Tech Talk for Wednesday October 6th 2021

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Pre-opening Comments for Wednesday October 6th

U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.

Index futures recovered slightly following release of the September ADP employment report at 8:15 AM EDT. Consensus was an increase of 430,000 versus an increase of 374,000 in August. Actual was an increase of 568,000.

Constellation Brands dropped $5.94 to $207.12 after reporting lower than consensus adjusted second quarter earnings.

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Peloton dropped $0.84 to $81.72 after Stifel Nicolaus lowered its target price from $140 to $120.

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FedEx fell $2.90 to $221.37 after Cowan reduced its target price from $297 to $283.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/10/05/stock-market-outlook-for-october-6-2021/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

Energy SPDRs $XLE moved above $55.40 extending an intermediate uptrend.

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Russia ETF $RSX moved above $30.68 extending an intermediate uptrend. Responding to higher crude oil prices.

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US Bancorp $USB an S&P 100 stock moved above $61.54 extending an intermediate uptrend.

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Imperial Oil $IMO.CA a TSX 60 stock moved above $42.02 extending an intermediate uptrend.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.5 2021

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for Oct.5 2021

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Oct.5 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

The Canadian Technician

Greg Schnell focuses on the fertilizer stocks

Power In Potash? | The Canadian Technician | StockCharts.com

S&P 500 Momentum Barometers

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The intermediate term Barometer added 4.81 to 33.67 yesterday. It remains Oversold and showing early signs of moving higher.

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The long term Barometers added 0.60 to 68.54 yesterday. It remains Overbought.

TSX Momentum Barometers

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The intermediate term Barometer added 3.55 to 36.11 yesterday. It remains Oversold and showing early signs of moving higher.

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The long term Barometer added 1.12 to 60.19 yesterday. It changed from Neutral to Overbought on a recovery 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




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