Tech Talk for Thursday August 15th 2024

U.S. equity index futures were higher this morning. S&P 500 futures were up 41 points at 8:35 AM EDT

S&P 500 futures added 29 points following release of economic news at 8:30 AM EDT. Consensus for U.S. July Retail sales was a 0.4% increase versus no change in June. Actual was a 1.0% increase. Excluding auto sales, consensus was a 0.1% increase versus a 0.4% increase in June. Actual was a 0.4% increase. Consensus for the August Empire State Manufacturing Survey was an improvement to -5.90 from -6.60 in July. Actual was an improvement to -4.70. Consensus for the August Philly Fed was a drop to a gain of 5.6 from a gain of 13.9 in July. Actual was a drop to -7.00.

Nike gained $3.83 to $82.35 on news that Pershing Square has purchased an interest.

Cisco added $2.54 to $47.98 after reporting higher than consensus fiscal fourth quarter revenues and earnings.

Ulta Beauty jumped $39.75 to $368.80 on news that Berkshire Hathaway has taken a position in the stock.

EquityClock's Stock Market Outlook for Thursday August 15th

The sustainability of the rising intermediate-term trend of stocks is under scrutiny. See:

https://equityclock.com/2024/08/14/stock-market-outlook-for-august-15-2024/

Technical Notes

ARC Resources $ARX.TO a Canadian "gassy" stock moved above Cdn$25.99 to an all-time high extending an intermediate uptrend.

Sun Life Financial $SLF.TO a TSX 60 stock moved above Cdn$69.73 completing a double bottom pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August14th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for August 14th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August14th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

The GROWTH Trade IS BACK!! David Keller Note comment on seasonality

https://www.youtube.com/watch?v=RLLml_s9mCs

How ATR Analysis Can Make You a BETTER Trader! Joe Rabil

https://www.youtube.com/watch?v=tkn0C4Ydw3A

Chart of the Day: TSX Financial iShares (XFN.TO)

Technical score increased from +2 to +4. Seasonal influences are positive until September 30th

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.00 to 60.00. It changed from Neutral to Overbought on a move to 60.00. Daily momentum is up.

The long term Barometer slipped 0.60 to 69.20. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 3.54 to 62.39. It changed from Neutral to Overbought on a move above 60.00.

The long term Barometer added 2.21 to 74.34. It remains Overbought.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com 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