

\"clip_image002[5]\"<\/a><\/p>\n

Mattel<\/b> slipped $0.40 to $20.92 despite reporting higher than consensus second quarter results.<\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

Chipotle<\/b> dropped $169.86 to $1916.00 despite reporting higher second quarter results. Results were less than consensus. <\/em><\/p>\n

\"clip_image004[5]\"<\/a><\/p>\n

 <\/p>\n

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

Headline reads \u201cThe Dow Jones Industrial Average just clocked in its 13th consecutive days of gains, the longest stretch since 1987<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/07\/26\/stock-market-outlook-for-july-27-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

Responses to the FOMC announcement at 2:00 PM EDT<\/strong><\/font><\/p>\n

The Fed Fund Rate was increased another 0.25% to 5.25%-5.50% as anticipated. Monetary policy remains tight.<\/p>\n

S&P 500 initially moved higher after 2:00 PM EDT, but closed slightly higher<\/p>\n

\"clip_image001\"<\/a><\/p>\n

Yield on 10 year Treasuries plunged<\/p>\n

\"clip_image002\"<\/a><\/p>\n

The U.S. Dollar and its related ETN: UUP plunged.<\/p>\n

\"clip_image003\"<\/a><\/p>\n

Gold bullion in U.S. Dollars moved higher<\/p>\n

\"clip_image004\"<\/a><\/p>\n

U.S. Gold equity ETFs (GDX and GDXJ) recovered <\/p>\n

\"clip_image005\"<\/a><\/p>\n

The Canadian Dollar relative to the U.S. Dollar recovered.<\/p>\n

\"clip_image006\"<\/a><\/p>\n

 <\/p>\n

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

Boeing $BA an S&P 100 stock moved above $223.91 to an 18 month high extending an intermediate uptrend. <\/p>\n

\"clip_image007\"<\/a><\/p>\n

Union Pacific $UNP an S&P 100 stock moved above $217.40 and $236.32 extending an intermediate uptrend. <\/p>\n

\"clip_image008\"<\/a><\/p>\n

Alphabet $GOOG and $GOOGL a NASDAQ 100 stock moved above $129.55 and $129.04 respectively to a 15 month high extending an intermediate uptrend. <\/p>\n

\"clip_image009\"<\/a><\/p>\n

\"clip_image010\"<\/a><\/p>\n

PDD Holdings a NASDAQ 100 stock moved above $83.40 resuming an intermediate uptrend. <\/p>\n

\"clip_image011\"<\/a><\/p>\n

Rogers Communications $RCI a TSX 60 stock moved above intermediate resistance at US$46.26 and Cdn$61.35.<\/p>\n

\"clip_image012\"<\/a><\/p>\n

CGI Group $GIB a TSX 60 stock moved below US$100.73, $US100.97 and Cdn$133.10 setting an intermediate downtrend.<\/p>\n

\"clip_image013\"<\/a><\/p>\n

 <\/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 26th<\/sup> 2023<\/p>\n

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

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

Red: Decrease from previous day<\/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 26th<\/sup> 2023<\/p>\n

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

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 26th<\/sup> 2023 <\/p>\n

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

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

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

 <\/p>\n

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

 <\/p>\n

Sprott Update on Gold, Uranium and Battery Metals<\/p>\n

Video – Sprott Update on Gold, Uranium and Battery Metals – CEO John Ciampaglia<\/a><\/p>\n

 <\/p>\n

Raw Materials On A Bullish Trajectory | Your Daily Five (07.26.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=da3gVQw8z1c<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term momentum Barometer slipped 0.20 to 87.20. It remains Overbought.<\/p>\n

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

The long term momentum Barometer added 0.20 to 76.20. It remains Overbought. Daily trend remains up.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 2.19 to 71.93. It remains Overbought.<\/p>\n

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

The long term Barometer added 0.44 to 64.91. It remains Overbought. Daily trend remains 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 Thursday July 27th Equity index futures were higher this morning. S&P 500 futures added 36 points at 8:35 AM. S&P 500 futures added 4 points following release of economic news at 8:30 AM EDT: June Durable Goods Orders were expected to increase 1.0% versus a gain of 1.7% 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-168313","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168313","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=168313"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168313\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=168313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=168313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=168313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}