{"id":178202,"date":"2024-07-17T02:22:00","date_gmt":"2024-07-17T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178202"},"modified":"2024-07-17T08:49:53","modified_gmt":"2024-07-17T12:49:53","slug":"tech-talk-for-wednesday-july-17th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/17\/tech-talk-for-wednesday-july-17th-2024\/","title":{"rendered":"Tech Talk for Wednesday July 17th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday July 17th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 52 points at 8:35 AM EDT. <\/em><\/p>\n

S&P 500 futures were unchanged following release of June U.S. Housing Starts at 8:30 AM EDT<\/b>. Consensus called for an increase to 1.31 million units from 1.277 million units in May. Actual was an increase to 1.353 million units.<\/em><\/p>\n

Gold<\/b> added US$10.80 to $2478.60 per ounce to an all-time high<\/em><\/p>\n

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Five Below<\/b> dropped $9.18 to $92.89 after the company reported less than consensus second quarter revenues. In addition, the company\u2019s Chief Executive Officer has stepped down. <\/em><\/p>\n

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Interactive Brokers<\/b> added $2.34 to $126.00 after reporting higher than consensus second quarter revenues and earnings.<\/em><\/p>\n

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American Airlines<\/b> slipped $0.16 to $11.03 after TD Cowen downgraded the stock from Buy to Hold.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for July 17th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Today (July 17th) marks the average peak to the summer rally timeframe for stocks. See: <\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/07\/16\/stock-market-outlook-for-july-17-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Gold SPDRs<\/b> $GLD moved above $225.66 to an all-time high extending an intermediate uptrend.<\/p>\n

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Silver Equity ETF<\/b> $SIL moved above $36.14 extending an intermediate uptrend.<\/p>\n

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Canada iShares<\/b> $EWC moved above US$38.93 to an all-time high extending an intermediate uptrend.<\/p>\n

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Industrial SPDRs<\/b> $XLI moved above $125.96 to an all-time high extending an intermediate uptrend.<\/p>\n

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U.S. Insurance iShares<\/b> $IAK moved above $117.76 to an all-time high extending an intermediate uptrend.<\/p>\n

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Homebuilders SPDRs<\/b> $XHB moved above $111.80 to an all-time high extending an intermediate uptrend.<\/p>\n

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Healthcare Providers iShares<\/b> moved above $54.69 extending an intermediate uptrend.<\/p>\n

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Aerospace & Defense ETF<\/b> $PPA moved above $105.67 to an all-time high extending an intermediate uptrend. Aerospace & Defense iShares<\/b> $ITA moved above $137.19 to an all-time high extending an intermediate uptrend.<\/p>\n

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S&P 100 and NASDAQ 100 stocks<\/b> moving above resistance extending an intermediate uptrend included American Express, Match Group, UnitedHealth Group, Electronic Arts, Duke Energy, T-Mobile, NXP Semiconductor, CDW Corp., Linde, Honeywell, Ford, Texas Instruments, eBay, Schlumberger, Capital One, <\/p>\n

TSX 60 stocks<\/b> moving above resistance extending an intermediate uptrend included Barrick Gold $ABX.TO on a move above Cdn$25.83, Franco-Nevada $FNV.TO on a move above $Cdn$176.40 and Shopify $SHOP.TO on a move above Cdn$93.68.<\/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 16th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for July 16th<\/sup> 2024<\/p>\n

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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 16th<\/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

Small Caps & Value Sectors Are Booming (For Now): David Keller<\/b><\/p>\n

Small Caps & Value Sectors Are Booming (For Now) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Why Stocks Are STILL the BEST Investment: <\/b><\/p>\n

Why Stocks Are STILL the BEST Investment \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Market will see some broadening over the next six months, says Goldman Sachs’ David Kostin<\/b><\/p>\n

Market will see some broadening over the next six months, says Goldman Sachs’ David Kostin \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Canadian Inflation slowing to 2.7% in June<\/b><\/p>\n

Inflation slowing to 2.7% in June \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

Expect BoC rate cut on July 24th: economist: Robert Kavcic BMO Capital Markets<\/b><\/p>\n

Expect BoC rate cut on July 24th: economist \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Chart of the Day<\/strong><\/font><\/p>\n

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                                                   TOTAL SCORE:   +2 to +6<\/strong><\/p>\n

 <\/p>\n

 <\/p>\n

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 <\/p>\n

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

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The intermediate term Barometer jumped 9.40 to 76.80. It remains Overbought. Daily uptrend was extended.<\/p>\n

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

The long term Barometer added 4.80 to 79.60. It remains Overbought. Daily uptrend was extended.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 3.54 to 81.86. It remains Overbought. Daily uptrend was extended.<\/p>\n

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

The long term Barometer added 2.21 to 82.30. It remains Overbought. Daily uptrend was extended. <\/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 17th U.S. equity index futures were lower this morning. S&P 500 futures were down 52 points at 8:35 AM EDT. S&P 500 futures were unchanged following release of June U.S. Housing Starts at 8:30 AM EDT. Consensus called for an increase to 1.31 million units from 1.277 million units in […]<\/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-178202","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178202","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=178202"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178202\/revisions"}],"predecessor-version":[{"id":178212,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178202\/revisions\/178212"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}