by Don Vialoux, EquityClock.com
Responses to the FOMC announcement at 2:00 PM EDT
Yesterday, the Federal Reserve chose to maintain the Fed Fund Rate at 0.00%-0.25% and to continue an accommodative monetary policy. Impacts on markets were as follows:
S&P 500 Index recovered initially, but closed virtually unchanged.
The U.S. Dollar Index ETN initially moved higher, but moved lower to the close.
Yield on 10 year bonds was up slightly.
Industrial commodity prices moved slightly lower.
Gold ETN moved higher
Bitcoin initially moved higher, but closed near unchanged
Technical Notes released yesterday at
The year-to-date change of home prices in the US remains record setting, which bodes well for the economy longer-term. equityclock.com/2021/07/27/… $SPX $SPY $STUDY #Housing #Economy
Israel iShares $EIS moved above $70.59 to an all-time high extending an intermediate uptrend.
Pharmaceutical ETF $PPH moved above $74.71 to an all-time high extending an intermediate uptrend.
General Dynamics $GD an S&P 100 stock moved above $196.26 extending an intermediate uptrend.
Advanced Micro Devices $AMD a NASDAQ 100 stock moved above $95.44 extending an intermediate uptrend.
Another copper stock responding to rising copper prices! Southern Copper $SCCO, one of the world’s largest copper producer stocks moved above $65.50 setting an intermediate uptrend
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for July 28th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for July 28th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 28th 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
Notes and video from uncommon Sense Investor
Thank you to Mark Bunting and www.uncommonsenseinvestor.com for a link to the following comments and video. Topic is “Three things you need to know about investing in ETFs”.
https://uncommonsenseinvestor.com/three-things-you-need-to-know-about-investing-in-etfs/
Market Buzz
Greg Schnell discusses commodities. Following is a link:
https://www.youtube.com/watch?v=OBlPr3daPKU
The Pitch
Outlook comments by three technical analysts from www.stockcharts.com including Greg Schnell (with a favourable comment on Southern Copper).
https://www.youtube.com/watch?v=dMRVHpacUZc
Seasonality Chart of the Day
Ratings on a real and relative basis for the TSX Info Tech sector change from Negative to Neutral at the end of July. The sector usually performs well in the month of August followed by weakness into September and October. An important seasonal low is reached at the end of October.
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 1.80 to 54.31 yesterday. It remains Neutral.
The long term Barometer was unchanged at 89.78 yesterday. It remains Extremely Overbought.
TSX Momentum Barometers
The intermediate term Barometer slipped 0.23 to 51.94 yesterday. It remains Neutral.
The long term Barometer added 1.33 to 75.24 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
This post was originally publised at Vialoux's Tech Talk.
