Tech Talk for Wednesday July 19th 2023

July 19, 2023 / www.timingthemarket.ca / Article Link

U.S. equity index futures were mixed this morning S&P 500 futures were unchanged at 8:35 AM EDT.

Index futures were unchanged following release of U.S. June Housing Starts at 8:30 AM EDT. Consensus was a drop to 1,450,000 units from revised 1,559,000 units in May. Actual was a drop to 1.434,000 units.

Interactive Brokers dropped $3.70 to $82.47 after reporting less than consensus second quarter revenues and earnings.

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Western Alliance Bancorp dropped $1.37 to $41.70 after reporting less than consensus second quarter earnings.

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Spotify added $0.37 to $179.95 after JP Morgan raised its target price $160 to $190.

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Goldman Sachs gained $3.41 to $341.00 after reporting higher than consensus second quarter revenues.

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EquityClock's Daily Comment

Headline reads "Data released on Tuesday continues to express the struggle in the manufacturing economy, but consumer activity may be starting to lag as well".

http://www.equityclock.com/2023/07/18/stock-market-outlook-for-july-19-2023/

Technical Notes

Regional Bank SPDRs $KRE moved above $44.56 completing a reverse Head & Shoulders pattern

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U.S. Healthcare Providers iShares $IHF moved above intermediate resistance at $257.81.

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Junior Gold ETF $GDXJ moved above intermediate resistance at $38.95.

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South Africa iShares $EZA moved above $42.95 resuming an intermediate uptrend.

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Israel iShares $EIS moved above $57.28 extending an intermediate uptrend.

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Cdn. Financials iShares $XFN.TO moved above Cdn$45.70 resuming an intermediate uptrend.

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Morgan Stanley $MS an S&P 100 stock moved above $91.03 resuming an intermediate uptrend.

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Bank of America $BAC an S&P 100 stock moved above $30.69 completing a double bottom pattern.

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Microsoft $MSFT a Dow Jones Industrial Average stock moved above $351.47 to an all-time high extending an intermediate uptrend.

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Amgen $AMGN a Dow Jones Industrial Average stock moved above $231.95 completing a double bottom pattern.

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BCE $BCE.TO a TSX 60 stock moved below Cdn$57.19 extending an intermediate downtrend.

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Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 18th 2023

spx july 19

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 July 18th 2023

crb july 19

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for July 18th 2023

xlk july 19

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

S&P 500 Pushing All-time Highs? Strong Trends Getting STRONGER!!! | The Final Bar (07.17.23)

S&P 500 Pushing All-time Highs? Strong Trends Getting STRONGER!!! | The Final Bar (07.17.23) - YouTube

 

The One Indicator That Gave Me An Edge... | Pete Carmasino | Halftime by Chaikin Analytics (07.17.23)

The One Indicator That Gave Me An Edge... | Pete Carmasino | Halftime by Chaikin Analytics (07.17.23) - YouTube

 

As Inflation Winds Down Markets Are Behaving | TG Watkins | Your Daily Five (07.23.23)

As Inflation Winds Down Markets Are Behaving | TG Watkins | Your Daily Five (07.23.23) - YouTube

 

4 Small-Caps Showing Bullish Characteristics | Joe Rabil | Your Daily Five (07.18.23)

4 Small-Caps Showing Bullish Characteristics | Joe Rabil | Your Daily Five (07.18.23) - YouTube

 

What’s on the Other Side of the Fed? | Tom Bowley | Trading Places (07.18.23)

What’s on the Other Side of the Fed? | Tom Bowley | Trading Places (07.18.23) - YouTube

 

S&P 500 Momentum Barometers

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Intermediate term Barometer slipped 0.20 to 81.20. It remains Overbought.

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The long term Barometer added 0.40 to 70.00. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer advanced 6.58 to 67.11. It remains Overbought. Daily trend extended an uptrend.

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The long term Barometer added 3.07 to 62.28. It changed from Neutral to Overbought on a move above 60.00. Daily trend remains up.

 

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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