Tech Talk for Thursday August 22nd 2024
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points at 8:30 AM EDT.
Synopsys gained $4.43 to $569.11 after reporting higher than consensus fiscal third quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/08/clip_image0011-11.png "clip_image001[1]")
Zoom added $1.10 to $60.23 after reporting higher than consensus second quarter results. The company also offered positive guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/08/clip_image0021-10.png "clip_image002[1]")
Charles Schwab dropped $3.22 to $61.35 on news that Toronto Dominion Bank sold 40.5 million shares reducing its interest to 10.1%.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/08/clip_image0031-9.png "clip_image003[1]")
Toronto Dominion Bank is expected to open lower after reporting lower than consensus fiscal third quarter earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/08/clip_image0041-7.png "clip_image004[1]")
EquityClock's Stock Market Outlook for August 22nd
It is highly abnormal to see the price of oil around the lows of the year during this typically upbeat period for demand in the summer months. See:
https://equityclock.com/2024/08/21/stock-market-outlook-for-august-22-2024/
Technical Notes
iShares EAFE $EFA moved above $81.87 to an all-time high extending an intermediate uptrend.
iShares Europe $IEV moved above $57.12 to an all-time high extending an intermediate uptrend.
S&P 100 and NASDAQ 100 stocks breaking to all-time highs include Coca Cola on a move above $69.67, Philip Morris International on a move $119.06, Ross Stores on a move above $153.06, Texas Instruments on a move above $209.48, IBM on a move above $195.46 and DR Horton on a move above $185.43.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 21st 2024
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 21st 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 21st 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Top Picks For August: Two Consumer Staples With Potential: David Keller
Top Picks For August: Two Consumer Staples With Potential - YouTube
Dan Niles on Mag7 Guidance + Nvidia Earnings Preview
Dan Niles on Mag7 Guidance + Nvidia Earnings Preview - YouTube
Chart Check on Gold, Dollar, Bitcoin & Oil: Guy Adami, Dan Nathan and Carter Worth
Chart Check on Gold, Dollar, Bitcoin & Oil - YouTube
Investors should shift more towards quality within their equity portfolios: JPMorgan’s Jack Caffrey
Case for Rate Cut Made in FOMC Minutes
Case for Rate Cut Made in FOMC Minutes - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 4.20 to 74.80. It remains Overbought. Daily uptrend continues.
The long term Barometer added 2.40 to 76.80. It remains Overbought. Daily uptrend continues.
TSX Momentum Barometers
The intermediate term Barometer added 3.10 to 69.91. It remains Overbought. Daily uptrend was extended.
The long term Barometer added 1.33 to 74.34. It remains Overbought.
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
| More from the network: |