Tech Talk for Wednesday January 25th 2023

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Pre-opening Comments for Wednesday January 25th

U.S. equity index futures were lower this morning. S&P 500 futures were down 35 points in pre-opening trade.

The Bank of Canada is scheduled to announce its interest rate for major Canadian banks at 10:00 AM EST. Consensus calls for an increase in the rate from 4.25% to 4.50%. A press conference is offered at 11:00 AM EST.

Microsoft dropped $2.44 to $239.60 after the company offered a cautious outlook for its fiscal third quarter.

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Texas Instruments added $0.98 to $178.02 after reporting higher than consensus fourth quarter earnings.

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Intuitive Surgical plunged $20.98 to $237.00 after reporting less than consensus fourth quarter earnings.

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Capital One dropped $1.96 to $104.55 after reporting less than consensus fourth quarter earnings.

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EquityClock’s Daily Comment

Head line reads “From extremely bearish to neutral, sentiment has neutralized rapidly over the past few weeks and you are starting to see analysts let down their bearish guard”.

http://www.equityclock.com/2023/01/24/stock-market-outlook-for-january-25-2023/

 

Technical Notes

Nvidia $NVDA a NASDAQ 100 stock moved above $187.90 extending an intermediate uptrend.

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PACCAR $PCAR a NASDAQ 100 stock moved above $104.26 to an all-time high extending an intermediate uptrend.

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Amgen $AMGN an S&P 100 stock moved below $254.86 extending an intermediate downtrend.

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Duke Energy $DUK an S&P 100 stock moved below intermediate support at $99.18.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 24th 2023

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 24th 2023

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for January 24th 2023

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Green: Increase from previous day

Red: Decrease from previous day

 

Link from valued providers

S&P 500 Threatening Major Breakout | Tom Bowley | Trading Places

(Includes an interesting comment on seasonality)

https://www.youtube.com/watch?v=QCjznmWnPJM

 

Jeremy Grantham says “Easiest leg of stock market bubble burst is over: Here’s what’s next

https://www.marketwatch.com/story/jeremy-grantham-says-easiest-leg-of-stock-market-bubble-burst-over-heres-whats-next-11674584001?mod=newsviewer_click_seemore

 

S&P 500 Momentum Barometers

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The intermediate term Barometer added 0.87 to 69.80. It remains Overbought.

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The long term Barometer slipped 0.80 to 65.60. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer slipped 2.54 to 77.12. It remains Overbought.

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The long term Barometer slipped 0.42 to 69.92. It remains Overbought.

Disclaimer: Seasonality ratings 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 Wednesday January 25th 2023”

  1. Ron/BC Says:

    Oaken Financial is paying 5.39% on an 18 month GIC up until Feb 2nd. That can be put into a TFSA and be tax free income. Their 1 year GIC is paying 5.25%.

  2. still_learning Says:

    My EQ Bank is paying 5.0% for a 1 yr GIC.

    They are advertising their new? bank card that works in ‘any’ ATM (that accepts M/C) with NO charges. You have to pre-load the card but it pays 2.5% interest, no fees, and 0.5% cash back on all purchases.

  3. Ron/BC Says:

    Still_Learning

    Yes, those rates aren’t bad, especially if putting $$$$ in a TFSA to get tax free cash. I like EQ Bank and have dealt with them before and have an account with them still. They aren’t leading with rising rates now though. I was hoping rates would rise like they did in 1980-81 but it doesn’t look like they will this time. But you never know…………………No one expected rates to rise like they did back then either!

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