{"id":178580,"date":"2024-07-31T02:22:00","date_gmt":"2024-07-31T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178580"},"modified":"2024-07-31T08:48:59","modified_gmt":"2024-07-31T12:48:59","slug":"tech-talk-for-wednesday-july-31st-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/07\/31\/tech-talk-for-wednesday-july-31st-2024\/","title":{"rendered":"Tech Talk for Wednesday July 31st 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday July 31st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 65 points at 8:35 AM EDT.<\/em><\/p>\n

The Canadian Dollar added 0.04 to US72.38 cents following release of Canada\u2019s May GDP report at 8:30 AM EDT<\/b>. Consensus was an increase of 0.1% versus a gain of 0.3% in April. Actual was an increase of 0.2%<\/em><\/p>\n

Microsoft<\/b> dropped $27.00 to $395.92 after reporting a slowdown in Cloud growth.<\/em><\/p>\n

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Advanced Micro Devices<\/b> gained $8.52 to $146.58 after raising guidance on AI chip production. <\/em><\/p>\n

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Starbucks <\/b>added $1.88 to $77.82 after issuing a favourable earnings outlook.<\/em><\/p>\n

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Pinterest <\/b>dropped $4.02 to $33.33 after projecting a less than consensus revenue outlook.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for July 31st<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Volatility hedges are in demand, outperforming the broader market. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/07\/30\/stock-market-outlook-for-july-31-2024\/<\/em><\/a><\/p>\n

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

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

Merck<\/b> $MRK a Dow Jones Industrial Average stock moved below $120.87 and $118.52 completing a double top pattern.<\/p>\n

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

Procter & Gamble<\/b> $PG a Dow Jones Industrial Average stock moved below $160.74 and $160.46 setting an intermediate downtrend.<\/p>\n

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American Tower<\/b> $AMT an S&P 100 stock moved above $215.36 extending an intermediate uptrend. <\/p>\n

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Electronic Arts<\/b> $EA an S&P 100 stock moved above $147.39 to an all-time high extending an intermediate uptrend.<\/p>\n

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ANSYS <\/b>$ANSS a NASDAQ 100 stock moved below $308.03 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 30th<\/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 30th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/font><\/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 29th<\/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 valued providers<\/strong><\/font><\/p>\n

Seven Earnings Plays to Start the Week! David Keller<\/b><\/p>\n

Seven Earnings Plays to Start the Week! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Gold could reach $3,000 per ounce: Rosenberg<\/b><\/p>\n

Gold could reach $3,000 per ounce: Rosenberg \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

BoC needs to keep cutting rates: Rosenberg<\/b><\/p>\n

BoC needs to keep cutting rates: Rosenberg \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

Tactical US Equity View as Earnings Ramp Up: J P Morgan<\/b><\/p>\n

Tactical US Equity View as Earnings Ramp Up \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Crowded Trades Unravel: Guy Adami and Dan Nathan<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=eGR9KXEhA0Q<\/a><\/p>\n

 <\/p>\n

Why it feels like we’re in a recession (when we’re not) | About That; CBC<\/b><\/p>\n

Why it feels like we’re in a recession (when we’re not) | About That \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

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

The intermediate term Barometer added 0.40 to 70.40. It remains Overbought.<\/p>\n

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

The long term Barometer added 1.20 to 78.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer was unchanged at 73.46. It remains Overbought.<\/p>\n

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

The long term Barometer slipped 0.44 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 Wednesday July 31st U.S. equity index futures were higher this morning. S&P 500 futures were up 65 points at 8:35 AM EDT. The Canadian Dollar added 0.04 to US72.38 cents following release of Canada\u2019s May GDP report at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 0.3% […]<\/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-178580","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178580","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=178580"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178580\/revisions"}],"predecessor-version":[{"id":178590,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178580\/revisions\/178590"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}