U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.
The Canadian Dollar added 0.28 to U.S. 76.40 cents following release of Canada's July Consumer Price Index. Consensus was a year-over-year increase of 2.5%. Actual was an increase of 3.0%.
NVIDIA fell $6.64 to $251.00 after reporting lower than consensus quarterly sales. The company also lowered its guidance.
Nordstrom gained $4.52 to $56.80 after reporting higher than consensus second quarter results.
Applied Materials (AMAT $47.43) is expected to open lower after lowering its guidance.
Deere (DE $137.35) is expected to open lower after reporting lower than consensus fiscal third quarter results. The company also lowered its guidance.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/08/16/stock-market-outlook-for-august-17-2018/
Note seasonality charts on U.S. Housing Starts, Philly Fed and Sales of Manufactured Goods.
StockTwits Released Yesterday @EquityClock
Cisco $CSCO, a Dow Jones Industrial stock moved above $46.01 to an 18 year high on an earnings report extending an intermediate uptrend.
Telus $T.CA, a TSX 60 stock moved above $48.38 to an all-time high extending an intermediate uptrend.
Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $DRI $CVS $CSCO. No breakdowns.
Editor's Note: After 10:00 AM EDT, breakouts included WBA, PGR VNO, DFS and FE. Breakdown: GOOG.
Walgreen Boots $WBA, a Dow Jones Industrial stock moved above $69.53 extending an intermediate uptrend.
Power Financial $PWF.CA moved above $31.28 completing a double bottom pattern.
Alphabet C $GOOG, one of the FAANG stocks moved below $1204.79 completing a double top pattern.
Canada Manufacturing Sales up 16.2% in the first half of the year, a full three percent above average. $MACRO #CDNecon #CAD
Philadelphia #Manufacturing Business Outlook Index showing +8.5 (NSA) in August, below +10.6 that is average for the month. $MACRO #Economy
Trader's Corner
Equities and Related ETFs
Daily Seasonal/Technical Equity Trends for August 16th 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 16th 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 16th 2018
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer gained 5.60 to 63.60 yesterday. It returned to an intermediate overbought level from an intermediate neutral level, but continues to trend down.
TSX Momentum Barometer
The Barometer gained 3.73 to 48.96 yesterday. It remains intermediate neutral and continues to trend down.
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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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