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Tech Talk Financial Network in Timing the market,

Tech Talk for Wednesday July 19th 2017

 

Observations

Weakness in the U.S. Dollar Index prompted strength in commodity prices.

Responses to second quarter reports since Friday are raising concerns. Unless reports were a positive surprise (e.g. Netflix, Johnson & Johnson, TD Ameritrade), most stocks moved lower (i.e. were sold on news) including Bank of America, Blackrock, Citigroup, Comerica, Charles Schwab, CSX, Goldman Sachs, IBM, JB Hunt, JP Morgan and Wells Fargo.

 

StockTwits Released Yesterday @EquityClock

Empire Manufacturing survey shows that the summer factory shutdown period is in full effect.

Technical action by S&P 500 stocks to 10:15: Quietly mixed. Breakouts: $NFLX $AMT $PLD. Breakdowns: $UA $VNO.

Editor’s Note: After 10:15 AM EDT, Breakouts included HAS, AMZN, ADBE and AON. Breakdown: JEC.

Thomson Reuters $TRI.CA moved below $58.03 completing a double top pattern.

Amazon.com $AMZN, one of the FANG stocks moved above $1,017.00 to an all-time high extending uptrend.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for July 18th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for July 178h 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

 

Daily Seasonal/Technical Sector Trends for July 18th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

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Editor’s Note: See you at the conference

 

S&P 500 Momentum Barometer

The Barometer slipped 1.60 to 70.20 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

The Barometer added 1.24 to 40.50 yesterday. It remain intermediate oversold and showing early signs of bottoming.

 

Disclaimer: Seasonality and technical ratings offered in this report and 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