{"id":159099,"date":"2022-09-02T02:22:00","date_gmt":"2022-09-02T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=159099"},"modified":"2022-09-02T08:47:53","modified_gmt":"2022-09-02T12:47:53","slug":"tech-talk-for-friday-september-2nd-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/09\/02\/tech-talk-for-friday-september-2nd-2022\/","title":{"rendered":"Tech Talk for Friday September 2nd 2022"},"content":{"rendered":"

Pre-opening Comments for Friday September 2nd<\/sup><\/strong><\/font><\/em><\/p>\n

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

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 26 points in pre-opening trade. <\/em><\/p>\n

U.S. equity index futures moved higher following release of the August Employment Report at 8:30 AM EDT. <\/b>Consensus for August non-farm Payrolls was a drop to 318,000 from revised 526,000 in July. Actual was 315,000. Consensus for August Unemployment Rate was unchanged from July at 3.5%. Actual was an increase to 3.7%. Consensus for August Average Hourly Earnings was an increase of 0.4% versus a gain of 0.5% in July. Actual was an increase of 0.3%. On a year-over-year basis, consensus for August Average Hourly Earnings was an increase 5.3% versus a gain of 5.2% in July. Actual was an increase of 5.2%.<\/em><\/p>\n

Lululemon advanced $26.51 to $320.96<\/b> after reporting higher than consensus second quarter revenues and earnings. The company also offered positive guidance. <\/em><\/p>\n

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

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

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

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

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

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

Broadcom gained $10.99 to $503.00<\/b> after reporting higher than consensus fiscal third quarter revenues and earnings.<\/em><\/p>\n

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

Dow Inc slipped $0.56 to $49.40<\/b> after JP Morgan lowered its target price from $60 to $47.<\/em><\/p>\n

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

 <\/p>\n

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

 <\/p>\n

Headline reads \u201dThe concerning economic data-points continue to stack up, this time with US Construction Spending showing a very rare July decline<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/09\/01\/stock-market-outlook-for-september-2-2022\/<\/em><\/a><\/p>\n

<\/em><\/p>\n

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

U.S. Dollar Index ETN $UUP moved above $29.20 to an all-time high extending an intermediate uptrend. <\/p>\n

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

The Canadian Dollar closed at a 21 month closing low.<\/p>\n

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

Precious metals and related ETFs\/equities including GLD, PPLT, GDXJ, XGD.TO and FNV.TO moved below support extending an intermediate downtrend. <\/p>\n

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

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

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

\"clip_image006\"<\/a><\/p>\n

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

NASDAQ 100 stocks moving below intermediate support included CTSH, DOCU, NVDA, OKTA and ZM<\/p>\n

\"clip_image008\"<\/a><\/p>\n

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

S&P 100 stocks moving below intermediate support included PG, FDX and CRM.<\/p>\n

\"clip_image010\"<\/a><\/p>\n

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

TSX 60 equities moving below intermediate support included RCI, YRI.TO, FNV.TO and BNS.TO. <\/p>\n

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

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

Bausch Health $BHC.TO a TSX 60 stock moved above Cdn$8.46 completing a double bottom pattern.<\/p>\n

\"clip_image014\"<\/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 September 1st<\/sup> 2022<\/p>\n

\"clip_image016\"<\/a><\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for September 1st<\/sup> 2022<\/p>\n

\"clip_image018\"<\/a><\/p>\n

Green: Increase from previous day<\/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 September 1st<\/sup> 2021 <\/p>\n

\"clip_image020\"<\/a><\/p>\n

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

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

 <\/p>\n

Notes offered by valued providers<\/strong><\/font><\/p>\n

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

Tom Bowley<\/font><\/em><\/strong> says \u201cS&P 500 slips for fourth straight day<\/strong><\/em>\u201d<\/p>\n

https:\/\/www.youtube.com\/watch?v=lGKKKgJGmdY<\/a><\/p>\n

 <\/p>\n

Lawrence McMillan<\/font><\/em><\/strong> says \u201cThe stock market is unrelenting bearish, but still nowhere close to triggering a buy signal<\/strong><\/em>\u201d.<\/p>\n

https:\/\/www.marketwatch.com\/story\/the-stock-market-is-unrelentingly-bearish-but-still-nowhere-close-to-triggering-a-buy-signal-11662062876?mod=newsviewer_click_seemore<\/a><\/p>\n

 <\/p>\n

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

\"clip_image021\"<\/a><\/p>\n

The intermediate term Barometer added 1.40 to 44.40 yesterday. It remains Neutral.<\/p>\n

\"clip_image022\"<\/a><\/p>\n

The long term Barometer added 1.20 to 30.20 yesterday. It remains Oversold. <\/p>\n

 <\/p>\n

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

\"clip_image023\"<\/a><\/p>\n

The intermediate term Barometer dropped 7.14 to 42.02 yesterday. It remains Neutral. Trend remains down.<\/p>\n

\"clip_image024\"<\/a><\/p>\n

The long term Barometer dropped 3.36 to 31.93 yesterday. It remains Oversold. Trend remains down. <\/p>\n

 <\/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 Friday September 2nd U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade. U.S. equity index futures moved higher following release of the August Employment Report at 8:30 AM EDT. Consensus for August non-farm Payrolls was a drop to 318,000 from revised 526,000 in […]<\/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-159099","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159099","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=159099"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159099\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=159099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=159099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=159099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}