Tech Talk for Tuesday August 13th 2019
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.
Index futures were virtually unchanged following release of the July U.S. Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.1% in June. Actual was an increase of 0.3%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.3% in June. Actual was an increase of 0.3%.
Gold advanced another $17.60 to $1534.80 on growing trade tensions.
McDonalds gained $0.35 to $217.51 after MKM Partners initiated coverage with a Buy rating.
Advanced Auto Parts dropped $12.16 to $130.00 after reporting lower than consensus second quarter sales and earnings.
DR Horton (DHI $46.99), KB Homes (KBH $26.32) and PulteGroup (PHM $31.50) are expected to open higher after SunTrust initiated coverage with a Buy rating.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/08/12/stock-market-outlook-for-august-13-2019/
Note seasonality chart on Corn futures.
StockTwits released yesterday @EquityClock
VALE $VALE moved below support at $11.22. Extension of weakness in base metal stocks!
Caterpillar $CAT, a Dow Jones Industrial stock moved below$117.83 extending an intermediate downtrend. Responding to trade war with China.
OOOPs!! Argentina’s currency and stock market "fell off the cliff" as political uncertainty spikes. $ARGT.
S&P Retail SPDRs $XRT moved below $39.39 extending an intermediate downtrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for August 12th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 12th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 12th 2019
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
Thank you to David Chapman and www.EnrichedInvesting.com for a link to the following weekly report:
Hap Sneddon on BNNBloomberg's Market Call Yesterday
Links to:
Market Outlook
https://www.bnnbloomberg.ca/market-call/hap-sneddon-s-market-outlook~1751662
Past Picks
https://www.bnnbloomberg.ca/video/hap-sneddon-s-past-picks~1751724
Top Picks
https://www.bnnbloomberg.ca/market-call/hap-sneddon-s-top-picks~1751725
S&P 500 Momentum Barometer
TSX Momentum Barometer
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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