Technical Notes for August 6th Bristol-Myers (BMY), an S&P 100 stock moved above $60.68 resuming an intermediate uptrend. The stock responded to a favourable ruling on a patent for its blood thinner drug. UnitedHealth Group (UNH), a Dow Jones Industrial Average stock moved above $314.69 to an all-time high extending an intermediate uptrend. Western Digital (WDC), a NASDAQ 100 stock moved below $40.47 and $37.65 setting an intermediate downtrend. The company reported lower than consensus second quarter earnings and lower than consensus guidance. Bausch Health (BHC), a TSX 60 stock moved above $27.66 extending an intermediate uptrend. The company announced plans to spin off its eye care division. McDonald’s (MCD), a Dow Jones Industrial Average stock moved above $202.73 extending an intermediate uptrend. Russell 2000 iShares (IWM) moved above $152.87 extending an intermediate uptrend. Saputo (SAP), a TSX 60 stock moved above $34.92 resuming an intermediate uptrend. U.S. Lumber prices soared above $564.30 to a two year high extending an intermediate uptrend. Partially response to U.S. Dollar weakness. Strength by U.S. equity indices yesterday can be attributed mainly to a surge in two heavy weight stocks to all-time highs: Facebook and Apple Alcoa is likely to open lower this morning after President Trump after the close proposed a 10% tariff on aluminum imports from Canada . Stocks of aluminum can users (Beer and Soft Drinks), who are expected to absorb the additional cost, could slip lower in early trade. Trader’s Corner Equity Indices and related ETFs Daily Seasonal/Technical Equity Trends for August 6th 2020 Green: Increase from previous day Red: Decrease from previous day Commodities Seasonal/Technical Commodities Trends for August 6th 2020 Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for August 6th 2020 Green: Increase from previous day Red: Decrease from previous day Greg Schnell’s Comments on the Agriculture Sector Headline reads, “Agriculture Names Start to Swing”. Following is a link: https://stockcharts.com/articles/canada/2020/08/agriculture-names-start-to-swi-515.html S&P 500 Momentum Barometer The Barometer slipped 1.80 to 68.14 yesterday. It remains intermediate overbought. TSX Momentum Barometer The Barometer added 1.64 to 79.52 yesterday. It remains intermediate overbought. 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