Tech Talk for Wednesday September 8th 2021

Daily Reports Add comments

Pre-opening Comments for Wednesday September 8th

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

The Canadian Dollar was virtually unchanged at US78.97 cents prior to the Bank of Canada’s update on Canada’s monetary policy at 10:00 AM EDT. Consensus expects no change in Canada’s overnight lending rate to major Canadian Banks.

PayPal added $4.13 to $297.39 after announcing purchase of a Japanese payment company for $2.7 billion.

clip_image001[1]

Netflix advanced $16.18 to $622.89 after JP Morgan raised its target price from $625 to $705.

clip_image002[1]

Tesla added $19.35 to $772.27 after announcing a strong than expected increase in August sales in China

clip_image003

Sherwin Williams dropped $4.59 to $298.25 after the company lowered its forecast for third quarter sales.

clip_image004[1]

 

EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/09/07/stock-market-outlook-for-september-8-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

Ross Stores $ROST a NASDAQ 100 stock moved below $114.11 completing a Head & Shoulders pattern

clip_image001

MMM $MMM a Dow Jones Industrial Average stock moved below $190.08 completing a double top pattern.

clip_image002

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 7th 2021

clip_image004

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for September 7th 2021

clip_image006

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 7th 2021

clip_image008

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

S&P 500 Momentum Barometers

clip_image009

The intermediate term Barometer dropped 6.51 to 59.72 yesterday. It changed from Overbought to Neutral on a move below 60.00 and is trending down.

clip_image010

The long term Barometer dropped 2.00 to 78.76 yesterday. It changed from Extremely Overbought to Overbought by moving below 80.00 and is trending down.

 

TSX Momentum Barometers

clip_image011

The intermediate term Barometer dropped 3.14 to 61.88 yesterday. It remains Overbought.

clip_image012

The long term Barometer slipped 1.60 to 74.26 yesterday. It remains 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




2 Responses to “Tech Talk for Wednesday September 8th 2021”

  1. Paula Says:

    Here is another take on seasonals by Tom McClellan. I don’t think you need a subscription to access it:

    https://stockcharts.com/articles/tac/2021/09/seasonal-turns-arriving-early-909.html

  2. Ron/BC Says:

    Hey,Hey Paula

    Thanks for the link. Cycles are hard to track and confirm but they do exist in most everything………

Entries RSS Comments RSS Log in