Tech Talk for Tuesday August 18th 2020

S&P 500 Index moved above 3393.52 to an all-time high extending an intermediate uptrend.

Frontier iShares (FM) moved above $24.69 extending an intermediate uptrend.

JD Inc. (JD), a NASDAQ 100 stock moved above $69.18 to an all-time high extending an intermediate uptrend.

Pre-opening Comments for Tuesday August 18th

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.

Index futures were virtually unchanged following release of July Housing Starts at 8:30 AM EDT. Consensus was an increase to 1.24 million units from 1.186 million units in June. Actual was 1.496 million units.

Home Depot gained $3.42 to an all-time high at $291.66 after reporting higher than consensus second quarter revenues and earnings.

Walmart advanced $0.98 to an all-time high at $16.58 after reporting higher than consensus second quarter revenues and earnings.

Kohl's added $0.45 to $23.90 after reporting higher than consensus second quarter revenues.

Lululemon gained $2.13 to an all-time high at $357.00 after B Riley raised its target price from $317 to $385.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/08/17/stock-market-outlook-for-august-18-2020/

Technical Notes for August 17th

Healthcare SPDRS (XLV) moved above $107.53 to an all-time high extending an intermediate uptrend.

Walmart (WMT), a Dow Jones Industrial Average stock moved above $133.58 to an all-time high extending an intermediate uptrend.

Dollar Tree (DLTR), a NASDAQ 100 stock moved above $107.53 extending an intermediate uptrend.

Soybean ETN (SOYB) moved above $14.44 extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for August 17th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for August 17th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 17th 2020

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 report. Headline reads, "Gold mini-crash, high failure, DJI lag, mixed TSX, different time, consumer-Dow correlation, weakest months" Following is a link:

http://enrichedinvesting.com/wp-content/uploads/2020/08/Gold-mini-crash-high-failure-DJI-lag-mixed-TSX-different-time-consumer-Dow-correlation-weakest-months.pdf

S&P 500 Momentum Barometer

The Barometer slipped 2.40 to 77.76 yesterday. It slipped from extremely intermediate overbought to intermediate overbought on a move below 80.00.

TSX Momentum Barometer

The Barometer added 3.24 to 79.43 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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