U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
Index futures were virtually unchanged following release of the first estimate of second quarter real GDP. Consensus was growth at a 4.0% rate versus an upwardly revised 2.2% in the first quarter. Actual was 4.1%.
Second quarter reports continue to pour in. Another 19 S&P 500 companies reported results since the close yesterday.
Amazon gained $80.00 to $1888 after reporting higher than consensus second quarter results. JP Morgan and SunTrust raised their target price on the stock.
![clip_image001[1] clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image0011_thumb-6.png)
Intel plunged $3.33 to $48.88 despite reporting higher than consensus second quarter sales and earnings. However, data center sales were less than expected.
![clip_image002[1] clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image0021_thumb-7.png)
Amgen added $1.95 to $196.00 after reporting higher than consensus second quarter results.
![clip_image003[1] clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image0031_thumb-7.png)
Twitter plunged $4.64 to $38.30 despite reporting higher than consensus second quarter sales and earnings. The stock responded to an unexpected decline in subscriptions.
![clip_image004 clip_image004](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image004_thumb-17.png)
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/07/26/stock-market-outlook-for-july-27-2018/
Note seasonality charts on Durable Goods Orders and the PHLX Gold/Silver Index
StockTwits Released Yesterday @EquityClock
US Durable Goods Orders running 6.9% above average through the first half of the year. $MACRO #Economy #Manufacturing
![clip_image001 clip_image001](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image001_thumb-16.png)
Technical Action by S&P 500 stocks yesterday
Extraordinary action yesterday on the upside and downside: 17 intermediate breakouts and 13 breakdowns. Breakouts included DHI, HSY, KMB, XOM, AON, CB, KEY, A, UHS, FLR, LLL, MMM, AMD, QCOM, XLNX, APD and AEE. Breakdowns included MHK, MCD, PHM, SYF, BIIB, EFX, NLSN, RTN, FB, MLM, IP, WRK and PKG.
![clip_image002 clip_image002](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image002_thumb-16.png)
![clip_image003 clip_image003](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image003_thumb-15.png)
Trader's Corner
Daily Seasonal/Technical Equity Trends for July 26th 2018
![clip_image005 clip_image005](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image005_thumb-11.png)
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for July 26th 2018
![clip_image007 clip_image007](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image007_thumb-12.png)
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for July 26th 2018
![clip_image009 clip_image009](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image009_thumb-9.png)
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image010 clip_image010](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image010_thumb-10.png)
The Barometer added 5.60 to 73.20 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
![clip_image011 clip_image011](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image011_thumb-10.png)
The Barometer gained 2.09 to 55.23 yesterday. It remains intermediate neutral and trending down.
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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