Observations Energy and related equities/indices on both sides of the border recorded significant technical weakness yesterday. See changes in technical score below On average on July 17th during the past 20 years, U.S equity markets have a history of entering into a period of greater volatility and lower prices: StockTwits released yesterday @EquityClock Silver ETN $SLV moved above $14.54 extending an intermediate uptrend. Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $MAT $MSCI $FDX $JBHT $UNP $JNPR. Breakdown: $FRC Editor’s Note: After 10:00 AM EDT, intermediate breakouts included GPS, NSC, LKQ, IBM, HSY, CLX and TDG. Breakdowns included EA, APA, MUR and PXD. Nickel ETN $JJNTF moved above $16.50 setting an intermediate uptrend. Electronic Arts $EA, a NASDAQ 100 stock moved below $89.91 setting an intermediate downtrend Industrial SPDRs $XLI moved above $78.73 to an all-time high extending an intermediate uptrend. IBM $IBM, a Dow Jones Industrial stock moved above $143.68 extending an intermediate uptrend. Silver stocks are responding to the breakout by silver. Pan American Silver $PAAS moved above $13.62 setting an intermediate uptrend. Another precious metals producer breakout! New Gold $NGD.CA moved above $1.75 extending an intermediate uptrend. Aecon Group $ARE.CA moved above $19.77 extending an intermediate uptrend Canadian Pacific CP.CA, a TSX 60 stock moved above $317.89 to an all-time extending an intermediate uptrend Base metal stocks moving higher on higher base metal prices. Nice breakouts by $VALE $FM.CA. Others: $TECK.B.CA $LUN.CA Oil and Gas producers on both sides of the border that broke intermediate support today: $APA $MUR $ECA.CA More "gassy" energy stocks/ETF breakdowns: $PXD $ECA $FCG Trader’s Corner Equity Indices and related ETFs Daily Seasonal/Technical Equity Trends for July 16th 2019 Green: Increase from previous day Red: Decrease from previous day Commodities Daily Seasonal/Technical Commodities Trends for July 16th 2019 Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for July 16th 2019 Green: Increase from previous day Red: Decrease from previous day S&P 500 Momentum Barometer The Barometer slipped 1.00 to 82.60 yesterday. It remains intermediate overbought. TSX Momentum Barometer The Barometer dropped 1.56 to 59.48 yesterday. It changed to intermediate neutral on a move below 60.00 and showing early signs of rolling over. 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