Tech Talk for Tuesday August 7th 2018

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Pre-opening Comments for Tuesday August 7th

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

Marriott International dropped $3.53 to $125.75 after reporting lower than consensus second quarter revenues.

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Mosaic (MOS $30.10) is expected to open higher after reporting higher than consensus second quarter earnings. The company also raised its guidance.

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Bausch Healthcare, formerly Valiant Pharmaceuticals (BHC $29.59 Cdn.) is expected to open higher after reporting higher than consensus second quarter revenues.

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Mallinckrodt gained $3.35 to $27.70 after reporting higher than consensus second quarter earnings.

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EquityClock’s Daily Market Comment

http://www.equityclock.com/2018/08/06/stock-market-outlook-for-august-7-2018/

Note seasonality charts on Non-Farm Payrolls, Manufacturing and Monetary Authorities-Central Bank Activity

 

StockTwits Released Yesterday @EquityClock

Turkey iShares $TUR moved below $25.99 extending an intermediate downtrend.

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Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $HCP $BLL $DUK. Breakdown: $KORS.

Editor’s Note: After 10:00 AM EDT, breakouts included ESS, DISH, ALL, NE and ALLE. Breakdown: NWL

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S&P 500 SPDRs $SPY moved above $284.21 to an all-time high extending an intermediate uptrend.

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Trader’s Corner

Equities and Related ETFs

Daily Seasonal/Technical Equity Trends for August 6th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for August 6th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for August 6th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

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The Barometer added 3.00 to 67.00 yesterday. It remains intermediate overbought and showing signs of rolling over.

 

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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11 Responses to “Tech Talk for Tuesday August 7th 2018”

  1. Larry/ON Says:

    Bull Market In August – We still have the dreaded months of September and October to come. So far the best strategy has been to stay invested. SPY made a new all-time high but I am waiting for the SP500 itself to also make a new high which hopefully should happen shortly. Do not underestimate the strength of this bull market.
    Took a small position a few weeks ago in DB at $12. ING looking very interesting.

  2. Ron/BC Says:

    NTR

    Regarding really important stuff, has golfer here had experience or has any knowledge about the Titleist Pro V-1 golf ball compared to other golf balls??????????

  3. Bernie Says:

    Ron/BC

    NTR

    I’ve played with almost every golf ball out there but couldn’t tell you which one I prefer over the others. Unless you’re a very low handicapper you probably wouldn’t gain any advantage from playing a premium (expensive) ball. That said, golf is mostly a mental game. If you really like something, for whatever reason, you’ll have increased confidence in yourself to do well.

    These days I just buy my golf balls via a used 60 pack at Wal-Mart. They satisfy my needs. Wal-Mart has a very large selection of new and used golf balls. My suggestion is to buy there whether you desire an assorted or brand-specific pack.

    To answer your question, I have played with the Titleist Pro V-1 golf ball on occasion but have no recollection of its worthiness or performance over other balls.

  4. Ana Says:

    Congratulations to those people owning Tesla!

  5. Ron/BC Says:

    NTR
    Bernie.
    Thanks Bernie. I tried them today and wasn’t especially impressed. The used ones including the lost ones I’ve found seem to be the best or at least are consistent. Being that losing them isn’t costly helps the mindset. Not doing that great lately in this heat. Likely dehydrated. My partner is visiting friends in Calgary so am just entertaining myself.

  6. Ron/BC Says:

    The $SPX broke out above 284 today so if it can hold above this level and even just consolidate that would be very bullish.

    https://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=1&mn=0&dy=0&id=p80904522238&a=609133220

  7. Bernie Says:

    Ron/BC

    NTR
    Yes, its very hard on the body to be playing in the heat. Its physically draining from dehydration making one drowsy and, I find, tough to keep the sweat from running profusely. I carry an extra towel to dry off my face between shots. I seldom play well in adverse weather whether its raining, too hot or extremely windy.

    As for lost golf balls the penalty shots bother me more than the expense of losing a ball. Penalty strokes can make a bad game even worse.

  8. Ron/BC Says:

    Bernie
    NTR

    Well being a self employed small contractor most of my working life I got used to dealing with working outside in any weather, so often worked dehydrated. “Just deal with it” seems to be a necessity. And I never did like the heat. For a few years I ended up in the fall with one large kidney stone that was very painful as it slowly passed as it took several weeks to finally exit. But I don’t function very efficiently when dehydrated and it does sneak up on you so is hard to recognize. But my game the last two times out has been questionable to say the least. And adding to it by going for long walks along the waterfront later in the day doesn’t help the matter. But being bored by myself I’m not about to sit around doing nothing either. Tough call.
    As far as the penalty for losing a ball I don’t add penalty strokes on me or my partner. We just play another ball and chock it up to a ‘flub’. They call it a Mulligan in golf! I prefer my own rules which are fair and reasonable.

    “A mulligan is a second chance to perform an action, usually after the first chance went wrong through bad luck or a blunder. Its best-known meaning is in golf, whereby a player is informally allowed to replay a stroke, even though this is against the formal rules of golf.”

  9. dave/ab Says:

    Hi Ron
    I’m a golf nut. I to have tried many types of golf balls. Pro V-1 is a softcover ball. If you have difficulties hitting the ball almost perfectly in the sweet spot on your club constantly it is not for you. Off its on a soft cover ball creates more side spin. I do like the Titleist NXT ball. It is a harder cover and it has a good feel for pitching, chipping and putting. It does have better distance than the Pro V-1. It the end it is about having confidence in what you are using. But give the NXT a try for a few rounds, not just a few holes. You won’t be disappointed.

  10. Ron/BC Says:

    Hi Dave/AB
    NTR
    Thanks for the tip. I’ll givem’ a try. I’m also going to go to the range tomorrow and retry my Hybrids again. I watched a U-Tube video on using them and need to give them a try again. The video showed how you can use them for pitching onto the green and my pitching with irons sucks, so some practice at the range with the Hybrids might be worth the time. Haven’t used them since I first started golf a couple of years ago.

  11. dave/ab Says:

    Hi Ron

    I love the art of pitching and chipping. Interesting that they would like you to use a longer shaft club like a hybrid. Often with chipping you choke down on the club.

    Pitching I use Phil Mickelson technique hinge and hold with a 56 degree.
    https://www.youtube.com/watch?v=oxFY8p-TnQw
    https://www.youtube.com/watch?v=EgkcnZygGnY

    Chipping I use my 9 or pitching wedge off my back foot. (bump and run)
    https://www.youtube.com/watch?v=I2xbJnvbX2U

    Pitching wedge 50/50 air and roll
    9 iron 1/3 and 2/3 air and roll

    Hope this helps

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