{"id":168922,"date":"2023-08-18T02:22:00","date_gmt":"2023-08-18T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=168922"},"modified":"2023-08-18T08:54:09","modified_gmt":"2023-08-18T12:54:09","slug":"tech-talk-for-friday-august-18th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/08\/18\/tech-talk-for-friday-august-18th-2023\/","title":{"rendered":"Tech Talk for Friday August 18th 2023"},"content":{"rendered":"

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

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 29 points at 8:30 AM EDT.<\/em><\/p>\n

Applied Materials<\/b> gained $2.41 to $140.00 after reporting higher than consensus fiscal third quarter results. The company also offered positive fourth quarter guidance. <\/em><\/p>\n

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Ross Stores<\/b> added $6.13 to 119.19 after reporting higher than consensus second quarter results. The company also offered positive guidance. Jefferies raised its target price from $105 to $120.<\/em><\/p>\n

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Deere<\/b> dropped $4.29 to $414.87 despite reporting higher than consensus fiscal third quarter revenues and earnings.<\/em><\/p>\n

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Walmar<\/b>t slipped $0.31 to $155.38 despite Raymond James and KeyBanc Capital raising their target price on the stock.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cManufacturer sentiment in Philadelphia has surprisingly flipped to show optimism during this normal retail stocking period ahead of the holiday shopping season<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/08\/17\/stock-market-outlook-for-august-18-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Dow Jones Industrial Average dropped below its 50 day moving average at 34,615.70.<\/p>\n

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Salesforce.com $CRM a Dow Jones Industrial Average stock moved below intermediate support at $205.02<\/p>\n

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Walgreens Boots $WBA a Dow Jones Industrial Average stock moved below $28.14 extending an intermediate downtrend.<\/p>\n

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UnitedHealth Group $UNH a Dow Jones Industrial Average stock moved below $497.28 completing a double top pattern<\/p>\n

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EAFE iShares $EFA moved below intermediate support at $69.94.<\/p>\n

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Nikkei Average moved below 31,791.71 completing a double top pattern.<\/p>\n

Medical Devices iShares $IHI moved below intermediate support at $52.09.<\/p>\n

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Aerospace & Defense ETF $PPA moved below $83.05 completing a double top pattern.<\/p>\n

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Netflix $NFLX a NASDAQ 100 stock moved below $411.88 and $411.40 completing a Head & Shoulders pattern. <\/p>\n

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CVS $CVS an S&P 100 stock moved below $72.61, $66.10 and $65.80 extending an intermediate downtrend.<\/p>\n

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Wheaton Precious Metals $WPM a TSX 60 stock moved below US$41.17 and Franco Nevada $FNV a TSX 60 stock moved below US$135.68 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 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 August 17th<\/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

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

Daily Seasonal\/Technical Sector Trends for August 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

 <\/p>\n

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

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

Are There Broader Problems With FAILED Breakout in Metals? | Market Buzz (08.16.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=x7FDFOqmwzc<\/a><\/p>\n

 <\/p>\n

Sentiment Says Bottom Rapidly Approaching | Tom Bowley<\/font><\/em><\/strong> | Trading Places (08.17.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=sFS6zcY-Z9A<\/a><\/p>\n

 <\/p>\n

What Does Equal-Weight S&P 500 Tell Us About Market Strength? | The Final Bar (08.16.23)<\/p>\n

What Does Equal-Weight S&P 500 Tell Us About Market Strength? | The Final Bar (08.16.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

3 Critical Keys To Multiple Timeframe Trading | Stock Talk (08.17.23)<\/b><\/p>\n

3 Critical Keys To Multiple Timeframe Trading | Stock Talk (08.17.23) \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 plunged 7.00 to 34.40. It changed from Neutral to Oversold on a drop below 40.00. Daily trend remains down.<\/p>\n

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

The long term Barometer dropped 2.40 to 53.60. It remains Neutral. Daily trend remains down.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 4.85 to 37.89. It changed from Neutral to Oversold on a drop below 40.00. Daily trend remains down.<\/p>\n

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The long term Barometer slipped 0.88 to 48.46. It remains Neutral. Daily trend remains 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 Friday August 18th U.S. equity index futures were lower this morning. S&P 500 futures were down 29 points at 8:30 AM EDT. Applied Materials gained $2.41 to $140.00 after reporting higher than consensus fiscal third quarter results. The company also offered positive fourth quarter guidance. Ross Stores added $6.13 to 119.19 after […]<\/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-168922","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168922","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=168922"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/168922\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=168922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=168922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=168922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}