Tech Talk for Tuesday July 20th 2021

U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points in pre-opening trade.

Equity index futures were virtually unchanged following release of June U.S. Housing Starts at 8:30 AM EDT. Consensus was an increase to 1.590 million units from 1.572 million units in May. Actual was an increase to 1.64 million units.

IBM advanced 4.63 to $142.40 after reporting higher than consensus second quarter revenues and earnings.

Chubb added $1.51 to $162.30 after announcing a $5 billion share buyback program.

PPG Industries dropped $10.75 to $155.00 after reporting lower than consensus second quarter revenues and earnings.

Travelers added $0.21 to $151.47 after reporting higher than consensus second quarter earnings.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/07/19/stock-market-outlook-for-july-20-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

Equal Weight S&P 500 ETF $RSP moved below $146.16 completing a modified Head & Shoulders pattern.

TSX Composite Index $TSX.CA moved below $19,980.32 moved below 19,980.32 and the TSX 60 Index $SPTSE moved below $1,197.95 completing short term Head & Shoulders patterns.

Russell 2000 iShares $IWM moved below $211.22 completing a double top pattern.

India ETF $PIN moved below $25.44 completing a double top pattern.

J P Morgan, a Dow Jones Industrial Average stock $JPM completed a classic Head & Shoulders pattern by moving below $146.71

S&P 100 stocks moving below intermediate support by 10:00 AM EDT included $GM, $MAR $CAT, $UNP, $DOW and $DD

Editor's Note: Other S&P 100 and NASDAQ 100 stocks that moved below intermediate support after 10:00 AM EDT included MTCH, BRK.B, JPM, CSX, CTSH, FISV, ATVI, MCD, CVS, GD, PDD, ROST, AIG and IBM

ETFs moving below intermediate support at 10:00 AM EDT included $MOO $XLB $MDY $SLX, $PPA $CARZ $COPX $IEV and $EWA

Editor's Note: Other major ETFs that moved below intermediate support after 10:00 AM EDT included: XLF, XLI, EZU, EEM, IYT, WOOD, EZA, EWH, UGA, XHB, GDX, XBM.TO, COW.TO and XFN.TO.

TSX 60 stocks that have moved below intermediate support today included $BIP $TRP.CA $TECK $BAM.A.CA $QSR.CA $KGC, $WPM, $SAP and $GIB

Charting the second half: StockCharts.com expert panel

Following is a link:

https://www.youtube.com/watch?v=Ldqw5_niSVY

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 19th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for July 16th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 19th 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

Seasonality Chart of the Day from www.EquityClock.com

Industrial commodity prices on a real and relative basis (relative to the S&P 500 Index) have a history of moving lower between now and December 15th

S&P 500 Momentum Barometers

The intermediate term Barometer plunged 11.62 to 36.67 yesterday. It changed from Neutral to Oversold on a move below 40.00, but is trending down.

The long term Barometer plunged 6.81 to 81.16 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

The intermediate term Barometer plunged 9.88 to 36.45 yesterday. It changed from Neutral to Oversold on a move below 40.00 and continues to trend down.

The long term Barometer dropped 2.84 to 70.09 yesterday. It remains Overbought and continues to trend down.

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