Tech Talk for Thursday July 25th 2019

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Pre-opening Comments for Thursday July 25th

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims is an increase to 219,000 from 216,000 last week. Actual was 206,000. Consensus for June Durable Goods Orders was an increase of 0.5% versus a drop of 1.3% in May. Actual was an increase of 2.0%. Excluding transportation orders, consensus for June Durable Goods Orders was an increase of 0.2% versus a gain of 0.4% in May. Actual was an increase of 1.2%.

The European Central Bank maintained its overnight lending rate at current levels.

Tesla plunged $30.73 to $209.30 after reporting lower than consensus unit sales.

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Facebook added $4.64 to $209.30 after reporting higher than consensus second quarter operating earnings.

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PayPal fell dropped $4.70 to $116.60 after lowering guidance

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Ford dropped $0.56 to $9.77 after reporting lower than consensus second quarter revenues. The company also lowered guidance.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/07/24/stock-market-outlook-for-july-25-2019/

Note seasonality charts on Crude Oil Days of Supply and New Home Sales

StockTwits released yesterday @EquityClock

Semiconductor ETF $SMH moved above $120.71 to an all-time high and $SOXX moved above $217.11 to an all-time high extending an intermediate uptrend

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Auto Manufacturer ETF $CARZ moved above $33.40 setting an intermediate uptrend

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Rio Tinto $RIO moved below $59.16 in response to lower iron concentrate prices setting an intermediate downtrend

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US New Home Sales down 1.7% (NSA) in June, better than the average decline for the month of 2.6%. $MACRO #Economy #Housing

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Chevron $CVX, a Dow Jones Industrial stock moved above $126.10 and$126.38 to an all-time high extending an intermediate uptrend.

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Loblaw Companies $L.CA, a TSX 60 stock moved below $66.21 setting an intermediate downtrend.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 24th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for July 24th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for July 24th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Keith Richard’s Blog

Keith asks, “Are there safe markets to hide if U.S. markets decline”? Following is a link:

https://www.valuetrend.ca/are-there-safe-markets-to-hide-in-if-us-markets-decline/

 

S&P 500 Momentum Barometer

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The Barometer added 1.80 to 80.40 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer added 4.74 to 64.66 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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One Response to “Tech Talk for Thursday July 25th 2019”

  1. Larry/ON Says:

    GOOGL – Blow out earnings! Interesting how many warnings there were about it going into earnings.
    AMZN – Miss – It’s creating a buying opportunity. Okay there were warnings on AMZN too.

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