{"id":179034,"date":"2024-08-16T02:22:00","date_gmt":"2024-08-16T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=179034"},"modified":"2024-08-16T09:01:10","modified_gmt":"2024-08-16T13:01:10","slug":"tech-talk-for-friday-august-16th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/08\/16\/tech-talk-for-friday-august-16th-2024\/","title":{"rendered":"Tech Talk for Friday August 16th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday August 16th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 26 points at 8:35 AM EDT<\/em><\/p>\n

S&P 500 futures dropped 9 points following release of U.S. July Housing Starts report at 8:30 AM EDT<\/b>. Consensus was a drop to 1.350 million units from 1.363 million units in June. Actual was a drop to 1.238 million units.<\/em><\/p>\n

H&R Block<\/b> added $4.61 to $62.10 after reporting higher than consensus fiscal fourth quarter results. The company also raised its dividend by 17%.<\/em><\/p>\n

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Applied Materials<\/b> dropped $6.30 to $205.53 after reporting fiscal third quarter results below consensus. <\/em><\/p>\n

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Fox<\/b> added $1.00 to $39.99 after Wells Fargo upgraded the stock to Buy<\/em><\/p>\n

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Microchip Technology<\/b> gained $1.70 to $83.00 after Piper Jaffrey upgraded the stock to Buy.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Market Outlook for August 16th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Consumer spending snapped back in J<\/em><\/b>uly, but a more discerning consumer mentality remains. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/08\/15\/stock-market-outlook-for-august-16-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

Wolf on Bay Street<\/strong><\/font><\/p>\n

Don Vialoux<\/em><\/font><\/strong> was a guest on \u201cWolf on Bay Street\u201d. The interview is released on Corus Radio 640 at 7:00 PM EDT on Saturday.<\/p>\n

 <\/p>\n

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

Vanguard Health Care ETF<\/b> $VHT moved above $278.07 to an all-time high extending an intermediate uptrend.<\/p>\n

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Wal-Mart<\/b> $WMT a Dow Jones Industrial Average stock moved above $71.11 to an all-time high extending an intermediate uptrend. Second quarter results exceeded consensus.<\/p>\n

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Cisco<\/b> $CSCO a Dow Jones Industrial Average stock moved above $48.77 completing a double bottom pattern. <\/p>\n

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Medtronic<\/b> $MDT an S&P 100 stock moved above $83.63 resuming an intermediate uptrend.<\/p>\n

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Dollarama <\/b>$DOL.TO a TSX 60 stock moved above Cdn$132.23 to an all-time high extending an intermediate uptrend. <\/p>\n

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Loblaw Companies<\/b> $L.TO a TSX 60 stock moved above Cdn$171.99 to an all-time high extending an intermediate uptrend.<\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

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

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 <\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for August15th<\/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 August 15th<\/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 August15th<\/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

Head and Shoulders Top for Semiconductors? David Keller<\/b><\/p>\n

Head and Shoulders Top for Semiconductors? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

CRITICAL Week Ahead for S&P 500: Julius Decampenaer<\/b><\/p>\n

CRITICAL Week Ahead for S&P 500 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Next jobs report will be a needle mover, says Charles Schwab’s Liz Ann Sonders on Fed rate cuts<\/b><\/p>\n

Next jobs report will be a needle mover, says Charles Schwab’s Liz Ann Sonders on Fed rate cuts \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The S&P 500 Bottom Is In (and Here\u2019s Why) Tom Bowley<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=nyl20ZzwS-o<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 6.80 to 66.80. It remains Overbought. Daily trend is up.<\/p>\n

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The long term Barometer added 4.40 to 73.60. It remains Overbought. Daily trend is up.<\/p>\n

 <\/p>\n

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

\"clip_image017\"<\/a><\/p>\n

The intermediate term Barometer added 6.19 to 68.58. It remains Overbought. Daily trend is up.<\/p>\n

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

The long term Barometer added 2.21 to 76.55. It remains Overbought. Daily trend is up. <\/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 Friday August 16th U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points at 8:35 AM EDT S&P 500 futures dropped 9 points following release of U.S. July Housing Starts report at 8:30 AM EDT. Consensus was a drop to 1.350 million units from 1.363 million units […]<\/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-179034","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179034","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=179034"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179034\/revisions"}],"predecessor-version":[{"id":179044,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179034\/revisions\/179044"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=179034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=179034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=179034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}