Tech Talk for Thursday July 25th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.
Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims is an increase to 219,000 from 216,000 last week. Actual was 206,000. Consensus for June Durable Goods Orders was an increase of 0.5% versus a drop of 1.3% in May. Actual was an increase of 2.0%. Excluding transportation orders, consensus for June Durable Goods Orders was an increase of 0.2% versus a gain of 0.4% in May. Actual was an increase of 1.2%.
The European Central Bank maintained its overnight lending rate at current levels.
Tesla plunged $30.73 to $209.30 after reporting lower than consensus unit sales.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/07/clip_image0011-8.png "clip_image001[1]")
Facebook added $4.64 to $209.30 after reporting higher than consensus second quarter operating earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/07/clip_image0021-7.png "clip_image002[1]")
PayPal fell dropped $4.70 to $116.60 after lowering guidance
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/07/clip_image0031-7.png "clip_image003[1]")
Ford dropped $0.56 to $9.77 after reporting lower than consensus second quarter revenues. The company also lowered guidance.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/07/24/stock-market-outlook-for-july-25-2019/
Note seasonality charts on Crude Oil Days of Supply and New Home Sales
StockTwits released yesterday @EquityClock
Semiconductor ETF $SMH moved above $120.71 to an all-time high and $SOXX moved above $217.11 to an all-time high extending an intermediate uptrend
Auto Manufacturer ETF $CARZ moved above $33.40 setting an intermediate uptrend
Rio Tinto $RIO moved below $59.16 in response to lower iron concentrate prices setting an intermediate downtrend
US New Home Sales down 1.7% (NSA) in June, better than the average decline for the month of 2.6%. $MACRO #Economy #Housing
Chevron $CVX, a Dow Jones Industrial stock moved above $126.10 and$126.38 to an all-time high extending an intermediate uptrend.
Loblaw Companies $L.CA, a TSX 60 stock moved below $66.21 setting an intermediate downtrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for July 24th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for July 24th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 24th 2019
Green: Increase from previous day
Red: Decrease from previous day
Keith Richard's Blog
Keith asks, "Are there safe markets to hide if U.S. markets decline"? Following is a link:
https://www.valuetrend.ca/are-there-safe-markets-to-hide-in-if-us-markets-decline/
S&P 500 Momentum Barometer
The Barometer added 1.80 to 80.40 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer added 4.74 to 64.66 yesterday. It remains 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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