Here's your update on US and Canadian markets, curated by Trading Central expert analysts! These are starting points for your own research to identify opportunities that make sense for you.
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| Here's your update on US and Canadian markets, curated by Trading Central expert analysts! These are starting points for your own research to identify opportunities that make sense for you. |
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| Last Price |
Technical Views |
Target |
Pivot |
Technical Views |
Last Price |
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| S&P/TSX 60 (TMX) |
2,156.80 |
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| Dow Jones (CME) |
53,851.00 |
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| Nasdaq 100 (CME) |
29,470.00 |
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| Russell 2000 (CME) |
2,980.00 |
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U.S. market futures are little changed as investors wait for Federal Reserve Chairman Kevin Warsh speech at the Jackson Hole Economic Policy Symposium.
On Thursday, the Nasdaq 100 jumped 417 points (+1.43%) to 29,641, boosted by a strong rally in tech stocks following upbeat results and guidance from Nvidia and several major software firms.
The S&P 500 advanced 55 points (+0.72%) to 7,730, and the Dow Jones was up 105 points (+0.20%) to 53,569.
On the stat front in the U.S. the Chicago Purchasing Managers' Index is seen at 57.0 in August vs 57.6 in July.
Canada's annualized gross domestic product is expected to grow 3.4% in the second quarter.
European indices slightly rebound. On the stat plan, French GDP was revised to flat year-on-year in the second quarter, versus a 0.2% increase in the preliminary estimate. In addition, first-quarter GDP was revised to -0.2%, from -0.1% initially. Still in France, inflation came in at 2.4% in August on a yearly basis in the preliminary reading, versus 2.2% expected, after 2.1% in the previous month.
Asian indices were mixed. Regarding stats, Japan's jobless rate fell to 2.4% in July, below 2.5% expected.
WTI crude oil prices hold above 83 dollars after rebounding yesterday.
Gold is little changed around 4,600 dollars.
Bitcoin still challenges the 80,000 dollars threshold. |
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Gap (GAP), an apparel retailer, soars after announcing a leadership change at its Old Navy brand. In addition, the group raised its earnings guidance for the current fiscal year.
Marvell Technology (MRVL) drops on profit taking as the chipmaker failed to significantly raise its long-term revenue outlook, despite a major AI chip deal with Google.
PayPal (PYPL), an online payment firm, tanks as a consortium led by Advent and Stripe has dropped its bid for the company, according to Bloomberg.
Rubrik (RBRK), a security and AI operations company, tumbles as adjusted gross margin missed estimates.
Autodesk (ADSK), a provider of computer-aided design software, slides as current quarter earnings guidance disappointed investors.
Affirm (AFRM), a fintech, soars as current quarter sales forecast topped expectations.
Take-Two Interactive Software (TTWO), a video game publisher, gains some ground following GTA 6 preview. |
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| No major earnings release expected. |
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VitalHub (VHI), a software company, was resumed "buy" at Canaccord Genuity.
Laurentian Bank of Canada (LB), a banking group, reported quarterly adjusted EPS down 35% to 0.51 dollar. |
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| No major earnings expected. |
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| S&P 500 (CME) (U6) intraday: bullish bias above 7702. |
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| Pivot: |
| 7702 |
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| Our preference: |
| Long positions above 7702 with targets at 7782 & 7821 in extension. |
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| Alternative scenario: |
| Below 7702 look for further downside with 7671 & 7656 as targets. |
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| Comment: |
| The RSI calls for a new upleg. |
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| S&P/TSX 60 (TMX) (U6) intraday: consolidation in place. |
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| Pivot: |
| 2163 |
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| Our preference: |
| Short positions below 2163 with targets at 2151 & 2148 in extension. |
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| Alternative scenario: |
| Above 2163 look for further upside with 2169 & 2174 as targets. |
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| Comment: |
| As long as 2163 is resistance, look for choppy price action with a bearish bias. |
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BULLISH TECHNICAL EVENTS (US) |
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| Technical Score |
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Short-Term |
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Medium-Term |
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Long-Term |
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| Quant Rating |
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68 |
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| Strong |
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Flag (Bullish)
| 22% move possible
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Trading closed at 932.86 to confirm a Short-Term Flag (Bullish) pattern.
Tells Me: The price seems to be resuming a sharp rally after taking a brief pause.
Read More
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| Technical Score |
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Short-Term |
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Medium-Term |
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Long-Term |
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| Quant Rating |
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70 |
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| Very Strong |
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Intermediate-term KST
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Trading closed at 45.65 to confirm an Intermediate-Term Intermediate-term KST pattern.
The KST, "Know Sure Thing", is an oscillator that combines multiple time frames into a single measure of momentum for a financial instrument. It can be interpreted in the same way as other smoothed oscillators but most commonly indicates bullish and bearish momentum signals as it crosses above and below its moving average respectively.
Read More
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BULLISH TECHNICAL EVENTS (CA) |
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| Technical Score |
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Short-Term |
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Medium-Term |
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Long-Term |
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| Quant Rating |
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71 |
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| Very Strong |
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Intermediate-term KST
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Trading closed at 7.85 to confirm an Intermediate-Term Intermediate-term KST pattern.
The KST, "Know Sure Thing", is an oscillator that combines multiple time frames into a single measure of momentum for a financial instrument. It can be interpreted in the same way as other smoothed oscillators but most commonly indicates bullish and bearish momentum signals as it crosses above and below its moving average respectively.
Read More
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| Technical Score |
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Short-Term |
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Medium-Term |
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Long-Term |
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70 |
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| Very Strong |
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Intermediate-term KST
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Trading closed at 63.54 to confirm an Intermediate-Term Intermediate-term KST pattern.
The KST, "Know Sure Thing", is an oscillator that combines multiple time frames into a single measure of momentum for a financial instrument. It can be interpreted in the same way as other smoothed oscillators but most commonly indicates bullish and bearish momentum signals as it crosses above and below its moving average respectively.
Read More
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Questrade, Inc.
5700 Yonge Street, Unit G1 – Ground Floor
Toronto, ON M2M 4K2 Canada
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