{"id":168458,"date":"2023-08-02T02:22:00","date_gmt":"2023-08-02T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=168458"},"modified":"2023-08-02T08:45:20","modified_gmt":"2023-08-02T12:45:20","slug":"tech-talk-for-wednesday-august-2nd-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/08\/02\/tech-talk-for-wednesday-august-2nd-2023\/","title":{"rendered":"Tech Talk for Wednesday August 2nd 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday August 2nd<\/sup><\/strong><\/font><\/em><\/p>\n

Equity index futures were lower this morning<\/b>. S&P 500 futures were down 26 points at 8:30 AM EDT.<\/em><\/p>\n

Index futures moved lower overnight after Fitch downgraded the U.S. long term credit rating from AAA to AA+<\/em><\/b><\/p>\n

Advanced Micro Devices gained $4.97 to $122.57<\/b> after reporting higher than consensus quarterly results.<\/em><\/p>\n

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Mosaic slipped $0.23 to $40.00<\/b> after reporting lower quarterly revenues and earnings. <\/em><\/p>\n

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Electronic Arts dropped $4.62 to $131.50<\/b> after the company forecast lower than consensus second quarter revenues. <\/em><\/p>\n

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Match advanced $5.01 to $51.16<\/b> after second quarter revenues exceeded consensus. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cConsumer discretionary looking particularly vulnerable in the short-term as the growth trade that has flourished this year takes a pause<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/08\/01\/stock-market-outlook-for-august-2-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

20 year+ Treasury Bond iShares $TLT moved below $98.58 extending an intermediate downtrend. Conversely, 20+ ultrashort Treasury ETF $TBT moved above $32.00 resuming an intermediate uptrend. Units are responding to strength in the U.S. Dollar.<\/p>\n

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The Canadian Dollar moved lower in response to strength in the U.S. Dollar Index and rising U.S. long term rates.<\/p>\n

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Telus $T.TO a TSX 60 stock moved below $23.28 extending an intermediate uptrend.<\/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 August 1st<\/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 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 August 1st<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for August 1st<\/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

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

 <\/p>\n

Breaking Down the Heavy Earnings Week | The Final Bar (07.31.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=zWf5n3wechc<\/a><\/p>\n

 <\/p>\n

Small Caps Clear Key Resistance | Trading Places (08.01.23)<\/p>\n

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

 <\/p>\n

Industrials & Tech Headed to Uncharted Territory | Julius de Kempenaer<\/font><\/em><\/strong> | Sector Spotlight (08.01.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=_Ush3Ws1Ebg<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 2.20 to 79.60. It remains Overbought. Daily down trend was extended.<\/p>\n

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The long term Barometer dropped 2.00 to 72.00. It remains Overbought. Daily down trend was extended.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 6.14 to 64.91. It remains Overbought.<\/p>\n

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The long term Barometer dropped 6.14 to 57.98. It changed from Overbought to Neutral on a drop below 60.00. Daily down trend was extended.<\/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 August 2nd Equity index futures were lower this morning. S&P 500 futures were down 26 points at 8:30 AM EDT. Index futures moved lower overnight after Fitch downgraded the U.S. long term credit rating from AAA to AA+ Advanced Micro Devices gained $4.97 to $122.57 after reporting higher than consensus quarterly […]<\/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-168458","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168458","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=168458"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168458\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=168458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=168458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=168458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}