Tech Talk for Tuesday January 14th 2020

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Pre-opening Comments for Tuesday January 14th

U. S equity index futures were lower this morning. S&P 500 futures were down 2 points in pre-opening trade.

Index futures were virtually unchanged following release of the December Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.3% versus a gain of 0.3% in November. Actual was an increase of 0.2%. Excluding food and energy, consensus for the December Consumer Price Index was an increase of 0.2% versus a gain of 0.2% in November. Actual was an increase of 0.1%.

JP Morgan gained $2.00 to $139.20 after reporting higher than consensus fourth quarter revenues and earnings.

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Delta Airlines gained $2.61 to $62.10 after reporting higher than consensus fourth quarter revenues and earnings.

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Citigroup added $0.10 to $80.75 after reporting higher than consensus fourth quarter earnings.

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Wells Fargo dropped $1.92 to $50.19 after reporting lower than consensus fourth quarter revenues and earnings.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/01/13/stock-market-outlook-for-january-14-2020/

 

StockTwits released yesterday @EquityClock

American Express $AXP, a Dpw Jones Industrial stock moved above $128.40 to an all-time high extending an intermediate uptrend.

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NetApp $NTAP, a NASDAQ 100 stock moved above $63.99 extending an intermediate uptrend.

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China Large Cap iShares $FXI moved above $44.66 extending a long term uptrend.

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NextEra Energy $NEE, an S&P 100 stock moved above $245.01 to an all-time high extending an intermediate uptrend.

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Southern Companies $SO, an S&P 100 stock moved above $64.25 to an all-time high extending an intermediate uptrend.

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Fortis $FTS.CA, a TSX 60 stock moved above $54.98 extending an intermediate uptrend.

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Shaw Communications $SJR $SJR.B.CA, a TSX 60 stock moved below U.S.$20.03 and $26.23 Cdn. extending an intermediate downtrend. Reported slightly lower than consensus quarterly results this morning.

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Citrix Systems $CTXS, a NASDAQ 100 stock moved above $114.82 to an all-time high extending an intermediate uptrend.

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Utilities SPDRs $XLU moved above $64.94 to an all-time high extending an intermediate uptrend.

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Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 13th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for January 13th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 13th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Technical Scoop

Thank you to David Chapman and www.enrichedinvesting.com for the following link:

http://enrichedinvesting.com/wp-content/uploads/2020/01/Barometer-highs-Early-Warning-war-effect-recovery-time-impeachment-threat-looming-election.pdf

 

S&P 500 Momentum Barometer

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The Barometer added 1.80 to 76.15 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer slipped 1.38 to 66.82 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

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6 Responses to “Tech Talk for Tuesday January 14th 2020”

  1. Ron/BC Says:

    Here is a long term Weekly chart of IAU which is a $Gold ETF that tracks the price of $GOLD closely. One can see the major price resistance it has been dealing with lately. Price would need to clear and hold above $15 to expect further gains. The above ratio charts shows the weakness of $Gold shares relative to $Gold as well as the weakness of $Silver to $Gold. Historically the shares outperform $Gold in bull markets and $Silver outperforms $Gold. This does not bode well for the precious metals until this trend in ratios reverses sharply. And with today’s schizophrenic world that can happen quickly. Always a good market to pay attention to with lots of good trades along the way regardless.

    https://stockcharts.com/h-sc/ui?s=IAU&p=W&yr=15&mn=0&dy=0&id=p73933621907&a=673066555

  2. Larry/ON Says:

    TECK.B – Roy it’s starting to move and volume has been high the last two days.

  3. Paula Says:

    RE: TECK.B
    A safer/more diversified way to be in this sector, is XBM.TO. Unless you have very deep pockets and can afford the big up and down swings in this stock. TECK has 2 near death experiences going back to the financial crisis:

    https://stockcharts.com/h-sc/ui?s=TECK%2FB.TO&p=M&b=5&g=0&id=p07412582533

    TECK is currently 8.25% of XBM:

    https://ca.finance.yahoo.com/quote/XBM.TO/holdings/

  4. Larry/ON Says:

    Re 3. Looked at XBM – Multiyear chart a little ugly but it has been climbing since the August low and just had a positive 50 day 200 dayMA cross-over. World GDP growth is projected to accelerate in 2020 and 2021 which is supportive of the overall bull market and base metals. This area is not my cup of tea and I am just making a small punt with it.
    TECK.B – Triple bottom with progressively higher lows but will hit resistance at 23.

  5. Rol Lew Says:

    XBM.TO – Base Metals

    https://stockcharts.com/freecharts/candleglance.html?XBM.TO,FCX,RIO,BHP,BBL,FM.TO,TECK,LUN.TO,VEDL,SCCO,AA,VALE|D|0

    For some reason TECK is lagging its peers. Most others here have done well since October. Impossible to follow every stock that is having a good move. Plus, back in Oct who knew base metals would rally for 3 months+ ?

  6. Larry/ON Says:

    Hands Down The Most Interesting Chart I Can Remember Seeing

    https://www.cnbc.com/2020/01/14/interest-rates-bond-data-back-to-black-death-shows-low-rates-here-to-stay.html

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