Changes in seasonality ratings for equity markets at this time of year Most equity markets in the world (exceptions: Brazil and India) have a history of turning negative after July 18th when second quarter earnings report season approaches its peak. Their weakness often is related to increasing volatility into mid-October. What about this year? Most equity markets currently are intermediate overbought and are vulnerable to an “outside event” (e.g. failure to negotiate trade tariffs). Watch the VIX Index as a leading indicator. The following seasonality charts show history of the VIX Index and major equity markets (and their related ETFs) during the past 20 years. StockTwits Released Yesterday @EquityClock Barrick Gold .CA , a TSX 60 stock moved below $16.58 setting an intermediate downtrend. Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: . Breakdown: Editor’s Note: After 10:00 AM EDT, breakouts included ORLY, NTRS, ICE, AXP and JEC. Breakdowns: TSN, CVX Chevron , a Dow Jones Industrial stock moved below $120.06 completing a double top pattern. Norbord .CA moved below $52.15 completing a double top pattern. US Production of #Oil jumps to another record at 11 million barrels per day, up 12.5% year-to-date. $CL_F US #Housing Starts fall 9.9% (NSA) in June, a significant divergence compared to 2.3% increase that is average for month. $MACRO #Economy American Express , a Dow Jones Industrial stock moved above $102.87 to an all-time high extending an intermediate uptrend. Trader’s Corner Daily Seasonal/Technical Equity Trends for July 18th 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for July 18th 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Sector Trends for July 18th 2018 Green: Increase from previous day Red: Decrease from previous day S&P 500 Momentum Barometer The Barometer added 3.20 to 67.40 yesterday. It remains intermediate overbought. TSX Momentum Barometer The Barometer slipped 0.83 to 63.33 yesterday. It remains intermediate overbought 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