Tech Talk for Thursday August 30th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 214,000 from 210,000 last week. Actual was 213,000. Consensus for July Personal Income was an increase of 0.4% versus a gain of 0.4% in June. Actual was an increase of 0.3%. Consensus for July Personal Spending was an increase of 0.4% versus a gain of 0.4% in June. Actual was an increase of 0.4%

The Canadian Dollar slipped 0.13 to 77.21 cents U.S. following release of Canada's second quarter real GDP report. Consensus was annualized growth at 3.0% versus 1.3% in the first quarter. Actual was growth at a 2.9% rate. Month-over-month growth in June was unchanged from May

Toronto Dominion Bank (TD $79.31 Cdn.) is expected to open higher after reporting higher than consensus fiscal third quarter earnings.

Dollar Tree dropped $5.46 to $89.00 after lowering its third quarter guidance.

Abercrombie & Fitch fell $2.62 to $24.80 after reporting lower than consensus second quarter results.

Salesforce.com fell $3.22 to $151.56 after lowering its third quarter guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/08/29/stock-market-outlook-for-august-30-2018/

See seasonality charts on NASDAQ Composite, Crude Oil Days of Supply, Gasoline Days of Supply and Crude Oil.

StockTwits Released Yesterday @EquityClock

Microsoft $MSFT, a Dow Jones Industrial stock moved above $110.72 to an all-time high extending an intermediate uptrend.

Martinrea $MRE.CA moved above $14.38 completing a bottoming pattern. Anticipation of a NAFTA agreement?

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $ADBE $MA $MSFT. No breakdowns.

Editor's Note: After 10:00 AM EDT, breakouts included FTV, LKQ, VRTX, CAN, PYPL, ANSS, MRO, AAL, REGN, AMGN, PCG and CME. Breakdown: TIF.

NASDAQ Biotech ETF $IBB moved above $120.06 to a 3 year high extending an intermediate uptrend.

CGI Group $GIB, a TSX 60 stock moved above $66.31 U.S. extending an intermediate uptrend.

Agriculture ETF $MOO moved above $65.00 extending an intermediate uptrend.

Trader's Corner

Equities and Related ETFs

Daily Seasonal/Technical Equity Trends for August 29th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 29th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 29th 2018

Green: Increase from previous day

Red: Decrease from previous day

Upcoming BNN Appearance:

Jon Vialoux will be on BNN's Market Call Tonight at 6:00pm ET this Friday, August 31st taking your calls on Technical Analysis and Seasonal Investing.  CALL TOLL-FREE 1-855-326-6266,  EMAIL marketcall@bnnbloomberg.ca,  or TWEET @MarketCall.

August Schachter Energy Report

Notes from this paid subscription service:

Natural gas bull market just around the corner: Winter the catalyst

Crude Oil inventories decline ending - Inventory build should drive WTI below $60/b

Subscriptions available at www.schachterenergyreport.ca

Editor's Note: Agreed on the natural gas call!

S&P 500 Momentum Barometer

The Barometer added 2.40 to 76.00 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer was unchanged yesterday at 51.04. It remains intermediate neutral and trending down.

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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