Tech Talk for Friday August 10th 2018

August 10, 2018 / www.timingthemarket.ca / Article Link

U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade. Index futures are responding to an overnight drop by the Turkish Lira by more than 10%.

Index futures were virtually unchanged following release of the July Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.1% in June. Actual was. Excluding food and energy, consensus for the July Consumer Price Index was an increase of 0.2% versus a gain of 0.2% in June. Actual was.

The Canadian Dollar was virtually unchanged at U.S.76.44 after release of the July Canadian Employment Report at 8:30 AM EDT. Consensus was an increase in employment of 17,000 versus a gain of 31,800 in June. Actual was an increase of 54,100. Consensus the Unemployment Rate was a drop to 5.8% from 6.0% in June. Actual was a drop to 5.8%.

Lions Gate (LGF.B $22.21) is expected to open higher after reporting higher than consensus quarterly results.

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Cineplex (CPX $30.30) is expected to open higher after reporting higher than consensus quarterly results.

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Tesla (TSLA $352.45) is expected to open higher after the Board of Directors announced a review to take the company private.

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Campbell Soup (CPB $) dropped 0.88 to $41.40 after JP Morgan downgraded the stock to Underweight from Neutral

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EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/08/09/stock-market-outlook-for-august-10-2018/

Note seasonality charts on the U.S. Producer Price Index, Wholesale Sales, Wholesale Inventories and Japanese Yen Futures.

 

StockTwits Released Yesterday @EquityClock

Cdn.Tire $CTC.A.CA, a TSX 60 stock moved below $168.18 on lower than consensus Q2 results.

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IGM Financial $IGM.CA moved below $37.59, $37.64 and $37.57 setting an intermediate downtrend.

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Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $FAST $FLS. Breakdowns: $BKMG $EL $MUR.

Editor's Note: After 10:00 AM EDT, breakouts included NKE, CTL, EXC and DHI. Breakdowns included PRGO and AIG.

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TMX Group $X.CA moved above $88.23 to an all-time high extending an intermediate uptrend.

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U.S. Telecom iShares $IYZ moved above $28.55 extending an intermediate uptrend.

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Retail SPDRs $XRT moved above $51.04 to an all-time high extending an intermediate uptrend.

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Brookfield Asset Management $BAM $BAM.A.CA, a TSX 60 stock moved above $43.20 U.S. extending an intermediate uptrend.

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Nike $NKE, a Dow Jones Industrial stock moved above $81.00 to an all-time high extending an intermediate uptrend.

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June Wholesale Sales down 3.4% (NSA), while Inventories down 0.1%. Average change for each: +1.8% and +0.4%, respectively. $MACRO #Economy

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PPI for All Commodities up 0.2% in July, more than the 0.1% increase that is average for the month. $MACRO #Economy #Inflation

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Trader's Corner

Equities and Related ETFs

Daily Seasonal/Technical Equity Trends for August 9th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for August 9th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for August 9th 2018

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Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

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The Barometer slipped 1.00 to 68.90 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer added 3.75 to 52.50 yesterday. It remains intermediate neutral and trending down.

 

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Join me at The MoneyShow Toronto, September 14-15, 2018, at the Metro Toronto Convention Centre, where you can meet face-to-face with North America's leading market experts and get answers to your investing and trading questions. The MoneyShow is committed to providing you with one-stop, personal access to 50+ world-renowned experts in the investment and trading industry. The Show will  provide you with non-commercial insights and specific recommendations that will help you create your 2018-2019 investment plan to profit.

When you attend The MoneyShow in Toronto you'll hear top experts' opinions on global markets and the economy; cannabis and cryptocurrencies, stocks, income, and bonds; ETFs, commodities, options, and trading during the 60+ presentations, interactive workshops, live trading demonstrations, and exciting panel discussions. Don’t miss out!

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Attend My Free Presentation(s):

            

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Donald Vialoux

Saturday, September 15, 2018 | 9:15 am – 10:00 am
Timing the Market Using Fundamental, Technical, and Seasonality Analysis

Looking for the investors’ edge? Traditional investment selection starts with fundamental analysis, followed by technical analysis, followed occasionally by seasonality analysis. Investors looking for higher-than-average returns do the opposite: First, they use seasonality analysis to determine…

 

LEARN MORE ABOUT THE MONEYSHOW TORONTO

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Full Schedule

Your free registration will provide you access to a plethora of quality presentations, workshops, panels, and special events, covering a wide variety of the latest investing and trading topics, trends, and projections.

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Exhibit Hall

Experience the interactive Exhibit Hall, where you can meet representatives from 50+ global financial service companies! Test-drive and experience the latest in tools, products, and services available to investors and traders to reach your portfolio goals. 

 

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2018 Speakers

These renowned market experts can help you anticipate the market reaction to the rising US interest rates, and the potential effect on the loonie and the Canadian economy. Analyze the current market environment and determine the hot spots for potential investment opportunities, while discerning the possible long-term consequences of geopolitical turmoil around the globe.

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Hotel Information

Attendees of The MoneyShow Toronto can stay at the 4-diamond InterContinental (R) Toronto Centre Hotel. This contemporary hotel offers the perfect combination of luxury accommodations and convenience, in the heart of the city, just steps from many popular attractions, and only an elevator ride away from the conference.

 

The MoneyShow Toronto, September 14-15, 2018, will be your all-in-one resource for the most comprehensive investment and trading education, providing you with the knowledge you need to trade with confidence and invest for maximum profit! 

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I look forward to seeing you in Toronto!

Sincerely,
Donald Vialoux

 

Disclaimer: Seasonality 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

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