Tech Talk for Wednesday August 4th 2021
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.
Index futures moved slightly lower following release of the July ADP Non-farm Employment report at 8:15 AM EDT. Consensus was an increase of 653,000 versus an increase of 680,000 in June. Actual was an increase of 330,000
Lyft advanced $0.62 to $56.00 after reporting higher than consensus second quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/08/clip_image0011-1.png "clip_image001[1]")
Activision advanced $4.37 to $84.20 after reporting higher than consensus second quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/08/clip_image0021-2.png "clip_image002[1]")
Match dropped $7.13 to $151.34 after reporting lower than consensus second quarter earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/08/clip_image0031-1.png "clip_image003[1]")
General Motors dropped $1.58 to $56.30 after reporting lower than consensus second quarter earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/08/clip_image0041-2.png "clip_image004[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/08/03/stock-market-outlook-for-august-4-2021/
Technical Notes released yesterday at
TSX Composite Index $TSX.CA advanced above its inter-day all-time high at 20,381.70 and its all-time closing high at $20,290.60
Take Two $TTWO a NASDAQ 100 stock moved below $161.70 and $161.30 setting an intermediate downtrend.
Cadence Design Systems $CDNS a NASDAQ 100 stock moved above $149.08 to an all-time high extending an intermediate uptrend.
Electronic Arts $EA a NASDAQ 100 stock moved below $137.60 setting an intermediate downtrend.
Cerner $CERN a NASDAQ 100 stock moved above $81.34 resuming an intermediate uptrend.
Fiserv $FISV a NASDAQ 100 stock moved below $106.05 extending an intermediate downtrend.
BCE Inc. $BCE.CA a TSX 60 stock moved above $62.70 to an all-time high extending an intermediate uptrend.
Power Corp. $POW.CA a TSX 60 stock moved above $39.97 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 3rd 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 3rd 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 3rd 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
Crude oil futures have a history of peaking on a real and relative basis (relative to the S&P 500 Index) early in July and moving lower to the first week in December. This year, intermediate peak was reached at the first week of July. Additional technical deterioration appeared yesterday when relative strength changed to Negative and 20 and 50 day moving averages were broken.
S&P 500 Momentum Barometers
The intermediate term Barometer added 5.41 to 60.92 yesterday. It changed from Neutral to Overbought on a move above 60.00.
The long term Barometer added 0.40 to 87.78 yesterday. It remains Extremely Overbought.
TSX Momentum Barometers
The intermediate term Barometer slipped 0.28 to 58.05 yesterday. It remains Neutral.
The long term Barometer slipped 0.38 to 77.07 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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