Tech Talk for Wednesday October 9th 2019

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Pre-opening Comments for Wednesday October 9th

U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade. Investors were encouraged by news that China has committed to purchase $10 billion in agricultural products if a U.S./China trade agreement is reached.

Johnson & Johnson dropped $2.85 to $128.99 following a jury decision that awarded $8 billion against the company.

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Verizons added $0.25 to $59.35 after SunTrust raised its target price to $68 from $61.

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Apple added $2.50 to $226.90 after Canaccord Genuity raised its target price on the stock to $260 from $240.

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Domino’s Pizza slipped $0.59 to $252.89 after Argus Research lowered its rating on the stock to Hold from Buy.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/10/08/stock-market-outlook-for-october-9-2019/

StockTwits released yesterday @EquityClock

First Trust Natural Gas ETF $FCG moved below $10.54 extending an intermediate downtrend

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Rogers Communications $RCI, a TSX 60 stock moved below $48.19 U.S. and $64.11 Cdn. extending an intermediate downtrend

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Occidental Petroleum $OXY, an S&P 100 stock moved below $41.10 extending an intermediate downtrend

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for October 8th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for October 8th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for October 8th 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 plunged 16.83 to 33.07 yesterday. It changed to intermediate oversold on a move below 40.00

 

TSX Momentum Barometer

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The Barometer slipped 4.87 to 44.25 yesterday. It remains intermediate neutral.

 

 

2019 CSTA Annual Conference

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CSTA Calgary Edition of the CSTA Annual Conference

JOIN US LIVE – REGISTER NOW!

Live event will be hosted at the Aloft Calgary University

          • Address: 2359 Banff Trail NW, Calgary, Alberta

          • Phone:(403) 289-1973

Agenda:

7:30 – 8:00 AM 

Morning Coffee

8:00 – 9:00 AM  

Speaker – Greg Schnell, CMT, MFTA StockCharts, @Schnellinvestor

Topic: Macro Analysis with a focus on Commodities

9:00 – 9:30 AM   

Networking / coffee break

9:30 – 10:30 AM 

Speaker – Tom Bowley, StockCharts, EarningsBeats.com

Topic: Momentum Investing

10:30 – 10:45 AM

Coffee / set up new speaker

10:45 – 11:45 AM  

Speaker – Dwight Galusha, CMT, @SetYourStop

Topic: The Power of Scans, including a live demo

11:45 – 12:45 PM 

    

Lunch break

12:45 – 1:45 PM      

Speaker – Barry Powley, CFA, CMT, Calgary CSTA Chapter Head

Topic: Market Cycle Analysis and Sector Rotation

1:45 – 2:00 PM    

Coffee / set up new speaker

2:00 – 3:00 PM  

  

Keynote Speaker – Jeff Hirsch, Chief Market Strategist, Stock Traders Almanac

Topic: Investment Strategy – Tactical Asset Allocation

3:10 – 4:10 PM  

 

Panel discussion        

4:30 PM  

 

For more information please contact:

Mark Soehner

mark@calgarycupola.com

Cell 403-630-0968

Res 403-259-5571

CSTA 2019 Calgary Conference Chair

Live location member price $75.00, non-member price $100.00.
Fee includes lunch

Webinar access price $35.00 for members, $40.00 for non-members.  Click here for webinar details and registration

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Reagan Yuke, Business Manager
Canadian Society of Technical Analysts
519-807-9178
bm@csta.org

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 Wednesday October 9th 2019”

  1. Bernie Says:

    Paula,

    Re: my #12 from last night

    I know you’re not a buy and hold investor…and I’m not trying to convert you lol. Just wanted to show you a couple of performance numbers a DGI would look at before scratching the surface further when screening for a “blue chip” dividend growth stock.

    What I consider most important is a long history of dividend growth. Ideally the annual dividend growth streak is quite long and there have been no cuts in quite some time. I can take the odd freeze when its a stalwart like TD because I know they haven’t had a cut in over 150 years of paying dividends. TD froze their dividend at the same level for 11 quarters from 2009-11. My overall portfolio income still rose in those years because most of my stocks continued with their dividend raises. Any way following are the average annual dividend raises for BCE, TD & T for the 2002 to 2019 time frame (that’s more than 2 complete business cycles):
    BCE: 5.54% have never cut but did suspend for 2 quarters in 2008*
    TD: 9.82% have never cut dividend
    T: 9.13% cut dividend 57% in 2002, resumed raises in 2004
    *BCE suspended for 2 quarters to ready themselves for a takeover which fell through

    I also like to know how the stocks performed total return (price+dividends) over the long term. Here are the average annual TRs for BCE, TD & T for the 2002 to 2018 time frame and 2019 YTD:
    BCE: 8.52% (24.10% YTD)
    TD: 12.64% (10.98% YTD)
    T: 14.75% (8.11%)

  2. Paula Says:

    Bernie,
    Thanks for all those stats. Certainly something to think about. I guess I also have a bias towards companies that I do business with. Like TD and BCE. I figure that I am supporting their earnings and when receiving dividends, I am getting back some of what they make from my business.

  3. Paula Says:

    Bernie,
    It’s a good sign when a company’s stock goes up on the x-dividend day, as TD went up today. I believe that most tend to go down by the amount of the dividend. This is reflected on Stockcharts by all their numbers and indicators getting adjusted. Some people consider this a mistake on their part. I don’t have a strong opinion about it. I know about putting an underscore before the symbol to get the unadjusted price.

    BCE also went up today and made another new all time high (adjusted for dividends) but they did not go x-dividend today. Thanks again for all the trouble you went to gathering the info and posting #1.

  4. Bernie Says:

    Paula,

    You’re welcome. TD’s adjusted price did go up $0.44 today (from $72.42 to $72.86) but its close stock price ended the day lower by $0.30 (from $73.16 to $72.86). Yeah, I know its puzzling. I couldn’t tell you the details on how they come up with the pricing. What I have learned over the years is the stock price is lowered by the dividend amount at the opening on the ex-div date. To get the dividend you must own it prior to the opening. You can even sell on the ex-div date and still receive the dividend when its paid. In the past I often purchased on the ex-div date to take advantage of the lower price even though it meant giving up that first dividend. Longer term it was often well worth the move. Once I have my full positions, which I tend to hold a long time, I don’t worry much about price directions. Then its (almost) all about the income and its growth.

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