Tech Talk for Tuesday September 14th 2021

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Pre-opening Comments for Tuesday September 14th

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

Index futures moved higher following release of the August Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.4% versus a gain of 0.5% in July. Actual was an increase of 0.3%. Excluding food and energy, consensus was an increase of 0.3% versus a gain of 0.3% in July. Actual was an increase of 0.1%.

Oracle dropped $1.69 to $87.20 after reporting less than consensus fiscal first quarter revenues.

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Intuit dropped $2.58 to $560.00 after announcing purchase of Mailchimp for approximately $12 billion.

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Apple added another $0.14 to $149.69 prior to release of news on new iPhone and iPod later today.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/09/13/stock-market-outlook-for-september-14-2021/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

Procter & Gamble $PG a Dow Jones Industrial Average stock moved above $145.98 to an all-time high extending an intermediate uptrend

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Bristol-Myers Squibb $BMY an S&P 100 stock moved below $62.76 extending an intermediate downtrend.

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IDEXX Laboratories $IDXX a NASDAQ 100 stock moved below $657.12 completing a double top pattern.

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Illumina $ILMN a NASDAQ 100 stock moved below $448.68 completing a Head & Shoulders pattern.

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Franco-Nevada $FNV a TSX 60 stock moved below US$140.30 completing a Head & Shoulders pattern.

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Canadian energy stocks are responding to higher crude oil prices. BMO Cdn. Equal Weight Energy ETF $ZEO.CA moved above intermediate resistance at Cdn$41.69

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TSX Energy iShares $XEG.CA moved above intermediate resistance at $8.35

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Imperial Oil $IMO.CA a TSX 60 stock moved intermediate resistance at $35.30

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TC Energy $TRP.CA a TSX 60 stock moved above intermediate resistance at $62.96

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 13th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for September 13th 2021

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Green: Increase from previous day

Red: Decrease from previous day


Sectors

Daily Seasonal/Technical Sector Trends for September 13th 2021

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Green: Increase from previous day

Red: Decrease from previous day

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

Green Power – All aboard?

Greg Schnell, the” Canadian Technician” focuses on copper and copper stocks. Following is the link:

Green Power — All Aboard? | The Canadian Technician | StockCharts.com

 

Seasonality Chart of the Day from www.EquityClock.com

Copper, copper stocks and related ETFs (e.g.COPX and XBM.TO) have a history of reaching an important seasonal low on a real and relative basis at the end of September for an attractive seasonal trade to at least the end of the year and frequently to mid-February.

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S&P 500 Momentum Barometers

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The intermediate term Barometer added 6.41 to 56.71 yesterday. It remains Neutral.

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The long term Barometer added 3.21 to 76.55 yesterday. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer added 6.86 to 61.27 yesterday. It changed from Neutral to Overbought on a return back above 60.00.

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The long term Barometer added 0.49 to 72.06 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




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