Tech Talk for Friday July 13th 2018
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
JP Morgan gained $0.92 to $107.77 after reporting higher than consensus second quarter earnings.
Citigroup eased $0.91 to $67.60 after reporting lower than consensus second quarter revenues.
Wells Fargo dropped $1.55 to $54.48 after reporting lower than consensus second quarter revenues.
Delta Airlines slipped $0.03 to $50.70 after Stifel Nicolaus lowered its target price to $95 from $100.
AT&T dropped $0.48 to $31.75 after Raymond James downgraded the stock from Outperform to Market Perform
Johnson & Johnson dropped $2.48 after the company was hit with a $4.7 judgement related to talc based products.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/07/12/stock-market-outlook-for-july-13-2018/
Note seasonality charts on the Dow Jones Industrial Average and the U.S. Consumer Price Index
Observations
Technology stocks and related ETFs led strength in equity markets yesterday on both sides of the border. Technology SPDRs and TSX Technology ETF broke to all-time highs.
Sugar prices continue to collapse. Yesterday, the Sugar ETN broke support at $21.38 to reach an all-time low.
StockTwits Released Yesterday @EquityClock
Amazon.com $AMZN, a Dow Jones Industrial stock moved above $1763.10 to an all-time high extending an intermediate uptrend.
Microsoft $MSFT, a Dow Jones Industrial stock moved above $102.69 to an all-time high extending an intermediate uptrend.
Tech action by S&P 500 stocks to 10:00: Bullish. Breakouts: $AMZN $CTAS $CA $EA $FISV $MSFT $TSS $VRSN $ATVI $BLL $PYPL $MNK. Breakdown: $AVGO
Editor's Note: After 10:00 AM EDT, intermediate breakouts included MCO, CMCSA, CTXS and WM. Breakdowns included AFL and IVZ.
George Weston $WN.CA, a TSX 60 stock moved above $108.28 extending a Reverse Head & Shoulders pattern.
Loblaws $L.CA has an identical technical pattern to Weston $WN.CA: extending a Reverse Head & Shoulders pattern.
Technology SPDRs $XLK moved above $72.17 to an all-time high extending an intermediate uptrend.
Editor's Note: Ditto for the NASDAQ Composite Index!
US #CPI up 0.2% (NSA) In June, inline with the average change for the month. $MACRO #Economy #Inflation
Celestica $CLS.CA moved above $16.21 Cdn. extending an intermediate uptrend.
Trader's Corner
Daily Seasonal/Technical Equity Trends for July 12th 2018
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for July 12th 2018
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for July 12th 2018
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer gained 5.60 to 66.60 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer added 2.08 to 63.75 yesterday. It remains intermediate overbought.
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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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