Tech Talk for Tuesday July 6th 2021
U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 2 points in pre-opening trade.
Gold gained $27.50 to $1,810.70 per ounce in response to U.S. Dollar weakness.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/07/clip_image0011-1.png "clip_image001[1]")
Apple gained $0.29 to $140.25 after JP Morgan raised its target price from $165 to $170.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/07/clip_image0021-1.png "clip_image002[1]")
Nvidia advanced $11.19 to $830.67 after KeyBanc Capital raised its target price from $775 to $950
American Express added $4.17 to $172.67 after Goldman Sachs upgraded the stock from Neutral to Buy. Target is $225.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/07/clip_image0041.png "clip_image004[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/07/03/stock-market-outlook-for-july-6-2021/
Technical Notes for yesterday at
George Weston $WN.CA a TSX 60 stock moved above $119.87 to an all-time high extending an intermediate uptrend.
Canadian Natural Resources $CNQ.CA a TSX 60 stock moved above $45.88 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for July 5nd 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for July 5th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 5th 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
Precious metal prices and precious metal equity prices have a history of moving higher from late June to early September. In addition, Silver futures since 2020 have significantly outperformed the S&P 500 Index and Gold futures during the late June to early September period.
Short term technical indicators (Daily Stochastics, RSI and MACD) turned higher last week corresponding to start of the late June/early September period of seasonal strength. A move by Silver above its 20 day moving average at US$26.82 and its 50 day moving average at US$27.13 will provide additional technical proof that favourable seasonal influences are working this year.
Symbol for Silver iShares is SLV.
Precious metals equity ETFs including XGD.TO, GDX, GDXJ and SIL have a similar short term technical pattern.
Article from "uncommon SENSE Investor"
Thank you to Mark Bunting and www.uncommonsenseinvestor.com for a link to the following article entitled "Seven Sizzling Semiconductor Stocks to Buy". Following is the link:
7 Sizzling Semiconductor Stocks to Buy | Kiplinger
Editor's Note: Seasonal influences for the semiconductor sector are positive from late June to late November. See www.EquityClock.com for seasonality charts on SOXX and SMH. Both units broke to an all-time high last week.
TSX Momentum Barometers
The intermediate term Barometer added 0.91 to 64.09 yesterday. It remains Overbought.
The long term Barometer added 0.45 to 76.36 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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