{"id":178153,"date":"2024-07-16T02:22:00","date_gmt":"2024-07-16T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178153"},"modified":"2024-07-16T08:51:28","modified_gmt":"2024-07-16T12:51:28","slug":"tech-talk-for-tuesday-july-16th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/16\/tech-talk-for-tuesday-july-16th-2024\/","title":{"rendered":"Tech Talk for Tuesday July 16th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday July 16th<\/sup><\/strong><\/font><\/em><\/p>\n

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

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 14 points at 8:35 AM EDT<\/em><\/p>\n

S&P 500 futures added 5 points following release of June U.S. Retail Sales at 8:30 AM EDT<\/b>. Consensus was a drop of 0.4% versus a gain of 0.1% in May. Actual was unchanged.<\/em><\/p>\n

The Canadian Dollar slipped 0.08 to US$73.07 following release of Canada\u2019s June Consumer Price Index at 8:30 AM EDT.<\/b> Consensus on a year-over-year basis was a drop to 2.7% from 2.9% in May. Actual was 2.7%.<\/em><\/p>\n

Bank of America<\/b> added $0.97 to $42.86 after reporting higher than consensus second quarter earnings. <\/em><\/p>\n

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UnitedHealth Group<\/b> dropped $5.87 to $509.50 after second quarter costs exceeded consensus.<\/em><\/p>\n

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Match<\/b> advanced $2.73 to $34.75 after activist investor Starboard urged the company to explore a sale.<\/em><\/p>\n

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Morgan Stanley<\/b> added $2.24 to $107.50 after reporting higher than consensus second quarter earnings.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s stock market outlook for July 16th<\/sup> 2024<\/strong><\/font><\/em><\/p>\n

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

A major downturn in the equity market is unlikely so long as the banks remain supported. <\/em><\/b><\/p>\n

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

https:\/\/equityclock.com\/2024\/07\/15\/stock-market-outlook-for-july-16-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Major U.S. Banks SPDRs<\/b> $KBE moved above $48.49 and $49.34 to a 27 month high extending an intermediate uptrend. <\/p>\n

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Regional Bank SPDRs<\/b> $KRE moved above $53.15 extending an intermediate uptrend.<\/p>\n

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S&P Midcap<\/b> SPDRs $MDY moved above $556.26 to an all-time high extending an intermediate uptrend.<\/p>\n

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Wheat ETN<\/b> moved below $5.02 to a four year low extending an intermediate downtrend. <\/p>\n

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S&P 100 and NASDAQ 100 stocks<\/b> moving above resistance extending an intermediate uptrend included General Motors, Accenture, Zscaler, Schlumberger, Berkshire Hathaway, Metlife, Emerson Electric and FedEx.<\/p>\n

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Thomson Reuters<\/b> $TRI.TO a TSX 60 stock moved below $224.82 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<\/p>\n

Daily Seasonal\/Technical Equity Trends for July 15th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/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 July 15th<\/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

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

Daily Seasonal\/Technical Sector Trends for July 15th<\/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

RBC\u2019s Lori Calvasina Reveals Latest S&P 500 Outlook<\/b><\/p>\n

RBC\u2019s Lori Calvasina Reveals Latest S&P 500 Outlook \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Will Earnings Drive the Next Big Market Rally? Guy Adami and Dan Nathan<\/b><\/p>\n

Will Earnings Drive The Next Big Market Rally? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer slipped 2.80 to 67.40. It remains Overbought.<\/p>\n

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The long term Barometer was unchanged at 74.80. It remains Overbought.<\/p>\n

 <\/p>\n

TSX Momentum Baromete<\/strong><\/font>rs<\/p>\n

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The intermediate term Barometer slipped 1.33 to 78.32. It remains Overbought.<\/p>\n

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The long term Barometer added 0.88 to 80.09. 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 Tuesday July 16th U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points at 8:35 AM EDT S&P 500 futures added 5 points following release of June U.S. Retail Sales at 8:30 AM EDT. Consensus was a drop of 0.4% versus a gain of 0.1% in May. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-178153","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178153","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=178153"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178153\/revisions"}],"predecessor-version":[{"id":178163,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178153\/revisions\/178163"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}