Pre-opening Comments for Tuesday July 26^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade.

Walmart plunged $7.70 to 124.32 after the company lowered fiscal second quarter and annual guidance. Other major retail stock prices also responded on the downside to the news.

Whirlpool gained $3.35 to 168.00 after reporting higher than consensus second quarter results.

Cadence Design Systems advanced $7.24 to $174.90 after reporting a second quarter earnings beat. The company also raised guidance.

MMM gained $5.36 to $139.48 after reporting higher than consensus second quarter revenues and earnings. The company also announced plans to spin off its health care division.

 

EquityClock’s Daily Comment

 

Headline reads “Stocks finally starting to show a footing as levels of resistance start to crack, but questions remain as to whether it is sufficient to fuel a sustainable rally beyond just a few days”. Following is a link:

http://www.equityclock.com/2022/07/25/stock-market-outlook-for-july-26-2022/

 

Technical Notes for yesterday

Emerson Electric $EMR an S&P 100 stock moved above $84.01 completing a double bottom pattern.

Telus $T.TO a TSX 60 stock moved above $29.10 completing a base building pattern.

TC Energy $TRP.TO a TSX 60 stock moved above $69.10 resuming an intermediate uptrend.

Canadian Pacific $CP.TO a TSX 60 stock moved above $96.07 extending an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 25^th 2022

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for July 25^th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 25^th 2021

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 4.20 to 60.40 yesterday. It changed from Neutral to Overbought on a move above 60.00. Trend remains up.

The long term Barometer added 3.00 to 25.80 yesterday. It remains Oversold. Trend remains up.

 

TSX Momentum Barometers

The intermediate term Barometer added 3.38 to 43.28 yesterday. It changed from Oversold to Neutral on a move above 40.00. Trend remains up.

The long term Barometer added 2.94 to 30.67 yesterday. It remains Oversold. Trend remains up.

 

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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