Tech Talk for Friday September 25th 2020

Daily Reports Add comments

Pre-opening Comments for Friday September 25th

U.S. equity index futures were lower this morning. S&P 500 futures were down 14 points in pre-opening trade.

Index futures were virtually unchanged following release of the August Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 1.5% versus an upwardly revised gain of 11.7% in July. Actual was an increase of 0.4% . Excluding transportation orders, consensus was an increase of 1.2% versus an upwardly revised gain of 3.2% in July. Actual was an increase of 0.4%.

Novavax gained $7.51 to $109.95 after the company announced start of Phase 3 trials for its COVID 19 vaccine in the United Kingdom.

clip_image001[1]

Bristol-Myers advanced $1.85 to $60.10 after the company announced positive results from its Phase 3 trials on its bladder cancer drug.

clip_image002[1]

Alcoa (AA $11.70) is expected to open higher after B. Riley raised its target price from $11.00 to $14.00.

clip_image003[1]

 

EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2020/09/24/stock-market-outlook-for-september-25-2020/

Note seasonality chart on Natural Gas futures

Technical Notes for Thursday September 24th

S&P Bank SPDRs (KBE) moved below $27.93 setting an intermediate downtrend.

clip_image001

S&P Regional Banks SPDRs (KRE) moved below $33.67 setting an intermediate downtrend.

clip_image002

China Large Cap iShares (FXI) moved below $41.09 completing a double top pattern.

clip_image003

Cameco (CCJ), a TSX 60 stock moved below US$10.05 and Cdn$13.49 setting an intermediate downtrend.

clip_image004

Canadian Natural Resources (CNQ), a TSX 60 stock moved below $21.62 completing a double top pattern.

clip_image005

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for September 24th 2020

clip_image007

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Seasonal/Technical Commodities Trends for September 24th 2020

clip_image009

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for September 24th 2020

clip_image011

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

clip_image001[5]

The Barometer added 0.60 to 26.25 yesterday. It remains intermediate oversold and continues to trend down.

 

TSX Momentum Barometer

Not available at time of posting.

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

MoneyShowNovember62020




3 Responses to “Tech Talk for Friday September 25th 2020”

  1. Ron/BC Says:

    An interesting study on pandemics.

    https://youtu.be/8UvFhIFzaac

  2. still_learning Says:

    re:#1

    Thanks Ron, very interesting indeed. My concern is that his data and opinions are all based on mortalities only. Doesn’t this approach ignore the pain and suffering, and long-term health affects of non-mortal cases?
    I certainly don’t have all the answers, I don’t think anyone does (yet?), including this guy (with the soothing voice) in the video.

  3. Ron/BC Says:

    #2
    Hi Still. True enough as there is a lot more to the virus “in some people” than just a brief illness. I still don’t know of anyone that has had the virus yet. I did like the guy’s study as pandemics are very typical and all tend to end up vanishing. I know SARS was bad in Asia but just disappeared once it ran its course. Much like the flue. I recall Bonnie Henry who is the medical spokesperson for this virus in B.C. said in the beginning that most people that contracted the virus would have very mild symptoms. I know I’m not going out of my way to avoid it. When I was in California in January I got a fever with aches and pains & a bad cough and a local doctor there just said I had bronchitis. But he had to diagnose something didn’t he,lol. Perhaps I had the virus as it wasn’t that well known yet then. And I’m not impressed with more and more regulations preventing businesses from going belly up. I see more businesses closing even with lines of customers waiting outside their doors. The government seems to think they can stay in business operating at 25% to 50% and they can’t. Or if they could it’s not worth the trouble so they close their doors. Good way to create a depression. We have to consider what we want the least of I think. I’d rather have a strong economy than the alternative.

Entries RSS Comments RSS Log in