Tech Talk for Wednesday September 11th 2019

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Pre-opening Comments for Wednesday September 11th

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

Index futures were virtually unchanged following released of the August Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 0.2% in July. Actual was an increase of 0.1%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.1% in July. Actual was an increase of 0.3%.

The Hong Kong Exchange has offered to purchase the London Exchange in a cash and share deal valued at $36.6 billion.

Philip Morris added $1.20 to $74.50 after the company increased its dividend.

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Costco dropped $2.40 to $294.60 after Oppenheimer downgraded the stock to Perform from Outperform

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Micron added $0.91 to $50.30 after Longbow upgraded the stock to Buy from Neutral.

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ADP gained $0.11 to $164.44 after Bank of America/Merrill upgraded the stock to Buy from Neutral.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/09/10/stock-market-outlook-for-september-11-2019/

Note seasonality charts on the Baltic Dry Index and U.S. Job Openings.

 

StockTwits released yesterday @EquityClock

McDonalds $MCD, a Dow Jones Industrial stock moved below $213.89 completing a double top pattern.

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Starbucks $SBUX, a Dow Jones Industrial stock moved below $92.68 completing a double top pattern

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PayPal $PYPL, a NASDAQ 100 stock moved below $102.21 completing a Head & Shoulders pattern.

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VeriSign $VRSN, a NASDAQ 100 stock moved below $198.54 setting an intermediate downtrend.

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U.S. Gold Equity ETF $GDX moved below $27.61 completing a double top pattern.

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Commerce Bank $CM.CA, a TSX 60 stock moved above intermediate resistance at $104.89

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Waste Connections $WCN.CA, a TSX 60 stock moved below $117.01 extending an intermediate downtrend

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Dollarama $DOL.CA, a TSX 60 stock moved below intermediate support at $47.77.

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Restaurant Brands International $QSR.CA, a TSX 60 stock moved below $95.95 completing a double top pattern.

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Husky Energy $HSE.CA, a TSX 60 stock moved above $9.40 completing a base building pattern.

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Walgreen Boots $WBA, a Dow Jones Industrial stock moved above $56.43 completing a double bottom pattern.

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Home Builders SPDRs $XHB moved above $42.90 extending an intermediate uptrend.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for September 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

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The Barometer added 2.00 to 65.00 yesterday. It remains intermediate overbought, but continues to trend up.

 

TSX Momentum Barometer

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The Barometer added 2.15 to 58.19 yesterday. It remains intermediate neutral.

 

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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2 Responses to “Tech Talk for Wednesday September 11th 2019”

  1. dave/ab Says:

    Hi Ana

    NTR
    From Mondays post

    Sorry to hear of your injury. Sounds like yo may need a CT Scan. It will help see if there is new bone growth or some healing process happening. If not they may need to procedure. Good luck

  2. KC Says:

    Hello Ron/BC,

    Any thoughts on the VET.TO breaking above this $21.70 resistance? Do you think its having a hard time and in for a retreat and then perhaps will have another attempt to break through later this month ?

    Thanks,
    KC

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