Pre-opening Comments for Friday October 13^th

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

UnitedHealth Group added $6.76 to $532.30 after reporting higher than consensus third quarter earnings. The company also raised fourth quarter guidance.

Dollar General advanced $8.17 to $110.00 after the company reappointed its retired former chief executive officer

Wells Fargo gained $0.74 to $40.48 after reporting higher than consensus third quarter earnings.

Cassava Sciences plunged $4.85 to $12.69 after an investigation accused the firm of “egregious misconduct”.

 

EquityClock’s Daily Comment

Headline reads “In this high inflation backdrop and as we prepare for the risk of a recession ahead, the goal is to tailor portfolios towards those areas that have pricing power”.

https://equityclock.com/2023/10/12/stock-market-outlook-for-october-13-2023/

 

Technical Notes

U.S. Medical Devices iShares $IHI moved below $45.97 extending an intermediate downtrend.

Vertex $VRTX a NASDAQ 100 stock moved above $367.00 to an all-time high extending an intermediate uptrend.

Adobe $ADBE a NASDAQ 100 stock moved above $570.24 extending an intermediate uptrend.

Fastenal $FAST a NASDAQ 100 stock moved above $59.08 extending an intermediate uptrend.

Abbott Labs $ABT an S&P 100 stock moved below $91.42 extending an intermediate downtrend.

Align Technology $ALGN a NASDAQ 100 stock moved below intermediate support at $273.46

Couche Tard $ATD.TO a TSX 60 stock moved above Cdn$74.49 to an all-time high extending an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.12^th 2023

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 October 12^th 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 12^th 2023

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

2 Clear Strategies When Using the ADX | Stock Talk (10.12.23)

2 Clear Strategies When Using the ADX | Stock Talk (10.12.23) – YouTube

 

Best Ways To Find Trading Opportunities in Up, Down OR Sideways Markets | Your Daily Five (10.12.23)

Best Ways To Find Trading Opportunities in Up, Down OR Sideways Markets | Your Daily Five (10.12.23) – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 4.80 to 27.40. It remains Oversold.

The long term Barometer dropped 3.20 to 40.40. It remains Neutral

 

TSX Momentum Barometers

The intermediate term Barometer dropped 5.00 to 29.96. It remains Oversold.

The long term Barometer dropped 5.03 to 36.12. It changed from Neutral to Oversold.

 

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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