{"id":178064,"date":"2024-07-12T02:22:00","date_gmt":"2024-07-12T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178064"},"modified":"2024-07-12T09:02:49","modified_gmt":"2024-07-12T13:02:49","slug":"tech-talk-for-friday-july-12th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/12\/tech-talk-for-friday-july-12th-2024\/","title":{"rendered":"Tech Talk for Friday July 12th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday July 12th<\/sup><\/strong><\/font><\/em><\/p>\n

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

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

S&P 500 futures were unchanged following release of the June U.S. Producer Price Index<\/b> at 8:30 AM EDT. Consensus was an increase 0.1% versus downwardly revised unchanged in May. Actual was an increase of 0.2%. On a year-over-year basis, June PPI was expected to increase 2.3% versus a gain of 2.1% in May. Actual was an increase of 2.6%. Excluding food and energy, June PPI was expected to increase 0.2% versus unchanged in May. Actual was an increase of 0.4%. On a year-over-year basis, core PPI was expected to increase 2.5% versus a gain of 2.3% in May. Actual was a gain of 3.0%.<\/em><\/p>\n

Tesla<\/b> dropped $2.97 to $238.05 after the company delayed launch of its driverless system from August to October. UBS downgraded the stock.<\/em><\/p>\n

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

Wells Fargo<\/b> dropped $3.42 to $56.74 after second quarter earnings came in less than consensus. <\/em><\/p>\n

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

Bank of New York Mellon<\/b> added $0.41 to $61.88 after reporting higher than consensus second quarter revenues and earnings. <\/em><\/p>\n

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

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

EquityClock\u2019s Stock Market Outlook for July 12th<\/sup><\/strong><\/font><\/em><\/p>\n

The revelation of the start of a disinflationary path may have been the catalyst to unleash the third quarter bond trade that is seasonally typical during the period of volatility for stocks.<\/em><\/b><\/p>\n

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

See<\/b>: <\/em>https:\/\/equityclock.com\/2024\/07\/11\/stock-market-outlook-for-july-12-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

TSX Composite Index<\/b> closed at an all-time closing high.<\/p>\n

\"clip_image001\"<\/a><\/p>\n

MSCI EAFE<\/b> $EFA moved above $80.75 to an all-time high extending an intermediate uptrend.<\/p>\n

\"clip_image002\"<\/a><\/p>\n

MSCI Israel iShares<\/b> $EIS moved above $64.38 extending an intermediate uptrend<\/p>\n

\"clip_image003\"<\/a><\/p>\n

NASDAQ Biotech iShares<\/b> $IBB moved above $141.03 extending an intermediate uptrend. <\/p>\n

\"clip_image004\"<\/a><\/p>\n

U.S. Broker iShares<\/b> $IAI moved above $120.00 to an all-time high extending an intermediate uptrend. <\/p>\n

\"clip_image005\"<\/a><\/p>\n

Major U.S. Bank iShares<\/b> $KBE moved above $47.96 extending an intermediate uptrend. <\/p>\n

\"clip_image006\"<\/a><\/p>\n

Gold Equity ETF<\/b> $GDX moved above $37.47 extending an intermediate uptrend. Junior Gold ETF<\/b> $GDXJ moved above $40.25 extending an intermediate uptrend. <\/p>\n

\"clip_image007\"<\/a><\/p>\n

\"clip_image008\"<\/a><\/p>\n

S&P 100 and NASDAQ 100 stocks<\/b> moving above resistance extending an intermediate uptrend included Philip Morris on a move above $103.50, Electronic Arts on a move above $144.31, Biogen on a move above $237.44, Bank of New York Mellon on a move above $60.87, Amgen on a move above $326.12, Regeneron on a move above $1,081.17 and Ross Stores moved above $150.36.<\/p>\n

\"clip_image009\"<\/a><\/p>\n

\"clip_image010\"<\/a><\/p>\n

\"clip_image011\"<\/a><\/p>\n

\"clip_image012\"<\/a><\/p>\n

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

 <\/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 11th<\/sup> 2024<\/p>\n

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

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 11th<\/sup> 2024<\/p>\n

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

Green: Increase from previous day<\/b><\/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 July 11th<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

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

Simple RSI Trend Strategy: Entry BEFORE a Breakout! Joe Rabil<\/b><\/p>\n

Simple RSI Trend Strategy: Entry BEFORE a Breakout! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Powell ‘sets table’ for rate cut before 2% inflation target<\/b><\/p>\n

Powell ‘sets table’ for rate cut before 2% inflation target \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Analyst predicts Big Tech winners and losers of Q2 earnings<\/b><\/p>\n

Analyst predicts Big Tech winners and losers of Q2 earnings \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer jumped 11.80 to 63.40. It changed from Neutral to Overbought on a move above 60.00.<\/p>\n

\"clip_image021\"<\/a><\/p>\n

The long term Barometer added 3.00 to 71.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image022\"<\/a><\/p>\n

The intermediate term Barometer jumped 9.29 to 73.89. It remains Overbought. Daily trend remains up.<\/p>\n

\"clip_image023\"<\/a><\/p>\n

The long term Barometer added 3.54 to 76.99. It remains Overbought. Daily trend remains 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 Friday July 12th U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EDT S&P 500 futures were unchanged following release of the June U.S. Producer Price Index at 8:30 AM EDT. Consensus was an increase 0.1% versus downwardly revised unchanged in May. Actual was an […]<\/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-178064","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178064","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=178064"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178064\/revisions"}],"predecessor-version":[{"id":178072,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178064\/revisions\/178072"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}