{"id":159174,"date":"2022-09-07T02:22:00","date_gmt":"2022-09-07T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=159174"},"modified":"2022-09-07T08:52:00","modified_gmt":"2022-09-07T12:52:00","slug":"tech-talk-for-wednesday-september-7th-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/09\/07\/tech-talk-for-wednesday-september-7th-2022\/","title":{"rendered":"Tech Talk for Wednesday September 7th 2022"},"content":{"rendered":"

Pre-opening Comments for Wednesday September 7th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 10 points in pre-opening trade.<\/em><\/p>\n

Index futures were virtually unchanged following release of the July U.S. Trade Report at 8:30 AM EDT<\/b>. Consensus was a deficit of $70.5 billion versus a deficit of $79.60 billion in June. Actual was a deficit of $70.6 billion.<\/em><\/p>\n

The Canadian Dollar was virtually unchanged at U.S.75.82 cents following release of Canada\u2019s July Merchandise Trade Report at 8:30 AM EDT.<\/b> Consensus was a surplus of $3.5 billion versus a surplus of $5.05 billion in June. Actual was a surplus of $4.05 billion.<\/em><\/p>\n

The Bank of Canada is scheduled to update its lending rate to Canada\u2019s major banks at 10:00 AM EDT.<\/b> Consensus is calling for another 0.75% increase.<\/em><\/p>\n

Apple was virtually unchanged at $154.53<\/b> prior to release of new products including launch of the iPhone 14. <\/sup><\/em><\/p>\n

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

United Airlines added $0.06 to $36.64<\/b> after raising its third quarter revenue guidance.<\/em><\/p>\n

\"clip_image001[2]\"<\/a><\/p>\n

Canada Goose slipped $0.17 to S17.31<\/b> after Cowen lowered its target price from $38 to $30.<\/em><\/p>\n

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

 <\/p>\n

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

Headline reads \u201cWhile economic data points to a recession on the horizon, credit balances in margin accounts hint that investors may not be positioned for the ultimate market downturn as they were prior to past recessions<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/09\/06\/stock-market-outlook-for-september-7-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Long term Treasury Bond iShares $TLT moved below $107.48 extending an intermediate downtrend.<\/p>\n

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Chile iShares $ECH moved above $29.82 extending an intermediate uptrend. <\/p>\n

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Japan iShares $EWJ moved below $51.56 extending an intermediate downtrend. Impacted by a hurricane<\/p>\n

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South Korea iShares $EWY moved below $55.02 extending an intermediate downtrend. Impacted by a hurricane!<\/p>\n

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

Charter Communications $CHTR a NASDAQ 100 stock moved below $407.75 extending an intermediate downtrend.<\/p>\n

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Raytheon Technologies $RTX an S&P 100 stock moved below $87.10 extending an intermediate downtrend. <\/p>\n

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

Medtronic $MDT an S&P 100 stock moved below $86.29 extending an intermediate downtrend.<\/p>\n

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

Shopify $SHOP.TO a TSX 60 stock moved below $38.63 extending an intermediate downtrend. <\/p>\n

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

TC Energy $TRP.TO a TSX 60 stock moved below $62.17 extending an intermediate downtrend.<\/p>\n

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

Waste Connections $WCN.TO a TSX 60 stock moved above $186.10 to an all-time high extending an intermediate uptrend.<\/p>\n

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 <\/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 6th<\/sup> 2022<\/p>\n

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

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for September 6th<\/sup> 2022<\/p>\n

\"clip_image014\"<\/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 September 6th<\/sup> 2021 <\/p>\n

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

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

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

 <\/p>\n

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

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

Tom Bowley<\/em><\/strong><\/font> says \u201cS&P 500 testing key support<\/strong><\/em>\u201d. <\/p>\n

https:\/\/www.youtube.com\/watch?v=Uo3LXS3Nz0o<\/a><\/p>\n

 <\/p>\n

Leslie Jouflas<\/font><\/em><\/strong> \u201cmonitors the tech giants<\/strong><\/em>\u201d<\/p>\n

Monitoring The Tech Giants | Leslie Jouflas, CMT | Your Daily Five (09.06.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

\"clip_image017\"<\/a><\/p>\n

The intermediate term Barometer slipped 1.00 to 34.60 yesterday. It remains Oversold. Trend remains down.<\/p>\n

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

The long term Barometer was unchanged at 27.80 yesterday. It remains Oversold. Trend remains down. <\/p>\n

 <\/p>\n

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

\"clip_image019\"<\/a><\/p>\n

The intermediate term Barometer dropped 5.88 to 37.82 yesterday. It changed from Neutral to Oversold on a move below 40.00. Trend is down.<\/p>\n

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

The long term Barometer was unchanged at 31.09 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 Wednesday September 7th U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Index futures were virtually unchanged following release of the July U.S. Trade Report at 8:30 AM EDT. Consensus was a deficit of $70.5 billion versus a deficit of $79.60 billion 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-159174","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159174","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=159174"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159174\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=159174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=159174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=159174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}