U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade.
Index futures were virtually unchanged following release of the August Philly Fed report at 8:30 AM EDT. Consensus was a drop of 5.0 versus a decline of 12.3 in July. Actual was an increase of 6.2%
Cisco advanced $1.55 to $48.16 after reporting higher than consensus fiscal fourth quarter revenues and earnings.
Apple added $1.52 to $174.55 after announcing plans to launch new products on September 7th including the iPhone 14.
Kohl's dropped $2.95 to $31.00 after reporting less than consensus second quarter revenues and earnings.
Este Lauder declined $4.92 to $271.60 after reporting less than consensus fiscal fourth quarter results.
EquityClock's Daily Comment
Headline reads "Waning demand and inventories that are out of control point to a consumer economy that threatens to bring upon a recession".
http://www.equityclock.com/2022/08/17/stock-market-outlook-for-august-18-2022/
Technical Notes for yesterday
Loblaw Companies $L.TO a TSX 60 stock moved above $123.18 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 17th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 17th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 17th 2021
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Links from Mark Bunting and www.uncommonsenseinvestor.com
Five Reasons the Market Hasn’t Hit Bottom – Uncommon Sense Investor
Three Signals That Prove a New Bull Market for Stocks Has Begun – Uncommon Sense Investor
Market Buzz by Greg Schnell
Why Energy Investing Is So Hard | Greg Schnell, CMT | Market Buzz (08.17.22) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.40 to 91.60 yesterday. It remains Overbought.
The long term Barometer dropped 2.80 to 48.40 yesterday. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer dropped 5.04 to 68.49 yesterday. It remains Overbought and showing early short term signs of rolling over.
The long term Barometer was unchanged at 48.22 yesterday. It remains Neutral.
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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