Tech Talk for Thursday July 18th 2019

U.S. equity index futures were mixed this morning. S&P 500 futures were down unchanged in pre-opening trade.

Index futures were virtually unchanged following release of economic news released at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 215,000 from downwardly revised 208,000 last week. Actual was 216,000. Consensus for the July Philly Fed Index was an increase to 5.0 from 0.3 in June. Actual was an increase to 21.8.

Apple added $0.73 to $204.08 after Raymond James upgraded the stock to Outperform from Market Perform.

UnitedHealth Group added $1.90 to $268.55 after reporting higher than consensus second quarter earnings. The company also raised guidance.

Netflix plunged $37.44 to $362.44 after announcing a drop in U.S. subscriptions.

eBay (EBAY $39.03) is expected to open higher after reporting higher than consensus second quarter earnings.

EquityClock's Daily Market Comment

Following is a link:
http://www.equityclock.com/2019/07/17/stock-market-outlook-for-july-18-2019/

Note seasonality charts on Silver futures, Canadian Consumer Price Index, Housing Starts and Crude Oil Days of Supply.

StockTwits released yesterday @EquityClock

US #Housing Starts trending 12.0% above average through the first half of the year, the best pace since 2012. $MACRO #Economy

Canada #Manufacturing Sales up 10.2% (NSA) in May, much stronger than the 6.4% average increase for this spring month. $MACRO #CAD #CDNecon

Canada #CPI down 0.2% (NSA) in June, negatively diverging from an average increase of 0.1% for the sixth month of the year. $MACRO #CAD #CDNecon

Technical action by S&P 500 stocks to 10:00: Quiet. No intermediate breakouts. Breakdowns: $CMA $CSX

Editor's Note: After 10:00 AM EDT, breakouts included ULTA. Breakdowns included BBBY, IVZ, LEN, COG and EBAY

Thomson Reuters $TRI.CA, a TSX 60 stock moved above $88.82 to an all-time high extending an intermediate uptrend.

Wheaton Precious Metals $WPM $WPM.CA, a TSX 60 stock moved above $25.22 U.S. and $33.20 Cdn. extending an intermediate uptrend

Silver Equity ETF $SIL moved above $26.69, $27.45 and $28.09 extending an intermediate uptrend.

Kirkland Lake Gold $KL.CA moved above $57.94 to an all-time high extending an intermediate uptrend.

More precious metals equity breakouts: $AEM $HL $FNV

Breakouts by gold equity ETFs: $XGD.CA $GDX $GDXJ

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for July 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped 5.40 to 77.20 yesterday. It remains intermediate overbought and rolling over.

TSX Momentum Barometer

The Barometer slipped another 0.43 to 59.05 yesterday. It remains intermediate neutral and has started to trend 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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