Tech Talk for Tuesday July 16th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.
Index futures were virtually unchanged following release of June Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.5% in May. Actual was an increase of 0.4%. Excluding auto sales, consensus for June Retail Sales was an increase of 0.2% versus a gain of 0.5% in May. Actual was an increase of 0.4%
Johnson & Johnson (JNJ $134.71) is expected to open higher after reporting higher than consensus second quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/07/clip_image0011-6.png "clip_image001[1]")
Goldman Sachs added $2.38 to $213.96 after reporting higher than consensus second quarter results. The company also raised its dividend.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/07/clip_image0021-5.png "clip_image002[1]")
JP Morgan dropped $1.90 to $112.00 after reporting higher than consensus second quarter results, but also lowering guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/07/clip_image0031-6.png "clip_image003[1]")
Domino's Pizza dropped $21.40 to $248.52 after reporting lower than consensus second quarter revenues.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/07/clip_image0041.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/07/15/stock-market-outlook-for-july-16-2019/
Note: seasonality charts on Silver Futures and the Empire State Manufacturing Survey
StockTwits released yesterday @EquityClock
Cameco $CCO.CA $CCJ moved below $13.40 Cdn. extending an intermediate downtrend.
Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $UA $F $FOX $LUV $KMB. Breakdown: $TAP
Editor's Note: After 10:00 AM EDT, intermediate breakouts included CVX, UAA, NKE, AMD, BBY, BR, CF, TWTR. Breakdown: XEC.
Chevron $CVX, a Dow Jones Industrial stock moved above $126.10 extending an intermediate uptrend.
Nike $NKE, a Dow Jones Industrial stock moved above $89.75 to an all-time high extending an intermediate uptrend.
Advanced Micro Devices $AMD, a NASDAQ 100 stock moved above $34.30 to an all-time high extending an intermediate uptrend.
Touramline $TOU.CA moved above $17.65 Cdn. completing a double bottom pattern.
Husky Energy, $HSE.CA, a TSX 60 stock moved below $12.14 extending an intermediate downtrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for July 15th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for July 15th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 15th 2019
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
Thank you to David Chapman and www.enrichedinvesting.com for the following comment:
S&P 500 Momentum Barometer
The Barometer slipped 1.60 to 83.60 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer added 0.78 to 61.04 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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