{"id":177974,"date":"2024-07-10T02:22:00","date_gmt":"2024-07-10T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=177974"},"modified":"2024-07-10T09:00:38","modified_gmt":"2024-07-10T13:00:38","slug":"tech-talk-for-wednesday-july-10th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/10\/tech-talk-for-wednesday-july-10th-2024\/","title":{"rendered":"Tech Talk for Wednesday July 10th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday July 10th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 15 points at 8:30 AM EDT. <\/em><\/p>\n

LegalZoom.com<\/b> dropped $0.90 to $6.95 after the company lowered its sales outlook<\/em><\/p>\n

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Cummins<\/b> added $0.32 to $269.00 after the company raised its quarterly dividend. <\/em><\/p>\n

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Taiwan Semiconductor<\/b> added $3.94 to $188.46 after reporting a 40% increase in second quarter revenues. <\/em><\/p>\n

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Spotify <\/b>dropped $4.55 to $307.00 after Redburn Atlantic downgraded the stock to sell.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for July 10th<\/sup> 2024<\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Scrutiny over how Bitcoin and Ethereum reacts to horizontal support is prudent given the threat a breakdown would have on the broader crypto market and risk assets (stocks), overall.<\/em><\/b><\/p>\n

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

See: <\/em><\/b>https:\/\/equityclock.com\/2024\/07\/09\/stock-market-outlook-for-july-10-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Nikkei Average<\/b> moved above 41,100 to a multi-decade high extending an intermediate uptrend. <\/p>\n

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Agriculture ETF<\/b> $MOO moved below $69.68 to a 42 month low extending an intermediate downtrend.<\/p>\n

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Responses to Federal Reserve Chairman Powell\u2019s statements yesterday before the Senate Banking Committee were favourable. Financial Services ETFs<\/b> including XLF, KBE and KRE moved higher. Focus this week is on four money center banks reporting quarterly results on Friday.<\/p>\n

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Semiconductor iShares<\/b> $SOXX moved above $260.65 to an all-time high extending an intermediate uptrend. Triggered by moves by Applied Materials<\/b> $AMAT and KLA Corp<\/b> $KLAC to an all-time high. Responded to target increases yesterday by several U.S. brokers.<\/p>\n

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Vertex Pharmaceutical<\/b> $VRTX a NASDAQ 100 stock moved above $486.42 to an all-time high extending an intermediate uptrend. <\/p>\n

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Lulu Lemon<\/b> $LULU a NASDAQ 100 stock moved below $293.03 extending an intermediate downtrend. <\/p>\n

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Thermo Fisher Scientific<\/b> $TMO an S&P 100 stock moved below $529.28 completing a double top pattern. <\/p>\n

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Dollarama <\/b>$DOL.TO a TSX 60 stock moved above Cdn$129.07 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 July 9th<\/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

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 July 9th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/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 July 9th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/strong><\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

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

Market Foundation Showing CRACKS! (2024): Julius de Kempenaer,<\/b><\/p>\n

Market Foundation Showing CRACKS! (2024) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

AI Stocks in Focus in BlackRock\u2019s 2024 Mid-Year Outlook<\/b><\/p>\n

AI Stocks in Focus in BlackRock\u2019s 2024 Mid-Year Outlook \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Identifying Top Charts with Upside Potential (2024): David Keller<\/b><\/p>\n

Identifying Top Charts with Upside Potential (2024) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

How High Will Stocks Go? Guy Adami, Dan Nathan, Carter Worth<\/b><\/p>\n

How High Will Stocks Go? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Oil sector helped by projects like Trans Mountain expansion: Deloitte<\/b><\/p>\n

Oil sector helped by projects like Trans Mountain expansion: Deloitte \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Hot Picks in energy with Eric Nuttall<\/b><\/p>\n

Hot Picks in energy with Eric Nuttall \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

\u201cNot a Bull Market, a Bifurcated Market<\/em>\u201d | David Rosenberg<\/b><\/p>\n

\u201cNot a Bull Market, a Bifurcated Market\u201d | David Rosenberg \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 1.20 to 45.60. It remains Neutral.<\/p>\n

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The long term Barometer dropped 1.20 to 64.60. It remains Overbought. Daily trend has started to trend down.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 4.87 to 53.10. It remains Neutral. Daily trend has turned down. <\/p>\n

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The long term Barometer dropped 3.98 to 69.03. It remains Overbought.<\/p>\n

<\/b><\/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 10th U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points at 8:30 AM EDT. LegalZoom.com dropped $0.90 to $6.95 after the company lowered its sales outlook Cummins added $0.32 to $269.00 after the company raised its quarterly dividend. Taiwan Semiconductor added $3.94 to $188.46 […]<\/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-177974","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177974","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=177974"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177974\/revisions"}],"predecessor-version":[{"id":177984,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/177974\/revisions\/177984"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=177974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=177974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=177974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}