{"id":178937,"date":"2024-08-13T02:22:00","date_gmt":"2024-08-13T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=178937"},"modified":"2024-08-13T09:00:53","modified_gmt":"2024-08-13T13:00:53","slug":"tech-talk-for-tuesday-august-13th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/08\/13\/tech-talk-for-tuesday-august-13th-2024\/","title":{"rendered":"Tech Talk for Tuesday August 13th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday August 13th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 33 points at 8:35 AM EDT<\/em><\/p>\n

S&P 500 futures gained 14 points following release of the U.S. July Producer Price Index at 8:30 AM EDT.<\/b> Consensus was an increase of 0.2% versus a gain of 0.2% in June. Actual was an increase of 0.1%. On a year-over-year basis, consensus was an increase of 2.3% versus a gain of 2.6% in June. Actual was a 2.2% gain. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.4% in June. Actual was no change. On a year-over-year basis, consensus was an increase of 2.7% versus a gain of 3.0% in June. Actual was a 2.4% gain.<\/em><\/p>\n

Home Depot<\/b> dropped $8.46 to $337.35 after offering a third quarter outlook below consensus.<\/em><\/p>\n

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Hudbay Minerals<\/b> is expected to open lower after reporting a wider second quarter loss.<\/em><\/p>\n

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PACS Group<\/b> gained $2.68 to $35.03after offering an upbeat outlook for the remainder of 2024<\/em><\/p>\n

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Starbucks<\/b> gained $11.00 to $88.03 after announcing a change in Chief Executive Officer<\/em><\/p>\n

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 <\/p>\n

Equity Clock – Market Outlook for August 13, 2024<\/strong><\/font><\/em><\/p>\n

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

Technology sector testing rising trendline support, presenting a make or break point to the strength of the rising intermediate-term trend of the broader equity market. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/08\/12\/stock-market-outlook-for-august-13-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Brazil iShares<\/b> $EWZ moved above $29.41 completing a double bottom pattern.<\/p>\n

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Cisco <\/b>$CSCO a Dow Jones Industrial Average stock moved below $44.57 extending an intermediate downtrend. <\/p>\n

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Dollar General<\/b> $DG a NASDAQ 100 stock moved below $115.98 extending an intermediate downtrend. <\/p>\n

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Warner Brothers Discovery<\/b> $WBD a NASDAQ 100 stock moved below $6.73 to a 14 year low extending an intermediate downtrend.<\/p>\n

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BMO Equal Weight Canadian Oil & Gas ETF<\/b> $ZEO.TO moved above Cdn$72.90 to an all-time high extending an intermediate uptrend.<\/p>\n

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Strength was led by Imperial Oil<\/b> $IMO.TO a TSX 60 stock on a move above $101.00 to an all-time high extending an intermediate uptrend.<\/p>\n

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Shopify <\/b>$SHOP.TO a TSX 60 stock moved above intermediate resistance at Cdn$95.76.<\/p>\n

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Bank of Nova Scotia<\/b> $BNS.TO a TSX 60 stock moved below Cdn$60.62 following news of its purchase of a 14.9% interest in Keycorp for $2.8 billion.<\/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 August12th<\/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

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 12th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/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 August12th<\/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

Profit Like the PROS By Timing Your Entry Points: David Keller<\/b><\/p>\n

Profit Like the PROS By Timing Your Entry Points \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Not much room from banks to grow in Canada: Schwartz<\/b><\/p>\n

Not much room from banks to grow in Canada: Schwartz \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

TSX vs. U.S. stocks, where to invest? Ross Healy<\/b><\/p>\n

TSX vs. U.S. stocks, where to invest? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Volatility could push gold to $3,000 per ounce: Strategist<\/b><\/p>\n

Volatility could push gold to $3,000 per ounce: Strategist \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Stock market bounce, seasonality, cycles, and optimal trading strategy<\/b><\/p>\n

Stock market bounce, seasonality, cycles, and optimal trading strategy \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Chart of the Day<\/font><\/strong>: iShares Gold Bullion (CGL.TO)<\/strong><\/font><\/p>\n

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

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 <\/p>\n

Seasonal influences are positive to Oct.15th<\/sup>. See:<\/p>\n

https:\/\/charts.equityclock.com\/ishares-gold-bullion-etf-tsecgl-to-seasonal-chart<\/a><\/p>\n

 <\/p>\n

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 <\/p>\n

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

\"clip_image016\"<\/a><\/p>\n

The intermediate term Barometer dropped 4.00 to 54.00. It remains Neutral.<\/p>\n

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The long term Barometer dropped 2.20 to 66.20. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image018\"<\/a><\/p>\n

The intermediate term Barometer added 3.10 to 53.98. It remains Neutral.<\/p>\n

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The long term Barometer added 1.33 to 71.68. 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 Tuesday August 13th U.S. equity index futures were higher this morning. S&P 500 futures were up 33 points at 8:35 AM EDT S&P 500 futures gained 14 points following release of the U.S. July Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.2% […]<\/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-178937","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178937","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=178937"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178937\/revisions"}],"predecessor-version":[{"id":178947,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/178937\/revisions\/178947"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=178937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=178937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=178937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}