{"id":177770,"date":"2024-07-03T02:22:00","date_gmt":"2024-07-03T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=177770"},"modified":"2024-07-03T08:53:58","modified_gmt":"2024-07-03T12:53:58","slug":"tech-talk-for-wednesday-july-3rd-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/03\/tech-talk-for-wednesday-july-3rd-2024\/","title":{"rendered":"Tech Talk for Wednesday July 3rd 2024"},"content":{"rendered":"

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

Next Tech Talk report is released on Friday.<\/b> U.S. equity markets are closed tomorrow. Trading activity in Canadian equity markets are expected to be low. <\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 7 points at 8:30 AM EDT<\/em><\/p>\n

U.S. equity markets close today at 1:00 PM EDT.<\/em><\/b><\/p>\n

Gold<\/b> gained $30.10 to US$2,363.40 per ounce in overnight trade.<\/em><\/p>\n

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

Eli Lilly<\/b> gained $3.29 to $910.00 after receiving FDA approval for its Alzheimer drug.<\/em><\/p>\n

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Paramount <\/b>added $1.28 to $12.00 after a bid to buy the company by Skydance has been revived. <\/em><\/p>\n

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Tesla<\/b> advanced $2.65 to $233.91after Wedbush raised its target price to $300.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for July 3rd<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

The trend of job openings in the US is reminiscent of the past couple of economic recessions in the US. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/07\/02\/stock-market-outlook-for-july-3-2024\/<\/em><\/a><\/p>\n

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

U.S. equity markets<\/strong><\/font><\/p>\n

Note that trading closes today at 1:00 PM EDT.<\/p>\n

Technical Notes<\/p>\n

Consumer Discretionary SPDRs<\/b> $XLY moved above $184.82 to a 27 month high extending an intermediate uptrend.<\/p>\n

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Solar ETF<\/b> $TAN moved below $38.83 to a four year low extending an intermediate downtrend.<\/p>\n

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Lowe\u2019s <\/b>$LOW an S&P 100 stock moved below $212.78 extending an intermediate downtrend. <\/p>\n

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McDonald\u2019s <\/b>$MCD a Dow Jones Industrial Average stock moved below $247.55 extending an intermediate downtrend.<\/p>\n

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George Weston<\/b> $WN.TO a TSX 60 stock moved above $197.83 to an all-time high extending an intermediate uptrend. <\/p>\n

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BCE<\/b> $BCE.TO a TSX 60 stock moved below $43.02 to a 32 month low extending an intermediate downtrend.<\/p>\n

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Telus<\/b> $T.T0 a TSX 60 stock moved below Cdn$20.17 to a four year low 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 July 2nd<\/sup> 2024 <\/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 July 2nd<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/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 July 2nd<\/sup> 2024<\/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

Market Breadth is Narrowing – Should You Be Worried? Julius de Kempenaer<\/b><\/p>\n

Market Breadth is Narrowing – Should You Be Worried? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

AAPL and TSLA Kick Off Q2 With BREAKOUTS! David Keller<\/b><\/p>\n

AAPL and TSLA Kick Off Q2 With BREAKOUTS! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Market is assigning a higher probability of a Trump election win, says Societe Generale’s Rajappa<\/b><\/p>\n

Market is assigning a higher probability of a Trump election win, says Societe Generale’s Rajappa \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Stocks could rise another 10% after a strong first half history shows: Market Watch<\/b><\/p>\n

https:\/\/www.marketwatch.com\/story\/u-s-stocks-could-rise-another-10-by-the-end-of-2024-after-a-strong-first-half-history-shows-26d53fee?mod=mw_pushly&send_date=20240702<\/a><\/p>\n

 <\/p>\n

Citi says the S&P 500 has more upside in H2 and spotlights sectors it prefers<\/b><\/p>\n

Citi says the S&P 500 has more upside in H2 | Seeking Alpha<\/a><\/p>\n

 <\/p>\n

Chart Check on S&P, Tesla, Homebuilders & Consumer Discretionary: Dan Nathan, Danny Moses and Carter Worth<\/b><\/p>\n

Chart Check on S&P, Tesla, Homebuilders & Consumer Discretionary \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 5.00 to 46.80. It remains Neutral.<\/p>\n

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

The long term Barometer slipped 0.40 to 66.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer advanced 5.75 to 51.77. It remains Neutral. Daily trend is up.<\/p>\n

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

The long term Barometer added 2.21 to 68.58. It remains Overbought. Daily trend is up. <\/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 July 3rd Next Tech Talk report is released on Friday. U.S. equity markets are closed tomorrow. Trading activity in Canadian equity markets are expected to be low. U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points at 8:30 AM EDT U.S. equity markets close today […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-177770","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177770","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=177770"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177770\/revisions"}],"predecessor-version":[{"id":177780,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177770\/revisions\/177780"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=177770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=177770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=177770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}