Tech Talk for Tuesday August 27th 2019

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Pre-opening Comments for Tuesday August 27th

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

Johnson & Johnson added $1.75 to $129.55 after a court decision on use of opioids produced by the company resulted in a lower than expected penalty.

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JM Smucker (SJM $112.93) is expected to open lower after reporting lower than consensus first quarter sales and earnings.

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Bank of Nova Scotia (BNS $67.77) is expected to open higher after reporting greater than consensus fiscal third quarter earnings. The Bank also raised its quarterly dividend by 3.5%.

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Chipotle gained $1.97 to $828.77 after SunTrust raised its target price to $900 from $815.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/08/26/stock-market-outlook-for-august-27-2019/

Note seasonality chart on Durable Goods Orders.

 

StockTwits released yesterday @EquityClock

Silver Miners ETF $SIL moved above $29.95 extending an intermediate uptrend.

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Pembina Pipeline $PPL.CA, a TSX 60 stock moved below $47.03 setting an intermediate downtrend.

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Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for August 26th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for August 26th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for August 26th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Link to David Chapman’s Weekly Comment compliments of www.enrichedinvesting.com

http://enrichedinvesting.com/wp-content/uploads/2019/08/Tweet-tumble-retaliation-tumble-fourth-fall-best-gold-spread-narrows-financials-deteriorate.pdf

 

Josef Schachter on BNNBloomberg’s Market Call Yesterday

Market comment

https://www.bnnbloomberg.ca/video/josef-schachter-s-market-outlook~1764595

Past picks

https://www.bnnbloomberg.ca/video/josef-schachter-s-past-picks~1764650

Top picks

https://www.bnnbloomberg.ca/video/josef-schachter-s-top-picks~1764651

 

Keith Richard’s Blog

Keith notes that “Neartermed volatility up on “TTT” (Trumps Trade Tweets)”. Following is a link:

https://www.valuetrend.ca/neartermed-volatility-up-on-ttt-trumps-trade-tweets/

 

S&P 500 Momentum Barometer

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The Barometer added 5.40 to 35.40 yesterday. It remains intermediate oversold.

 

TSX Momentum Barometer

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The Barometer added 0.43 to 38.89 yesterday. It remains intermediate oversold.

 

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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4 Responses to “Tech Talk for Tuesday August 27th 2019”

  1. Larry/ON Says:

    2900 Ceiling on SP500 – There was a lot of selling into strength this morning. No one wants to be caught long going into September.

  2. Bernie Says:

    Ana,

    NTR
    Re: #13 from Aug 25th
    We were actually in AB from Thurs thru Mon to help my Mom with an Estate/Garage sale. She’s moving into an assisted living apt in Sherwood Park by mid Sep.

    Move back to Alberta? Not a chance! Sure we miss family & friends but we prefer 4 seasons rather than 2 (long winter and short tough sledding period). When I was younger I didn’t mind the cold, wind, violent storms and mosquitos but these days…not so much. It definitely costs more to live in BC but we’re adjusting to it. A special thank you to Alberta for assisting me with lower taxes so I could build a decent nest egg to live on in retirement.

  3. Larry/ON Says:

    Getting Worse – This is looking like the start of the drop to test 2800 and 2728. Amazing how the drop accelerated at noon when the lunch hour traders look at the market.

  4. Ana Says:

    #2. Bernie,

    So where was my cup of coffee, if you were in Edmonton? 😀

    Glad your mother is moving into an assisted living apartment. It is good for the elderly to have people around them to keep them company if family does not live close by.

    I hear you about the seasons. I spend some time in Saskatchewan, mostly in the spring/summer/fall and that weather is a great deal hotter than it is in Edmonton. So rainy in Edmonton this year! There is already a chill in the air.

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