Tech Talk for Thursday July 23rd 2020

MasterCard (MS), an S&P 100 stock moved above $315.64 extending an intermediate uptrend.

Cintas (CTAS), a NASDAQ 100 stock moved above $292.11 and $304.81 to an all-time high extending an intermediate uptrend.

Pre-opening Comments for Thursday July 23rd

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.

Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EDT. Consensus was 1.300 million versus 1.307 million last week. Actual was 1.416 million

Tesla jumped $47.67 to $1640.00 after reporting higher than consensus revenues and free cash flow.

Microsoft dropped $3.20 to $208.50 despite reporting higher than consensus fiscal fourth quarter revenues and earnings.

Whirlpool advanced $5.11 to $152.00 after reporting higher than consensus second quarter earnings. The company also raised guidance.

CSX (CSX $73.26) is expected to open lower after reporting lower than consensus second quarter revenues and earnings. The company also lowered guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/07/22/stock-market-outlook-for-july-23-2020/

Note seasonality charts on Gold Shares SPDRs, Silver iShares, Crude Oil Days of Supply and Canada's Consumer Price Index

Technical Notes

Advanced Micro Devices (AMD), a NASDAQ 100 stock moved above $59.00 and $59.27 to an all-time high extending an intermediate uptrend.

Xcel Energy (XEL), a NASDAQ 100 stock moved above $67.09 extending an intermediate uptrend.

Pfizer (PFE), a Dow Jones Industrial Average stock moved above $38.49 setting an intermediate uptrend. Responded to encouraging news on its vaccine research.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for July 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Greg Schnell's "Market Buzz"

Greg talks about "The Stampede Trade". Following is a link:

https://www.youtube.com/watch?v=CMFES5cXHOk&feature=youtu.be

Arthur Hill's Seasonal Patterns report for second half of 2020

Arthur Hill reviews, "Seasonal Patterns and Timing Tools to Watch" .Note seasonal strength in U.S. bond prices. Following is a link:

https://www.youtube.com/watch?v=5hiyJXlaJTk&feature=youtu.be

S&P 500 Momentum Barometer

The Barometer added 1.40 to 81.36 yesterday. It changed from intermediate overbought to extremely intermediate overbought on a move above 80.00.

TSX Momentum Barometer

The Barometer slipped 1.93 to 81.54 yesterday. It remains extremely intermediate overbought.

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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