Tech Talk for Thursday August 1st 2019

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 Weekly Jobless Claims report at 8:30 AM EDT. Consensus was an increase to 213,000 from revised 207,000 last week. Actual was 215,000.

Shopify advanced $23.69 to $341.57 after reporting higher than consensus second quarter earnings. The company also raised guidance.

Yum Brands added $4.63 to $117.15 after reporting higher than consensus second quarter earnings.

Archer Daniel Midland slipped $0.54 to $40.54 after reporting lower than consensus second quarter earnings.

Verizon gained $0.69 to $55.96 after reporting higher than consensus second quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/07/31/stock-market-outlook-for-august-1-2019/

Note seasonality charts on S&P 500 Index and Canadian GDP.

Jon Vialoux on BNN Bloomberg's Market Call Tonight

Market outlook

https://www.bnnbloomberg.ca/video/jon-vialoux-s-market-outlook~1742714

Past picks

https://www.bnnbloomberg.ca/video/jon-vialoux-s-past-picks~1742747

Top Picks

https://www.bnnbloomberg.ca/video/jon-vialoux-s-top-picks~1742785

Responses to the Federal Reserve news at 2:00 PM EST

The Federal Reserve reduced the Fed Fund rate by 0.25% as expected at 2:00 PM EDT

U.S. equity indices dropped sharply.

U.S. Dollar ETN soared

Long term Treasury bond prices moved higher

Gold prices moved lower

Volatility spiked

StockTwits released yesterday @EquityClock

Apple $AAPL moved above $214.48 on higher than consensus quarterly results and positive guidance extending an intermediate uptrend.

ADP $ADP, a NASDAQ 100 stock moved above $170.45 to an all-time high extending an intermediate uptrend.

Solar ETF $TAN moved above $29.38 to a three year high extending an intermediate uptrend.

Corn ETN $CORN moved below $16.09 completing a Head & Shoulders pattern.

Soybean ETN $SOYB moved below $15.24 setting an intermediate downtrend

Canadian energy stocks strongly recovering from deeply oversold levels on higher crude oil and natural gas prices. $ARX.CA

Canada GDP up 1.6% (NSA) in May, stronger than the 1.0% increase that is average for this time of year. $MACRO #CAD #CDNecon

#Oil inventories now lower on the year following another substantial drawdown in the previous

week. $USO $CL_F $XLE $XOP

Symantec $SYMC, a NASDAQ 100 stock moved below $21.56 setting an intermediate downtrend

U.S. Dollar Index at 98.49 following Fed news moved above 98.26 to a two year high extending an intermediate uptrend. $USD.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 31st 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for July 31st 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 31st 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped 7.60 to 68.00 yesterday. It remains intermediate overbought and is trending down.

TSX Momentum Barometer

The Barometer eased 0.68 to 60.78 yesterday. It remains intermediate overbought and showing early signs of rolling over.

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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