Tech Talk for Tuesday July 27th 2021
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade.
Index futures were virtually unchanged following release of the June Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 2.2% versus a gain of 2.3% in May. Actual was an increase of 0.08% . Excluding transportation orders, consensus was an increase of 0.8% versus a gain of 0.3% in May. Actual was an increase of 0.3%.
Tesla advanced $14.24 to $671.86 after reporting higher than consensus second quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/07/clip_image0011-4.png "clip_image001[1]")
United Parcel Services gained $1.78 to $211.64 after reporting higher than consensus second quarter revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/07/clip_image0021-7.png "clip_image002[1]")
MMM added $1.18 to $202.85 after reporting higher than consensus second quarter revenues and earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/07/clip_image0031-4.png "clip_image003[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/07/26/stock-market-outlook-for-july-27-2021/
Technical Notes release yesterday at
Morgan Stanley China A Fund $CAF a proxy for a portfolio of China A shares moved below intermediate support at $21.36. Reflecting general weakness in Chinese stocks following a crack down by the Chinese government on selected industries.
Chinese equities and related ETFs continue under technical pressure. Best example is $FXI an ETF priced in U.S. Dollars consisting of big cap Chinese stocks with a heavy weight in the financial services industry. Units moved below $42.72 extending an intermediate downtrend.
Another Chinese stock casualty! $JD a NASDAQ 100 stock moved below $66.55 extending an intermediate downtrend.
NetEase $NTES a NASDAQ 100 stock and Chinese based technology stock moved below $101.19 and $99.15 setting an intermediate downtrend.
Consumer Discretionary SPDRs $XLY moved above $183.79 to an all-time high extending an intermediate uptrend.
Bitcoin advanced 2,621.93 to $37,991.86 after Amazon announced plans to receive payment with Bitcoin.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for July 26th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for July 26th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 26th 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
Report from uncommon Sense Investor
Thank you to Mark Bunting and www.uncommoninvestor.com to a link to the following report entitled "First Class Fintech Stocks to Watch"
10 First-Class Fintech Stocks to Watch | Kiplinger
S&P 500 Momentum Barometers
The intermediate term Barometer was unchanged at 54.51 yesterday. It remains Neutral.
The long term Barometer added 1.80 to 89.78 yesterday. It remains Extremely Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 0.02 to 51.92 yesterday. It remains Neutral.
The long term Barometer gained 2.14 to 74.52 yesterday. It remains 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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