{"id":159658,"date":"2022-09-23T02:22:00","date_gmt":"2022-09-23T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=159658"},"modified":"2022-09-23T08:46:53","modified_gmt":"2022-09-23T12:46:53","slug":"tech-talk-for-friday-september-23rd-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/09\/23\/tech-talk-for-friday-september-23rd-2022\/","title":{"rendered":"Tech Talk for Friday September 23rd 2022"},"content":{"rendered":"

Pre-opening Comments for Friday September 23rd<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 45 points in pre-opening trade.<\/em><\/p>\n

The Canadian Dollar was virtually unchanged at US74.00 cents following release of Canada\u2019s July Retail Sales.<\/b> Consensus was a drop of 2.0%. Actual was a drop of 2.5%.<\/em><\/p>\n

WTI Crude oil dropped $3.08 to $80.41 per barrel<\/b> on strength in the U.S. Dollar. <\/em><\/p>\n

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FedEx dropped 1.54 to $153.00 <\/b>after target price on the stock was lowered by Cowen, Evercore and Citigroup. <\/em><\/p>\n

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Costco dropped $16.66 to $470.51<\/b> after JP Morgan lowered its target price from $589 to $550.<\/em><\/p>\n

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Steelcase slipped $0.17 to $8.14<\/b> after Benchmark lowered its target price from $16 to $12.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cThe Fed may be pushing us out of bond ETFs, for now, but, as the economy falls into recession, this asset class will require a core allocation in portfolios again.<\/strong><\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/09\/22\/stock-market-outlook-for-september-23-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

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

ETFs moving below intermediate support: TAN, XLB, XLY, EZU, IAI, CARZ, XIT.TO<\/p>\n

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S&P 100 stocks moving below intermediate support: NKE, TGT, AXP, BAC. COF, JPM, MA, V, MDT, DHR, DD, KMI<\/p>\n

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NASDAQ 100 stocks moving below intermediate support: PYPL, SPLK, SWKS, TTWO, MRVL, AMD, ILMN, JD<\/p>\n

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TSX 60 stocks breaking intermediate support: CP, TRI, CSU, ATD, BNS, MFC<\/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 22nd<\/sup> 2022<\/p>\n

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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 22nd<\/sup> 2022<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for September 22nd<\/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

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

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

Dave Keller<\/strong><\/font> notes \u201cMarket snatches defeat from the jaws of victory<\/strong><\/em>\u201d.<\/p>\n

Market Snatches Defeat from the Jaws of Victory | David Keller, CMT | The Final Bar (09.21.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped another 4.20 to 12.00 yesterday. It remains Oversold. Trend remains down. <\/p>\n

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The long term Barometer dropped another 4.00 to 20.20 yesterday. It remains Oversold. Trend remains down. <\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer plunged 11.71 to 24.15 yesterday. It remains Oversold. Trend remains down.<\/p>\n

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The long term Barometer dropped 2.42 to 27.12 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 23rd U.S. equity index futures were lower this morning. S&P 500 futures were down 45 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US74.00 cents following release of Canada\u2019s July Retail Sales. Consensus was a drop of 2.0%. Actual was a drop of 2.5%. WTI Crude oil […]<\/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-159658","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159658","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=159658"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/159658\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=159658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=159658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=159658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}