Tech Talk for Friday July 3rd 2020

Daily Reports Add comments

To our American readers:  Enjoy a safe and happy Fourth of July weekend!

Pre-opening Comments for Friday July 3rd

The Canadian equity market is expected to be quiet today, typical when U.S. equity markets are closed. U.S. markets are closed for the Independence Day holiday. U.S. equity index futures were down 0.30% in overnight trade.

Other equity markets around the world were mixed overnight. European equity markets were lower by almost 1.0%. Far East equity markets were higher. Focus on Far East equity markets was on the Chinese equity market. The Shanghai Composite Index moved above 3,127.10 by adding another 62.24 to a 3,152.81, a 15 month high. Strength was triggered by strength in the Caixin Purchasing Managers Index from 55.0 in May to a 10 year high at 58.4.

clip_image001[1]

 

Technical Notes

Shanghai Composite Index moved above 3,074.17 to a six month high at 3,091. Testing 3,127.10.

clip_image001

China Large Cap iShares (FXI) moved above $41.30 extending an intermediate uptrend.

clip_image002

Emerging Markets iShares (EEM), heavily weighted with Chinese stocks, moved above $41.07 extending an intermediate uptrend.

clip_image003

Hong Kong iShares (EWH) moved above $21.97 to extending an intermediate uptrend.

clip_image004

Biotech ETF (BBH) moved above $164.69 to an all-time high extending an intermediate uptrend.

clip_image005

Fastenal (FAST), a NASDAQ 100 stock moved above $43.20 to an all-time high extending an intermediate uptrend.

clip_image006

ANSYS (ANSS), a NASDAQ 100 stock moved above $299.06 to an all-time high extending an intermediate uptrend.

clip_image007

QUALCOMM, (QCOM), a NASDAQ 100 stock moved above $92.14 extending an intermediate uptrend.

clip_image008

Verisk (VRSK), a NASDAQ 100 stock moved above $173.48 to an all-time high extending an intermediate uptrend.

clip_image009

Intuit (INTU), a NASDAQ 100 stock moved above $306.23 to an all-time high extending an intermediate uptrend.

clip_image010

Global Copper Miners ETF (COPX) moved above $17.75 extending an intermediate uptrend.

clip_image011

TSX Technology iShares (XIT) moved above $39.92 to an all-time high extending an intermediate uptrend.

clip_image012

More forest product equity breakout! West Fraser moved above $48.63 extending an intermediate uptrend. Canfor moved above $12.23 extending an intermediate uptrend. Norbord moved above $31.25 extending an intermediate uptrend.

clip_image013

clip_image014

clip_image015

Grain ETN:((JJGTF) (one third each in corn, wheat and soybeans) moved below $16.90 extending an intermediate downtrend.

clip_image016

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 2nd 2020

clip_image018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for July 2nd 2020

clip_image020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 2nd 2020

clip_image022

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

Sponsored By...



5 Responses to “Tech Talk for Friday July 3rd 2020”

  1. tony Says:

    To our american friend happy 4th of july.

  2. tony Says:

    to all paypal users be careful,

    I was hacked last week. I received sms alert about a transaction I never did, through paypal I only saw one transaction but on my credit card I had 4 transactions of 100 USD, the thief was a website fiverr.com.

    I don’t use my paypal account that often. so it was easy to get it cleared.

  3. tony Says:

    Just so you know it had something to do about bitcoins.

  4. Larry/ON Says:

    Re 2: Sorry to here that Tony. I have a phobia of putting my bank account number on the internet for etransfers etc. I know someone in Europe who thieves somehow almost transferred a six figure sum of money out of his account and it was stopped at the last minute.
    I second the Happy July 4th greetings to our US friends. Not much going on when they shut down.
    Mike Santoli has a good article on CNBC on the state of the market looking at historical precedents. I always like his articles.

  5. JP/BC Says:

    Thanks for the warning Tony. Let’s hope Paypal can shut the scum down that did this to you.

Entries RSS Comments RSS Log in