Tech Talk for Wednesday August 7th 2019

U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.

Walt Disney dropped $5.86 to $136.01 after reporting lower than consensus fiscal third quarter earnings.

Weight Watchers (WW $21.01) is expected to open higher after reporting higher than consensus second quarter earnings. The company also raised guidance.

CVS Health advanced $2.41 to $56.50 after reporting higher than consensus second quarter earnings. The company also raised guidance.

Hertz gained $0.86 to $15.80 after reporting higher than consensus second quarter sales and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/08/06/stock-market-outlook-for-august-7-2019/

Note seasonality charts on the VIX Index and U.S. Job Openings.

StockTwits released yesterday @EquityClock

CGI Group $GIB.A.CA, a TSX 60 stock moved below $99.11 Cdn. completing a double top pattern

Major Canadian insurance stocks $SLF.CA $MFC.CA, TSX 60 stocks break intermediate support levels.

Power Corp $POW.CA, a TSX 60 stock moved below $27.13 extending an intermediate downtrend.

Canadian Pacific $CP.CA, a TSX 60 stock moved below $304.67 completing a double top pattern.

BMO Equal Weight Global Base Metals ETF $ZMT.CA moved below $40.59 extending an intermediate downtrend.

Canadian Financials iShares $XFN.CA moved below $40.59 completing a Head & Shoulders pattern.

BMO Equal Weight Canadian Banks ETF $ZEB.CA moved below $27.49 completing a Head & Shoulders pattern. Individual banks that broke support this morning included $RY.CA and $CM.CA.

Gildan Activewear $GIL.CA, a TSX 60 stock moved below $49.92 completing a double top pattern.

BlackBerry $BB.CA, a TSX 60 stock moved below $9.02 extending an intermediate downtrend.

Fortis $FTS.CA, a TSX 60 stock moved above $52.95 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for August 6th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 6th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 6th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 7.80 to 34.20 yesterday. It remains intermediate oversold and trending down.

TSX Momentum Barometer

The Barometer plunged 10.10 to 46.12 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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