{"id":168497,"date":"2023-08-03T02:22:00","date_gmt":"2023-08-03T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=168497"},"modified":"2023-08-03T08:47:38","modified_gmt":"2023-08-03T12:47:38","slug":"tech-talk-for-thursday-august-3rd-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/08\/03\/tech-talk-for-thursday-august-3rd-2023\/","title":{"rendered":"Tech Talk for Thursday August 3rd 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday August 3rd<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 18 points at 8:35 AM EDT<\/em><\/p>\n

Index futures were unchanged following release of U.S. second quarter Non-farm Productivity at 8:30 AM EDT.<\/b> Consensus was an increase of 1.1% versus a drop of 2.1% in the first quarter. Actual was an increase of 3.7%.<\/em><\/p>\n

Bank of England raised its discount rate by 0.25% to 5.25%.<\/em><\/b><\/p>\n

Qualcomm dropped $9.37 to $120.40<\/b> after reporting less than consensus fiscal third quarter revenues and earnings. <\/em><\/p>\n

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

Shopify slipped $0.43 to US$62.00<\/b> despite reporting higher than consensus quarterly revenues and earnings. <\/em><\/p>\n

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

Trip Advisors advanced $0.89 to $18.51<\/b> after reporting higher than consensus second quarter results. <\/em><\/p>\n

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

Etsy dropped $5.82 to 90.25<\/b> despite reporting higher than consensus second quarter results. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cLet the volatility begin<\/strong>\u201d!<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/08\/02\/stock-market-outlook-for-august-3-2023\/<\/em><\/a><\/p>\n

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

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

20+ Treasury Bond iShares $TLT moved below $97.56 and $97.59 setting an intermediate downtrend.<\/p>\n

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Solar ETF $TAN moved below $66.73 extending an intermediate downtrend. <\/p>\n

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

Charter Communications $CHTR a NASDAQ 100 stock moved above $415.29 completing a base building pattern.<\/p>\n

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

Emerson $EMR an S&P 100 stock moved above $93.04 and $98.43 extending an intermediate uptrend. <\/p>\n

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Thomson Reuters $TRI.TO a TSX 60 stock moved above Cdn$182.66 to an all-time high extending an intermediate uptrend. <\/p>\n

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

Rogers Communications $RCI.B.TO a TSX 60 stock moved below Cdn$56.89 and US$42.34 extending an intermediate downtrend.<\/p>\n

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

Brookfield Infrastructure $BIP a TSX 60 stock moved below US$34.77 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 August 2nd<\/sup> 2023<\/p>\n

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

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 August 2nd<\/sup> 2023<\/p>\n

\"clip_image011\"<\/a><\/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 August 2nd<\/sup> 2023 <\/p>\n

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

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

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

 <\/p>\n

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

\"clip_image014\"<\/a><\/p>\n

The intermediate term Barometer plunged 6.20 to 73.40. It remains Overbought. Daily trend is down.<\/p>\n

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

The long term Barometer dropped 2.00 to 70.00. It remains Overbought. Market trend is down. <\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer plunged 9.65 to 55.26. It changed from Overbought to Neutral on a drop below 60.00. Daily trend continued down. <\/p>\n

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

The long term Barometer dropped 5.26 to 52.63. It remains Neutral. Daily trend continued down.<\/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 August 3rd U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points at 8:35 AM EDT Index futures were unchanged following release of U.S. second quarter Non-farm Productivity at 8:30 AM EDT. Consensus was an increase of 1.1% versus a drop of 2.1% in the first […]<\/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-168497","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168497","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=168497"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168497\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=168497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=168497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=168497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}