Tech Talk for Tuesday January 19th 2021

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Morning Technical Notes for Tuesday January 19th

Costco (COST), an S&P 100 stock moved below $359.50 setting an intermediate downtrend.

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South Africa iShares (EZA) moved above $45.40 extending an intermediate uptrend.

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Pre-opening Comments for Tuesday January 19th

U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade.

Goldman Sachs gained $5.98 to $306.99 after reporting higher than consensus fourth quarter revenues and earnings.

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Bank of America slipped $0.66 to $32.35 after reporting lower than consensus fourth quarter revenues.

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Aphria added $0.60 to $16.42 after Stifel Nicolaus raised its target price from $9.80 to $15.50.

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American Express gained $1.59 to $123.74 after JP Morgan upgraded the stock from Underweight to Overweight.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/01/16/stock-market-outlook-for-january-19-2021/

Note seasonality chart on U.S. Retail Trade

Technical Notes for Monday January 18th

Brookfield Infrastructure (BIP/UN), a TSX 60 stock moved above $68.38 extending an intermediate uptrend.

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Chinese based ETFs listed on the TSX responded to the better than expected 6.5% annualized GDP gain by China in the fourth quarter. XCH moved above Cdn$30.21 to an all-time high extending an intermediate uptrend.

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Trader’s Corner

Editor’s Note: No change in ratings for the TSX and TSX sectors yesterday

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 18th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for January 18th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for January 18th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Berman’s Call Yesterday

During his education segment, Larry offered interesting observations on central bank liquidity and likely action by the Federal Reserve to curtail liquidity at its next meeting on January 26th and 27th. Signs of a reduction in liquidity could have a short term negative impact on U.S. equity markets. Following is a link:

https://www.bnnbloomberg.ca/larry-berman-liquidity-driven-market-about-to-have-less-liquidity-1.1550226

 

TSX Momentum Barometers

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The intermediate Barometer added 0.96 to 68.90 yesterday. It remains intermediate overbought.

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The long term Barometer added 0.96 to 79.90 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




3 Responses to “Tech Talk for Tuesday January 19th 2021”

  1. Larry/ON Says:

    GM – Gap higher coming this morning on further EV news. Partnership with MSFT to make driverless delivery vehicles. Honda will also be involved.

  2. tony Says:

    Hi Tina,

    I can’t answer for Ron, In my case I use the 4hr time frame I tend to use for my buy and sell its available free of charge on yahoo.ca/finance website.

    Ocassionaly I will use smaller timeframe when I feel the stock is running to hot

    I did this with a mining company just last week. I bought because it was positive on the 4hr timeframe in november. Last week it fell at the open on monday so I switched to an hourly chart I was a bit nervous so I switched to an hourly chart

  3. tony Says:

    Sorry submitted my message by mistake.

    I sold by lunch time as it turned negative on the macd indicator. Know I’m looking at it on again on a 4hr time frame and the stock is still negative on this time frame maybe it turns positve but rather keep my powder dry.

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