U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
U.S. equity index futures were virtually unchanged following release of the U.S. Second Quarter Productivity Report at 8:30 AM EDT. Consensus was an increase of 3.2% versus a gain of 5.4% in the first quarter. Actual was an increase of 2.3%.
Kansas City Southern gained $12.05 to $282.46 on expectations that Canadian Pacific will make a new offer to acquire the company at $300 per share. Value of the offer is estimated at $27 billion
AMC Entertainment added $1.80 to $35.60 after reporting a lower than consensus second quarter loss.
Nutrien added US$2.94 to $63.50 after reporting higher than consensus second quarter revenues. The company also raised guidance.
CF Industries slipped $1.07 to $46.00 after reporting lower than consensus second quarter revenues and earnings.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/08/09/stock-market-outlook-for-august-10-2021/
Technical Notes released yesterday at
7-10 year Treasuries iShares $IEF moved below intermediate support at $116.89 setting a possible double top pattern.
Frontier iShares $FM moved above $33.45 to an all-time high extending an intermediate uptrend.
NXP Semiconductors $NXPI a NASDAQ 100 stock moved above $215.82 to an all-time high extending an intermediate uptrend.
Incyte $INCY a NASDAQ 100 stock moved below $75.52 extending an intermediate downtrend.
Serius XM $SIRI a NASDAQ 100 stock moved below $6.25 setting an intermediate downtrend.
Gold ETN $GLD moved below $164.01 resuming an intermediate downtrend.
TSX Gold iShares $XGD.CA moved below $18.00 extending an intermediate downtrend
Several Canadian gold producer stocks moved below intermediate support with lower gold prices including Agnico-Eagle $AEM.CA and First Majestic $FR.CA
Silver ETN $SLV moved below $22.13 resuming an intermediate downtrend.
Pan American Silver $PAAS moved below $25.86 extending an intermediate downtrend. Responding to lower silver prices.
Advantage Oil and Gas $AAV.CA moved below Cdn$4.24 completing a double top pattern.
Rogers Communications $RCI a TSX 60 stock moved below US$50.55 completing a double top pattern.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 9th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 9th 2021
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
All seasonality ratings are based on performance relative to the S&P 500 Index
Talking Points
The following talking points were developed before offering an interview on Wolf on Bay Street on Radio 640 at 7:00 PM EDT on Saturday:
North American equity markets are following their historic trend during a Post U.S. Presidential Election Year
What about this year?
Other issues
What to do
Canada's bank sector has the characteristics of a special situation:
Special Situation Conclusion
Following is a link to the show:
Trader Management 101
Basic rules on how to trade! Following is the link:
The MAJOR KEY To Become a Successful Trader (Proper Equity Management Explained) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 1.80 to 61.52 yesterday. It remains Overbought.
The long term Barometer eased 0.40 to 84.17 yesterday. It remains Extremely Overbought.
TSX Momentum Barometers
The intermediate term Barometer dropped 1.94 to 51.46 yesterday. It remains Neutral.
The long term Barometer slipped 1.46 to 71.84 yesterday. It remains 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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