Tech Talk for Friday August 9th 2024

U.S. equity index futures were lower this morning. S&P 500 futures were down 24 points at 8:35 AM EDT.

The Canadian Dollar was unchanged at 72.75 following release of Canada's July Employment Report at 8:30 AM EDT.

Expedia advanced $10.53 to $128.70 after reporting higher than consensus second quarter revenues.

Yelp added $0.49 to $34.00 after reporting higher than consensus second quarter revenues.

Pitney Bowes added $1.52 to $7.20 after reporting a narrower second quarter loss.

Akamai Technologies advanced $5.93 to $97.50 after the company raised its outlook.

EquityClock's Stock Market Outlook for August 9th

The seasonal, technical, and fundamental framework suggests gaining exposure to Natural Gas. See:

https://equityclock.com/2024/08/08/stock-market-outlook-for-august-9-2024/

Technical Notes

Warner Brothers Discovery $WBD a NASDAQ 100 stock moved below $6.94 extending an intermediate downtrend.

Monster Beverages $MNST a NASDAQ 100 stock moved below $47.63 and $47.13 extending an intermediate downtrend.

Canadian Tire $CTC.A.TO a TSX 60 stock moved above $145.21 completing a reverse Head & Shoulders pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 8th 2024

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 8th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 8th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Key moves in dramatic rotation: David Keller

Dramatic Market Rotation: Key Stock Moves & Trends - YouTube

CAUTION! Growth Stocks say "Don’t Trust This Rebound!" Tom Bowley

Editor's Note: See U.S. stock market history on U.S. Presidential Election Year since 1950

CAUTION! Growth Stocks say "Don’t Trust This Rebound!" - YouTube

BTFD Is Back In Markets! Guy Adami and Dan Nathan

BTFD Is Back In Markets! - YouTube

Expect BoC to cut in September and October: Citi’s Clark

Expect BoC to cut in September and October: Citi’s Clark - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer jumped 8.00 to 54.80. It remains Neutral.

The long term Barometer added 6.40 to 69.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer jumped 9.29 to 51.77. It remains Neutral.

The long term Barometer added 5.31 to 70.35. It remains Overbought.

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