{"id":178763,"date":"2024-08-06T02:22:00","date_gmt":"2024-08-06T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178763"},"modified":"2024-08-06T08:38:50","modified_gmt":"2024-08-06T12:38:50","slug":"tech-talk-for-tuesday-august-6th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/08\/06\/tech-talk-for-tuesday-august-6th-2024\/","title":{"rendered":"Tech Talk for Tuesday August 6th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday August 6th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 34 points at 8:30 AM EDT.<\/em><\/p>\n

Palantir <\/b>advanced $3.31 to $27.40 after reporting higher than consensus second quarter revenues.<\/em><\/p>\n

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Hims & Hers Health<\/b> dropped $1.14 to $16.70 after cautioning about greater competitive pressures.<\/em> <\/p>\n

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Caterpillar<\/b> added $15.70 to $332.50 after reporting higher than consensus second quarter earnings.<\/em><\/p>\n

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Uber<\/b> gained $3.32 to $61.80 after reporting higher than consensus second quarter revenues.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s stock market outlook for August 6th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

The period of volatility in the equity market is clearly here, requiring risk aversion and volatility hedges in portfolios for the months ahead. See:<\/em><\/b><\/p>\n

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

https:\/\/equityclock.com\/2024\/08\/03\/stock-market-outlook-for-august-6-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

VIX Index spiked<\/b><\/p>\n

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SPDRs breaking intermediate support<\/b> included Technology, Consumer Discretionary, Industrials and Energy<\/p>\n

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International MSCI iShares<\/b> breaking intermediate support included Canada, Europe, United Kingdom, Australia, Japan, Germany, South Korea, Mexico, Brazil, Taiwan, Emerging Markets, South Africa and Turkey.<\/p>\n

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Selected commodity sensitive sector ETFs<\/b> breaking intermediate support included Global Timber & Forestry, Steel, Metals & Mining, Gold, Junior Gold, Oil Services and Transports<\/p>\n

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S&P 100 and S&P 100 stocks breaking intermediate support<\/b> included Workday, Wallgreens Boots, Citigroup, Goldman Sachs, Morgan Stanley, Caterpillar, Emerson, General Electric, Apple, Google, Net Ease, Microsoft, Palo Alto, ON Semiconductor, Take Two Interactive Software, MongoDB and Zoom.<\/p>\n

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20+ Treasury Bond iShares<\/b> $TLT moved above $96.73 setting 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 August 5th<\/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

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

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

Daily Seasonal\/Technical Commodities Trends for August 5th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/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 August 5th<\/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

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

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

Market expert predicts \u2018more carnage\u2019 ahead<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=Rwaapeivw70<\/a><\/p>\n

 <\/p>\n

Global markets take a nose dive amid fears of a recession<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=jhCySo76LVs<\/a><\/p>\n

 <\/p>\n

‘LONG BEAR’: Market legend predicts how long it will take for market to normalize<\/b><\/p>\n

Robert Prechter<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=B6GZwlkwq7E<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer plunged 11.80 to 44.20. It remains Neutral. Daily trend is down.<\/p>\n

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The long term Barometer dropped 6.80 to 62.80. It remains Overbought. Daily trend is down.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer plunged 12.39 to 56.64. It changed from Overbought to Neutral on a drop below 60.00. Daily trend is down.<\/p>\n

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The long term Barometer dropped 7.08 to 71.68. It remains Overbought. Daily trend is down. <\/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 August 6th U.S. equity index futures were higher this morning. S&P 500 futures were up 34 points at 8:30 AM EDT. Palantir advanced $3.31 to $27.40 after reporting higher than consensus second quarter revenues. Hims & Hers Health dropped $1.14 to $16.70 after cautioning about greater competitive pressures. Caterpillar added $15.70 […]<\/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-178763","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178763","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=178763"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178763\/revisions"}],"predecessor-version":[{"id":178773,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178763\/revisions\/178773"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}