Tech Talk for Thursday August 23rd 2018

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 215,000 from 212,000 last week. Actual was 210,000.

Canadian Imperial Bank of Commerce (CM $121.73 Cdn) is expected to open higher after the Bank reported a 25% year-over-year increase in fiscal third quarter earnings, higher than consensus. The Bank also increased its dividend.

Alibaba added $7.96 to $185.81 after reporting strong fiscal first quarter earnings.

Hormel Foods (HRL $38.51) is expected to open lower after reporting lower than consensus fiscal third quarter earnings.

Lowe's added $0.48 to $106.00 after SunTrust and Raymond James raised their target price on the stock.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/08/22/stock-market-outlook-for-august-23-2018/

Note seasonality charts on Crude Oil Days of Supply, Gasoline Days of Supply, Crude Oil, Existing Home Sales, Inventory of Existing Homes for Sale and Canadian Retail Trade.

Observation

Mexico and the U.S. close to signing a trade agreement?

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $LOW. Breakdowns: $HIG $EA

Editor's Note: After 10:00 AM EDT, intermediate breakout: KMI. Breakdowns: SO, SJM

Methanex $MX.CA $MEOH moved above $97.33 Cdn. and $74.18 U.S. extending an intermediate uptrend.

Couche Tard $ATD.B.CA moved above $63.44 extending an intermediate uptrend.

US Existing Home Sales down 8.4% (NSA) in July, more than the 6.7% decline that is average for the summer month. $MACRO #Economy #Housing

Gasoline inventories continue to rise, contrary to seasonal norms, as demand shows signs of tailing off sooner than average. $UGA $USO $XLE

Canada Retail Trade running 7.6% above average through first half of the year, best performance in over two decades. $MACRO #CDNecon #CAD

Trader's Corner

Equities and Related ETFs

Daily Seasonal/Technical Equity Trends for August 22nd 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 22nd 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 22nd 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 1.00 to 71.00 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 3.51 to 52.89 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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