Tech Talk for Tuesday July 21st 2020

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Morning Technical Notes for Tuesday July 21st

Mondelez (MDLZ), an S&P 100 stock moved above $54.30 resuming an intermediate uptrend.

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Lululemon (LULU), a NASDAQ 100 stock moved above $324.76 to an all-time high extending an intermediate uptrend.

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Paccar (PCAR), a NASDAQ 100 stock moved above $79.38 and $80.00 extending an intermediate uptrend.

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Skyworks Solutions (SWKS), a NASDAQ 100 stock moved above $138.22 to an all-time high extending an intermediate uptrend.

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Willis Towers Watson(WLTW), a NASDAQ 100 stock moved above 209.20 extending an intermediate uptrend.

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Korea iShares (EWY) moved above $60.32 extending an intermediate uptrend.

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Russia ETF (RSX) moved above $21.88 extending an intermediate uptrend.

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Platinum ETN (PPLT) moved above $81.61 extending an intermediate uptrend.

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Sun Life (SLF), a TSX 60 stock moved above $53.32 extending an intermediate uptrend.

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Agnico-Eagle (AEM AEM.TO), a TSX 60 stock moved above $US69.44 to an all-time high extending an intermediate uptrend.

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Pre-opening Comments for Tuesday July 21st

U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US74.34 cents following release of Canadian May Retail Sales at 8:30 AM EDT. Consensus was an increase of 20.0% versus a decline of 22.0% in April. Actual was an increase of 18.7%. Excluding auto sales, consensus for May Retail Sales was an increase of 11.9% versus a decline of 22.0% in April. Actual was an increase of 10.6%.

IBM advanced$5.63 to $132.000 after reporting higher than consensus second quarter earnings.

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Coca Cola added $1.03 to $47.15 after reporting higher than consensus second quarter earnings.

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Philip Morris gained $2.11 to $75.00 after reporting higher than consensus second quarter revenues and earnings.

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Twitter added $0.74 to $37.80 after Deutsche Bank raised its target price from $28 to $36.2

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/07/20/stock-market-outlook-for-july-21-2020/

Note seasonality chart on the Technology sector.

 

Technical Notes for July 20th

More strength in gold stocks! Franco-Nevada (FNV), a TSX 60 stock moved above US$152.39 to an all-time high extending an intermediate uptrend.

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Another Canadian gold stock breakout! Yamana Gold (YRI), a TSX 60 stock moved above Cdn$7.78 to a six year high extending an intermediate uptrend. Yamana is seeking a listing on the London Exchange.

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TSX Gold iShares (XGD) moved above $23.18 to an eight year high extending an intermediate uptrend.

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Open Text (OTEX), a TSX 60 stock moved above US$44.05 and Cdn$59.51 extending an intermediate uptrend.

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Metro (MRU), a TSX 60 stock moved above $59.16 resuming an intermediate uptrend.

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Texas Instruments (TSN), a NASDAQ 100 stock moved above $135.68 to an all-time high extending an intermediate uptrend.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 20th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Seasonal/Technical Commodities Trends for July 20th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for July 20th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting.com for a link to the following weekly report. Headline reads, “FAANGS fall, saviours fly, divergences abound, money expands, gold rises, Dollar falls, uncertainty rises”. Following is the link:

http://enrichedinvesting.com/wp-content/uploads/2020/07/FAANGS-fall-saviours-fly-divergences-abound-money-expands-gold-rises-Dollar-falls-uncertainty-rises.pdf

 

S&P Momentum Barometer

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The Barometer dropped 5.17 to 73.35 yesterday. It remains intermediate overbought

 

TSX Momentum Barometer

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The Barometer slipped 3.45 to 78.85 yesterday. It changed from extremely intermediate overbought to intermediate overbought on a move below 80.00.

 

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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2 Responses to “Tech Talk for Tuesday July 21st 2020”

  1. Ron/BC Says:

    The Gold Shares ETF:IAU has reached a major resistance level at $17.50 which was the 2012 highs. And has lost some momentum at this high.

    https://stockcharts.com/h-sc/ui?s=IAU&p=D&yr=10&mn=0&dy=0&id=p87645192303&a=673066227

  2. Ron/BC Says:

    Lots of $GOLD stocks breaking out over resistance and running up. The major Canadian Gold Stock ETF:XGD.to is breaking out over the May high of 23.18. And no, there is no guarantee the breakout will hold……………..

    https://stockcharts.com/h-sc/ui?s=XGD.TO&p=D&yr=1&mn=0&dy=0&id=p43989626243&a=673066137

    https://stockcharts.com/h-sc/ui?s=YRI.TO&p=D&yr=2&mn=0&dy=0&id=p61566290365&a=678233712

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