Tech Talk for Wednesday July 10th 2019

U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade. Investors are waiting for testimony before Congress by Federal Reserve chairman Jerome Powell at 10:00 AM EDT.

The Canadian Dollar was virtually unchanged at U.S. 76.26 cents prior to a statement on monetary policy by the Bank of Canada to be released at 10:00 AM EDT. The Bank of Canada's overnight lending rate is expected to remain unchanged at 1.75%.

Bombardier (BBD.B $2.22) is expected to open lower after the company announced plans to lay off 550 employees at its railcar division in Thunder Bay.

Levi Strauss dropped $1.73 to $21.93 after reporting less than consensus second quarter earnings.

Comcast added $0.97 to $43.95 after Goldman Sachs upgraded the stock to Buy from Hold. Target price was raised to $54 from $44.

Deere dropped $2.35 to $161.00 after UBS downgraded the stock to Neutral from Buy.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/07/09/stock-market-outlook-for-july-10-2019/

Note seasonality charts on Amazon and Job Openings.

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:15 AM EDT. No intermediate breakouts or breakdowns.

Editor's Note: After 1015 AM EDT, intermediate breakouts included AMZN, EQR, AVB and FB. Breakdown: CHD.

National Bank $NA.CA, a TSX 60 stock moved above $63.62 to an all-time high extending an intermediate uptrend

Trican Well Services $TCW.CA moved below $1.07 extending an intermediate downtrend.

Tis the season for National Bank $NA.CA to move higher!

Amazon $AMZN, one of the FAANG stocks moved above $1964.80 extending an intermediate uptrend.

Job Openings down by 6.6% in May, better than the 8.7% decline that is average for the month. $MACRO #Economy #JOLTS

Facebook $FB, another FAANG stock moved above $198.48 extending an intermediate uptrend

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 9th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for July 9th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 9th 2019

Green: Increase from previous day

Red: Decrease from previous day

Observation

Silver has a history of moving higher from early July to September.

Significant change in Technical Score

Score on Materials SPDRs dropped to -2 from 2 after units dropped below their 20 day moving average and relative strength changed to negative from neutral.

S&P 500 Momentum Barometer

The Barometer slipped 0.84 to 77.76 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 2.56 to 62.39 yesterday. It changed to intermediate overbought from intermediate neutral on a move above 60.00.

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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