Tech Talk for Friday July 17th 2020
Paccar (PCAR), a NASDAQ 100 stock moved above $79.48 extending an intermediate uptrend.
![clip_image001[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0013-3.png "clip_image001[3]")
Global Timber iShares (WOOD) moved above $58.93 extending an intermediate uptrend.
![clip_image002[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0023-3.png "clip_image002[3]")
Magna International (MG), a TSX 60 stock moved above Cdn.$64.70 extending an intermediate uptrend.
![clip_image003[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0033-2.png "clip_image003[3]")
Pre-opening Comments for Friday July 17th
U.S. equity index futures were higher this morning. S&P 500 futures gained 20 points in pre-opening trade.
Index futures were virtually unchanged following release of the U.S. June Housing Starts report at 8:30 AM EDT. Consensus was an increase to 1.150 million units from 0.974 million units in May. Actual was 1.186 million units.
Netflix dropped $48.10 to $479.29 after reporting less than consensus second quarter earnings. In addition, third quarter guidance was less than consensus.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0011-11.png "clip_image001[1]")
JB Hunt added $5.33 to $137.88 after reporting higher than consensus second quarter sales and earnings. Target price was raised by Deutsche Bank from $98 to 140.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0021-11.png "clip_image002[1]")
PPG Industries gained $3.74 to $119.00 after reporting higher than consensus second quarter sales and earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0031-9.png "clip_image003[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/07/16/stock-market-outlook-for-july-17-2020/
Note seasonality chart on U.S. Retail Trade.
Technical Notes
Home Builders ETF (XHB) moved above $46.60 extending an intermediate uptrend.
KraftHeinz (KHC), an S&P 100 stock moved above $34.00 extending an intermediate uptrend.
Caterpillar (CAT), a Dow Jones Industrial Average stock moved above $139.94 extending an intermediate uptrend.
Canadian Pacific (CP), a TSX 60 stock moved above $363.58 and $363.77 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for July 16th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for July 16th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 16th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer slipped 3.01 to 79.75 yesterday. It changed from extremely intermediate overbought to intermediate overbought on a move below 80.00.
TSX Momentum Barometer
The Barometer slipped 3.25 to 83.73 yesterday. It remains extremely intermediate 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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