Tech Talk for Friday August 12th 2022
U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade.
Illumina dropped $44.45 to $182.99 after reporting lower than consensus second quarter earnings. The company also lowered guidance.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0011-7.png "clip_image001[1]")
Blackrock added $1.95 to $730.60 after Deutsche Bank raised its target price from $720 to $860
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0021-8.png "clip_image002[1]")
Toast advanced $2.36 to $20.57 after JP Morgan raised its target price from $15 to $21.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0031-6.png "clip_image003[1]")
Tilray was unchanged at $3.85 after MKM Partners lowered its target price from $8 to $5.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0041-5.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "The recent uptick in energy commodity prices from levels of significant support risk re-flaring inflationary concerns in the market". Following is a link:
http://www.equityclock.com/2022/08/11/stock-market-outlook-for-august-12-2022/
Technical Notes for yesterday
S&P 500 Equal Weight ETF $RSP moved above $149.63 extending an intermediate uptrend.
S&P Mid-cap SPDRs $MDY moved above $467.52 extending an intermediate uptrend.
South Africa iShares $EZA moved above intermediate resistance at $44.93.
Walt Disney $DIS a Dow Jones Industrial Average stock moved above intermediate resistance at $112.85.
Fox $FOX an S&P 100 stock moved above $32.78 and $32.97. $FOXA moved above $35.55 and $35.78 completing reverse Head & Shoulders patterns.
Dupont $DD an S&P 100 stock moved above $61.47 extending an intermediate uptrend.
Capital One Financial $COF an S&P 100 stock moved above $114.29 extending an intermediate uptrend.
US Bancorp $USB an S&P 100 stock moved above $48.50 extending an intermediate uptrend.
Algonquin Power $AQN.TO a TSX 60 stock moved above $18.58 extending an intermediate uptrend.
CAE $CAE.TO a TSX 60 stock moved below $27.27 extending an intermediate downtrend. Six analysts lowered their target price on the stocks after quarterly results were released.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 11th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 11th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 11th 2021
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.80 to 86.00 yesterday. It remains Overbought. Trend remains up.
The long term Barometer added 0.60 to 42.60 yesterday. It remains Neutral. Trend remains up.
TSX Momentum Barometers
The intermediate term Barometer added 4.20 to 71.43 yesterday. It remains Overbought. Trend remains up.
The long term Barometer added 2.10 to 42.86 yesterday. It remains Neutral. Trend remains up.
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
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