{"id":178481,"date":"2024-07-26T02:22:00","date_gmt":"2024-07-26T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178481"},"modified":"2024-07-26T08:59:20","modified_gmt":"2024-07-26T12:59:20","slug":"tech-talk-for-friday-july-26th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/26\/tech-talk-for-friday-july-26th-2024\/","title":{"rendered":"Tech Talk for Friday July 26th 2024"},"content":{"rendered":"

Pre-opening Comments for July 26th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 40 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures slipped 4 points following release of economic reports released at 8:30 AM EDT<\/b>. Consensus for June PCE Price Index was a gain of 0.1% versus unchanged in May. Actual was a gain of 0.1%. On a year-over-year basis, consensus for June PCE Price Index was a gain of 2.4% versus a gain of 2.6%. Actual was a gain of 2.4%. Ex food and energy, consensus for June PCE Price Index was a gain of 0.2% versus a gain of 0.1% in May. Actual was a gain of 0.2%. On a year-over-year basis, consensus for Core PCE Price Index was a gain of 2.5% versus a gain of 2.6% in May. Actual was a gain of 2.6%. Consensus for June Personal Income was a gain of 0.4% versus an advance of 0.5% in May. Actual was a gain of 0.2%. Consensus for June Personal Spending was a gain of 0.3% versus a gain of 0.2% in May. Actual was a gain of 0.3%.<\/em><\/p>\n

Norfolk Southern<\/b> gained $15.26 to $238.16 after reporting higher than consensus second quarter earnings.<\/em><\/p>\n

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Skechers <\/b>added $0.34 to $65.37 after announcing a $1 billion share buyback program. The company also offered positive guidance. <\/em><\/p>\n

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Olin <\/b>dropped $4.05 to $43.99 after reporting less than consensus second quarter revenues and earnings. <\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for July 26th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

The fundamentals to natural gas are starting to look interesting following weeks of minor injections to inventories and as the period of seasonal strength for the commodity nears.<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/07\/25\/stock-market-outlook-for-july-26-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Biotech ETF<\/b> $FBT moved above $166.00 to a 31 month high extending an intermediate uptrend<\/p>\n

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Silver bullion ETN<\/b> $SLV moved below $26.17 completing a double top pattern.<\/p>\n

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Global X Uranium ETF<\/b> $URA moved belowUS$26.75 to an 18 month low extending an intermediate downtrend. Responded to weakness by Cameco on a move below intermediate support at US$45.10 and Cdn$62.03<\/p>\n

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S&P 100 and NASDAQ 100 stocks<\/b> moving above resistance<\/b> extending an intermediate uptrend included Raytheon Technologies on a move above $108.65, AbbVie on a move above $179.55, Zoom on a move above $59.86, Abbott Labs on a move above $108.40, O\u2019Reilly Automotive on a move above $1091.22, Thermo Fisher Scientific on a move above $603.01 and Incyte on a move above $67.36<\/p>\n

S&P 100 and NASDAQ 100<\/b> stocks moving below support<\/b> extending an intermediate downtrend included Airbnb on a move below $140.82, Ford on a move below $11.48, AMD on a move below141.15, Lulu Lemon on a move below $251.51, DexCom on a move below $108.71 and Consolidated Energy on a move below $93.78.<\/p>\n

 <\/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 25th<\/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

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

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

Daily Seasonal\/Technical Commodities Trends for July 25th<\/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 25th<\/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

Massive Mega Cap Reversal: Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=BB5eF2c1hrw<\/a><\/p>\n

 <\/p>\n

Economy is Teetering: Will We Bounce or Plunge? Tom Bowley<\/b><\/p>\n

Economy is Teetering: Will We Bounce or Plunge? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Are you getting the most out of your tax-free savings account?<\/b><\/p>\n

Are you getting the most out of your tax-free savings account? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

S&P 500 Technical Analysis 7-25-24 (Elliott Wave Theory)<\/b><\/p>\n

SP500 Technical Analysis 7-25-24 (Elliott Wave Theory) \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 3.60 to 62.80. It returned to Overbought on a move above 60.00. <\/p>\n

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The long term Barometer added 0.80 to 73.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 0.88 to 69.03. It remains Overbought.<\/p>\n

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The long term Barometer slipped 0.44 to 80.53. 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 July 26th U.S. equity index futures were higher this morning. S&P 500 futures were up 40 points at 8:35 AM EDT. S&P 500 futures slipped 4 points following release of economic reports released at 8:30 AM EDT. Consensus for June PCE Price Index was a gain of 0.1% versus unchanged in May. […]<\/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-178481","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178481","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=178481"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178481\/revisions"}],"predecessor-version":[{"id":178489,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178481\/revisions\/178489"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}