Tech Talk for Wednesday October 13th 2021

Daily Reports Add comments

Pre-opening Comments for Wednesday October 13th

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.

Index futures were virtually unchanged following release of the September Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.3% in August. Actual was an increase of 0.4%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.1% in August. Actual was an increase of 0.2%.

JP Morgan added $0.91 to $166.27 after reporting higher than consensus third quarter earnings.

clip_image001[1]

Blackrock gained $11.04 to $847.23 after reporting higher than consensus third quarter revenues and earnings.

clip_image002[1]

Apple slipped $0.75 to 140.77 after announcing that a chip shortage may impede iPhone production.

clip_image003[1]

 

EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/10/12/stock-market-outlook-for-october-13-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

Base metals stocks continue to advance. HudBay Minerals $HBM.CA moved above $8.39 completing a double bottom pattern.

clip_image001

BMO Equal Weighted Base Metals ETF $ZMT.CA moved above Cdn$53.32 setting an intermediate uptrend.

clip_image002

Access to seasonality charts is available for subscribers of www.EquityClock.com

Lumber stocks finally are responding to completion of a reverse Head & Shoulders pattern by spot lumber futures on Friday. West Fraser Timber $WFG moved above Cdn$110.21 to an all-time high extending an intermediate uptrend.

clip_image003

Access to seasonality charts is available to www.EquityClock.com subscribers

Soybean ETN $SOYB moved below $21.27 completing a double top pattern.

clip_image004

Coffee ETN $JJOFF moved above $17.80 extending an intermediate uptrend.

clip_image005

Comcast $CMCSA an S&P 100 stock moved below $53.21 and $52.00 extending an intermediate downtrend.

clip_image006

Micron $MU a NASDAQ 100 stock moved below $68.71 extending an intermediate downtrend

clip_image007

TC Energy $TRP.CA a TSX 60 stock moved above $63.64 extending an intermediate uptrend.

clip_image008

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.12th 2021

clip_image010

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for Oct.12th 021

clip_image012

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Oct.12th 2021

clip_image014

Green: Increase from previous day

Red: Decrease from previous day

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

(except TSX)

S&P 500 Momentum Barometers

clip_image015

The intermediate term Barometer slipped 0.80 to 37.47 yesterday. It remains Oversold.

clip_image016

The long term Barometer eased 0.80 to 65.53. It remains Overbought.

TSX Momentum Barometers

clip_image017

The intermediate term Barometer added 0.93 to 42.99 yesterday. It remains Neutral

clip_image018

The long term Barometer was unchanged yesterday at 61.68. 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




4 Responses to “Tech Talk for Wednesday October 13th 2021”

  1. Larry/ON Says:

    IWM – Small cap ETF has consolidated since mid-March. The 200day MA has caught up with price and a coil formation has developed that soon needs to resolve up or down.

  2. Larry/ON Says:

    MRNA – Seems to have bottomed. Steve Weiss on CNBC was quite positive on it at this level. Forward earnings are quite tremendous.

  3. dutchcanuck Says:

    MRNA Own it since $127 and have added to it on pullbacks. Most volatile stock I have ever owned.
    One week it dropped almost $100- not for the faint of heart, but it could have earnings from $20-$30 this year. Great management incl 2 Nobel prize winners. Their totally computerized process is both new and unique in the industry. Their Covid vaccine was developed in 9 months.
    Quite a few others in the pipeline. Not typically a stock I would buy, but looked like apotentially profitable speculation.

  4. xh Says:

    #3
    Talk about volatility, check the uranium stocks.

    I bought small position of cco.to on Oct. 2020, then added a bit more recently when it pushed past the $25 resistance Ron/BC pointed out. CCO seasonality starts on Oct.

    It’s not my type of investment, but it seems to be a reasonable speculation.

    https://www.afr.com/companies/mining/uranium-gets-a-boost-from-japan-s-nuclear-sea-change-20211009-p58ykh

    (Last week, Industry Minister Koichi Hagiuda said nuclear power was “indispensable, when we think about how we can ensure a stable and affordable electricity supply while addressing climate change”.

    He had a simple pledge. The government probably will not build anything new, but “we will work to restart Japan’s nuclear reactors”. )

Entries RSS Comments RSS Log in