Tech Talk for Friday September 20th 2019

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Pre-opening Comments for Friday September 20th

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

The Canadian Dollar slipped 0.12 to U.S. 75.25 cents following release of Canada’s July Retail Sales report. Consensus was an increase of 0.6% versus a revised slip of 0.1% in June. Actual was an increase of 0.4%

Micron added $0.39 to $50.21 after JP Morgan raised its target price to $65 from $50.

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Constellation Brands gained $0.66 to $208.00 after MKM Partners initiated coverage with a Buy rating and a $263 target.

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Molson Coors gained $0.21 to $55.25 after MKM Partners initiated coverage with a Buy rating and a $66 target.

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Texas Instruments gained $0.50 to $129.33 after the company announced a 17% increase on its quarterly dividend.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/09/19/stock-market-outlook-for-september-20-2019/

Note seasonality charts on the Healthcare sector and Existing Home Sales

StockTwits released yesterday @EquityClock

Applied Materials $AMAT, a NASDAQ 100 stock moved above $52.18 extending an intermediate uptrend

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Microsoft $MSFT, a Dow Jones Industrial stock moved above $141.20 to an all-time high extending an intermediate uptrend.

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Solar ETF $TAN moved above $31.80 extending an intermediate uptrend.

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Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 19th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for September 19th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for September 19th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Jon and Don Vialoux at the Toronto MoneyShow

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On Saturday, September 21st, we’ll be presenting at the Toronto Money Show on the topic of "Improving Investment Returns by Combining Seasonal, Fundamental, and Technical Analysis."

 

Panel Workshop Details

Sep. 21, 2:45 PM – 3:30 PM EST

Saturday

 

Improving Investment Returns by Combining Seasonal, Fundamental, and Technical Analysis

The end of September is the opportune time to review your investment portfolio prior to start of the traditional period of seasonal strength for equity markets in October. Which markets, sectors and securities have the best technical and fundamental profiles this year? Join the father-and-son team of Don and Jon Vialoux for an update.

 

Attend for free by navigating to the @MoneyShows website: https://conferences.moneyshow.com/moneyshow-toronto/workshop/991d533c1252427eba49b134bd6d6009/improving-investment-returns-by-combining-seasonal-fundamental-and-technical-analysis/?scode=048217 … $MACRO $STUDYpic.twitter.com/5r5aRNk26H

 

S&P 500 Momentum Barometer

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The Barometer slipped 1.40 to 74.80 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer added 5.17 to 70.59 yesterday. It remains intermediate overbought.

 

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...



21 Responses to “Tech Talk for Friday September 20th 2019”

  1. Larry/ON Says:

    Cdn Banks – Look great. ZEB is coming up to a resistance point around 29.75 but I think we will eventually have an extended uptrend over the next quarter. All the scary stories about the Cdn economy and the housing market are history and I think a most of the shorts have fled.

  2. Ron/BC Says:

    Here is a chart of a formerly well loved and highly recommended stock by all analysts CPG.to. (Crescent Point Energy)
    I’ve deleted dozens of other well loved stocks over time that have crashed and burned but for for some reason I haven’t deleted this one from my chart list at Stockcharts.com. But I see it has formed an interesting W pattern that could easily breakout over 5.87 and run up to $8.00. And of course “IF” this happened a trader would get off near $8 and leave it alone without dreaming it was going back to the moon again. Not a recommendation just a thought as I go through the list………..

    https://stockcharts.com/h-sc/ui?s=CPG.TO&p=D&yr=6&mn=0&dy=0&id=p57888857229&a=673066334

  3. Larry/ON Says:

    MSFT – It went to a new all-time high but it gapped and it is in danger of doing a gap fill first down to 139 before it moves higher. Quite weak today so I think the gap fill is coming. I would buy at 139 as long as the rest of the market is holding up okay. MSFT was big in the news yesterday but when you have no follow through the next day it’s not good after the previous day’s hype.

  4. dutchcanuck Says:

    #3 I think the “hype” was based on the announcement of a $40B share buyback and an 11% raise in the dividend.

  5. Larry/ON Says:

    Hi Dutchcanuck – Yes. The announcement was positive but not hugely significant. The share buyback represents less than 4% of the company and the div is not huge to begin with. To take a large position in MSFT just based on that would not make sense. It has been flat for three months and is looking for a reason to break out and there are all sorts of traders who are waiting for this to happen. It does have a pattern of higher lows so technically it is setting up to go higher but there is now a gap that needs to be filled. It’s a real battle in this stock today. MSFT will eventually move higher because it has a fabulous business.

    Dividend Payers – I think this is the easiest bet in a declining int rate environment.

  6. Ana Says:

    $SPX Futures,

    Still short, adding every high.

    30 minute macd crossed down.

  7. Ron/BC Says:

    Ana NTR

    Just thought I’d mention I overworked a tendon in my left hand (ring finger) and it started locking up all the time and would wake me up in the night. I went to a clinic here and the doctor injected a type of cortisone in that tendon in about 10 different places up along the finger. A week later it still locked up now and again so went back and he did the same thing again and it’s ok now. I also make a point of not carrying things with my fingers curled with all the weight on them now which also helps. Just thought it might help your sore wrist.

  8. Ana Says:

    #. Ron/BC

    Thank you for the suggestion for my wrist. I took another xray that my doctor ordered. My little finger and thumb are still numb and now my elbow is very sore. I will see what my doctor says tomorrow. His office phoned after I took my xray so I am interested in what the radiologist has to say.

    Good job on the sale of your condo! Hope you find another project to work on and turn for a profit!

  9. Ana Says:

    Bernie,

    I remember you used to work in the pipeline industry. One of my son’s has a Geology degree but unfortunately has been shut out of a job in this field because of the oil/gas industry not hiring. Do you have any ideas of whom he could approach for a junior geology job in the pipeline industry? Just trying to brainstorm.

  10. Ron/BC Says:

    Ana

    Good luck with the X-Ray. Those type of issues are often not serious and can be treated successfully. I’m sure yours will be too. I was surprised that my issue was a tendon but shooting it up multiple times with cortisone did the trick. I don’t’ know many that have an actual doctor anymore here. You just go to a clinic and sit around for an hour or two until one of the doctors sees you. I must say though being they don’t know you thoroughly they are more likely to refer you to a specialist than if you had your own doctor that thinks he knows everything.

    As far as my condo experiences go recently I finally bought one that looked good with most everything I wanted & at a good negotiated price and with a good Depreciation Report. One has to read those reports very,very carefully. It has been very frustrating looking at so many with a poor Deprecation Report or something that really turned me off. So it’s a done deal now and I’m looking forward to the move. And I’ll move in my new place the same day I exit this place,so I wont be homeless after all. Once I take possession I’ll decide what to do with the redecorating but don’t recall anything too negative about it. One does need to control the spending on one but at the same time raise its value up & making it look attractive.

  11. Bernie Says:

    Ana,

    Re: #9
    Sorry, I haven’t kept close contact with the industry. Steelmaking and pipe manufacture are in the Metallurgical field. Your son might have better luck finding employment in the mining sector which is more closely tied to his field of study. Perhaps he should focus on the mining rich areas of BC, Saskatchewan, Manitoba, Ontario and Quebec.

    Sorry to hear you’re having issues with your wrist. Have you been icing it?

  12. Ron/BC Says:

    MEDICAL INFO NTR

    Just thought I’d post this info that affects so many people with disappointing treatments.
    My partner has had migraine headaches most of her adult life and tried various medications along the way like most others with the same condition. Recently she had her eyes tested and the doctor found high pressure in one eye.(Glaucoma) So she was given special drops that reduce the eye pressure in one eye with just one drop in that eye before going to bed. Apparently it works for reducing pressure but what surprised her was she no longer gets migraine headaches. It’s been several weeks now with no migraines and only the occasional mild headache like most other people have. The doctors said that’s good to hear but no one seems to think the eye medication and the migraines are related. Just thought I’d mention this so if one gets migraine headaches it might be a good idea to get their eye pressure tested. No one else seems to be connecting the dots. Perhaps a chart of the results might change their mind as it looks like a breakout to me.

  13. Bernie Says:

    Ron/BC,

    Good to see the timing work in your favour so you’re able to do all your moving in one day! I still think you should take some down time afterwards to unwind. Take your lady friend and go on a cruise somewhere warm 🙂

  14. Ron/BC Says:

    Bernie NTR

    Well my lady friend just got back from visiting her older brother in Florida so she’s likely broke after that. I didn’t go as I don’t care for the guy. Come to think about it I wasn’t invited either,lol. How lucky was that. So I don’t know where to go myself as it’s only September so not exactly winter yet and can still golf here in short sleeves & still and have many things to do before the move end of October. Wish I could speed up the move but wont mess with things now that everything is cast in stone finally. I’ll ask my daughter about a cruise as she does work part time at a travel agency as a side job. She arranged a cruise for me about 5 years ago to Alaska by myself which was nice. It wasn’t anything new other than the glaciers as the West Coast of B.C. looks much the same but the trip was calming for sure and got my mind off everything.

  15. Bernie Says:

    Ron/BC,

    NTR
    Its not a trip out of town but it might make for a fun evening for you. Red Green (Steve Smith) is doing his farewell tour across Canada. He makes his stop in your city on Sep 30th. Just to be clear, I’m not suggesting duct tape was your friend when you were a contractor…lol. http://www.redgreen.com/

  16. Paula Says:

    Ron/BC

    NTR
    I read your post about glaucoma and migraines with great interest. My mother suffered from frequent migraines all her life and was diagnosed with glaucoma later in life. Treatment for glaucoma did not help her migraines. My father also developed glaucoma but he never had migraines. I have had migraines once in a while but thankfully, they have not been a regular occurrence. Whether there is a relation ship between the two may depend on the type of glaucoma:

    https://www.brightfocus.org/glaucoma/article/does-glaucoma-cause-headaches

    Since both my parents had glaucoma, I get tested for it every year. As the above article states, there are no symptoms until the late stages. Vision is precious and hard to do without.
    This discussion and other NTR subjects demonstrates one of the things I appreciate about this site: the unselfish sharing of important information on all kinds of topics.
    Thanks!

  17. bruce Says:

    I give up…….what does NTR stand for?…

  18. Ron/BC Says:

    Bruce
    I saw that years ago on a another financial website that asked posters to use NTR when a post was Not Trading Related
    So I started using it and explained its meaning here.

  19. bruce morris Says:

    aha……..that makes sense……even my granddaughters didnt know it…..one for us oldtimers…..tnx….

  20. Ron/BC Says:

    Bernie NTR
    Thanks for the heads up on Red Green on Sept 20th. I’ll check out where and how much. Not sure if my partner is into him or not.

    Paula
    Well my partner is starting to wake up in the morning with a headache again so takes her Imitrix before it gets bad so perhaps the drops just caused a temporary pause. But it was convincing and seemed to immediately stop the migraines. And it may still be working but she takes the headache medication quickly before it can turn into a migraine. So it might be working well for migraines but not for a mild headache. She goes for more eye tests soon so perhaps will learn more. But the pressure in the one eye was very high before taking the drops.

  21. Ana Says:

    # 11. Bernie,

    Thank you Bernie, for your message. I am just trying to brain storm as this is a difficult situation.

    Where did you take your training for the Metallurgical Field? So, no wonder you do so well with your stocks, you are brilliant!

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