{"id":159046,"date":"2022-09-01T02:22:00","date_gmt":"2022-09-01T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=159046"},"modified":"2022-09-01T08:43:40","modified_gmt":"2022-09-01T12:43:40","slug":"tech-talk-for-thursday-september-1st-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/09\/01\/tech-talk-for-thursday-september-1st-2022\/","title":{"rendered":"Tech Talk for Thursday September 1st 2022"},"content":{"rendered":"

Pre-opening Comments for Thursday September 1st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 22 points in pre-opening trade. <\/em><\/p>\n

Costco added $1.70 to $523.80<\/b> after its August sales rose 11%<\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Walt Disney advanced $1.80 to 113.88<\/b> on news that the company is exploring an approach to membership similar to Amazon\u2019s Prime model<\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

Okta dropped $7.08 to $84.35<\/b> after releasing second quarter results. Mizuho lowered its target price from $150 to $110.<\/em><\/p>\n

\"clip_image003[1]\"<\/a><\/p>\n

Nvidia dropped $9.86 to $141.08<\/b> after the U.S. government imposed restrictions on certain chip sales to China and Russia. <\/em><\/p>\n

\"clip_image004[1]\"<\/a><\/p>\n

 <\/p>\n

EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n

Headline reads \u201cSeptember is the most volatile month of the year, resulting in an average decline for the S&P 500 Index of 0.6% over the past two decades.\u201d<\/strong><\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/08\/31\/stock-market-outlook-for-september-1-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

Technical Notes Yesterday<\/strong><\/font><\/p>\n

Silver ETN $SLV moved below $16.73 extending an intermediate downtrend. <\/p>\n

\"clip_image001\"<\/a><\/p>\n

Merck $MRK a Dow Jones Industrial Average stock moved below $86.02 extending an intermediate downtrend.<\/p>\n

\"clip_image002\"<\/a><\/p>\n

Procter & Gamble $PG a Dow Jones Industrial Average stock moved below intermediate support at $150.63<\/p>\n

\"clip_image003\"<\/a><\/p>\n

AbbVie $ABBV an S&P 100 stock moved below $134.50 extending an intermediate downtrend. <\/p>\n

\"clip_image004\"<\/a><\/p>\n

Canadian Tire $CTC.A.TO a TSX 60 stock moved below $157.77 extending an intermediate downtrend. <\/p>\n

\"clip_image005\"<\/a><\/p>\n

 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for August 31st<\/sup> 2022<\/p>\n

\"clip_image007\"<\/a><\/p>\n

Green: Increase from previous day<\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for August 31st<\/sup> 2022<\/p>\n

\"clip_image009\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Sectors<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for August 31st<\/sup> 2021 <\/p>\n

\"clip_image011\"<\/a><\/p>\n

Green: Increase from previous day<\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

 <\/p>\n

Links from valued providers<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Link from Mark Bunting<\/font><\/em><\/strong> and www.uncommonsenseinvestor.com<\/a><\/p>\n

Hedge Funds’ Three Favourite Blue Chip Stocks – Uncommon Sense Investor<\/a><\/p>\n

 <\/p>\n

Greg Schnell<\/font><\/em><\/strong> discusses \u201cA fork in the road<\/strong><\/em>\u201d.<\/p>\n

Fork In The Road | Greg Schnell, CMT | Market Buzz (08.31.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Editor\u2019s Note: An excellent review on technicals for equity markets outside of North America<\/em><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image012\"<\/a><\/p>\n

The intermediate term Barometer dropped another 7.60 to 43.00 yesterday. It remains Neutral. Trend remains down.<\/p>\n

\"clip_image013\"<\/a><\/p>\n

The long term Barometer dropped another 1.40 to 29.00 yesterday. It remains Oversold, Trend remains down.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image014\"<\/a><\/p>\n

The intermediate term Barometer dropped 5.88 to 49.14 yesterday. It remains Neutral. Trend remains down.<\/p>\n

\"clip_image015\"<\/a><\/p>\n

The long term Barometer added 0.84 to 35.29 yesterday. It remains Oversold.<\/p>\n

<\/b><\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Thursday September 1st U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade. Costco added $1.70 to $523.80 after its August sales rose 11% Walt Disney advanced $1.80 to 113.88 on news that the company is exploring an approach to membership similar to Amazon\u2019s […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-159046","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=159046"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159046\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=159046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=159046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=159046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}