Tech Talk for Thursday August 22nd 2019

U.S. equity index futures moved higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

Index futures were virtually unchanged following release of the Weekly Initial Jobless Claims report. Consensus was 216,000 versus revised 221,000 last week. Actual was.209,000

Canadian Imperial Bank of Commerce (CM $99.50 Cdn) is expected to open higher after releasing higher than consensus fiscal third quarter earnings. The Bank also raised its dividend.

Nordstrom jumped $3.00 to $29.54 after reporting higher than consensus second quarter earnings.

Teck Corp (TECK.B $21.81 Cdn) is expected to open lower after B. Riley FBR lowered its target price to $40 from $44 Cdn.

Target gained $1.40 to $104.40 after CFRA and Stiffel Nicolaus raised their target price on the stock. Also, Citigroup upgraded the stock to Buy from Neutral.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/08/21/stock-market-outlook-for-august-22-2019/

Note seasonality charts on the Consumer Discretionary sector and U.S. Existing Home Sales.

StockTwits released yesterday @EquityClock

Target $TGT moved above $88.83 to an all-time high following release of higher than consensus second quarter sales and earnings.

Lowe’s Companies $LOW moved above $107.73 setting an intermediate uptrend following release of better than consensus second quarter sales and earnings.

Canadian Technology iShares $XIT.CA moved above $27.47 to an all-time high extending an intermediate uptrend.

Home Depot $HD, a Dow Jones Industrial stock moved above $219.30 to an all-time high extending an intermediate uptrend.

Merck $MRK, a Dow Jones Industrial stock moved above $87.07 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for August 21st 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 21st 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 21st 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 4.20 to 44.60 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer slipped 2.16 to 44.83 yesterday It remains intermediate neutral.

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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