Editor’s Note: Don Vialoux is scheduled to appear tomorrow (Friday) at 5:30 PM EDT on BNN’s Market Call Tonight Observations The Shanghai Composite Index briefly moved above 3,295.19 and 3,301.21 to reach a 21 month high. S&P 500 Index Performance in years ending in 7 Art Cashin mentioned this chart on CNBC yesterday. It implies that the S&P 500 Index in years ending in 7 peaks in late July, drops precipitously into late October and recovers thereafter to the end of the year. No recurring annual events were offered to explain the phenomenon. However, it is interesting to note that short and intermediate technical indicators in 2017 currently are overbought and showing early signs of rolling over. The Dow Jones Industrial Average reached a new all-time high milestone yesterday on a close above 22,000. The Average is price weighted, implying that higher priced stocks in the Average had a greater impact on its performance. According to a CNBC report last night, only six Dow Industrial Average stocks accounted for the last 1,000 points gain. Biggest contributors were Boeing, McDonalds, UnitedHealth and Apple. A slow summer movie season has impacted the movie theatre stocks StockTwits Released Yesterday @EquityClock Financials taking another stab at resistance despite falling yields. See http://www.equityclock.com/2017/08/01/stock-market-outlook-for-august-2-2017/ Technicals for S&P 500 stocks to 10:00: Mixed. Breakouts: $BBY $CB $ILMN $AAPL AME Breakdowns: $AN $PXD $AIZ $ABC $CAH $DVA $GGP Editor’s Note: After 10:00 AM EDT, breakouts included TRV, PHM and INTC. Breakdowns included NOV, MAC, BAX and MYL Tim Hortons increased its price for coffee today. No surprise based on this chart: $JO Pharmaceutical ETF $PPH moved below $57.43 completing a double top pattern. Travelers $TRV, a Dow Jones Industrial stock moved above $129.60 to all-time high extending an intermediate uptrend. Trader’s Corner Daily Seasonal/Technical Equity Trends for August 2nd 2017 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for August 2nd 2017 Green: Increase from previous day Red: Decrease from previous day * Excludes adjustment from rollover of futures contracts Daily Seasonal/Technical Sector Trends for August 2nd 2017 Green: Increase from previous day Red: Decrease from previous day S&P 500 Momentum Barometer The Barometer slipped another 1.13 to 63.60 yesterday. It remains intermediate overbought and trending down. TSX Momentum Barometer The Barometer added 1.47 to 47.50 yesterday. It remains intermediate neutral. Disclaimer: Seasonality and technical ratings offered in this report and 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