Tech Talk for Wednesday July 3rd 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:15 AM and 8:30 AM EDT. Consensus for June ADP Private Employment was 140,000 versus 27,000 in May. Actual was 102,000 .Consensus for May U.S. Trade Deficit was $53.5 billion versus upwardly revised $51.2 billion in April. Actual was $55.5 billion . Consensus for Weekly Jobless Claims was a drop to 223,000 from 229,000 last week. Actual was 221,000.

The Canadian Dollar advanced 0.04 to U.S.76.39 cents following release of the May Canadian Trade Balance at 8:30 AM EDT. Consensus was a deficit of $1.60 billion versus a deficit of $0.97 billion in April. Actual was a surplus of $760,000

Tesla jumped $16.78 to $240.35 on news that the company set new delivery and production records in the second quarter.

Symantec gained $3.70 to $25.80 on rumors that the company is in takeover talks with Broadcom.

Merck added $0.40 to $85.91 after Mizuho Securities initiated coverage with a Buy rating and a $97 target price.

Starbucks improved $0.45 to $85.96 after Stifel Nicolaus raised its target price to $86 from $65.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/07/02/stock-market-outlook-for-july-3-2019/

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00:Quiet. One breakout: $DAL. No breakdowns.

Rogers Communications $RCI, a TSX 60 stock moved above $54.06 U.S. extending an intermediate uptrend.

Rio Tinto $RIO moved above $63.27 to a 10 year high extending an intermediate high. The stock is responding to higher iron concentrate prices.

Imperial Oil $IMO.CA, a TSX 60 stock moved below $35.65 setting an intermediate downtrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 2nd 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for July 2nd 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 2nd 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 1.00 to 76.40 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 1.48 to 54.04 yesterday. It remains intermediate neutral.

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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