Tech Talk for Wednesday September 16th 2020

Daily Reports Add comments

Pre-opening Comments for Wednesday September 16th

U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Investors are waiting for news on interest rates to be released by the Federal Reserve at 2:00 PM EDT. Consensus is that the Fed Fund rate will remain unchanged at 0.00%-0.25%.

Index futures moved slightly lower following release of U.S. August Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.8% versus a revised gain of 0.9% in July. Actual was an increase of 0.6%. Excluding auto sales, consensus was an increase of 0.9% versus a revised gain of 1.3% in July. Actual was an increase of 0.7%.

The Canadian Dollar was virtually unchanged at US75.96 cents following release of Canada’s August Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.1% versus no change in July. Actual was a decline of 0.1%.

Adobe jumped $11.33 to $509.00 after reporting higher than consensus fiscal third quarter revenues and earnings.

clip_image001[1]

FedEx advanced $21.83 to $257.70 after reporting higher than consensus fiscal first quarter revenues and earnings.

clip_image002[1]

Microsoft added $1.72 to $210.50 after announcing a 10% increase in its dividend.

clip_image003[1]

 

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/09/15/stock-market-outlook-for-september-16-2020/

Note seasonality chart on U.S. Industrial Production

Technical Notes for Tuesday September 15th

Cognizant (CTSH), a NASDAQ 100 stock moved above $69.26 extending an intermediate uptrend.

clip_image001

Hong Kong iShares (EWH) moved above $22.94 extending an intermediate uptrend.

clip_image002

Bank of New York Mellon (BK), an S&P 100 stock moved below $35.21 setting an intermediate downtrend.

clip_image003

Citigroup (C), an S&P 100 stock moved below $47.72 setting an intermediate downtrend.

clip_image004

Algonquin Power (AQN), a TSX 60 stock moved above $18.78 setting an intermediate uptrend.

clip_image005

Palladium moved above US$2,419.10 per ounce extending an intermediate uptrend.

clip_image006

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 15th 2020

clip_image008

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Seasonal/Technical Commodities Trends for September 15th 2020

clip_image010

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 15th 2020

clip_image012

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

clip_image013

The Barometer added 0.80 to 62.93 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

clip_image014

The Barometer added 3.33 to 61.43 yesterday. It changed back from intermediate neutral to intermediate overbought on a return above 60.00.

 

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...



Comments are closed.

Entries RSS Comments RSS Log in