{"id":178448,"date":"2024-07-25T02:22:00","date_gmt":"2024-07-25T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178448"},"modified":"2024-07-25T08:52:53","modified_gmt":"2024-07-25T12:52:53","slug":"tech-talk-for-thursday-july-25th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/25\/tech-talk-for-thursday-july-25th-2024\/","title":{"rendered":"Tech Talk for Thursday July 25th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday July 25th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 7 points at 8:35 AM EDT.<\/em><\/p>\n

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

S&P 500 recovered 7 points following release of first reading of second quarter annualized real GDP at 8:30 AM EDT.<\/b> Consensus was a 2.0% increase, up from a gain of 1.4% in the first quarter. Actual was an increase of 2.8%<\/em><\/p>\n

ServiceNow<\/b> added $42.13 to $773.00 after reporting higher than consensus second quarter results.<\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

IBM <\/b>advanced $4.26 to $188.28 after reporting higher than consensus second quarter results.<\/em><\/p>\n

\"clip_image002[5]\"<\/a><\/p>\n

Ford <\/b>dropped $1.61 to $12.06 after reporting less than consensus second quarter results.<\/em><\/p>\n

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Newmont <\/b>added $0.35 to $48.05 after reporting higher than consensus second quarter results. <\/em><\/p>\n

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 <\/p>\n

Equity Clock – Market Outlook for July 25, 2024<\/strong><\/font><\/em><\/p>\n

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

An important gauge of risk sentiment is starting to shift out of the bullish trend that it has been in since 2022 as risk aversion grips the market. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/07\/24\/stock-market-outlook-for-july-25-2024\/<\/em><\/a><\/p>\n

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

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

U.S. utility stocks and related ETFs (e.g. XLU) were notably higher despite higher long term interest rates. Excel Energy<\/b> $XEL moved above $56.22 extending an intermediate uptrend. <\/p>\n

\"clip_image001\"<\/a><\/p>\n

General Motors<\/b> $GM an S&P 100 stock moved below intermediate support at $$45.30 despite reporting higher than consensus second quarter earnings. <\/p>\n

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Lithium <\/b>ETN $LIT moved below $38.57 to a four year low extending an intermediate downtrend.<\/p>\n

\"clip_image003\"<\/a><\/p>\n

Cdn. REIT iShares<\/b> $XRE.TO moved above Cdn$16.19 setting an intermediate uptrend. <\/p>\n

\"clip_image004\"<\/a><\/p>\n

Fortis <\/b>$FTS.TO a TSX 60 stock moved above Cdn$56.19 to a 16 month high extending an intermediate uptrend.<\/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 24th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for July 24th<\/sup> 2024<\/p>\n

\"clip_image009\"<\/a><\/b><\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for July 24th<\/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 a valued provider<\/strong><\/font><\/p>\n

Big Cap Tech Wreck Drags Market: Dan Nathan, Guy Adami and Liz Young<\/b><\/p>\n

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

 <\/p>\n

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

\"clip_image012\"<\/a><\/p>\n

The intermediate term Barometer plunged 8.60 to 59.20. It changed from Overbought to Neutral on a drop below 60.00. Daily trend has turned down.<\/p>\n

\"clip_image013\"<\/a><\/p>\n

The long term Barometer slipped 0.40 to 72.60. It remains Overbought. Daily trend has turned down.<\/p>\n

 <\/p>\n

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

\"clip_image014\"<\/a><\/p>\n

The intermediate term Barometer dropped 6.64 to 68.14. It remains Overbought. Daily trend has turned down.<\/p>\n

\"clip_image015\"<\/a><\/p>\n

The long term Barometer slipped 1.77 to 80.97. It remains Overbought.<\/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 25th U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points at 8:35 AM EDT. S&P 500 recovered 7 points following release of first reading of second quarter annualized real GDP at 8:30 AM EDT. Consensus was a 2.0% increase, up from a gain of […]<\/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-178448","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178448","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=178448"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178448\/revisions"}],"predecessor-version":[{"id":178458,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178448\/revisions\/178458"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}