U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Investors are waiting for an update on U.S. monetary policy by Federal Reserve chairman Jerome Powell at the Jackson Hole Symposium at 10:00 AM EDT.
U.S. index futures were virtually unchanged following release of July Personal Income and July Personal Spending at 8:30 AM EDT. Consensus for July Personal Income was an increase of 0.3% versus a gain of 0.5% in June. Actual was a gain of 1.1% . Consensus for July Personal Spending was an increase of 0.4% versus a gain of 0.5% in June. Actual was .a gain of 0.3%.
Peloton plunged $15.05 to 99.11 after reporting a larger than consensus fourth quarter loss.
Workday added $8.04 to 254.80 after reporting higher than consensus second quarter revenues and earnings.
Hewlett Packard dropped $0.65 to $28.45 after reporting less than consensus third quarter revenues.
Gap Stores added $2.15 to $28.50 after the company reported higher than consensus second quarter revenues and earnings. The company also offered positive guidance.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/08/26/stock-market-outlook-for-august-27-2021/
Technical Notes released yesterday at
StockTwits.com
While the VIX continues to show a trend of lower-highs, seasonal tendencies suggest that we should expect higher values before the quarter is complete. equityclock.com/2021/08/25/… $VIX $VXX $SVXY
Dollar Tree $DLTR a NASDAQ 100 stock moved below $61.55 resuming an intermediate downtrend.
Mondelez $MDLZ an S&P 100 stock moved below $61.55 completing a Head & Shoulders pattern
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 26th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 26th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 26th 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 5.68 to 63.86 yesterday. It remains Overbought.
The long term Barometer dropped 3.85 to 80.12 yesterday. It remains Extremely Overbought.
TSX Momentum Barometers
The intermediate term Barometer slipped 1.46 to 50.73 yesterday. It remains Neutral.
The long term Barometer eased 0.98 to 69.76 yesterday. It remains Overbought.
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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