{"id":169075,"date":"2023-08-24T02:22:00","date_gmt":"2023-08-24T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=169075"},"modified":"2023-08-24T08:51:18","modified_gmt":"2023-08-24T12:51:18","slug":"tech-talk-for-thursday-august-24th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/08\/24\/tech-talk-for-thursday-august-24th-2023\/","title":{"rendered":"Tech Talk for Thursday August 24th 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday August 24th<\/sup><\/strong><\/font><\/em><\/p>\n

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

U.S. equity indices were unchanged following release of the July Durable Goods Orders report at 8:30 AM EDT.<\/b> Consensus was a drop of 4.0% from June versus a gain of 4.7% in June. Actual was a drop of 5.2%.<\/em><\/p>\n

Focus today and tomorrow is on news from the Jackson Hole symposium<\/b>. Primary topic is on the outlook for the Fed Fund Rate.<\/em><\/p>\n

NVidia<\/b> jumped $38.19 to $509.35 after reporting higher than consensus quarterly results. The company also raised guidance and announced a $25 billion share buyback program.<\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Snowflake<\/b> jumped $10.03 to $165.73 after reporting higher than consensus second quarter revenues and earnings.<\/em><\/p>\n

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Guess<\/b> jumped $2.66 to $20.97 after reporting higher than consensus second quarter revenues.<\/em><\/p>\n

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AutoDesk<\/b> jumped $12.64 to $217.00 after 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 \u201cGauges of consumer health continue to show a concerning path as we near the end of summer<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/08\/23\/stock-market-outlook-for-august-24-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Global X Uranium ETF<\/b> $URA moved above $23.25 extending an intermediate uptrend. <\/p>\n

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Ross Stores<\/b> $ROST a NASDAQ 100 stock moved above $121.66 extending an intermediate uptrend. <\/p>\n

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Starbucks<\/b> $SBUX a Dow Jones Industrial Average stock moved below $95.04 completing a Head & Shoulders pattern.<\/p>\n

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Peloton<\/b> $PTON a NASDAQ 100 stock moved below $6.62 extending an intermediate downtrend.<\/p>\n

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Foot Locker<\/b> $FL plunged following release of less than consensus quarterly results. It also cut its dividend.<\/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 23rd<\/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

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

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

Daily Seasonal\/Technical Commodities Trends for August 23rd<\/sup> 2023<\/p>\n

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<\/b><\/p>\n

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 23rd<\/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

Next CATA Meeting<\/strong><\/font><\/p>\n

Next Canadian Association for Technical Analysis meeting is offered this evening (August 24th<\/sup>)<\/p>\n

At 8:00 PM EDT. Speaker is Pat Walker from www.MissionWinners.com<\/a> Everyone is welcome. Not a member? Contact https:\/\/canadianata.ca\/<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer advanced 6.00 to 37.60. It remains Oversold.<\/p>\n

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

The long term Barometer added 1.60 to 52.00. It remains Neutral.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer advanced 7.49 to 44.05. It changed from Oversold to Neutral on a move above 40.00.<\/p>\n

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

The long term Barometer added 4.41 to 49.34. 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 Thursday August 24th U.S. equity index futures were higher this morning. S&P 500 futures were up 18 points at 8:35 AM EDT U.S. equity indices were unchanged following release of the July Durable Goods Orders report at 8:30 AM EDT. Consensus was a drop of 4.0% from June versus a gain of […]<\/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-169075","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169075","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=169075"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169075\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=169075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=169075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=169075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}