Tech Talk for Wednesday January 10th 2018

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Pre-opening Comments for Wednesday January 10th

U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade.

Signet Jewellers dropped $4.62 to $51.97 after lowering its fourth quarter sales guidance.

Lennar fell $1.12 to $65.55 after reporting less than consensus fourth quarter earnings.

Nutrien gained $0.12 to US$52.80 after Stifel Nicolaus initiated coverage with a Buy rating.

Deere improved $1.20 to $166.80 after RBC Capital upgraded the stock to Outperform from Sector Perform.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/01/09/stock-market-outlook-for-january-10-2018/

Note seasonality charts on U.S. Bank industry, 10 Year Treasury Notes, Utility sector, U.S. REIT Index and Job Openings.

Observations

Higher crude oil prices have prompted higher gasoline prices.

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‘Tis the season for gasoline prices to move higher!

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U.S. Interest Rates: OOOPs!

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StockTwits Released Yesterday @EquityClock

Johnson & Johnson $JNJ, a Dow Jones Industrial stock moved above $143.80 to an all-time high extending an intermediate uptrend.

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Tech action by S&P 500 to 10:00: Bullish. Breakouts: $AMP $BK $L $PRU $SCHW $STI $A $BDX $BSX $JNJ $APH $GPN $AYI

Editor’s Note: After 10:00 AM EST, breakouts included BWA, AIG, PNC, STT, NOC, UAL, XLNX, AGN, MTD, HBI, L, GILD, HON, PYPL, ANSS, USB, HOG, MNST, CERN, ADBE. Breakdown: HCP, EXR

Money center banks SPDRs $KBE moved above $48.73 to a 10 year high extending an intermediate uptrend.

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Searching for signs of investor euphoria.

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More oil services stock breakouts: $CFW.CA $SCL.CA.

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Enerplus $ERF.CA moved above $12.93 extending an intermediate uptrend.

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Finning International $FTT.CA moved above $32.53 to an all-time high extending an intermediate uptrend.

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Cineplex $CGX.CA moved below $35.02 extending an intermediate downtrend.

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Another Canadian “gassy” stock “bites the dust”! $AAV.CA

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for January 9th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for January 9th 2018

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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 January 9th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Gold and Silver Outlook for 2018

The Fundamental Technician just released a comment on Kitco. Following is a link:

http://www.kitco.com/news/2018-01-08/Gold-and-Silver-2018-Outlook-The-Fundamental-Technician.html

 

S&P 500 Momentum Barometer

The S&P 500 Momentum Barometer added 0.20 to 83.00 yesterday. It remains intermediate overbought.

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TSX Momentum Barometer

TSX Momentum Barometer added 1.01 to 57.26 yesterday. It remains intermediate overbought and rolling over.

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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

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21 Responses to “Tech Talk for Wednesday January 10th 2018”

  1. Rol Lew Says:

    https://ca.finance.yahoo.com/news/intuitive-surgical-announces-preliminary-fourth-140500573.html

    http://stockcharts.com/h-sc/ui?s=ISRG&p=D&yr=1&mn=0&dy=0&id=p05143617776

    Thanks Dutch

  2. roy Says:

    Hello Rol Lew
    Been waiting for quite some time for this one to pull back. Does not seem to be happening. Is there no competition in that space?

  3. FishFat Says:

    There is a handy tool on the TMX Money website for earnings announcements. On the main TMX Money website click on the “Market Activity” tab. A pulldown menu appears where you will see “Earnings Calendar”. Click on that and you can view a list of the companies posting earnings on a week by week basis. You can limit the display to show “All Exchanges” or select an individual exchange like TSX, TSX Venture, NYSE, NASDAQ or OTC. The list gives information such as whether the earnings will be announced “before open” or “after close” and consensus estimates.

  4. Ron/BC Says:

    Utility stocks and ETFs continue to get trashed. They are oversold with some looking like a buy lately but the trend is still bearish.

    http://stockcharts.com/h-sc/ui?s=FTS.TO&p=D&yr=2&mn=0&dy=0&id=p97155312558&a=505251651

    http://stockcharts.com/h-sc/ui?s=BCE.TO&p=D&yr=1&mn=0&dy=0&id=p11054773040&a=566578347

    On the flip side BMO.to is the last major CD Bank finally breaking out over a double top to new highs. Increasing interest rates around the world is having its effect negatively on Utility stocks and positively on Financial stocks.

    http://stockcharts.com/h-sc/ui?s=BMO.TO&p=D&yr=6&mn=0&dy=0&id=p62774449110&a=448403406

  5. Rol Lew Says:

    Roy,
    There are many competitors to ISRG, and some have even beaten its 80% return last year, but it appears that they are more volatile also, e.g., MZOR with 4 or 5 pullbacks in its 140% ramp last year.

    http://stockcharts.com/freecharts/candleglance.html?ISRG,ICUI,MDT,MZOR,BSX,BDX,BAX,ABT,ALGN,ABMD,PODD,TFX|D|

    Look at the one-year timeframe.

  6. Rol Lew Says:

    and some of the usual suspects…
    http://stockcharts.com/freecharts/candleglance.html?FB,AABA,CBOE,V,MA,PYPL,AXP,JPM,HVI.TO,|D|

    who can say if today it will all end? 3 hrs & 40 minutes to go……. 🙂

  7. Sandra Says:

    Really tanked today..CJR.B/TO

    http://stockcharts.com/h-sc/ui?s=CJR%2FB.TO&p=D&yr=1&mn=0&dy=0&id=p15124312303

  8. Ana Says:

    $SPX $ES

    There is a Head and Shoulders that can be seen on the futures chart. My best guess at the moment is 2713.

  9. Sandra Says:

    TECK.B/TO surging but will be brutal on pullback and signal end of mining.

  10. dutchcanuck Says:

    #1 #2
    ISRG has no meaningful competition at the moment. They are also developing surgical equipment for pulmonary procedures. My next target if MrMarket keeps trucking along is $500, which is about a 25% upside. No divs, but lots of growth.

  11. Larry/ON Says:

    Ominous Signs For Canada – The Trudeau Government’s WTO challenge to the US was far reaching and included complaints on US trade practices with third party countries including China. It was a provocative move at the very point when the Trump Administration is ready to give its’ six month notice of NAFTA departure. This move by Canada increases the odds that Trump leaves NAFTA which would be in line with his tit for tat psychology. Risk is for a considerable fall in $CAD and likely to many Canadian equities when this happens which is predicted before the end of January. CAD is already tanking today.

  12. Sandra Says:

    Larry/ON:
    Thanks for the info.

  13. Sandra Says:

    Larry/ON:

    Two big stories today China loosing interest on US treasuries and US may cancel NAFTA.

  14. Ana Says:

    I think that this is the issue:

    http://www.news1130.com/2018/01/10/canada-global-trade-complaint-vs-us/

  15. Ana Says:

    Also:

    http://www.huffingtonpost.ca/2018/01/10/canada-hits-u-s-with-complaint-at-wto-over-use-of-punitive-duties_a_23329809/

  16. Sandra Says:

    Lot of dividend paying stocks are at support. Wandering if there will be switch to safe heaven again if there is a sell off with all the news going on today.

    Any thoughts?

  17. Sandra Says:

    Ana:
    # 15
    China is the lucky dog. Benefits from every global move.

  18. Larry/ON Says:

    CP Rail down 3.92% on NYSE – Part of negative trade environment. Any Cdn business doing a lot of trade in US is on the equity hit list.

  19. Muntazir Says:

    Sandra,
    Thanks for posting last week re TDW giving 10 free trades. I called & after 90mins on hold got my credit. Thanks again

  20. Rol Lew Says:

    #10 – ISRG – Thanks Dutch for the “warning”- I will try to hang on this time. I jumped ship in Dec, with a nice gain – but that was the wrong move. (Hindsight!)

  21. dutchcanuck Says:

    #5
    Those companies you mentioned are not competitors yet altho they are in the medical field.
    A few of these cos are trying to get into the robotics space, but have not as yet succeeded to get into ISRG’s specialties with any degree of success. The Da Vinci robot is unique and patent protected. The most serious threat will come from Medtronic/JNJ as they have the funds necessary to develop, design and mamufacture a competitive product, but ISRG has quite a moat at this time.I am quite close to this company having done work for them in the past, and their management team is sterling. Just my opinion.

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