Tech Talk for Friday July 24th 2020

Intel (INTC), a Dow Jones Industrial stock moved below $56.76 setting an intermediate downtrend. The stock responded to lower than consensus third quarter guidance.

Pre-opening Comments for Friday July 24th

U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade.

Intel dropped $8.16 to $52.24 after lowering third quarter guidance. Mizuho and Susquehanna lowered their price target on the stock.

Disney eased $2.67 to $115.45 after announcing delays of release on new films.

American Express fell $1.17 to $95.50 after reporting lower than consensus second quarter revenues.

Mattel added $0.52 to $12.15 after reporting higher than consensus second quarter revenues and earnings.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/07/23/stock-market-outlook-for-july-24-2020/

Don Vialoux on Michael Campbell's Money Talks

Listen to the radio broadcast tomorrow (Saturday) on www.cknw.com between 8:30 AM and 10:00 AM Vancouver time (11:30 AM and 1:00 PM Toronto time)

Technical Note for July 23rd

MasterCard (MS), an S&P 100 stock moved above $315.64 extending an intermediate uptrend.

Cintas (CTAS), a NASDAQ 100 stock moved above $292.11 and $304.81 to an all-time high extending an intermediate uptrend.

Copart (CPRT), a NASDAQ 100 stock moved above $92.65 extending an intermediate uptrend.

O'Reilly Automative (ORLY), a NASDAQ 100 stock moved above $454.31 to an all-time high extending an intermediate uptrend.

Trader's Corner

Editor's Note: Short term momentum indicators (daily MACD, Stochastics, RSI) moved lower

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 23rd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for July 23rd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 1.00 to 82.36 yesterday. It remains extremely intermediate overbought.

TSX Momentum Barometer

The Barometer dropped 6.28 to 75.36 yesterday. It changed from extremely intermediate overbought to intermediate overbought on a move below 80.00. Early signs of a short term rollover have appeared.

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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