Wall Street Raw The weekly radio show on Saturday hosted by Mark Leibovit is unavailable this week due to scheduling. Following are comments by Tech Talk prepared for the show: The Summer Rally continued as anticipated last week. Historically, the Summer Rally for U.S.and Canadian equity indices has occurred between late June and the third week in July. Main reason for the Summer Rally has been anticipation of strong second quarter sales and earnings reports by major companies. Results released to date by S&P 500 companies for the most part have exceeded consensus estimates that are calling for a year-over year gain of 20%. Look for more good second quarter results by S&P 500 companies as the earnings report season reaches a peak next week. Despite encouraging second quarter results by S&P 500 companies released to date, responses to reports were mixed at best. Unless blow out results were released, stock prices moved lower when companies reduced their guidance for the third quarter . Examples after the close on Wednesday included drops by American Express, eBay, Alcoa and United Rental. Traders took profits on news. Look for more profit taking during the height of the earnings report season next week. Equity markets in the U.S. and Canada on average during the past 20 years have reached a seasonal peak on July 18th and have entered into at least a shallow correction to mid-October. A seasonal peak in U.S. and Canadian equity markets around the third week in July is a regular occurrence for most equity markets around the world. Other equity indices that show this phenomenon include the Nikkei Average, the DAX Index, the CAC Index, London FT Index, Shanghai Composite Index and the Emerging Markets Index. A major reason for a correction by equity markets between the third week in July and mid-October has been an increase in volatility triggered by an unexpected event. What about this year? Short term technical indicators show that North American equity markets currently are overbought and vulnerable. One possible unexpected event this year could be a full-blown trade war. Watch the VIX Index closely. A significant move by the Index above its current 12% level will be a technical sign that the correction into October has started. StockTwits Released Yesterday @EquityClock Technical action by S&P 500 stocks to 10:15: Mixed. Intermediate breakouts: Technical action by S&P 500 stocks to 10:15: Mixed. Intermediate breakdowns: Editor’s Note: After 10:15 AM EDT, breakouts included MAS, MTD and AAP. Breakdowns included AA and FITB. Palladium ETN dropped below $85.43 extending an intermediate downtrend. Bombardier .B.CA, a TSX 60 stock moved below $4.92 completing a double top pattern. Tahoe Resources .CA moved below $6.06 setting an intermediate downtrend, TransCanada PipeLines $TRP.CA, a TSX 60 stock moved above $57.79 extending a Reverse Head & Shoulders pattern. Home Depot , a Dow Jones Industrial stock moved above $201.60 extending an intermediate uptrend. Uranium ETF $URA moved below $12.51 extending an intermediate downtrend. Largest holding: $CCJ. Philadelphia Manufacturing Business Outlook Survey shows +11.3 (NSA) in July, well above average level of -7.0. $MACRO #Economy Trader’s Corner Daily Seasonal/Technical Equity Trends for July 19th 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for July 19th 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Sector Trends for July 19th 2018 Green: Increase from previous day Red: Decrease from previous day S&P 500 Momentum Barometer The Barometer slipped 0.80 to 67.40 yesterday. It remains intermediate overbought. TSX Momentum Barometer The Barometer was unchanged yesterday at 63.33. It remains intermediate overbought. Join me at The MoneyShow Toronto, September 14-15, 2018, at the Metro Toronto Convention Centre, where you can meet face-to-face with North America’s leading market experts and get answers to your investing and trading questions. The MoneyShow is committed to providing you with one-stop, personal access to 50+ world-renowned experts in the investment and trading industry. The Show will provide you with non-commercial insights and specific recommendations that will help you create your 2018-2019 investment plan to profit. When you attend The MoneyShow in Toronto you’ll hear top experts’ opinions on global markets and the economy; cannabis and cryptocurrencies, stocks, income, and bonds; ETFs, commodities, options, and trading during the 60+ presentations, interactive workshops, live trading demonstrations, and exciting panel discussions. Don’t miss out! Attend My Free Presentation(s): Donald Vialoux Saturday, September 15, 2018 | 9:15 am – 10:00 am Timing the Market Using Fundamental, Technical, and Seasonality Analysis Looking for the investors’ edge? Traditional investment selection starts with fundamental analysis, followed by technical analysis, followed occasionally by seasonality analysis. Investors looking for higher-than-average returns do the opposite: First, they use seasonality analysis to determine… LEARN MORE ABOUT THE MONEYSHOW TORONTO Full Schedule Your free registration will provide you access to a plethora of quality presentations, workshops, panels, and special events, covering a wide variety of the latest investing and trading topics, trends, and projections. Exhibit Hall Experience the interactive Exhibit Hall, where you can meet representatives from 50+ global financial service companies! Test-drive and experience the latest in tools, products, and services available to investors and traders to reach your portfolio goals. 2018 Speakers These renowned market experts can help you anticipate the market reaction to the rising US interest rates, and the potential effect on the loonie and the Canadian economy. Analyze the current market environment and determine the hot spots for potential investment opportunities, while discerning the possible long-term consequences of geopolitical turmoil around the globe. Hotel Information Attendees of The MoneyShow Toronto can stay at the 4-diamond InterContinental® Toronto Centre Hotel. This contemporary hotel offers the perfect combination of luxury accommodations and convenience, in the heart of the city, just steps from many popular attractions, and only an elevator ride away from the conference. The MoneyShow Toronto, September 14-15, 2018, will be your all-in-one resource for the most comprehensive investment and trading education, providing you with the knowledge you need to trade with confidence and invest for maximum profit! I look forward to seeing you in Toronto! Sincerely, Donald Vialoux 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