Tech Talk for Thursday July 28th 2022

Responses to the FOMC meeting released yesterday

Key markets responded as follows after the release at 2:00 PM EDT

S&P 500 Index rose sharply.

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The technology sensitive NASDAQ Composite Index and related ETFs led the advance.

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The U.S. Dollar Index and related ETF $UUP moved sharply lower.

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Yield on 10 year Treasuries moved lower

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Gold and precious metal prices moved higher

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Ditto for precious metal equities and related ETFs

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Technical Notes for yesterday

EAFA iShares $EFA moved above intermediate resistance at $64.22.

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Technology stocks and related ETFs led the advance yesterday. Notable breakout by NASDAQ 100 stocks included Synopsys $SNPS on a move above $342.59, ANSYSS $ANSS on a move above $267.11 and Paychex $PAYX on a move above $124.73 and T Mobile on a move above $138.99

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Breakouts by S&P 100 stocks that extended intermediate uptrends included McDonalds $MCD, Mondelez $MDLZ and Union Pacific $UNP

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Bank of Montreal $BMO.TO a TSX 60 stock moved above intermediate resistance at $126.95.

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Trader’s Corner

 

 

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 27th 2022

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for July 27th 2022

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for July 27th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

 

Link offered by a valued provider

Link offered by Mark Bunting and www.uncommonsenseinvestor.com

Three Mighty Mid-Cap Stocks – Uncommon Sense Investor

 

Next Meeting:

   Canadian Association for Technical  Analysis

 

Next meeting is tonight. Following are details:
Topic: CATA Meeting July 28 with Jermaine McGruder
Time: Jul 28, 2022 08:00 PM Eastern Time (US and Canada)

More information on CATA and its services is available (including a list of upcoming events) at www.canadianata.ca

 

S&P 500 Momentum Barometers

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The intermediate term Barometer added 13.40 to 67.80 yesterday. It changed from Neutral to Overbought on a move above 60.00. Trend remains up.

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The long term Barometer added 3.80 to 28.20 yesterday. It remains Oversold. Trend remains up.

 

TSX Momentum Barometers

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The intermediate term Barometer added 7.14 to 43.28 yesterday. It changed from Oversold to Neutral on a move above 40.00. Trend remains up.

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The long term Barometer added 2.52 to 31.51 yesterday. It remains Oversold. Trend remains up.

 

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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