Tech Talk for Friday October 11th 2019

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Pre-opening Comments for Friday October 11th

U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points in pre-opening trade. Futures advanced on news that U.S./China trade negotiations are continuing.

Apple is expected to lead the advance in U.S. equity markets at the opening. The stock is scheduled to open above its all-time high at $232.07.

The Canadian Dollar added 0.26 to U.S. 75.54 following release of Canada’s September Employment Report at 8:30 AM EDT. Consensus for September Employment was an increase of 7,500 versus a gain of 81,100 in August. Actual was a gain of 53,700. Consensus for the September Unemployment Rate was unchanged from August at 5.7%. Actual was a drop to 5.5%..

Crude oil gained $0.81 to $54.36 on news that two missiles struck an Iranian oil tanker.

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Fastenal gained $2.91 to $33.93 after reporting higher than consensus third quarter sales and earnings.

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Johnson & Johnson (JNJ $129.06) is expected to open higher after Bernstein upgraded the stock to Outperform from Market Perform

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EquityClock’s Daily Market Comment

Following is a link:

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

Note seasonality charts on U.S. Consumer Prices and Initial Jobless Claims

Next Tech Talk report

Next report will be released on Tuesday October 15th. Monday is an official holiday in Canada and a partial (bank) holiday in the U.S. American equity markets are open.  

 

StockTwits released yesterday @EquityClock

The footwear category of September’s Consumer Price Index report is higher by 4.7%, year-to-date, much stronger than the 1.8% increase that is average through this point in the year. #Tariffs Since @realDonaldTrump likes riddles: Will the consumer, and voters, make a deal out of the above average increase in apparel prices? $STUDY

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Cisco $CSCO, a Dow Jones Industrial stock moved below $45.65 extending an intermediate downtrend

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for October 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for October 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Canadian Technology Sector

The sector has a history of moving higher between now and the end of January.

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Keith Richard’s Blog

Keith says “There’s a decent chance that market participants may turn to international markets and individuals plays over the coming year”. Following is a link:

https://www.valuetrend.ca/opportunities-abroad/

Editor’s Note: ‘Tis the season for Emerging Markets to move higher to yearend!

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S&P 500 Momentum Barometer

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The Barometer added 7.52 to 48.90 yesterday. It remains intermediate neutral.

 

TSX Momentum Barometer

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The Barometer added 3.56 to 49.33 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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10 Responses to “Tech Talk for Friday October 11th 2019”

  1. Ron/BC Says:

    The $SPX continues to trade sideways to up but has not cleared the July high of 3027. And there is a definite loss of momentum showing negative divergences on the price action of all of 2019. Price is king so the July high of 3027 must be cleared to suggest this sideways price action is over. Meanwhile price is still a long ways away from the Weekly 200ema and long term uptrendline which at some point will see both tested again. Lots of indecision in the market.

    https://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=12&mn=0&dy=0&id=p76171849027&a=674087499

  2. Ron/BC Says:

    Just so no one thinks we have it easy with the weather on the West Coast, yesterday and today golfing was delayed until 9:30 this morning due to frost!

  3. still_learning Says:

    Re: #2 NTR

    hi Ron, just so you know, we (Lethbridge Country Club) had our golf season END Sept. 29th this year with a record-setting snow storm. Still haven’t been able to get back out with the cold and more snow early this week. I’ve given up and taken the clubs out of my trunk …sigh.
    Bernie

  4. Ron/BC Says:

    Still_learning

    Funny you should post. I was thinking about you today when I was putting as you said you make golf clubs. Well if you want to get rich I had a great idea (I think) that I believe would be a big seller. And that would be an adjustable putter!!!. No one makes one from what I know. And everyone says how you should be looking straight down at the ball when putting but is difficult to do because the putter handle and head are at an angle. I thought you would need to put a knuckle at the end of the club shaft so you could adjust the head to whatever up and down angle suits you as everyone has a different height and arm length. I think it would be a big seller just like the adjustable drivers that cost over $500. The big companies are always looking for something else to sell golfers. Just need to get a patent on it. Whadaya think of that??????? WE (lol) could be rich!!!

  5. still_learning Says:

    Good Morning Ron/BC,

    I have played mostly with the same putter for about 40 yr. now …don’t like change? As for adjustable, I think IN THE PAST manufacturers would rather sell you another putter with a different length, lie, and feel, than have you be able to adjust these things yourself? Most of us long-time golfers have 3-4 different putters (in the corner of the garage) that we have picked up along the way. Mind you that was when putters were $30-$70, now that they have become as expensive as a driver, maybe (your) idea of one adjustable putter has merit …smile. Send me the NDA (non-disclosure agreement) and we’ll get started …ha, ha, ha.

    BTW, I refuse to pay $500 for a ‘fancier stick’ to putt the ball 3-10 ft. (that’s where most of my putts are made).

    Bernie (the hacker) from Lethbridge

  6. still_learning Says:

    NTR

    Ron, I googled ‘adjustable putters’ and there are all sorts of them on the market.

    for example: https://www.golf.com/gear/2018/10/15/ping-sigma-2-putters-adjustable-shafts/

  7. Ron/BC Says:

    Still_Learning

    Thanks for the link. I see it says adjustable “shaft length”. That’s not what I was referring to. What I’m suggesting is the putter head being able to swivel at the end of the shaft so you can be at a right angle if you wish to the ball rather than all the other angles that make it hard to adapt to. So an adjustable head could be flat on the ground and the shaft could be straight up if you wished or slightly back of straight up. It was cold here in the morning for a few days. Apparently last Thursday and Friday morning a new cold record was created for Vancouver and Victoria and a variety of places on the West Coast making record lows for this time of year.

  8. still_learning Says:

    NTR

    hi Ron, I understood that you meant swivelling the putter head. What I do is adjust the putter grip so that your hands naturally have the club face slightly open or closed at address …whichever best fits your stroke direction through the ball. I do this by putting the new grip on with lots of solvent so that the grip is loose for 5-7 min. I then have you make several putts towards a glass on a flat part of a rug and adjust the grip (in my case forward a bit) so that you make more putts with your natural stroke. I call this ‘dynamic fitting’ of the putter grip. I don’t think everyone should putt with the grip straight-on, as it comes from the factory.

    Cheers, Bernie/Lethbridge

  9. dave/ab Says:

    Hi Still Learning

    #5 NTR

    I LOL with how you said putting from 3-10 feet. I’ve 3 putted from 10 before. I wish I can consistently get to within 10 feet on my approach shots. Even a simple thought of “Dam I have to go to the bathroom” will make one miss a putt 🙁 Golf is such a funny game

  10. Ron/BC Says:

    Still_learning & Dave/AB NTR

    I’m convinced that putting left hand low is the answer for me but at times I wondered what exactly my left hand should be doing. Obviously nothing much if I want the ball to go in the hole. So I just used my left hand to lay against the shaft when putting but it felt like I wasn’t in control of the club. I’ve since found that having the shaft fit into my slightly curled fingers gives a feeling of control. But I’ve also found for more control of the club pointing my index finger straight down along the shaft along with my left thumb for support gives me that control without squeezing the shaft and the ball either goes in the hole or close to it with good distance control as well. While that doesn’t help calculating the pitch of the green it does give one a lot more confidence that the ball is going in or very close to it.

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