{"id":178249,"date":"2024-07-18T02:22:00","date_gmt":"2024-07-18T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178249"},"modified":"2024-07-18T08:48:23","modified_gmt":"2024-07-18T12:48:23","slug":"tech-talk-for-thursday-july-18th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/18\/tech-talk-for-thursday-july-18th-2024\/","title":{"rendered":"Tech Talk for Thursday July 18th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday July 18th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 13 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures added 2 points following release of the July Philly Fed Index at 8:30 AM EDT.<\/b> Consensus was an increase to 2.7 from 1.3 in June. Actual was 13.9.<\/em><\/p>\n

Alcoa<\/b> added $0.29 to $37.10 after second quarter revenues beat consensus estimates.<\/em><\/p>\n

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Kinder Morgan<\/b> dropped $0.63 to $19.90 after second quarter revenues came in less than consensus. <\/em><\/p>\n

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Discover Financial<\/b> added $6.59 to $148.00 after reporting higher than consensus second quarter revenues and earnings. <\/em><\/p>\n

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Domino\u2019s Pizza Group<\/b> dropped $54.30 to $418.97 after reporting less than consensus second quarter revenues.<\/em><\/p>\n

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Equity Clock – Market Outlook for July 18, 2024<\/strong><\/font><\/em><\/p>\n

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A near-term retracement in the technology sector back towards levels of intermediate to long-term support may be underway. <\/em><\/b><\/p>\n

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

https:\/\/equityclock.com\/2024\/07\/17\/stock-market-outlook-for-july-18-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Consumer Staples SPDRs<\/b> $XLP moved above $78.81 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 intermediate uptrends included Comcast, US Bancorp, Gilead, Pfizer, UnitedHealth Group, Global Foundries, Johnson & Johnson, Bristol-Myers-Squibb, Colgate Palmolive, Pepsico and Lockheed Martin<\/p>\n

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Notably weaker were Semiconductor stocks and their related ETFs<\/b>. Semiconductor ETF $SMH moved below intermediate support at $255.66. Individual equities breaking intermediate support included Broadcom $AVGO and KLA Inc $KLAC.<\/p>\n

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CCL Industries<\/b> $CCL.B a TSX 60 stock moved above Cdn$73.89 to an all-time high extending an intermediate uptrend. <\/p>\n

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TC Energy<\/b> $TRP.TO a TSX 60 stock moved above Cdn$54.08 extending an intermediate uptrend.<\/p>\n

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Trader\u2019s Corner<\/strong><\/font><\/p>\n

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Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for July 17th<\/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

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

Daily Seasonal\/Technical Commodities Trends for July 17th<\/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

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

Daily Seasonal\/Technical Sector Trends for July 17th<\/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

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Links Offered by Valued Providers<\/strong><\/font><\/p>\n

Dow Theory Bull confirmed! What happens next? David Keller<\/b><\/p>\n

Dow Theory Bull Confirmed! What Happens Next? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Greene: Global chip sell-off is a bend, not break, trade<\/b><\/p>\n

Greene: Global chip sell-off is a bend, not break, trade \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Find Trades Using These POWERFUL MACD Combinations: Joe Rabil<\/b><\/p>\n

Find Trades Using These POWERFUL MACD Combinations \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Fed’s Beige Book sees slowing growth, consumers adjusting for inflation<\/b><\/p>\n

Fed’s Beige Book sees slowing growth, consumers adjusting for inflation \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

BoC widely expected to cut rates: BNNBloomberg<\/b><\/p>\n

BoC widely expected to cut rates \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Tech Tremors Spark Market Selloff: Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

Tech Tremors Spark Market Selloff \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

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The intermediate term Barometer slipped 0.60 to 76.20. It remains Overbought.<\/p>\n

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The long term Barometer added 0.80 to 80.40. It remains Overbought. Daily uptrend was extended. <\/p>\n

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

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The intermediate term Barometer dropped 1.77 to 80.09. It remains Overbought.<\/p>\n

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The long term Barometer slipped 0.44 to 81.86. It remains Overbought. <\/p>\n

<\/b><\/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 Thursday July 18th U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points at 8:35 AM EDT. S&P 500 futures added 2 points following release of the July Philly Fed Index at 8:30 AM EDT. Consensus was an increase to 2.7 from 1.3 in June. Actual was […]<\/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-178249","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178249","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=178249"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178249\/revisions"}],"predecessor-version":[{"id":178259,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178249\/revisions\/178259"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}