{"id":179267,"date":"2024-08-23T02:22:00","date_gmt":"2024-08-23T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=179267"},"modified":"2024-08-23T08:47:08","modified_gmt":"2024-08-23T12:47:08","slug":"tech-talk-for-friday-august-23rd-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/08\/23\/tech-talk-for-friday-august-23rd-2024\/","title":{"rendered":"Tech Talk for Friday August 23rd 2024"},"content":{"rendered":"

Pre-opening Comments for Friday August 23rd<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 28 points at 8:30 AM EDT.<\/em><\/p>\n

Federal Reserve Chairman is scheduled to speak at the Jackson Hole Symposium at 10:00 AM EDT.<\/b> Look for guidance on the FOMC\u2019s interest rate policy.<\/em><\/p>\n

Intuit dropped $5.29 to $660.00<\/b> despite reporting higher quarterly results. The company also announced a round of layoffs. <\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Workday<\/b> advanced $25.05 to $256.13 after the company offered a better than consensus outlook.<\/em><\/p>\n

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Ross Stores<\/b> gained $8.60 to $161.12 after reporting higher than consensus second quarter earnings.<\/em><\/p>\n

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Cava <\/b>advanced $9.19 to $111.17 after offering guidance above consensus. <\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for August 23rd<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

The outside reversal candlestick in the technology sector on Thursday threatens a short-term peak and an intermediate-term topping pattern as volatility starts ramping up again.<\/em><\/b><\/p>\n

See: <\/em><\/p>\n

https:\/\/equityclock.com\/2024\/08\/22\/stock-market-outlook-for-august-23-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

The VIX Index is rising again,<\/b> moving above its 50 day moving average.<\/p>\n

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Capped REIT S&P\/TSE iShares<\/b> $XRE.TO moved above Cdn$16.24 extending an intermediate uptrend.<\/p>\n

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Eli Lilly<\/b> $LLY an S&P 100 stock moved above $964.72 to an all-time high extending an intermediate uptrend.<\/p>\n

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Meta Platform<\/b> $META an S&P 100 stock moved above $542.81 to an all-time high extending an intermediate uptrend.<\/p>\n

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Zoom<\/b> $ZM a NASDAQ 100 stock moved above $62.22 and $65.40 setting an intermediate uptrend. Responding to better than consensus quarterly results!<\/p>\n

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NetEase <\/b>$NTES a NASDAQ 100 stock moved below $86.01 extending an intermediate downtrend.<\/p>\n

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 <\/p>\n

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

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 <\/p>\n

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

Daily Seasonal\/Technical Equity Trends for August 22nd<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for August 22nd<\/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 22nd<\/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

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

Looking for the Next Entry Point in SPY? USE RSI!<\/b><\/p>\n

Looking for the Next Entry Point in SPY? USE RSI! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

\u2018Risk Is Back on\u2019 for Investors, Says CFRA\u2019s Sam Stovall<\/b><\/p>\n

\u2018Risk Is Back on\u2019 for Investors, Says CFRA\u2019s Sam Stovall \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

How a rail strike could paralyze Canada\u2019s economy | About That<\/b><\/p>\n

How a rail strike could paralyze Canada\u2019s economy | About That \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

2 Best Healthcare Stocks for August 2024: David Keller<\/b><\/p>\n

2 Best Healthcare Stocks for August 2024 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Expect Market Volatility? Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

Expect Market Volatility? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 2.00 to 72.80. It remains Overbought.<\/p>\n

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The long term Barometer dropped 1.20 to 75.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 5.31 to 64.60. It remains Overbought.<\/p>\n

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

The long term Barometer added 0.44 to 74.78. 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 Friday August 23rd U.S. equity index futures were higher this morning. S&P 500 futures were up 28 points at 8:30 AM EDT. Federal Reserve Chairman is scheduled to speak at the Jackson Hole Symposium at 10:00 AM EDT. Look for guidance on the FOMC\u2019s interest rate policy. Intuit dropped $5.29 to $660.00 […]<\/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-179267","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179267","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=179267"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179267\/revisions"}],"predecessor-version":[{"id":179277,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179267\/revisions\/179277"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=179267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=179267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=179267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}