Tech Talk for Thursday October 14th 2021

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Pre-opening Comments for Thursday October 14th

U.S. equity index futures were higher this morning. S&P 500 futures were up 33 points at 7:40 AM EDT

Equity index futures moved higher in overnight trade prior to release of the September Producer Price Index at 8:30 AM EDT. Consensus calls for an increase of 0.6% versus a gain of 0.7% in August. Excluding food and energy, consensus calls for an increase of 0.4% versus a gain of 0.6% in August.

Frequency of third quarter earnings reports ramps up today. Focus is on financial companies including Bank of America, Wells Fargo, Morgan Stanley, Citigroup and US Bancorp. Other major companies scheduled to release results include Taiwan Semiconductors, UnitedHealth Group, Rio Tinto, Walgreens Boots and Alcoa.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/10/13/stock-market-outlook-for-october-14-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

Frontier iShares $FM moved above $34.80 to an all-time high extending an intermediate uptrend.

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Access to seasonality charts is available by subscription at www.EquityClock.com

Uranium ETF $URA moved above $28.72 to an all-time high extending an intermediate uptrend. Responding to strength in Cameco $CCJ and spot uranium prices.

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Canadian forest product stocks continue to move higher. Canfor $CFP.CA moved above $29.11, $29.28 and $29.37 resuming an intermediate uptrend. Forest product ETFs including $WOOD and $CUT also are moving higher.

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Access to seasonality charts is available by subscription at www.EquityClock.com

Splunk $SPLK a NASDAQ 100 stock moved above $160.00 extending an intermediate uptrend.

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Loblaw Companies $L.CA a TSX 60 stock moved above $91.62 to an all-time high extending an intermediate uptrend

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Access to seasonality charts is available by subscription at www.EquityClock.com

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.13th 2021

spx oct 14

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for Oct.13th 021

crb oct 14

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Oct.13th 2021

xlk oct 14

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)

Chart of the Day from www.EquityClock.com

Technical score increased yesterday from -2 to +4 when strength relative to the S&P 500 changed from Negative to Positive and units moved above their 20 day moving average.

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S&P 500 Momentum Barometers

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The intermediate term Barometer added 1.00 to 38.48 yesterday. It remains Oversold.

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The long term Barometer added 0.40 to 65.93 yesterday. It remains Overbought.

TSX Momentum Barometers

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The intermediate term Barometer advanced 8.88 to 51.87 yesterday. It remains Neutral and trending higher.

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The long term Barometer added 3.27 to 64.95 yesterday. It remains Overbought and trending higher.

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 Thursday October 14th 2021”

  1. Larry/ON Says:

    IMO we are now looking through the rearview mirror at the Sep-Oct bottom from this point.
    US Banks – Fabulous earnings this morning with good loan growth.
    $CAD has really broken out here. I guess we are looking at a target of $0.83.

  2. bruce Says:

    the AAII sentiment index this week has the bulls at 37.9% up from 25.5 last week……the historical average is 38%…the bearish sentiment has dropped back to 31.8% from 36.8 last week…..historical average is 30.5%

  3. Dave/AB Says:

    S&P 500 PE is about 34.5.

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