Tech Talk for Friday July 23rd 2021

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Pre-opening Comments for Friday July 23rd

U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US 79.59 cents following release of May Canadian Retail Sales at 8:30 AM EDT. Consensus was a drop of 3.0% versus a decline of 5.7% in April. Actual was a drop of 2.1%.

Twitter added $3.93 to $73.50 after reporting higher than consensus second quarter revenues and earnings.

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Sketchers advanced $3.85 to $55.06 after reporting higher than consensus second quarter revenues and earnings. The company also raised guidance.

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Intel dropped $1.45 to $54.50 despite reporting higher than consensus second quarter earnings. The company also lowered third quarter guidance.

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Snap jumped $11.15 to $74.12 after reporting higher than consensus second quarter revenues and earnings.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/07/22/stock-market-outlook-for-july-23-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

S&P/TSX Technology iShares $XIT.CA moved above Cdn$53.88 to an all-time high extending an intermediate uptrend.

Editor’s Note: Units are heavily weighted in Shopify.

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Shopify $SHOP.CA a TSX 60 stock moved above Cdn$1,974.99 to an all-time high extending an intermediate uptrend.

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The price of Bitcoin continues to trade within a descending triangle pattern. Find out how to trade it in today’s report. equityclock.com/2021/07/21/… $BTC.X $BTC_F $BCH.X $GBTC #Bitcoin

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NASDAQ Biotech iShares $IBB moved above $165.79 extending an intermediate uptrend. Seasonal influences also are positive until at least mid-September

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Honeywell $HON a Dow Jones Industrial Average stock moved above $234.02 to an all-time high extending an intermediate uptrend.

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Autodesk $ADSK a NASDAQ 100 stock moved above $303.69 extending an intermediate uptrend.

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Mercadolibre $MELI a NASDAQ 100 stock moved above $1,584.87 extending an intermediate uptrend.

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eBay $EBAY a NASDAQ 100 stock moved above $70.76 to an all-time high extending an intermediate uptrend

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T Mobile $TMUS a NASDAQ 100 stock moved below intermediate support at $143.10.

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Kinross Gold $K.CA a TSX 60 stock moved below Cdn$7.56 extending an intermediate downtrend.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 22nd 2021

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for July 22nd 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for July 22nd 2021

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Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

 

S&P 500 Momentum Barometers

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The intermediate term Barometer slipped 4.01 to 47.09 yesterday. It remains Neutral.

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The long term Barometer eased 1.80 to 86.57 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

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The intermediate term Barometer slipped 2.37 to 48.57 yesterday. It remains Neutral.

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The long term Barometer eased 1.20 to 72.86 yesterday. It remains 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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