Tech Talk for Wednesday August 3rd 2022

U.S. equity index futures were higher this morning. S&P 500 futures were up 24 points in pre-opening trade.

Starbucks added $1.98 to $85.69 after reporting higher than consensus fiscal third quarter revenues and earnings.

Advanced Micro Devices dropped $6.28 to $93.01 after lowering third quarter guidance below consensus estimates.

PayPal gained $8.50 to 498.13 after reporting higher than consensus second quarter revenues and earnings.

Electronic Arts advanced $1.14 to $130.03 after reporting higher than consensus fiscal first quarter earnings.

EquityClock's Daily Comment

Headline reads "Defensive groups in the Staples and Utilities sectors popping up as areas to Accumulate in this week's chart books". Following is a link:

http://www.equityclock.com/2022/08/02/stock-market-outlook-for-august-3-2022/

Technical Notes for yesterday

TSX Information Technology iShares $XIT.TO moved above $35.00 extending an intermediate uptrend.

PayPal $PYPL a NASDAQ 100 stock moved above $89.32 extending an intermediate uptrend.

Fastenal $FAST a NASDAQ 100 stock moved above $51.64 extending an intermediate uptrend.

Rogers Communications $RCI $RCI.B.TO a TSX 60 stock moved below US$44.53 and Cdn$57.90 extending an intermediate downtrend.

Restaurants Brands International $QSR.TO a TSX 60 stock moved above Cdn$69.19 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 2nd 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 2nd 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 2nd 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

Link offered by valued provider

Tom Bowley says "Falling yields spurring stocks"

https://www.youtube.com/watch?v=vop_U4K_7Ok

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 4.60 to 71.80 yesterday. It remains Overbought.

The long term Barometer slipped 2.80 to 33.40 yesterday. It remains Oversold.

TSX Momentum Barometers

The intermediate term Barometer slipped 6.30 to 55.04 yesterday. It changed from Overbought to Neutral on a drop below 60.00.

The long term Barometer slipped 1.26 to 36.55 yesterday. It remains Oversold.

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