Tech Talk for Friday July 13th 2018

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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:

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


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.


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


StockTwits Released Yesterday @EquityClock $AMZN, a Dow Jones Industrial stock moved above $1763.10 to an all-time high extending an intermediate uptrend.


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


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.


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


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


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!


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


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



Trader’s Corner

Daily Seasonal/Technical Equity Trends for July 12th 2018


Green: Increase from previous day

Red: Decrease from previous day


Daily Seasonal/Technical Commodities Trends for July 12th 2018


Green: Increase from previous day

Red: Decrease from previous day


Daily Seasonal/Technical Sector Trends for July 12th 2018


Green: Increase from previous day

Red: Decrease from previous day


S&P 500 Momentum Barometer


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


TSX Momentum Barometer


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



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Disclaimer: Seasonality and technical ratings offered in this report and at 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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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:


    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:


    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:

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

  5. Bernie Says:


    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!

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