Tech Talk for Tuesday August 17th 2021

U.S. equity index futures were lower this morning. S&P 500 futures were down 25 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US79.22 cents following release of July Canadian Housing Starts at 8:15 AM EDT. Consensus was a decline to 270,800 from upwardly revised 295,085 in June. Actual was 286,620.

Index futures moved lower following release of the July Retail Sales report at 8:30 AM EDT. Consensus was a slip of 0.2% versus a gain of 0.6% in June. Actual was a drop of 1.1% . Excluding auto sales, consensus was an increase of 0.2% versus a gain of 1.3% in June. Actual was a drop of 0.4%.

Home Depot dropped $11.12 to $323.93 despite reporting higher than consensus second quarter revenues and earnings.

Walmart fell $1.75 to $149.00 despite reporting higher than consensus second quarter revenues and earnings. The company also raised guidance.

Airline stocks moved lower on growing concerns that passenger travel will fall due to a spread of the Delta COVID 19 virus. The airline ETF JETS slipped $0.17 to $22.64 completing a "death cross" when its 50 day moving average dropped below its 200 day moving average.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/08/16/stock-market-outlook-for-august-17-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

South Korea iShares $EWY moved below $85.62 completing a double top pattern.

Apple $AAPL a Dow Jones Industrial Average stock moved above $150.00 to an all-time high extending an intermediate uptrend.

Procter & Gamble $PG a Dow Jones Industrial Average stock moved above $144.20 to an all-time high extending an intermediate uptrend

eBay $EBAY a NASDAQ 100 stock moved above $74.13 to an all-time high extending an intermediate uptrend.

Alphabet $GOOGL a NASDAQ 100 stock moved above $2,765.94 to an all-time high extending an intermediate uptrend.

Duke Energy $DUK an S&P 100 stock moved above $107.01 to an all-time high extending an intermediate uptrend.

Southern Companies $SO an S&P 100 stock moved above $65.59 and $66.08 to an all-time high extending an intermediate and long term trend

DocuSign $DOCU a NASDAQ 100 stock moved below $288.37 completing a double top pattern

Peloton $PTON a NASDAQ 100 stock moved below $108.10 completing a double top pattern

Oil & Gas Exploration SPDRs $XOP moved below $77.44 extending an intermediate downtrend. Responding to lower crude oil prices

First Trust Natural Gas ETF $FCG moved below $13.17 setting an intermediate downtrend.

Oil Services ETF $OIH moved below $177.34 extending an intermediate downtrend. Responding to lower crude oil prices.

Brookfield Infrastructure $BIP a TSX 60 stock moved above US$56.83 to an all-time high extending an intermediate uptrend.

Uranium ETF $URA moved below $18.39 extending an intermediate downtrend.

Cameco $CCO.CA a TSX 60 stock moved below $20.38 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 16th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 16th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 16th 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

S&P 500 Momentum Barometer

The intermediate term Barometer slipped 0.20 to 68.74 yesterday. It remains Overbought.

The long term Barometer slipped 1.20 to 84.17 yesterday. It remains Extremely Overbought and showing early signs of trending lower.

TSX Momentum Barometer

The intermediate term Barometer slipped 1.46 to 53.88 yesterday. It remains Neutral.

The long term Barometer dropped 1.94 to 69.90 yesterday. It remains Overbought and has resumed a downtrend.

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