{"id":178298,"date":"2024-07-19T02:22:00","date_gmt":"2024-07-19T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178298"},"modified":"2024-07-19T08:50:53","modified_gmt":"2024-07-19T12:50:53","slug":"tech-talk-for-friday-july-19th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/19\/tech-talk-for-friday-july-19th-2024\/","title":{"rendered":"Tech Talk for Friday July 19th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday July 19th<\/sup><\/strong><\/font><\/em><\/p>\n

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

Microsoft<\/b> dropped $5.97 to $434.40 and Crowdstrike<\/b> fell $34.75 to $308.20 after a failed systems update by Crowdstrike caused a global outage of Microsystem\u2019s IT services.<\/em><\/p>\n

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Netflix <\/b>added $2.96 to $646.00 after reporting higher than consensus second quarter earnings. <\/em><\/p>\n

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Intuitive Surgical<\/b> jumped $27.89 to $444.03 after reporting higher than consensus second quarter revenues and earnings. <\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for July 19th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

The jump in the VIX over the past couple of sessions suggests that the period of volatility for stocks has arrived. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/07\/18\/stock-market-outlook-for-july-19-2024\/<\/em><\/a><\/p>\n

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

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

MMM<\/b> $MMM a Dow Jones Industrial Average stock moved above $105.31 extending an intermediate uptrend <\/p>\n

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Simon Properties<\/b> $SPG an S&P 100 stock moved above $155.77 to an all-time high extending an intermediate uptrend.<\/p>\n

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Base Metals<\/b> ETN<\/b> $DBB (equally weighted in copper, zinc and aluminum).moved below $19.68 completing a Head & Shoulders pattern. Related equities completed double top patterns including Alcoa <\/b>on move below US$36.79, Hudbay Minerals<\/b> on a moved below Cdn$11.51, Southern Copper<\/b> on a move below US103.85 and Teck Corp<\/b> on a move below Cdn$63.50. <\/p>\n

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Uranium ETF<\/b> $URA moved below $28.54 completing a double top pattern.<\/p>\n

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Abbott Labs<\/b> $ABT an S&P 100 stock moved below $100.12 extending an intermediate downtrend. <\/p>\n

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Copart <\/b>$CPRT a NASDAQ 100 stock moved below $51.74 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<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for July 18th<\/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

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

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

Daily Seasonal\/Technical Commodities Trends for July 18th<\/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 17th<\/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

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

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

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

S&P 500 Poised To Tumble? Tom Bowley<\/b><\/p>\n

S&P 500 Poised To Tumble? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Be ready for market volatility come August: market strategist<\/b><\/p>\n

Be ready for market volatility come August: market strategist \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Chip Wreck: The End of the Red Hot Semi Trade?<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=iYunV1DNN3U<\/a><\/p>\n

 <\/p>\n

Technical Chart of the Day: Copper ETN<\/strong><\/font><\/p>\n

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                                                 TOTAL SCORE -2 to \u20136<\/font><\/strong><\/p>\n

 <\/p>\n

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Seasonal influences are neutral until August 8th<\/sup><\/p>\n

<\/sup><\/p>\n

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

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The intermediate term Barometer dropped 5.80 to 70.40. It remains Overbought.<\/p>\n

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The long term Barometer dropped 3.80 to 76.80. It remains Overbought.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 3.98 to 76.11. It remains Overbought.<\/p>\n

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The long term Barometer added 0.44 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 Friday July 19th U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EDT. Microsoft dropped $5.97 to $434.40 and Crowdstrike fell $34.75 to $308.20 after a failed systems update by Crowdstrike caused a global outage of Microsystem\u2019s IT services. Netflix added $2.96 to $646.00 after […]<\/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-178298","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178298","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=178298"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178298\/revisions"}],"predecessor-version":[{"id":178308,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178298\/revisions\/178308"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}