Tech Talk for Friday August 3rd 2018
Equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for July Non-farm Payrolls was 193,000 versus an upwardly revised 248,000 in June. Actual was 157,000. Consensus for July Unemployment Rate was a slip to 3.9% from 4.0% in June. Actual was a slip to 3.9%. Consensus for July Hourly Earnings was an increase of 0.3% versus a gain of 0.2% in June. Actual was an increase of 0.3%. Consensus for June Trade Deficit was $46.0 billion versus $43.1 billion in May. Actual was $46.3 billion.
The Canadian Dollar moved slightly higher to U.S. 76.92 cents following release of the June Merchandise Trade report at 8:30 AM EDT. Consensus was a deficit of $2.3 billion versus a deficit of $2.8 billion in May. Actual was a deficit of $630 million.
Symantec plunged $2.28 to $18.60 after reporting lower than consensus quarterly results. The company also lowered its guidance.
CBS (CBS $52.72) is expected to open lower after reporting lower than consensus second quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0021-2.png "clip_image002[1]")
American International Group dropped $2.21 to $52.95 after reporting lower than consensus second quarter earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0031-2.png "clip_image003[1]")
Callaway Gold gained $1.48 to $21.10 after reporting higher than consensus second quarter results.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0041-2.png "clip_image004[1]")
Next Tech Talk report
Tech Talk will be publishing over the Canadian August provincial holiday weekend with Next report being released on Monday August 6th
Observations
U.S. natural gas inventories are setting new five year lows for this time of year (and the potential impact of hurricane season on Gulf coast production has yet to surface).
Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2013 through 2017. The dashed vertical lines indicate current and year-ago weekly periods.
StockTwits Released Yesterday @EquityClock
United Kingdom iShares $EWU moved below $34.19 extending an intermediate downtrend.
Rio Tinto $RIO moved below $52.98 extending an intermediate downtrend.
Nutrien $NTR $NTR.CA, a TSX 60 stock moved above $54.77 and $55.29 U.S. to a 3 year high extending an intermediate uptrend.
Gildan Activewear $GIL.CA, a TSX 60 stock moved above $38.27 and $39.33 setting an intermediate uptrend.
Tech action by S&P 500 stocks to 10:00: Bearish. Breakouts: $CLX $REGN $CF. Breakdowns: $MGM $$TRIP $WYMM $K $HFC $WLTW $ICE $UNUM $CTSH $NEM
Editor's Note: After 10:00 AM EDT, breakouts included ECL, EQIX, MO and DVA. Breakdowns included FMC and SEE.
Wheat ETN $WEAT moved above $7.09 setting an intermediate uptrend.
New Flyer Industries $NFI.CA moved above $50.97 setting intermediate uptrend.
National Bank $NA.CA, a TSX 60 stock moved above $64.42 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equities and Related ETFs
Daily Seasonal/Technical Equity Trends for August 2nd 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 2nd 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 2nd 2018
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer added 0.80 to 64.00 yesterday. It remains intermediate overbought and rolling over.
TSX Momentum Barometer
The Barometer added 2.50 to 53.75 yesterday. It remains intermediate neutral and
trending down.
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![clip_image018[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0181.png "clip_image018[1]"){kind=small}
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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