{"id":168715,"date":"2023-08-11T02:22:00","date_gmt":"2023-08-11T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=168715"},"modified":"2023-08-11T08:55:56","modified_gmt":"2023-08-11T12:55:56","slug":"tech-talk-for-friday-august-11th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/08\/11\/tech-talk-for-friday-august-11th-2023\/","title":{"rendered":"Tech Talk for Friday August 11th 2023"},"content":{"rendered":"

Pre-opening Comments for Friday August 11th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 10 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures dropped 6 points following release of the July Producer Price Index at 8:30 AM EDT<\/b>. Consensus was an increase of 0.2% versus a gain of 0.1% in June. Actual was an increase of 0.3%. On a year-over-year basis consensus was an increase of 0.7% versus a gain of 0.1% in June. Actual was an increase of 0.8% Consensus for core PPI was an increase of 0.2% versus a gain of 0.1% in June. Actual was an increase of 0.2%. On a year-over-year basis, consensus for core PPI was an increase of 2.3% versus a gain of 2.4% in June. Actual was an increase of 2.7%.<\/em><\/p>\n

Air Canada<\/b> is expected to open higher after reporting higher than consensus second quarter revenues and earnings. The company also offered positive guidance. <\/em><\/p>\n

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Spectrum Brands<\/b> added $1.55 to $76.66 after reporting higher than consensus fiscal third quarter earnings. <\/em><\/p>\n

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

Headline reads \u201cThe fact that July\u2019s CPI report completely ignored the 7.2% rise in gasoline prices since the end of June suggests that the aggregate print was a vast under-estimate of the rate of inflation in the economy<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/08\/10\/stock-market-outlook-for-august-11-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Couche Tard $ATD.TO a TSX 60 stock moved above Cdn$68.76 to an all-time high 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 10th <\/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 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 10th<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/b><\/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 August 10th<\/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

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

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

3 reasons why investors should be cautious about July\u2019s \u2018very encouraging\u2019 CPI reading<\/p>\n

https:\/\/www.marketwatch.com\/story\/3-reasons-why-investors-should-be-cautious-about-julys-very-encouraging-cpi-reading-ec669424?mod=home-page<\/a><\/p>\n

 <\/p>\n

Improve Your Trades With These Scanning Strategies | Tom Bowley<\/font><\/em><\/strong> | Trading Places (08.10.23)<\/p>\n

Improve Your Trades With These Scanning Strategies | Tom Bowley | Trading Places (08.10.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Chart of the Day<\/strong><\/font><\/p>\n

Nice technical \u201cbump\u201d in Palladium yesterday! Note technical comment posted on Kitco:<\/p>\n

https:\/\/www.kitco.com\/commentaries\/2023-08-09\/Metals-on-the-Move-unveiling-current-trends-in-copper-and-palladium-markets.html<\/a><\/p>\n

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Seasonal influences normally start to turn higher in mid-August.<\/p>\n

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 <\/p>\n

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

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The intermediate term Barometer slipped 0.20 to 58.60. It remains Neutral. Daily trend remains down.<\/p>\n

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The long term Barometer dropped 1.80 to 63.80. It remains Overbought. Daily trend remains down.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 1.75 to 58.15. It remains Neutral.<\/p>\n

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The long term Barometer added 0.44 to 56.39. It remains Neutral. <\/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 Friday August 11th U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points at 8:35 AM EDT. S&P 500 futures dropped 6 points following release of the July Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.1% in […]<\/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-168715","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168715","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=168715"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168715\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=168715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=168715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=168715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}