Tech Talk for Friday October 15th 2021

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Pre-opening Comments for Friday October 15th

U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for September Retail Sales was a slip of 0.2% versus a gain of 0.7% in August. Actual was a gain of 0.7%. Excluding auto sales, consensus for September Retail Sales was an increase of 0.4% versus a gain of 0.6% in August. Actual was a gain of 0.8%. Consensus for the October Empire State Manufacturing Survey was a slip to 27.00 from 34.30 in September. Actual was a drop to 19.8.

Alcoa gained $2.95 to $51.55 after the company reported higher than consensus third quarter revenues and earnings. The company also announce a $500 million share buyback program.

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Barrick Gold slipped $0.24 to US$19.33 after National Bank downgraded the stock from Outperform to Sector Perform.

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Citigroup added $0.53 to $71.33 after Oppenheimer raised its target price from $112 to $118.

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Bank of America advanced $0.40 to $45.47 after Oppenheimer raised its target price from $48 to $51.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/10/14/stock-market-outlook-for-october-15-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

India ETF $PIN moved above $29.26 to an all-time high extending an intermediate uptrend.

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Israel iShares $EIS moved above $74.22 to an all-time high extending an intermediate uptrend.

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Spot copper futures $COPPER moved above $4.47 per lb. setting an intermediate uptrend.

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Copper Miners ETF $COPX moved above $38.80 resuming an intermediate uptrend.

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

Metal prices are on the move. equityclock.com/2021/10/13/… $GDX $GDXJ $NUGT $JNUG $DUST $JDST

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First Quantum Minerals $FM.CA a TSX 60 stock moved above $27.22 and $27.28 setting an intermediate uptrend.

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

TSX 60 iShares $XIU.CA moved above $31.52 to an all-time high extending an intermediate uptrend.

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Consumer Discretionary SPDRs $XLY moved above $186.39 to an all-time high extending an intermediate uptrend.

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

UnitedHealth Group $UNH a Dow Jones Industrial Average stock moved above $429.85 to an all-time high after releasing better than consensus quarterly results.

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

Lowe’s Companies $LOW an S&P 100 stock moved above $214.33 to an all-time high extending an intermediate uptrend.

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

Verisk Analytics $VRSX a NASDAQ 100 stock moved above $209.66 to an all-time high extending an intermediate uptrend.

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Paccar $PCAR a NASDAQ 100 stock moved above $85.33 completing a double bottom pattern.

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

Rogers Communications $RCI a TSX 60 stock moved above US$47.49 completing a double bottom pattern.

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

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.14th 2021

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for Oct.14th 2021

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Oct.14th 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 (except TSX)

Seasonality Chart of the Day from www.EquityClock.com

Seasonal influences on a real basis for the TSX Composite Index, TSX 60 Index and related ETFs (e.g. XIU) turned positive this week for a seasonal trade lasting until at least the end of the year and frequently to the end of February.

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XIU broke to an all-time high yesterday. See previous price chart.

S&P 500 Momentum Barometers

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The intermediate term Barometer advanced 11.62 to 50.10 yesterday. It changed from Oversold to Neutral on a recovery above 40.00 and is trending higher.

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The long term Barometer added 7.21 to 73.15 yesterday. It remains Overbought.

TSX Momentum Barometers

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The intermediate Barometer jumped 7.76 to 59.62 yesterday. It remains Neutral and trending up.

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The long term Barometer added 1.24 to 66.20 yesterday. It remains Overbought and trending up.

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 Friday October 15th 2021”

  1. Larry/ON Says:

    ZEB new all-time high! Come to Papa!

  2. Larry/ON Says:

    ZEB – It is a little overextended short-term. We need at least the four day MA to catch up. We need a couple of days of sideways trading.

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