{"id":169040,"date":"2023-08-23T02:22:00","date_gmt":"2023-08-23T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=169040"},"modified":"2023-08-23T08:49:05","modified_gmt":"2023-08-23T12:49:05","slug":"tech-talk-for-wednesday-august-23rd-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/08\/23\/tech-talk-for-wednesday-august-23rd-2023\/","title":{"rendered":"Tech Talk for Wednesday August 23rd 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday August 23rd<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 3 points at 8:30 AM EDT<\/em><\/p>\n

The Canadian Dollar was unchanged at US73.60 cents following release of Canada\u2019s June Retail Sales<\/b> at 8:30 AM EDT. Consensus was unchanged from May. Actual was an increase of 0.1%.<\/em><\/p>\n

Toll Brothers<\/b> gained $0.66 to $76.70 after reporting higher than consensus fiscal third quarter earnings. The company also raised guidance. <\/em><\/p>\n

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Urban Outfitters<\/b> added $1.16 to $35.25 after reporting higher than consensus second quarter revenues. <\/em><\/p>\n

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Foot Locker<\/b> dropped $7.21 to $16.00 after reporting less than consensus quarterly results. The company also lowered guidance and cut its dividend. <\/em><\/p>\n

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Peloton<\/b> plunged $1.86 to $5.11 after reporting less than consensus fiscal fourth quarter results. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cRatio of bonds over stocks reaching an interesting juncture, one that could be signaling a notable peak in the equity market<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/08\/23\/stock-market-outlook-for-august-23-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Solar ETF $TAN moved below $55.54 extending an intermediate downtrend.<\/p>\n

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Nike $NKE a Dow Jones Industrial Average stock moved below $102.56 extending an intermediate downtrend.<\/p>\n

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Citigroup $C an S&P 100 stock moved below $41.08 extending an intermediate downtrend.<\/p>\n

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Target $TGT an S&P 100 stock moved below $124.02 extending an intermediate downtrend. <\/p>\n

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Scotia Bank $BNS.TO a TSX 60 stock moved below Cdn$62.20 andCdn$61.88 extending an intermediate downtrend.<\/p>\n

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Loblaw Companies $L.TO a TSX 60 stock moved below Cdn$114.64 setting 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 22nd<\/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 22nd<\/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

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

Daily Seasonal\/Technical Sector Trends for August 22nd<\/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<\/strong><\/font><\/p>\n

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

Wall Street firm cuts S&P 500 target. What Seaport says could go wrong by end of 2023<\/p>\n

https:\/\/www.marketwatch.com\/story\/wall-street-firm-cuts-s-p-500-target-what-seaport-says-could-go-wrong-by-end-of-2023-df60ffc?mod=mw_pushly&send_date=20230822<\/a><\/p>\n

 <\/p>\n

This Powerful Use of RRG Will Make Your Head Spin | Julius de Kempenaer<\/font><\/em><\/strong> | Sector Spotlight (8.21.23)<\/p>\n

This Powerful Use of RRG Will Make Your Head Spin | Julius de Kempenaer | Sector Spotlight (8.21.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Stock Reversals are EVERYWHERE! | Tom Bowley<\/font><\/em><\/strong> | Trading Places (08.22.23)<\/p>\n

Stock Reversals are EVERYWHERE! | Tom Bowley | Trading Places (08.22.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Is the S&P 500 Ready to Breakout? | Joe Rabil<\/font><\/em><\/strong> | Your Daily Five (08.22.23) YD5<\/p>\n

Is the S&P 500 Ready to Breakout? | Joe Rabil | Your Daily Five (08.22.23) YD5 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

I think we will get to a 9% in market correction, says Worth Charting’s Carter Worth<\/p>\n

I think we will get to a 9% in market correction, says Worth Charting’s Carter Worth \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped another 3.60 to 31.60\/ It remains Oversold. Daily trend is down.<\/p>\n

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The long term Barometer dropped another 2.80 to 50.40. It remains Neutral. Daily trend remains down.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer slipped 1.32 to 36.56. It remains Oversold. Daily trend remains down. <\/p>\n

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

The long term Barometer dropped another 1.32 to 44.93. 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 Wednesday August 23rd U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points at 8:30 AM EDT The Canadian Dollar was unchanged at US73.60 cents following release of Canada\u2019s June Retail Sales at 8:30 AM EDT. Consensus was unchanged from May. Actual was an increase of 0.1%. […]<\/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-169040","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169040","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=169040"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169040\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=169040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=169040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=169040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}