{"id":159265,"date":"2022-09-12T02:22:00","date_gmt":"2022-09-12T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=159265"},"modified":"2022-09-12T08:42:02","modified_gmt":"2022-09-12T12:42:02","slug":"tech-talk-for-monday-september-12th-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/09\/12\/tech-talk-for-monday-september-12th-2022\/","title":{"rendered":"Tech Talk for Monday September 12th 2022"},"content":{"rendered":"

Pre-opening Comments for Monday September 12th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 12 points in pre-opening trade. <\/em><\/p>\n

General Electric added $0.26 to $74.30<\/b> after announcing plans to spin off its healthcare division in January.<\/em><\/p>\n

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

Bristol Myers Squibb gained $4.62 to $74.78<\/b> after the FDA approved Sotyktu, a drug for psoriasis. <\/em><\/p>\n

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

PayPal added $1.18 to $97.41<\/b> after Deutsche Bank raised its target price from $114 to $140.<\/em><\/p>\n

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 <\/p>\n

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

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

Headline reads \u201cThe market is providing a number of encouraging signals to suggest that an intermediate-term trend for stocks of higher-highs and higher-lows is underway\u201d.<\/strong><\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/09\/10\/stock-market-outlook-for-september-12-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

The Bottom Line<\/strong><\/font><\/p>\n

Turbulence in world equity markets is typical in the month of September.<\/b> This year, downside moves in the first week in September were met virtually with equal upside moves last week. Look for turbulence to continue; particularly before the Fed Reserve updates its monetary policy on September 21st<\/sup>. Adding to turbulence is the possibility of a strike by U.S. railway workers at the end of this week<\/p>\n

World equity markets historically have moved higher from early October until at least the end of the year.<\/b> A link below to Larry Williams\u2019 video entitled \u201cDown, then up and away\u201d offers a likely scenario for this year.<\/p>\n

Consensus for Earnings and Revenues for S&P 500 Companies<\/p>\n

Analysts lowered earnings estimates slightly last week. <\/b>According to www.factset.com<\/a> third quarter earnings on a year-over-year basis are expected to increase 3.7% (versus previous estimate at 3.8%) and revenues are expected to increase 8.8%. Fourth quarter earnings are expected to increase 4.8% (versus previous estimate at 4.9%) and revenues are expected to increase 6.5%. Earnings for all of 2022 are expected to increase 7.9% and revenues are expected to increase 10.8%. <\/p>\n

Factset also released preliminary estimates for 2023 showing higher earnings growth, but lower revenue growth than 2022<\/b>. First quarter 2023 earnings are expected to increase 7.4% and revenues are expected to increase 6.3%. Second quarter 2023 earnings are expected to increase 6.3% and revenues are expected to increase 3.6%. For all of 2023, earnings are expected to increase 8.2% and revenues are expected to increase 4.5%.<\/p>\n

 <\/p>\n

Economic News This Week<\/strong><\/font><\/p>\n

U.S. August Consumer Price Index<\/b> released at 8:30 AM EDT on Tuesday is expected to slip 0.1% versus unchanged in July On a year-over-year basis, August CPI is expected to increase 8.1% versus a gain of 8.5% in July. Excluding food and energy<\/b>, consensus is a gain of 0.4% versus an increase of 0.3% in July. On a year-over-year basis, core August CPI is expected to increase 6.1% versus a gain of 5.9% in July.<\/p>\n

U.S. August Producer Price Index<\/b> released at 8:30 AM EDT on Wednesday is expected to decrease 0.1% versus a decline of 0.5% in July. On a year-over-year basis, August PPI is expected to increase 8.9% versus a gain of 9.8% in July. Excluding food and energy<\/b>, August PPI is expected to increase 0.3% versus a gain of 0.2% in July. On a year-over-year basis, core August PPI is expected to increase 7.1% versus a gain of 7.6% in July. <\/p>\n

August Retail Sales<\/b> released at 8:30 AM EDT on Thursday are expected to increase 0.5% versus a gain of 0.8% in July. Excluding auto sales, August Retail Sales are expected to increase 0.2% versus a gain of 0.4% in July.<\/p>\n

September Empire State Manufacturing Survey<\/b> released at 8:30 AM EDT on Thursday is expected to improve to -13.90 from -31.30 in August.<\/p>\n

September Philly Fed Index<\/b> released at 8:30 AM EDT on Thursday is expected to slip to 3.5 from 6.2 in August.<\/p>\n

August Capacity Utilization<\/b> released at 9:15 AM EDT on Thursday is expected to be unchanged from July at 80.3%. August Industrial Production<\/b> is expected to increase 0.2% versus a gain of0.6% in July.<\/p>\n

July Business Inventories<\/b> released at 10:00 AM EDT on Thursday are expected to increase 0.7% versus a gain of 1.4% in June.<\/p>\n

September Michigan Consumer Sentiment<\/b> released at 10:00 AM EDT on Friday is expected to increase to 60.0 from 58.2 in August.<\/p>\n

 <\/p>\n

Selected Earnings Report This Report<\/strong><\/font><\/p>\n

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

Monday<\/b>: Oracle<\/p>\n

Thursday:<\/b> Adobe<\/p>\n

 <\/p>\n

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

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

Daily Seasonal\/Technical Equity Trends for September 9th<\/sup> 2022<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for September 9th<\/sup> 2022<\/p>\n

\"clip_image004\"<\/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 9th<\/sup> 2021 <\/p>\n

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

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

 <\/p>\n

Schachter Energy Conference Special Offer<\/strong><\/font><\/p>\n

After a 2 year hiatus we’re excited that the Schachter "Catch the Energy" Conference<\/b><\/a> is back – bigger and better than ever. The event takes place in Calgary October 22nd <\/b>at Mount Royal University, and Josef’s team has put together a spectacular, exclusive offer for our listeners.
1) Get a $100 discount<\/b> on a $249 quarterly subscription to the Schachter Energy Report
2)  PLUS <\/b>get two fully transferable tickets<\/i> to the Conference – an additional $238 value<\/b>.
3)  You’re making money with this offer!
4)  Oh yeah – the exclusive promo code is MT2022<\/b>. CLICK HERE to access the offer.<\/a><\/p>\n

 <\/p>\n

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

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

Mark Leibovit\u2019s<\/em><\/strong><\/font> Weekly Comment<\/p>\n

Crude Oil, Natural Gas, Climate, Geo-Cosmic Events \u2013 HoweStreet<\/a><\/p>\n

 <\/p>\n

Larry Williams<\/font><\/em><\/strong> says \u201cDown, then up and away<\/strong><\/em>\u201d<\/p>\n

Down, Then Up, Up, Up & Away | Larry Williams Special Presentation (09.09.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Greg Schnell<\/font><\/em><\/strong> asks \u201cIs crypto finally moving higher<\/strong><\/em>\u201d?<\/p>\n

Is Crypto Finally Moving Higher? | The Canadian Technician | StockCharts.com<\/a><\/p>\n

 <\/p>\n

Mike\u2019s Money Talks<\/font><\/em><\/strong> for September 10th <\/p>\n

Mike\u2019s Content (mikesmoneytalks.ca)<\/a><\/p>\n

 <\/p>\n

Technical Scoop from David Chapman<\/font><\/em><\/strong> and www.EnrichedInvesting.com<\/a><\/p>\n

https:\/\/enrichedinvesting.com\/wp-content\/uploads\/2022\/09\/Bear-rebound-Central-hikes-energy-bailouts-oil-caps-sinking-currencies-recession-risk-nuclear-restart.pdf<\/a><\/p>\n

 <\/p>\n

Tom McClellan<\/font><\/em><\/strong> discuses \u201c A rainbow convergence and a Head & Shoulders<\/strong><\/em>.\u201d<\/p>\n

A Rainbow Convergence and a Head-and-Shoulders | Top Advisors Corner | StockCharts.com<\/a><\/p>\n

 <\/p>\n

Mary Ellen McGonagle<\/font><\/strong><\/em> says \u201cThe S&P 500 has traded above key resistance. Here is what to do next<\/strong><\/em>\u201d.<\/p>\n

The S&P 500 Has Traded Back Above Key Resistance – Here’s What To Do Next | The MEM Edge | StockCharts.com<\/a><\/p>\n

 <\/p>\n

Victor Adair\u2019s<\/font><\/em><\/strong> Trading Notes for September 9th<\/sup><\/p>\n

Trading Desk Notes For September 9, 2022 \u2013 HoweStreet<\/a><\/p>\n

 <\/p>\n

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

This Stock is "Exceeding Lofty Expectations" – Uncommon Sense Investor<\/a><\/p>\n

https:\/\/uncommonsenseinvestor.com\/historian-the-2020s-could-actually-be-worse-than-the-1970s\/<\/a><\/p>\n

11 Stock Picks That Billionaires Love | Kiplinger<\/a><\/p>\n

ICYMI | Mike Taylor & Keith McCullough: "The Worst Set-Up (hedgeye.com)<\/a><\/p>\n

 <\/p>\n

Technical Scores<\/em><\/strong><\/font><\/p>\n

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

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

Calculated as follows:<\/em><\/b><\/p>\n

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

Intermediate Uptrend based on at least 20 trading days: Score 2<\/em><\/p>\n

          (Higher highs and higher lows)<\/em><\/p>\n

Intermediate Neutral trend: Score 0<\/em><\/p>\n

          (Not up or down)<\/em><\/p>\n

Intermediate Downtrend: Score -2<\/em><\/p>\n

          (Lower highs and lower lows)<\/em><\/p>\n

 <\/p>\n

Outperformance relative to the S&P 500 Index: Score: 2<\/em><\/p>\n

Neutral Performance relative to the S&P 500 Index: 0<\/em><\/p>\n

Underperformance relative to the S&P 500 Index: Score \u20132<\/em><\/p>\n

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

Above 20 day moving average: Score 1<\/em><\/p>\n

At 20 day moving average: Score: 0<\/em><\/p>\n

Below 20 day moving average: \u20131<\/em><\/p>\n

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

Up trending momentum indicators (Daily Stochastics, RSI and MACD): 1<\/em><\/p>\n

Mixed momentum indicators: 0<\/em><\/p>\n

Down trending momentum indicators: \u20131<\/em><\/p>\n

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

Technical scores range from -6 to +6. Technical buy signals based on the above guidelines start when a security advances to at least 0.0, but preferably 2.0 or higher. Technical sell\/short signals start when a security descends to 0, but preferably -2.0 or lower. <\/em><\/p>\n

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

Long positions require maintaining a technical score of -2.0 or higher. Conversely, a short position requires maintaining a technical score of +2.0 or lower<\/em><\/p>\n

 <\/p>\n

Changes Last Week<\/strong><\/font><\/p>\n

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

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

Technical Note for Friday<\/strong><\/font><\/p>\n

Saputo $SAP.TO a TSX 60 stock moved above $34.25 extending an intermediate uptrend. <\/p>\n

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

 <\/p>\n

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

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

Using Seasonality to Determine Where We Are in the Economic Cycle (Recession)? and How to Invest<\/i><\/b><\/a><\/p>\n

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

Saturday, September 17, 2022 | 3:00 pm \u2013 3:45 pm EDT<\/b>
<\/em>Some leading indicators are hinting that we are on the path towards an economic recession, traditionally an ideal time to abandon risk in portfolios. Jon Vialoux will show you what he\u2019s looking at and how to best position your portfolio using seasonal analysis.<\/p>\n

Click on the following registration link to book your FREE spot to our presentation: <\/strong><\/em>Register Now<\/strong><\/em><\/a><\/p>\n

 <\/p>\n

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 <\/p>\n

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

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

The intermediate term Barometer jumped 9.20 to 66.20 on Friday and 30.60 last week to 66.20. It changed from Oversold to Overbought on a move above 60.00. Trend is up.<\/p>\n

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

The long term Barometer added 3.00 on Friday and 11.20 last week to 39.00. It remains Oversold. Trend is up.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer jumped 13.08 on Friday and 14.95 last week to 58.65. It remains Neutral. Trend is up.<\/p>\n

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

The long term Barometer added 4.64 on Friday and 4.77 last week to 35.86. It remains Oversold. <\/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 Monday September 12th U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. General Electric added $0.26 to $74.30 after announcing plans to spin off its healthcare division in January. Bristol Myers Squibb gained $4.62 to $74.78 after the FDA approved Sotyktu, a drug […]<\/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-159265","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159265","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=159265"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159265\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=159265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=159265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=159265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}