Tech Talk for Wednesday August 10th 2022

U.S. equity index futures were higher this morning. S&P 500 futures were up 60 points in pre-opening trade.

Index futures moved higher following release of the U.S. July Consumer Price Index report at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 1.3% in June. Actual was unchanged from June. On a year-over-year basis consensus was an increase of 8.8% versus 9.1% in June. Actual was an increase of 8.5%. Excluding food and energy, consensus for July CPI was an increase of 0.5% versus a gain of 0.7% in June. Actual was an increase of 0.3%. On a year-over-year basis, consensus was an increase of 6.1% versus a gain of 5.9% in June. Actual was unchanged from June at 5.9%.

H&R Block added $1.58 to $41.02 after reporting higher than consensus fiscal fourth quarter earnings.

Wynn Resort dropped $3.03 to $63.00 after reporting lower than consensus second quarter revenues.

Wendy's slipped $0.11 to $21.00 after reporting lower than consensus second quarter revenues.

EquityClock's Daily Comment

Headline reads "Investors are being observed de-risking around levels of significant resistance".

http://www.equityclock.com/2022/08/09/stock-market-outlook-for-august-10-2022/

Technical Notes for yesterday

Vertex Pharmaceuticals $VRTX a NASDAQ 100 stock moved above $296.84 extending an intermediate uptrend.

American International Group $AIG an S&P 100 stock moved above $53.41 completing a double bottom pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 9th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 9th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 9th 2021

Green: Increase from previous day

Red: Decrease from previous day

Link offered by a valued provider

Tom Bowley notes "S&P 500 short term top is here"

S&P 500 Short-Term TOP is Here | Tom Bowley | Trading Places (08.09.22) - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.00 to 72.80 yesterday. It remains Overbought.

The long term Barometer dropped 2.00 to 35.60 yesterday. It remains Oversold.

TSX Momentum Barometers

The intermediate term Barometer dropped 2.52 to 57.98 yesterday. It changed from Overbought to Neutral on a move below 60.00.

The long term Barometer slipped 0.84 to 36.97 yesterday. It remains Oversold.

Disclaimer: Seasonality ratings 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