Tech Talk for Wednesday August 17th 2022
U.S. equity index futures were lower this morning. S&P 500 futures were down 37 points in pre-opening trade.
Index futures were virtually unchanged following release of the U.S. July Retail Sales report at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 1.0% in June. Actual was unchanged. Excluding auto sales, consensus was a slip of 0.1% versus a gain of 1.0% in June. Actual was a gain of 0.4%.
Lowe's gained $2.42 to 216.54 after reporting higher than consensus second quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0011-9.png "clip_image001[1]")
Target dropped $5.72 to $174.47 after reporting lower than consensus second quarter revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0021-12.png "clip_image002[1]")
Walmart slipped $1.24 to $138.13 despite increases in target price announced by MKM Partners, Deutsche Bank and Truist.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0031-8.png "clip_image003[1]")
Krispy Kreme dropped $1.85 to $12.67 after reporting less than consensus quarterly revenues and earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/08/clip_image0041-9.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "The average factory shutdown period in July was much tamer than average, but our concern for the manufacturing economy may be more appropriately placed with data to be released in the months ahead". Following is a link:
http://www.equityclock.com/2022/08/16/stock-market-outlook-for-august-17-2022/
Technical Notes for yesterday
Walmart $WMT a Dow Jones Industrial Average stock moved above $133.65 extending an intermediate uptrend.
Travelers $TRV a Dow Jones Industrial Average stock moved above intermediate resistance at $173.21.
McDonalds $MCD a Dow Jones Industrial Average stock moved above $265.46 extending an intermediate uptrend.
Colgate Palmolive $CL an S&P 100 stock moved above intermediate resistance at $81.52
Take Two $TTWO a NASDAQ 100 stock moved above $133.79 and $134.82 completing a base building pattern.
O'Reilly Automotive $ORLY a NASDAQ 100 stock moved above $748.68 to an all-time high extending an intermediate uptrend.
BCE $BCE a TSX 60 stock moved above $64.96 extending an intermediate uptrend.
Canadian Pacific $CP.TO a TSX 60 stock moved above $105.24 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 16th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 16th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 16th 2021
Green: Increase from previous day
Red: Decrease from previous day
Link from valued provider
Tom Bowley discusses "How Wall Street Thieves Steal Your Money".
How Wall Street Thieves Steal Your Money | Tom Bowley | Trading Places (08.16.22) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 1.00 to 92.00 yesterday. It remains Overbought.
The long term Barometer added 2.40 to 51.20 yesterday. It remains Neutral. Trend remains up.
TSX Momentum Barometers
The intermediate term Barometer slipped 0.42 to 73.53 yesterday. It remains Overbought.
The long term Barometer added 0.42 to 46.22 yesterday. It remains Neutral. Trend remains up.
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
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