Tech Talk for Wednesday August 21st 2019

U.S. equity index futures moved higher this morning. S&P 500 futures advanced 22 points in pre-opening trade.

The Canadian Dollar added 0.14 to U.S. 75.35 cents after Canada's July Consumer Price Index was released at 8:30 AM EDT. Consensus was an increase of 0.2% versus a drop of 0.2% in June. Actual was an increase of 0.5%. On a year-over-year basis, CPI increased at a 2.0% rate versus consensus of 1.7%.

Royal Bank (RY $99.34) is expected to open mixed after reporting slightly less than consensus quarterly earnings, but also increasing its quarterly dividend by 3% to $1.05 per share.

Target jumped $13.17 to $98.20 after reporting higher than consensus second quarter sales and earnings. The company also raised guidance.

Lowe's Companies jumped $11.78 to $109.65 after reporting higher than consensus second quarter earnings.

Urban Outfitters added $0.39 to $21.30 after reporting higher than consensus second quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/08/20/stock-market-outlook-for-august-21-2019/

Note seasonality chart on Manufactured Goods Sales

StockTwits released yesterday @EquityClock

Medtronic $MDT moved above $103.95 to an all-time high extending an intermediate uptrend. The company reported higher than consensus fiscal first quarter sales and earnings

Grain ETN $JJGTF (one third each in corn, wheat, soybeans) moved below $20.25 setting an intermediate downtrend. Crop conditions in the U.S. continue to improve.

Canada Manufacturing Sales down 6.4% (NSA) in June, a negative divergence compared to the 0.4% increase that is average for the month. $MACRO #CDNecon #CAD

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for August 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P Momentum Barometer

TSX Momentum Barometer

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

Sponsored By...