Tech Talk for Wednesday August 8th 2018
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
Walt Disney slipped $0.76 to $115.40 after reporting lower than consensus second quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0011-3.png "clip_image001[1]")
Papa Johns dropped $1.26 to $37.30 after reporting lower than consensus quarterly results.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0021-4.png "clip_image002[1]")
Snap fell $0.09 to $13.03 after reporting lower than consensus quarterly results.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0031-4.png "clip_image003[1]")
CVS Health added $2.00 to $67.45 after reporting higher than consensus second quarter sales and earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0041-3.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/08/07/stock-market-outlook-for-august-8-2018/
Note seasonality charts on TSX Financial Index, Job Openings and Gas Utilities
Observations
TSX Composite Index dropped 0.82% despite a 0.28% gain by the S&P 500 Index yesterday mainly due to weakness in non-bank financial stocks (e.g. MFC, POW SLF).
StockTwits Released Yesterday @EquityClock
Agriculture ETF $MOO moved above $64.70 extending an intermediate uptrend.
Financial SPDRs $XLF moved above $28.38 setting an intermediate uptrend.
Mid-cap SPDRs $MDY moved above $366.70 to an all-time high extending an intermediate uptrend.
Agnico Eagle $AEM $AEM.CA, a TSX 60 stock moved below $41.03 U.S. extending an intermediate downtrend.
Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $HBAN $BR $HPE. Breakdowns: $XRAY $EXPD.
Editor's Note: After 10:00, breakouts included BLL, JPM, DG and EMR. Breakdown: MAR.
JP Morgan $JPM, a Dow Jones Industrial stocks moved above $118.09 to an all-time high extending an intermediate uptrend.
Power Corp $POW.CA, a TSX 60 stock moved below $29.04 setting an intermediate downtrend.
Sun Life Financial $SLF.CA, a TSX 60 stock moved below $51.78 extending an intermediate downtrend.
Editor's Note: Manulife Financial also broke support in late trading.
Job Openings down 0.6% (NSA) in June, better than the 2.2% decline that is average for the month. $MACRO #Employment #JOLTS
Trader's Corner
Equities and Related ETFs
Daily Seasonal/Technical Equity Trends for August 7th 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 7th 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 6th 2018
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
By David Chapman
Following are links:
http://www.enrichedinvesting.com/PDF/Technical-Scoop-2018-Aug-06-Final.pdf
or
http://www.enrichedinvesting.com/Investment-Commentary/?LNK=11
S&P 500 Momentum Barometer
The Barometer added another 3.60 to 71.80. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer dropped another 7.50 to 46.67 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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