Pre-opening Comments for Wednesday January 10^th

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EST.

Lennar added $1.65 to $149.81 after the company raised its dividend by 33%. The company also increased its share buyback program to $5 billion.

Juniper Networks another added $0.21 to $37.02 after the company confirmed receipt of a cash offer by Hewlett Packard Enterprises to purchase the company for $40.00 per share. Value of the offer is $14 billion

WD 40 advanced $13.69 to $250.30 after reporting higher than consensus fiscal first quarter revenues and earnings.

Intuitive Surgical gained $17.44 to $348.00 after reporting higher than consensus fourth quarter revenues and earnings.

 

Technical Notes

Shopify $SHOP.TO a TSX 60 stock moved above Cdn$106.86 extending an intermediate uptrend.

Strength in Shopify was the main reason why S&P/TSE Information Technology iShares $XIT.TO moved above Cdn$52.22 extending an intermediate uptrend.

Visa $V a Dow Jones Industrial Average stock moved above $263.25 to an all-time high extending an intermediate uptrend.

Gilead $GILD a NASDAQ 100 stock moved above $85.97 to an eight year high extending an intermediate uptrend.

Disney $DIS a Dow Jones Industrial Average stock moved below $89.64 completing a double top pattern.

Uranium ETN $URA moved above $28.55 to a 10 year high extending an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Jan.9^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for Jan 9^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Jan.9^th 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by a Valued Provider

Don’t Make This Mistake – STOP BUYING GOLD! Tom Bowley

https://www.youtube.com/watch?v=6ZpFH2DmmZI

 

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 4.40 to 86.80. It remains Overbought. Daily data has turned down.

The long term Barometer slipped 0.80 to 77.20. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer dropped 2.67 to 75.22. It remains Overbought.

The long term Barometer was unchanged at 59.56. It remains Neutral.

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

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