Tech Talk for Thursday July 5th 2018

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Pre-opening Comments for Thursday July 5th

U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade. Futures are responding to weakness in the U.S. Dollar Index.

Index futures were virtually unchanged following release of economic news. Consensus for June ADP employment was 180,000 versus revised 189,000 in May. Actual was 177,000. Consensus for Weekly Jobless Claims was 225,000 versus revised 230,000. Actual was 231,000.

General Motors gained $1.03 to $40.00 and Ford advanced $0.11 to $11.10 after the U.S. Administration offered a settlement on proposed tariffs on European autos.

Qorvo added $1.76 to $79.20 after KeyBanc Capital upgraded the stock to Overweight from Sector Weight.

FaceBook advanced $2.47 to $195.20 after BTIG raised its target price to $275 from $175.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/07/03/stock-market-outlook-for-july-5-2018/

Note seasonality chart on Manufacturers’ New Orders.

Observations

The TSX Composite Index recovered back above its 20 day moving average. Short term momentum indicators have bottomed. Technical score increased to 6 from 2.

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‘Tis the season for the TSX Composite Index to move higher to the third week in July in anticipation of strong second quarter revenues and earnings!

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StockTwit Released Yesterday @EquityClock

Another Canadian Gold Producer breakout! Yamana Gold $YRI.CA moved above $4.13 extending an intermediate uptrend.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for July 4th 2018

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Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for July 4th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for July 4th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

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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4 Responses to “Tech Talk for Thursday July 5th 2018”

  1. dave/ab Says:

    Junior gold down Bmo Junior gold -zjg. Blackwell gold index -xgd up. Debating where to put a little money. Leaning towards index.

  2. Kam Says:

    Gartman is short spx and his stop is 2741-2749. Lets stop him out folks.Or he be right this time if we tank. Fed minutes next

  3. KC Says:

    Hello RonBC,

    Can you please shed your thoughts and TA on teck/b.to ? If this $32 level holds, i suspect it is a decent buy in? Or do you feel it has a higher likelyhood of heading to a lower support?

    Thanks
    KC

  4. Ron/BC Says:

    KC
    TECK/B.to bounced off of long term support at $31.40 along with the RSI 8 re-crossing back above the 30 line. Should be good for a bounce although it has already picked up a buck. Odds are good for a bounce back……….Would not hold it below $31.

    http://stockcharts.com/h-sc/ui?s=TECK%2FB.TO&p=D&yr=1&mn=6&dy=0&id=p68722780601&a=579408433

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