Tech Talk for Thursday January 23rd 2020

Daily Reports Add comments

Pre-opening Comments for Thursday January 23rd

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Index futures responded to concerns about spread of a corona virus in China. The Shanghai Composite Index plunged 84.23 to 2,976.53.

Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EST. Consensus was an increase to 212,000 from 204,000 last week. Actual was 211,000.

Procter & Gamble dropped $2.27 to 125.56 after reporting lower than consensus quarterly revenues.

clip_image001[1]

Citrix Systems (CTXS $119.23) is expected to open higher after reporting higher than consensus fourth quarter earnings.

clip_image002

Comcast (CMCSA $47.44) is expected to open higher after reporting higher than consensus fourth quarter earnings.

clip_image003[1]

Southwest Airlines (LUV $53.48) is expected to open lower after reporting lower than consensus fourth quarter revenues and earnings.

clip_image004[1]

 

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/01/22/stock-market-outlook-for-january-23-2020/

Note seasonality charts on the Technology sector and Existing Home Sales.

 

StockTwits released yesterday @EquityClock

Capital One $COF, an S&P 100 stock moved above $105.70 to an all-time high extending an intermediate uptrend. Strength followed higher than consensus fourth quarter earnings.

clip_image001

‘Tis the season to own Capital One $COF between now and May!

clip_image003

Cerner $CERN, a NASDAQ 100 stock moved above $76.08 to an all-time high extending an intermediate uptrend.

clip_image004

CCL Industries $CCL.B.CA, a TSX 60 stock moved above $58.32 extending an intermediate uptrend.

clip_image005

Rogers Communications $RCI $RCI.B.CA, a TSX 60 stock moved above U.S. $50.85 extending an intermediate uptrend.

clip_image006

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 22nd 2020

clip_image008

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for January 22nd 2020

clip_image010

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for January 22nd 2020

clip_image012

Green: Increase from previous day

Red: Decrease from previous day

 

Keith Richards’ Blog

Keith asks, “Must everyone get stoned”? Following is a link:

https://www.valuetrend.ca/must-everyone-get-stoned/

 

Greg Schnell’s “Market Buzz”

Distributed yesterday. Greg focuses on the Consumer Discretionary sector. Following is a link:

https://www.youtube.com/watch?v=xd-LV9YaV-Y&feature=youtu.be

 

S&P 500 Momentum Barometer

clip_image013

The Barometer dropped another 2.40 to 76.35 yesterday. It remains intermediate overbought and showing early signs of rolling over.

 

TSX Momentum Barometer

clip_image014

The Barometer slipped another 0.10 to 77.06 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...



5 Responses to “Tech Talk for Thursday January 23rd 2020”

  1. Bruce Says:

    The ai survey this shows the bullish % up another 3.8 to 45.6 ……the bears dropped 2.7 to 24.8% ……hmmm…….that is the aaii survey….

  2. KC Says:

    Hello Ron/BC,

    Hows that Ford Fusion treating you ? Did you sell the SUV ? Perhaps you should look at a CRV, pro-lots of trunks space and a decently reliable for a decent price, con-lacks power under the hood. If you have the extra cash from that Condo sale, Acura is the way to go 😉

    Wondering if you would be kind enough to spare a few minutes and throw up a more recent chart and your TA on CAE.TO Through its double top and might be retreating you think ? Its still far off from its 200ema though. Seasonally seems like a good buy in Feb ? do you see $36 as a decent entry point or do you see it going back to $32 ?

  3. Larry/ON Says:

    AC.TO – Trading at a bit of a discount now if you have wanted to own it. Considered undervalued.

  4. Bernie Says:

    KC,

    Re: #2 CAE

    Ron/BC is on a 2 week holiday in California. I don’t expect he’ll be monitoring the forum. Did you see Peter Hodson on BNN’s MarketCall today. A link to the video of his Top Picks: Kinaxis, Lightspeed and CAE follows:
    https://www.bnnbloomberg.ca/peter-hodson-s-top-picks-jan-23-2020-1.1378761

  5. KC Says:

    Hi Bernie,

    Thank you for flagging me on Ron/BC status and for posting a response to CAE.TO

    KC

Entries RSS Comments RSS Log in