{"id":178372,"date":"2024-07-23T02:22:00","date_gmt":"2024-07-23T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178372"},"modified":"2024-07-23T08:54:18","modified_gmt":"2024-07-23T12:54:18","slug":"tech-talk-for-tuesday-july-23rd-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/23\/tech-talk-for-tuesday-july-23rd-2024\/","title":{"rendered":"Tech Talk for Tuesday July 23rd 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday July 23rd<\/sup> 2024<\/strong><\/font><\/em><\/p>\n

U.S. equity index futures lower this morning<\/b>. S&P 500 futures were down 6 points at 8:30 AM EDT.<\/em><\/p>\n

Nucor <\/b>dropped $1.63 to $161.71 after lowering its third quarter earnings outlook.<\/em><\/p>\n

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Cleveland Cliffs<\/b> added $0.19 to $15.40 after reporting better than consensus second quarter results.<\/em><\/p>\n

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Zion Bancorp<\/b> gained $1.79 to $51.27 after reporting higher than consensus second quarter earnings. <\/em><\/p>\n

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NXP Semiconductor<\/b> dropped $22.81 to $261.00 after offering a lower than consensus third quarter outlook.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for July 23rd<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

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

The period of average volatility for stocks starts today and so too does the optimal holding period for a wide range of inverse ETFs.<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/07\/22\/stock-market-outlook-for-july-23-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

BMO Equal Weight Canadian <\/b>Banks ETF $ZEB.TO moved above Cdn$36.73 to a 27 month high extending an intermediate uptrend.<\/p>\n

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Commerce Bank<\/b> $CM.TO a TSX 60 stock moved above Cdn$68.60 to a 27 month high extending an intermediate uptrend<\/p>\n

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Platinum ETN<\/b> $PPLT moved below $86.63 setting an intermediate downtrend..<\/p>\n

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CrowdStrike <\/b>$CRWD a NASDAQ stock moved below $280.88 extending an intermediate downtrend.<\/p>\n

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Hydro One<\/b> $H.TO a TSX 60 stock moved above Cdn$41.29 to an all-time high extending an intermediate uptrend.<\/p>\n

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

Courtesy of www.equityclock.com<\/a><\/p>\n

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

Analysis of the BMO S&P\/TSX Equal Weight Banks Index ETF (TSE:ZEB.TO) seasonal charts above shows that a Buy Date of July 22<\/u><\/b> and a Sell Date of October 24<\/u><\/b> has resulted in a geometric average return of 1.83%<\/b> above the benchmark rate of the S&P 500 Total Return Index over the past 14 years. This seasonal timeframe has shown positive results compared to the benchmark in 13 of those periods. This is an excellent<\/b> rate of success and the return strongly outperforms<\/b> the relative buy-and-hold performance of the stock over the past 14 years by an average of 4.38%<\/b> per year.<\/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 22nd<\/sup> 2024<\/p>\n

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

Red: Decrease from previous day<\/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 22nd<\/sup> 2024<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for July 22nd<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

Biden\u2019s Exit and the Trump Trade: What it means for markets: Guy Adami and Dan Nathan<\/b><\/p>\n

Biden’s Exit & The Trump Trade: What It Means for Markets \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Expect BoC to cut interest rate on Wednesday: Holt<\/b><\/p>\n

Expect BoC to cut interest rate on Wednesday: Holt \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Why Ed Yardeni Sees an Ongoing Bull Market<\/b><\/p>\n

Why Ed Yardeni Sees an Ongoing Bull Market \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 4.40 to 69.60. It remains Overbought.<\/p>\n

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The long term Barometer added 1.00 to 76.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image016\"<\/a><\/p>\n

The intermediate term Barometer added 4.42 to 78.76. It remains Overbought.<\/p>\n

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The long term Barometer added 1.33 to a three year high at 82.74. 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 Tuesday July 23rd 2024 U.S. equity index futures lower this morning. S&P 500 futures were down 6 points at 8:30 AM EDT. Nucor dropped $1.63 to $161.71 after lowering its third quarter earnings outlook. Cleveland Cliffs added $0.19 to $15.40 after reporting better than consensus second quarter results. Zion Bancorp gained $1.79 […]<\/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-178372","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178372","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=178372"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178372\/revisions"}],"predecessor-version":[{"id":178382,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178372\/revisions\/178382"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}