Tech Talk for Wednesday May 15th 2019

Daily Reports Add comments

Pre-opening Comments for Wednesday May 15th 2019

U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade.

Index futures moved lower following release of economic news at 8:30 AM EDT. Consensus for April Retail Sales was an increase of 0.2% versus a gain of 1.7% in March. Actual was a decline of 0.2%. Excluding auto sales, consensus for April Retail Sales was an increase of 0.7% versus a gain of 1.2% in March. Actual was an increase of 0.1% Consensus for the May Empire State Manufacturing Survey was a drop to 8.2 from 10.1 in April. Actual was an increase to 17.8.

The Canadian Dollar slipped 0.06 to 74.14 cents U.S. following release of Canada’s April Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.4% versus a gain of 0.7% in March. Actual was an increase of 0.4%. On a year-over-year basis consensus for the April Consumer Price Index was an increase of 2.0% from 1.9% in March. Actual was 2.0%.

Tilray (TLRY $48.74) is expected to open higher after reporting higher than consensus first quarter sales. Bank of Montreal upgraded the stock to Market Perform from Underperform.

image

Agilent (A $76.01) is expected to open lower after reporting lower than consensus fiscal second quarter sales and earnings.

image

Lowe’s (LOW $105.75) is expected to open higher after Oppenheimer raised its target price to $135 from $125.

image

Home Depot (HD $191.62) is expected to open higher after Oppenheimer raised its target price to $215 from $200.

image

 

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/05/14/stock-market-outlook-for-may-15-2019/

 

China/U.S. Trade Resolution Hopes?

clip_image001

 

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:30: Quiet. Intermediate breakouts: $AMT $SRE. No breakdowns

clip_image002

Norbord $OSB.CA moved below $31.43 extending an intermediate downtrend.

clip_image003

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 14th 2019

clip_image005

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 14th 2019

clip_image007

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for May 14th 2019

clip_image009

Green: Increase from previous day

Red: Decrease from previous day

Keith Richard’s Blog

Keith asks, “Trade negotiations also a trading opportunity for the stock market”? See

https://www.valuetrend.ca/china-trade-negotiations-also-a-trading-opportunity-for-the-stock-market/

 

S&P 500 Momentum Barometer

clip_image010

The Barometer gained 7.20 to 43.80 yesterday. It returned to intermediate neutral from intermediate oversold on a move back above 40, but continues to trend down.

 

TSX Momentum Barometer

clip_image011

The Barometer added 1.28 to 44.54 yesterday. It remains intermediate neutral and trending down.

 

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

Sponsored By...



11 Responses to “Tech Talk for Wednesday May 15th 2019”

  1. dave/ab Says:

    Interesting perspective from a few people on the China versus usa trade war from yesterdays blog. I just want to add my two cents in. An interesting show this weekend Frontline ” trump trade war” from PBS. Very good objective reporting. The show comments on China is all about manufacturing and these are all China incubated companies. They will not move out of China. usa is being hurt by the chinese canceling their orders on soybean and wheat . usa high tech companies to do business in China requires them to share all their technology. american manufacturing companies often require rare & raw materials and this is often imported from China. China has jacked the prices up on these materials. Importers pay the tariff not china. A chinese economist states they have 4x the population and will be the biggest economic power this they know will irritate the americans since they never want to lose this status. After watching Frontline I can confidently say the americans are in a bad position for the foreseeable future with both China and India having the bigger population base and building there economic power. JMHO

  2. Kam Says:

    Wes,

    Here we go again. As posted yesterday about buy it at a B wave drop towards 2820, bought all4 micro back again at market open 2819. First Target is 2859 for now. Stop loss moved to 2830. Rinse n repeat. One micro sell order at 2850, just a risk management thing.

  3. Kam Says:

    Dave/AB,

    China yes, India No, to turn into economic power like US etc.Grass usually looks green on other side.

    India is a YUGE corrupt country. What ever power they are is based on hard working and smart people who help economy. However Every $1 available for public use, people are lucky if they get 15 cents. Other 85 cents are stolen by politicians and bureaucrats along the way. India might have the most Billionaire in the world if we count black market $$ too. There is no way around it and I can’t see any changes in our life times.
    There are elections happening now and result is on May23. Nothing will change even if the Govt changes. Just another Thug will control the power if lucky, who is waiting for 5 yrs to make $$ by kick backs and stealing whatever tax is paid by normal folks.

  4. Rol Lew Says:

    picking up pennies on the train tracks, while the amzn amtrack express is out of sight……..

    amzn dipped to 1827 on the 13th, and has recovered to 1867 today. + $40 + 2.2% in 2 days

    amzn may 17th bull put spread went from 50 cents on the 10th, to 2.00 on the 13th,

    but as amzn has rallied the last 2 days, this spread moved from 2.00 to 20 cents.

    what is the % gain, if you bought something for 20 cents, and sold it for 2.00?

    what is the % gain, if you bought it for 20 cents today, but had sold it for 50 cents on the 10th?

    what is the % gain, if you get crushed by the train?

  5. Rol Lew Says:

    may 17th 1775/1765 bull call spread

  6. Rol Lew Says:

    I wonder if this is really true, or just more fake news

    ” as long as the USD$ is the global currency, america will have a trade deficit”

    @ 46:32 .. https://www.youtube.com/watch?v=XepCi0I_g6I

  7. Kam Says:

    Rol/lew,

    #5,

    That call spread is deep in the money. Did you mean 1865/1875 bull spread? or 1775/1765 bull put spread yesterday?

    Have you tried ES spreads, very tight bids/asks?

  8. Kam Says:

    MES update,

    Got rid off 2nd Micro at 2859. Automatic sell. Still holding 2 contracts. Don’t know why? I might unload those soon. I think (b) of 2 is coming with a target of 2835-2814 maybe overnight loop and then the 61.8% with a=c target of 2896 to finish off wave . Request Mr Market to wait and then market can crater.

    I will be a buyer if it falls towards 2835 and below towards 2814. One more try until it bites.

  9. rick Says:

    Kam , you wrote : For India :

    Every $1 available for public use, people are lucky if they get 15 cents. Other 85 cents are stolen by politicians and bureaucrats along the way.

    How about Canada ?
    Should we say :
    Every $1 available for public use, people are lucky if they get 70 cents. Other 30 cents are stolen by politicians and bureaucrats along the way.

    Theoretically it should be 0 cents not 30 cents , right ? but ….
    And those money are our money , taxpayers money .
    Money that are wasted by corrupt politicians .
    Or , just plain stupid politicians .

  10. Rol Lew Says:

    KAM, yes, sorry, way out of the money put credit spread, good day today. Let’s see if it goes out at zero tomorrow. $23 left.
    RE micro s&p, batting a lousy 1/3 this week, I think a 5 point stop is too much, I’ll try just 2 points next week & do more trades. It really whips around, but there’s no way I will use MORE than 5 points ($25).

  11. Kam Says:

    Sold 2 micros at 2852.50 soon as I posted earlier.Another beginner luck day of 34 points per contract. Greed is telling me I should have bought 1ES future and made $1600 instead of 680 but Mind is telling me to get the F off. I think I might run out of luck soon. Will try tomorrow again With new plan posted above.

    Rick,
    I don’t know if we only get 70 cents here but I know india should have some billionaire politicians and maybe thousands over 100Mil illegal $$ stashed in Swiss banks. I don’t see any multi millionaire politicians here who made it off us, at least the one we can point out. We have rickshaw drivers there who driver Range Rover, bmw after 5-7 yrs and other enormous businesses. Company like SNC have to pay 10-25% to them to get contracts.

    Rol lew,

    Ya, ES contracts r $50 each in options but sometimes I used to play otm ones to make $$ as they expire every second day too. But I assume 10 points in Amzn also need lots of Margin with its price. What ever works for you. I myself will close tomorrow if possible and use margin somewhere else, I won’t wait till Friday and try next weeks expiry again at different price to gain from time value.
    Later

Entries RSS Comments RSS Log in