Tech Talk for Wednesday August 18th 2021

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.

Index futures were virtually unchanged following release of July U.S. Housing Starts at 8:30 AM EDT. Consensus was a slip to 1.608 million units from1.643 million units in June. Actual was a drop to 1.534 million units.

The Canadian Dollar added 0.12 at US79.37 cents following release of Canada's July Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.3% in June. Actual was an increase of 0.6%.

Tilray added $0.98 to US$14.10 after announcing purchase of an interest in U.S. based Medman for $165.8 million

Lowes Companies dropped $11.22 to $171.04 despite reporting higher than consensus second quarter revenues and earnings. The company also offered positive guidance for the third quarter.

Target slipped $7.60 to $247.05 despite reporting higher than consensus second quarter revenues and earnings. The company also announced expansion of its share buyback program.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/08/17/stock-market-outlook-for-august-18-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

Solar ETF $TAN moved below $77.49 setting an intermediate downtrend.

Chinese tech stocks remain under technical pressure. NetEase $NTES a NASDAQ 100 stock moved below $82.50 extending an intermediate downtrend.

The heat in the manufacturing economy has cooled with the price of copper remaining the tell. equityclock.com/2021/08/16/… $STUDY $CPER $FCX $HG_F #Copper #Economy #Manufacturing

Oracle $ORCL an S&P 100 stock moved above $91.20 to an all-time high extending an intermediate uptrend.

AbbVie $ABBV an S&P 100 stock moved above $119.15 to an all-time high extending an intermediate uptrend.

Kinder Morgan $KMI an S&P 100 stock moved below $16.66 extending an intermediate downtrend.

Pinduoduo $PDD a NASDAQ 100 stock moved below $77.66 extending an intermediate downtrend

Lam Research $LRCX a NASDAQ 100 stock moved below $575.33 setting and intermediate downtrend.

Lowe’s $LOW an S&P 100 stock moved below $183.70 setting an intermediate downtrend.

Merck $MRK a Dow Jones Industrial Average stock moved above $78.77 extending an intermediate uptrend.

BMO Equal Weight Cdn. Energy ETF $ZEO.CA moved below $39.37 extending an intermediate downtrend.

Imperial Oil $IMO.CA a TSX 60 stock moved below $32.87 extending an intermediate downtrend.

More Canadian energy breakdowns! Vermillion $VET.CA moved below $7.96 completing a double top pattern.

Saputo $SAP.CA a TSX 60 stock moved below $35.49 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 17th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 17th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 17th 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

Seasonality Chart of the Day from www.EquityClock.com

Lithium is about to enter a period of seasonal strength on a real and relative basis (relative to the S&P 500 Index) from August 20th to at least November 10th .

On the charts, Lithium recently rolled over from overbought levels. Preferred strategy is to defer purchases for now until units find indicated support near $75.

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 5.41 to 63.33 yesterday. It remains Overbought, but showing early signs of rolling over.

The long term Barometer dropped 2.40 to 81.76 yesterday. It remains Extremely Overbought and is trending down.

TSX Momentum Barometers

The intermediate term Barometer plunged 5.10 to 48.78 yesterday. It remains Neutral and has resumed trending down.

The long term Barometer dropped 1.61 to 68.29 yesterday. It remains Overbought and is trending down.

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