{"id":178413,"date":"2024-07-24T02:22:00","date_gmt":"2024-07-24T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178413"},"modified":"2024-07-24T08:36:10","modified_gmt":"2024-07-24T12:36:10","slug":"tech-talk-for-wednesday-july-24th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/24\/tech-talk-for-wednesday-july-24th-2024\/","title":{"rendered":"Tech Talk for Wednesday July 24th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday July 24th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 50 points at 8:30 AM EDT.<\/em><\/p>\n

The Bank of Canada updates its monetary policy at 9:45 AM EDT<\/b>. A press conference is offered at 10:30 AM EDT. Consensus calls for a 0.25% cut in its rate offered to major banks to 4.50%.<\/em><\/p>\n

Alphabet $<\/b>GOOGL dropped $6.54 to $175.25 after reporting less than consensus second quarter YouTube revenues.<\/em><\/p>\n

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Texas Instruments<\/b> gained $8.51 to $206.79 after reporting higher than consensus second quarter results. The company also offered positive guidance for the third quarter. <\/em><\/p>\n

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Tesla <\/b>dropped $4.68 to $241.70 after reporting less than consensus second quarter earnings. <\/em><\/p>\n

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Visa <\/b>dropped $7.54 to $257.25 after reporting less than consensus fiscal third quarter results<\/em>.<\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for July 24th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Existing Home Sales show the weakest June change on record and prices are becoming vulnerable to pulling back, potentially impacting the wealth effect in the economy.<\/em><\/b><\/p>\n

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

https:\/\/equityclock.com\/2024\/07\/23\/stock-market-outlook-for-july-24-2024\/<\/em><\/a><\/p>\n

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

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

Lockheed Martin<\/b> $LMT moved above $490.86 to an all-time high extending an intermediate uptrend. Triggered a move by Aerospace & Defense iShares above $137.19 to an all-time high.<\/p>\n

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General Electric Aerospace<\/b> $GE an S&P 100 stock moved above $170.51 to an all-time high extending an intermediate uptrend. <\/p>\n

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Danaher<\/b> $DHR an S&P 100 stock moved above $268.82 extending an intermediate uptrend. <\/p>\n

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BHP <\/b>$BHP one of the world\u2019s largest base metals producer moved below$54.81 resuming an intermediate downtrend<\/p>\n

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Paccar<\/b> $PCAR a NASDAQ 100 stock moved below $99.46 resuming an intermediate downtrend.<\/p>\n

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United Parcel Services<\/b> $UPS an S&P 100 stock moved below $129.23 to a four year low extending an intermediate downtrend.<\/p>\n

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First Quantum Minerals<\/b> $FM.TO a TSX 60 stock moved below Cdn$15.82 completing a double top pattern.<\/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 23rd<\/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 23rd<\/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 23rd<\/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

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

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

The Stock Market is Bracing for Earnings IMPACT! David Keller<\/b><\/p>\n

The Stock Market is Bracing for Earnings IMPACT! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

BofA’s Savita Subramanian on why we are heading into a ‘tricky’ part of the year<\/b><\/p>\n

BofA’s Savita Subramanian on why we are heading into a ‘tricky’ part of the year \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The market is due for a pullback: Brian Belski<\/b><\/p>\n

The market is due for a pullback: Brian Belski \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

What Earnings Reveal About The Market: Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

What Earnings Reveal About The Market \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

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The intermediate term Barometer slipped 1.80 to 67.80. It remains Overbought.<\/p>\n

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The long term Barometer dropped 3.00 to 73.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image017\"<\/a><\/p>\n

The intermediate term Barometer dropped 3.98 to 74.78. It remains Overbought.<\/p>\n

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The long term Barometer was unchanged at 82.74. It remains Overbought.<\/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 24th U.S. equity index futures were lower this morning. S&P 500 futures were down 50 points at 8:30 AM EDT. The Bank of Canada updates its monetary policy at 9:45 AM EDT. A press conference is offered at 10:30 AM EDT. Consensus calls for a 0.25% cut in its rate […]<\/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-178413","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178413","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=178413"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178413\/revisions"}],"predecessor-version":[{"id":178423,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178413\/revisions\/178423"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}