Tech Talk for Friday August 14th 2020
Applied Materials (AMAT), a NASDAQ 100 stock moved above $66.95 to an all-time high extending an intermediate uptrend. Target price was raised by Mizuho and Stifel Nicolaus this morning.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/08/clip_image0011-4.png "clip_image001[1]")
Pre-opening Comments for Friday August 14th
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
Index futures moved slightly higher following release of July Retail Sales at 8:30 AM EDT. Consensus for July Retail Sales was an increase of 1.9% versus a gain of 7.5% in June. Actual was.an increase of 1.2%. Excluding auto sales, consensus was an increase of 1.3% versus a gain of 7.3% in June. Actual was an increase of 1.9%.
Cineplex (CGX Cdn$8.19 ) is expected to open lower after reporting a higher than consensus quarter loss.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/08/clip_image0015-5.png "clip_image001[5]")
CF Industries added $0.33 to $35.29 after JP Morgan raised its target price from $35 to $45.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/08/clip_image0025-4.png "clip_image002[5]")
NVIDIA advanced $3.66 to $461.38 after Wedbush raised it target price from $420 to $500.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/08/clip_image0035-4.png "clip_image003[5]")
Applied Materials added $2.36 to $67.43 after Stifel Nicolaus and Mizuho raised their target price on the stock.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/08/clip_image0045-4.png "clip_image004[5]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/08/13/stock-market-outlook-for-august-14-2020/
Note seasonality chart on the VIX Index
Technical Notes for August 13th
Cisco (CSCO), a Dow Jones Industrial Average stock moved below $43.30 completing a double top pattern. The company lowered fiscal first quarter guidance.
Micron (MU), a NASDAQ 100 stock moved below $47.10 setting an intermediate downtrend.
The stock was downgraded by Deutsche Bank from Buy to Hold. Target price was reduced from $48 to $40.
KLA Tencor (KLAC), a NASDAQ 100 stock moved above $209.30 to an all-time high extending an intermediate uptrend.
Nikkei Average moved above 23,185.85 to 23,249.61 yesterday extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for August 13th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for August 13th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 13th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer slipped 3.01 to 79.16 yesterday. It changed from extremely intermediate overbought to intermediate overbought on a drop below 80.00.
TSX Momentum Barometer
The Barometer added 0.69 to 78.20 yesterday. It remains intermediate overbought.
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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