Tech Talk for Wednesday July 25th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.

Second quarter reports continued to pour in. Companies that reported since yesterday's close included Anthem, AT&T, Boeing, Boston Scientific, Coca-Cola, Corning, Fiat Chrysler, Freeport McMoran, General Motors, Hess Corp, Hilton, Loblaw Companies, Navient, Northrop Grumman, Teradyne, Texas Instruments and Tupperware

AT&T fell $0.23 to $31.45 despite reporting higher than consensus second quarter results.

Boeing dropped $13.27 to $345.00 despite reporting higher than consensus second quarter earnings. Revenues were less than consensus.

Coca Cola added $0.24 to $45.50 after reporting higher than consensus second quarter results.

General Motors fell $2.24 to $37.24 despite reporting higher than consensus second quarter sales and earnings. The company lowered its third quarter guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/07/24/stock-market-outlook-for-july-25-2018/

StockTwits Released Yesterday @EquityClock

Tech action by S&P 500 stocks to 10:00: Mixed. Breakouts: $KORS $TGT $USB $BIIB $TMO $AVY $OI $LMT. Breakdowns: $NWS $WHR $DGX $MMM $PEG $PNW

Editor's note: After 10:00 AM EDT, breakouts included MSCI and NUE. Breakdown: FL.

MMM $MMM, a Dow Jones Industrial stock moved below $193.51 setting an intermediate downtrend.

Commerce Bank $CM.CA, a TSX 60 stock moved above $116.60 extending an intermediate uptrend.

Breakout by CM.CA helped BMO Equal Weight ETF $ZEB.CA to move above $29.60 extending an intermediate uptrend.

'Tis the season for Canadian Financials (particularly banks) to move higher on a real and relative basis to the end of September! $ZEB.CA

Emerging Markets iShares $EEM showing early signs of bottoming on a move above $44.20.

India ETF $PIN completed a double bottom pattern on a move above $23.35.

'Tis the season for India equity indices to move higher to December! $PIN

Gildan Activewear $GIL.CA, a TSX 60 stock moved below $35.88 and $35.44 extending an intermediate downtrend.

U.S. steel stocks and ETF $SLX notably stronger led by a breakout by Nucor $NUE. Trade war impact?

Advantage Oil & Gas $AAV.CA moved above $4.40 completing a base building pattern.

Metro $MRU.CA, a TSX 60 stock moved below $43.24 completing a double top pattern.

Finning International $FTT.CA moved below $31.99 setting an intermediate downtrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for July 24th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for July 24th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for July 24th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Headline reads," Earnings beats don't mean the market will rise". Following is a link:

https://www.valuetrend.ca/earnings-beats-dont-mean-the-market-will-rise/

S&P 500 Momentum Barometer

The Barometer added 0.60 to 64.60 yesterday despite the 0.48% gain by the Index. It remains intermediate overbought

TSX Momentum Barometer

The Barometer dropped another 2.07 to 53.11 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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