Tech Talk for Friday July 13th 2018

Daily Reports Add comments

Pre-opening Comments for Friday July 13th

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

JP Morgan gained $0.92 to $107.77 after reporting higher than consensus second quarter earnings.

Citigroup eased $0.91 to $67.60 after reporting lower than consensus second quarter revenues.

Wells Fargo dropped $1.55 to $54.48 after reporting lower than consensus second quarter revenues.

Delta Airlines slipped $0.03 to $50.70 after Stifel Nicolaus lowered its target price to $95 from $100.

AT&T dropped $0.48 to $31.75 after Raymond James downgraded the stock from Outperform to Market Perform

Johnson & Johnson dropped $2.48 after the company was hit with a $4.7 judgement related to talc based products.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/07/12/stock-market-outlook-for-july-13-2018/

Note seasonality charts on the Dow Jones Industrial Average and the U.S. Consumer Price Index

Observations

Technology stocks and related ETFs led strength in equity markets yesterday on both sides of the border. Technology SPDRs and TSX Technology ETF broke to all-time highs.

clip_image001

Sugar prices continue to collapse. Yesterday, the Sugar ETN broke support at $21.38 to reach an all-time low.

clip_image002

StockTwits Released Yesterday @EquityClock

Amazon.com $AMZN, a Dow Jones Industrial stock moved above $1763.10 to an all-time high extending an intermediate uptrend.

clip_image003

Microsoft $MSFT, a Dow Jones Industrial stock moved above $102.69 to an all-time high extending an intermediate uptrend.

clip_image004

Tech action by S&P 500 stocks to 10:00: Bullish. Breakouts: $AMZN $CTAS $CA $EA $FISV $MSFT $TSS $VRSN $ATVI $BLL $PYPL $MNK. Breakdown: $AVGO

Editor’s Note: After 10:00 AM EDT, intermediate breakouts included MCO, CMCSA, CTXS and WM. Breakdowns included AFL and IVZ.

clip_image005

George Weston $WN.CA, a TSX 60 stock moved above $108.28 extending a Reverse Head & Shoulders pattern.

clip_image006

Loblaws $L.CA has an identical technical pattern to Weston $WN.CA: extending a Reverse Head & Shoulders pattern.

clip_image007

Technology SPDRs $XLK moved above $72.17 to an all-time high extending an intermediate uptrend.

Editor’s Note: Ditto for the NASDAQ Composite Index!

clip_image008

US #CPI up 0.2% (NSA) In June, inline with the average change for the month. $MACRO #Economy #Inflation

clip_image009

Celestica $CLS.CA moved above $16.21 Cdn. extending an intermediate uptrend.

clip_image010

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for July 12th 2018

clip_image012

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for July 12th 2018

clip_image014

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for July 12th 2018

clip_image016

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

clip_image017

The Barometer gained 5.60 to 66.60 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

clip_image018

The Barometer added 2.08 to 63.75 yesterday. It remains intermediate overbought.

 

clip_image019

Join me at The MoneyShow Toronto, September 14-15, 2018, at the Metro Toronto Convention Centre, where you can meet face-to-face with North America’s leading market experts and get answers to your investing and trading questions. The MoneyShow is committed to providing you with one-stop, personal access to 50+ world-renowned experts in the investment and trading industry. The Show will  provide you with non-commercial insights and specific recommendations that will help you create your 2018-2019 investment plan to profit.

When you attend The MoneyShow in Toronto you’ll hear top experts’ opinions on global markets and the economy; cannabis and cryptocurrencies, stocks, income, and bonds; ETFs, commodities, options, and trading during the 60+ presentations, interactive workshops, live trading demonstrations, and exciting panel discussions. Don’t miss out!

clip_image020

Attend My Free Presentation(s):

                       

clip_image022

Donald Vialoux

Saturday, September 15, 2018 | 9:15 am – 10:00 am
Timing the Market Using Fundamental, Technical, and Seasonality Analysis

Looking for the investors’ edge? Traditional investment selection starts with fundamental analysis, followed by technical analysis, followed occasionally by seasonality analysis. Investors looking for higher-than-average returns do the opposite: First, they use seasonality analysis to determine…

LEARN MORE ABOUT THE MONEYSHOW TORONTO

clip_image023

Full Schedule

Your free registration will provide you access to a plethora of quality presentations, workshops, panels, and special events, covering a wide variety of the latest investing and trading topics, trends, and projections.

clip_image024

Exhibit Hall

Experience the interactive Exhibit Hall, where you can meet representatives from 50+ global financial service companies! Test-drive and experience the latest in tools, products, and services available to investors and traders to reach your portfolio goals. 

 

clip_image025

2018 Speakers

These renowned market experts can help you anticipate the market reaction to the rising US interest rates, and the potential effect on the loonie and the Canadian economy. Analyze the current market environment and determine the hot spots for potential investment opportunities, while discerning the possible long-term consequences of geopolitical turmoil around the globe.

clip_image026

Hotel Information

Attendees of The MoneyShow Toronto can stay at the 4-diamond InterContinental® Toronto Centre Hotel. This contemporary hotel offers the perfect combination of luxury accommodations and convenience, in the heart of the city, just steps from many popular attractions, and only an elevator ride away from the conference.

 

The MoneyShow Toronto, September 14-15, 2018, will be your all-in-one resource for the most comprehensive investment and trading education, providing you with the knowledge you need to trade with confidence and invest for maximum profit! 

clip_image020[1]

 I look forward to seeing you in Toronto!

Sincerely,
Donald Vialoux

 

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

Sponsored By...



5 Responses to “Tech Talk for Friday July 13th 2018”

  1. Paula Says:

    RE tax planning on RRSP conversion to RRIF: After talking with my accountant he recommended converting enough to cover annual withdrawals of $2000 to get the tax free pension credit from age 65- 71. Can leave the remainder of the RRSP intact until mandatory conversion.

  2. DougP Says:

    Paula

    That seems like a sensible plan, Paula. I am 78 and have been taking only the mandatory amount. Its a modest account, and its there mainly to cover unexpected medical costs, which of course should be tax-deductible. The annual withdrawal pays for a nice fishing trip. Its always good to look for ways of reducing taxes. I could not have done this as I already had a Defined Benefit Plan. But my wife didn’t and she could have used this dodge. Too late now. A good post.

  3. Bernie Says:

    Paula,

    Re: #1 RRIF
    Makes perfect sense for you to wait until age 71 to convert if you don’t need the money now. Every individual’s situation is different. Its good that your accountant gave you peace of mind in your decision.

  4. Ron/BC Says:

    Bernie
    Good to hear you are still alive. I was just about to send a dog team out looking for you!!!!

  5. Bernie Says:

    Ron/BC,

    Yep still alive and well. I’m not “as involved” in my investing as I used to be so I haven’t commented much on here. Seems everyone is in “summer mode” anyway. 🙂 Hope you are well!

TopOfBlogs Finance Blogs
Entries RSS Comments RSS Log in