Tech Talk for Thursday August 17th 2023
Equity index futures were higher this morning. S&P 500 futures were up 10 points at 8:35 AM EDT
Index futures were unchanged following release of the August Philly Fed Index at 8:30 AM EDT. Consensus was a further drop to -13.5 from -10.0 in July. Actual was an increase of 12.0.
Walmart added $2.61 to $161.87 after reporting higher than consensus second quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/08/clip_image0011-9.png "clip_image001[1]")
Cisco gained $1.56 to $54.52 after reporting higher than consensus fiscal fourth quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/08/clip_image0021-8.png "clip_image002[1]")
Avnet advanced $3.55 to $48.50 after reporting higher than consensus fiscal fourth quarter earnings. The company offered positive guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/08/clip_image0031-8.png "clip_image003[1]")
Synopsys added $9.78 to $437.99 after reporting higher than consensus fiscal third quarter earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/08/clip_image0041-7.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "A spike in the put-call ratio into the end of the day could be conducive to a short-term low in stocks ahead of the typically strong period surrounding the Labor Day holiday".
http://www.equityclock.com/2023/08/16/stock-market-outlook-for-august-17-2023/
Technical Notes
Gold ETN $GLD moved below $175.79 extending an intermediate downtrend.
Junior Gold ETF $GDXJ moved below $33.95 extending an intermediate downtrend.
Pacific ex Japan iShares $EPP moved below $40.22 extending an intermediate downtrend.
Automobile ETF $CARZ moved below intermediate support at $53.34
Semiconductor iShares $SOXX moved below intermediate support at $482.51.
Altria $MO an S&P 100 stock moved below $42.81 completing a double top pattern.
Capital One $COF an S&P 100 stock moved below intermediate support at $104.59.
Enbridge $ENB.TO a TSX 60 stock moved below $46.80 extending an intermediate downtrend.
Restaurant Brands International $QSR.TO a TSX 60 stock moved below Cdn$95.48 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 16th 2023
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 16th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 16th 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Stars are Aligning for Uranium and Nuclear Energy
Sprott Uranium Report: Stars are Aligning for Uranium and Nuclear Energy
Top Three Things I Wish I Knew Before I Started Trading | The Final Bar (08.15.23)
Top Three Things I Wish I Knew Before I Started Trading | The Final Bar (08.15.23) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped another 5.00 to 41.40. It remains Neutral. Daily trend remains down.
The long term Barometer dropped 2.20 to 56.00. It remains Neutral. Daily trend remains down.
TSX Momentum Barometers
Intermediate term Barometer was unchanged at 42.73. It remains Neutral. Daily trend remains down.
The long term Barometer slipped 0.88 to 49.34. It remains Neutral. Daily trend remains down.
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
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