U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points at 8:30 AM EDT
The Canadian Dollar was unchanged at US73.60 cents following release of Canada's June Retail Sales at 8:30 AM EDT. Consensus was unchanged from May. Actual was an increase of 0.1%.
Toll Brothers gained $0.66 to $76.70 after reporting higher than consensus fiscal third quarter earnings. The company also raised guidance.
Urban Outfitters added $1.16 to $35.25 after reporting higher than consensus second quarter revenues.
Foot Locker dropped $7.21 to $16.00 after reporting less than consensus quarterly results. The company also lowered guidance and cut its dividend.
Peloton plunged $1.86 to $5.11 after reporting less than consensus fiscal fourth quarter results.
EquityClock's Daily Comment
Headline reads "Ratio of bonds over stocks reaching an interesting juncture, one that could be signaling a notable peak in the equity market".
https://equityclock.com/2023/08/23/stock-market-outlook-for-august-23-2023/
Technical Notes
Solar ETF $TAN moved below $55.54 extending an intermediate downtrend.
Nike $NKE a Dow Jones Industrial Average stock moved below $102.56 extending an intermediate downtrend.
Citigroup $C an S&P 100 stock moved below $41.08 extending an intermediate downtrend.
Target $TGT an S&P 100 stock moved below $124.02 extending an intermediate downtrend.
Scotia Bank $BNS.TO a TSX 60 stock moved below Cdn$62.20 andCdn$61.88 extending an intermediate downtrend.
Loblaw Companies $L.TO a TSX 60 stock moved below Cdn$114.64 setting an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 22nd 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for August 22nd 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 22nd 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Wall Street firm cuts S&P 500 target. What Seaport says could go wrong by end of 2023
This Powerful Use of RRG Will Make Your Head Spin | Julius de Kempenaer | Sector Spotlight (8.21.23)
Stock Reversals are EVERYWHERE! | Tom Bowley | Trading Places (08.22.23)
Stock Reversals are EVERYWHERE! | Tom Bowley | Trading Places (08.22.23) - YouTube
Is the S&P 500 Ready to Breakout? | Joe Rabil | Your Daily Five (08.22.23) YD5
Is the S&P 500 Ready to Breakout? | Joe Rabil | Your Daily Five (08.22.23) YD5 - YouTube
I think we will get to a 9% in market correction, says Worth Charting’s Carter Worth
I think we will get to a 9% in market correction, says Worth Charting’s Carter Worth - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped another 3.60 to 31.60/ It remains Oversold. Daily trend is down.
The long term Barometer dropped another 2.80 to 50.40. It remains Neutral. Daily trend remains down.
TSX Momentum Barometers
The intermediate term Barometer slipped 1.32 to 36.56. It remains Oversold. Daily trend remains down.
The long term Barometer dropped another 1.32 to 44.93. It remains Neutral. Daily trend remains down.
Disclaimer: Seasonality ratings 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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