Tech Talk for Wednesday July 8th 2020
Pre-opening Comments for Wednesday July 8th
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.
Apple ( AAPL $372.69) is expected to open higher after Deutsche Bank raised its target price to $400.
![clip_image001[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0013.png "clip_image001[3]")
Air Products and Chemicals advanced $3.20 to $268.33 after Deutsche Bank raised its target price from $250 to $300.
![clip_image002[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0023.png "clip_image002[3]")
Walgreen Boots gained $1.48 to $43.70 after announcing plans to open 700 primary care practices in its stores.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0031-2.png "clip_image003[1]")
Alcoa added $0.62 to $11.85 after the company released a preliminary earnings report that beat consensus estimates.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0041.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/07/07/stock-market-outlook-for-july-8-2020/
Technical Notes
Gold Miners ETF (GDX) moved above $37.49 to an 8 year high extending an intermediate uptrend.
CheckPoint Software (CHKP), a NASDAQ 100 stock moved above $112.96 extending an intermediate uptrend.
Silver Miners ETF (SIL) moved above $37.53 to a 30 month high extending an intermediate uptrend.
Take Two Interactive Software (TTWO), a NASDAQ 100 stock moved above $149.28 to an all-time high extending an intermediate uptrend.
Allstate (ALL), an S&P 100 stock moved below $92.70 setting an intermediate downtrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for July 7th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for July 7th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 7th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0011-4.png "clip_image001[1]")
The Barometer dropped 9.62 to 65.33 yesterday. It remains intermediate overbought and has resumed rolling over.
TSX Momentum Barometer
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/07/clip_image0021-4.png "clip_image002[1]")
The Barometer slipped 3.10 to 70.95 yesterday. It remains intermediate overbought.
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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