Tech Talk for Tuesday July 24th 2018
Equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Futures were buoyed by news that China added monetary stimulus to its economy.
Alphabet jumped $55.95 to $1265.13 after reporting higher than consensus second quarter revenues and earnings. Stifel Nicolaus and Susquehanna raised their target price on the stock.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image0011-3.png "clip_image001[1]")
United Technologies dipped $0.87 to $128.50 despite reporting higher than consensus second quarter earnings. The company also raised its third quarter guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image0021-4.png "clip_image002[1]")
MMM dropped $2.94 to $195.90 despite reporting higher than consensus second quarter earnings. The company also raised its third quarter guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image0031-4.png "clip_image003[1]")
Whirlpool plunged $14.11 to $136.60 after reporting less than consensus second quarter sales and earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/07/clip_image0041-4.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/07/23/stock-market-outlook-for-july-24-2018/
Note seasonality charts on the U.S. Financial sector, 10 year Treasury Note futures, Existing Home Sales, Inventory of Existing Home Sales, Median Home Sales Price and Oil and Gas Exploration and Production Industry.
Observations
U.S. Treasury prices moved lower in anticipation of another increase in the Fed Fund rate on August 1st and a possible change in policy by the Bank of Japan. Yield on 10 year Treasuries jumped 7 basis points.
StockTwits Released Yesterday @EquityClock
Oil Services ETF $OIH moved below $25.21 extending an intermediate downtrend.
Technical action by S&P 500 stocks to 10:00: Bearish. No intermediate breakouts. Breakdowns: $HAL, $PLD $NLSN $FLIR $SWKS $WDC.
Editor's Note: After 10:00 AM EDT breakouts included HCA, TIF and FAST. Breakdowns included ITW and ALB.
Lundin Mining $LUN.CA moved below $7.06 extending an intermediate downtrend.
US Existing Home Sales up 6.5% (NSA) in June, below the 8.4% increase that is average for the month. $MACRO #Economy #Housing
#Housing inventory up 34.9% in the first half of the year, the largest increase through the first half in over two decades. $MACRO $STUDY
Trader's Corner
Daily Seasonal/Technical Equity Trends for July 23rd 2018 
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for July 23rd 2018
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for July 23th 2018
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer added 0.40 to 64.00 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer dropped 3.98 to 55.19 yesterday. It remains intermediate neutral and trending 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
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