Tech Talk for Friday August 25th 2023
U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 8:30 AM EDT.
Investors are waiting for a statement on FOMC interest rate expectations to be presented today by Federal Reserve Chairman Powell at the Jackson Hole symposium.
Affirm added $0.97 to $14.80 after reporting higher than consensus fiscal first quarter results.
The company also raised guidance for the fiscal first quarter.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/08/clip_image0011-14.png "clip_image001[1]")
Intuit dropped $10.90 to $487.60 despite reporting higher than consensus quarterly revenues and earnings. The company also lowered guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/08/clip_image0021-13.png "clip_image002[1]")
Nordstrom eased $0.48 to $16.34 despite reporting higher than consensus second quarter revenues and earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/08/clip_image0031-12.png "clip_image003[1]")
EquityClock's Daily Comment
Headline reads "Active managers reduced their exposure to stocks by the second most amount on record over a three week period".
https://equityclock.com/2023/08/24/stock-market-outlook-for-august-25-2023/
Technical Notes
Splunk $SPLK a NASDAQ 100 stock moved above $112.03 extending an intermediate uptrend.
The company reported higher than consensus quarterly results.
Walt Disney $DIS a Dow Jones Industrial Average stock moved below $85.16 and $84.07 extending an intermediate downtrend.
Dollar Tree $DLTR a NASDAQ 100 stock moved below $128.85 extending an intermediate downtrend.
Lululemon $LULU a NASDAQ 100 stock moved below $368.76 completing a double top pattern.
DexCom $DXCM a NASDAQ 100 stock moved below $102.50 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 24th 2023
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 24th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 23rd 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
The Top 3 Reasons Why THIS Is My Favorite Entry Trigger | Stock Talk (08.24.23)
https://www.youtube.com/watch?v=xr24Bm-ozz0
Perspective: Looking At Monthly Charts | Tom Bowley | Trading Places (08.24.23)
https://www.youtube.com/watch?v=4GXSEGnunAk
S&P 500 Momentum Barometers
The intermediate term Barometer plunged 6.40 to 31.20. It remains Oversold. Daily downtrend resumed.
The long term Barometer dropped 1.60 to 50.40. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer plunged 8.37 to 35.68. It remains Oversold. Daily downtrend resumed.
The long term Barometer dropped 3.08 to 46.26. It remains Neutral.
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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