Tech Talk for Friday August 9th 2019

U.S. equity index futures moved lower this morning. S&P 500 futures were down 16 points in pre-opening trade. Index futures responded to continuing weakness to the Chinese Yuan.

Index futures moved slightly lower following release of the U.S. July Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.1% in June. Actual was an increase of 0.2%. Excluding food and energy, consensus for the July Producer Price Index was an increase of 0.2% versus a gain of 0.3% in June. Actual was a decline of 0.1%

The Canadian Dollar plunged 0.46 to 75.34 following release of the July Canadian Employment Report at 8:30 AM EDT. Consensus was an increase of 15,000 versus a decline of 2,200 in June. Actual was a drop of 24,200. Consensus for the July Unemployment Rate was unchanged from June at 5.5%. Actual was an increase to 5.7%.

Uber dropped $3.44 to $39.53 after reporting lower than consensus second quarter revenues and a higher than consensus low. Wedbush lowered its target price to $58 from $65.

Activision Blizzard (ATVI $49.33) is expected to open higher after reporting higher than consensus quarterly revenues and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/08/08/stock-market-outlook-for-august-9-2019/

Don Vialoux on Michael Campbell's Money Talks

Listen to Michael's weekly show tomorrow (Saturday) on CKNW at 8:30-10:00 AM Vancouver time (11:30-1:00 PM Toronto time). Focus is on equity investing for the remainder of 2019. Following is a link:

https://globalnews.ca/radio/cknw/?gref=cknw

StockTwits released yesterday@EquityClock

Saputo $SAP.CA, a TSX 60 stock moved above $40.62 completing a base building pattern.

Inter-Pipeline $IPL.CA, a TSX 60 stock moved above $22.44 extending an intermediate uptrend.

Nickel ETN $JJNTF moved above $19.56 to a 5 year high extending an intermediate uptrend. Good for nickel producer stocks (e.g. VALE). Was discussed this morning on BNNBloomberg

Another abnormally weak June report: Wholesale Sales down 5.6% (NSA), a negative divergence compared to the 1.8% increase that is average for the month. $MACRO #Economy

U.S. Real Estate iShares $IYR moved above $91.22 to an all-time high extending an intermediate uptrend. Units are responding to declining long term interest rates

Trader's Corner

Editor's Note: Note the upward change in short term momentum for a wide variety of equity markets, commodities and sectors.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for August 8th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 8th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 8th 2019

Green: Increase from previous day

Red: Decrease from previous day

Keith Richard's Blog

Following is a link:

https://www.valuetrend.ca/checking-under-the-hood/

S&P 500 Momentum Barometer

The Barometer jumped 14.00 to 50.80 yesterday. It changed to intermediate neutral from intermediate oversold.

TSX Momentum Barometer

The Barometer added 4.06 to 54.27 yesterday. It remains intermediate neutral.

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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