Tech Talk for Thursday October 12th 2017

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Pre-opening Comments for Thursday October 12th

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.

Index futures were unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 252,000 versus a revised 258,000 last week. Actual was 243,000. Consensus for September Producer Prices was a gain of 0.4% versus an increase of 0.2% in August. Actual was a gain of 0.4%. Excluding food and energy, consensus for September Producer Prices was a gain of 0.2% versus an increase of 0.1% in August. Actual was a gain of 0.2%

Canadian Pacific (CP US$167.40) is expected to open higher after JP Morgan upgraded the stock to Overweight from Neutral and raised its target price to $262 from $216.

Stifel Nicolaus raised its target price on Netflix (NFLX $194.89) to $230 from $200.

JP Morgan slipped $0.29 to $96.55 despite reporting slightly higher than consensus third quarter earnings.

Citigroup gained $0.21 to $75.15 after reporting higher than consensus third quarter earnings.

PayPal added $0.30 to $68.08 after Wedbush raised its target price to $78 from $66.

Visa gained $0.32 to $68.08 after Wedbush raised its target price to $116 from $110.

General Motors dipped $0.73 to $44.74 after temporarily closing a car factory in Detroit due to weak demand.

EquityClock’s Daily Market Comment

Following is a link:
http://www.equityclock.com/2017/10/11/stock-market-outlook-for-october-12-2017/

Note seasonality charts on the Retail Industry, Retail Trade, Total Vehicle Sales and Job Openings.

Observation

Near the close yesterday, another Dow Jones Industrial stock broke to an all-time high. Johnson & Johnson moved above $136.21 extending an intermediate uptrend.

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StockTwits Released Yesterday @EquityClock

McDonalds $MCD, a Dow Jones Industrial stock moved above $161.72 to all-time high extending an intermediate uptrend.

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Technical action by S&P 500 stocks to 10:00: Bullish. Breakouts: $MCD $BF.B $CL $MO. Breakdown: $JNPR.

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Editor’s Note: After 10:00 AM EDT, breakouts included ETN and GOOG. Breakdowns included FFIV, DISCA and CSRA.

First Service Corp. $FSV.CA moved above $87.82 to all-time high extending an intermediate uptrend.

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Air Canada $AC.CA moved above $27.68 to all-time high extending an intermediate uptrend.

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Alphabet $GOOG moved above $988.25 to all-time high extending an intermediate uptrend.

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South Korea iShares moved above $71.78 to all-time high extending an intermediate uptrend.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for October 11th 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for October 11th 2017

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Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for October 11th 2017

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Green: Increase from previous day

Red: Decrease from previous day

S&P Momentum Barometer

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The Barometer added 1.20 to 74.80 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer added 1.32 to 81.48 yesterday. It remains intermediate overbought.

 

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

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8 Responses to “Tech Talk for Thursday October 12th 2017”

  1. bruce Says:

    sherri

    tnx again for the Armstrong update……….

  2. Mick/NV Says:

    So much for me thinking atd/b.to would gap down to it’s offering price of $57.17, instead it gapped up, sometimes it is hard to figure out what the market is doing and why. Congrats to anyone that got in on the offering price, nice gain.

    http://stockcharts.com/h-sc/ui?s=ATD%2FB.TO&p=D&b=5&g=0&id=p69625320453&a=529931874

  3. roy Says:

    Hi Mick/NV – missed that one too. Hopefully with the present selloff it pulls back a bit.

  4. Mick/NV Says:

    Even with the threat of rising interest rates, FTS.to has recovered nicely off it’s sept lows and this morning has moved above the R1 pivot point resistance and close to it’s Aug highs. If this level can hold, may take a run at the r2 pivot point resistance in the next week or so, which would be an all time high, but that is a big if. Own a lot of this one , has been a great investment but will not be adding even on a pullback. I still think a good entry point for those looking for a long term hold would be around the $43 area but don’t see that happening anytime soon, would not be buying at this level.

    http://stockcharts.com/h-sc/ui?s=FTS.TO&p=D&b=5&g=0&id=p26252532428&a=443111650

  5. Polish1 Says:

    Infinity Pharmaceuticals To Present New Data For IPI-549 At Cancer Conference; Shares Surge
    http://stockcharts.com/h-sc/ui?s=INFI&p=D&yr=0&mn=6&dy=0&id=p58998114412&a=547404089&listNum=59

  6. Sandra Says:

    Go long or short ….

    http://schrts.co/ajGmYP

    Gained after the biopharmaceuticals company last night said its tenapanor drug candidate showed statistical significance compared with a placebo in patients with study of for irritable bowel syndrome with constipation during a second Phase III trial.

  7. Polish1 Says:

    Long Term “Investing”
    A real dating ad from Florida:

    LONG-TERM COMMITMENT – Recent widow who has just buried fourth husband, Looking for someone to round out a six-unit plot. Dizziness, fainting, shortness of breath, not a problem.

  8. Kam Says:

    Sandra,

    I will never go short on the biotechs or biopharm company on a thing like this. What do I know if this is next big thing and cure for something! Even EW doesn’t work on these no names until they turn big or have any revenue or sales After the drug is approved and selling.
    Now I leave it on you. 🙂

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