Tech Talk for Wednesday July 28th 2021

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Pre-opening Comments for Wednesday July 28th

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

The Canadian Dollar was virtually unchanged at US79.56 cents following release of Canada’s June Consumer Price report at 8:30 AM EDT. Consensus was an increase of 0.4% versus a gain of 0.5% in May. Actual was an increase of 0.3%. The year-over year increase was 3.1%..

Apple dropped $3.07 to $143.70 after reporting higher than consensus fiscal third quarter revenues and earnings.

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Microsoft added $0.46 to $287.00 after reporting higher than consensus fiscal fourth quarter revenues and earnings.

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Alphabet advanced $84.00 to $2,722.00 after reporting higher than consensus second quarter revenues and earnings.

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Starbucks fell $3.73 to $122.30 despite reporting higher than consensus fiscal third quarter revenues and earnings

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/07/27/stock-market-outlook-for-july-28-2021/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

A shocking report on new home sales in the US pours cold water on the fundamental prospects for the home construction industry. equityclock.com/2021/07/26/… $ITB $XHB $PHM $LEN $DHI $STUDY #Economy #Housing

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Emerging Markets iShares $EEM moved below $51.51 and $51.19 setting an intermediate downtrend.

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Hong Kong iShares $EWH moved below $25.49 extending an intermediate downtrend. Responding to the crackdown on selected sectors by the Chinese government

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United Parcel Service $UPS an S&P 100 stock moved below $195.47 completing a double top pattern despite reporting higher than consensus second quarter results

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FedEx $FDX an S&P 100 stock moved below $73.20 completing a double top pattern

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Paccar $PCAR a NASDAQ 100 stock moved below $85.01 extending an intermediate downtrend.

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Base metal stocks are responding to higher copper prices. HudBay Minerals $HBM.CA moved above $8.89 setting a short term uptrend.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 27th 2021

spx july 28

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for July 26th 2021

crb july 28

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for July 27th 2021

xlk july 28

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 added 1.60 to 56.11 yesterday. It remains Neutral.

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The long term Barometer was unchanged at 89.78 yesterday. It remains Extremely Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer added 0.25 to 52.17 yesterday. It remains Neutral.

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The long term Barometer slipped 0.61 to 73.91 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




3 Responses to “Tech Talk for Wednesday July 28th 2021”

  1. bruce Says:

    CNBC is back…….

  2. Larry/ON Says:

    Hooray on CNBC back.

    Very nice earnings from the three megacap tech stocks TechTalk mentions -MSFT, AAPL, GOOGL. These are true buy and hold stocks that you add to on weakness.

    EQB – There were a couple of people following my pick. It is paying off now going into earnings at market close today. Resistance is coming up around 150. It has been a little volatile. If you are a good trader you can pick your spots or just buy a few shares and sock them away. Excellent growth small cap bank.

  3. dutchcanuck Says:

    Concensus forecast for Moderna (MRNA) 2ndQ results is $6.01/sh.
    Stock up 170% in 4 months. Not too shabby.

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