Tech Talk for Wednesday July 8th 2020

Morning Technical Notes

Occidental Petroleum (OXY), an S&P 100 stock moved below $17.10 setting an intermediate downtrend.

Silver stocks continue to attract buying on strength in silver prices. Pan American Silver (PAAS) moved above $30.59 to an all-time high extending an intermediate uptrend.

Another base metals equity breakout! Hudbay Minerals (HBM) moved above $4.34 extending an intermediate uptrend.

Rogers Communications (RCI.B), a TSX 60 stock moved below $53.64 extending an intermediate downtrend.

Pre-opening Comments for Wednesday July 8^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

Apple ( AAPL $372.69) is expected to open higher after Deutsche Bank raised its target price to $400.

Air Products and Chemicals advanced $3.20 to $268.33 after Deutsche Bank raised its target price from $250 to $300.

Walgreen Boots gained $1.48 to $43.70 after announcing plans to open 700 primary care practices in its stores.

Alcoa added $0.62 to $11.85 after the company released a preliminary earnings report that beat consensus estimates.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/07/07/stock-market-outlook-for-july-8-2020/

Technical Notes

Gold Miners ETF (GDX) moved above $37.49 to an 8 year high extending an intermediate uptrend.

CheckPoint Software (CHKP), a NASDAQ 100 stock moved above $112.96 extending an intermediate uptrend.

Silver Miners ETF (SIL) moved above $37.53 to a 30 month high extending an intermediate uptrend.

Take Two Interactive Software (TTWO), a NASDAQ 100 stock moved above $149.28 to an all-time high extending an intermediate uptrend.

Allstate (ALL), an S&P 100 stock moved below $92.70 setting an intermediate downtrend.

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 7^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for July 7^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 7^th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped 9.62 to 65.33 yesterday. It remains intermediate overbought and has resumed rolling over.

TSX Momentum Barometer

The Barometer slipped 3.10 to 70.95 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