{"id":160172,"date":"2022-10-12T02:22:00","date_gmt":"2022-10-12T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=160172"},"modified":"2022-10-12T08:53:44","modified_gmt":"2022-10-12T12:53:44","slug":"tech-talk-for-wednesday-october-12th-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/10\/12\/tech-talk-for-wednesday-october-12th-2022\/","title":{"rendered":"Tech Talk for Wednesday October 12th 2022"},"content":{"rendered":"

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

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 9 points in pre-opening trade. <\/em><\/p>\n

Index futures moved lower following release of the September Producer Price Index at 8:30 AM EDT<\/b>. Consensus was an increase of 0.2% versus a drop of 0.1% in August. Actual was an increase of 0.4%. On a year-over-year basis, consensus was an increase of 8.4% versus a gain of 8.7% in August. Actual was an increase of 8.5%. Excluding food and energy, consensus was an increase of 0.3% versus a gain of 0.4% in August. Actual was an increase of 0.3%. On a year-over-year basis, consensus was an increase of 7.3% versus a gain of 7.3% in August. Actual was an increase of 7.2%.<\/em><\/p>\n

Pepsico added $4.52 to $167.11<\/b> after reporting higher than consensus third quarter revenues and earnings. The company also raised guidance. <\/em><\/p>\n

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Brookfield Renewable Partners gained $0.03 to US$29.10 and Cameco dropped $3.37 to US$22.45<\/b> after reaching an agreement to purchase Westinghouse Electric\u2019 nuclear technology services in a deal valued at $7.88 billion.<\/em><\/p>\n

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

Headline reads \u201cWhile both asset classes have been dismal this year, bonds continue to outperform stocks, which has kept the stock market on a sell signal according this metric since the start of the year<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/10\/11\/stock-market-outlook-for-october-12-2022\/<\/em><\/a><\/p>\n

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

NASDAQ Composite Index moved below 10,565.13 extending an intermediate downtrend.<\/p>\n

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S&P\/TSX 60 Index moved below 1,104.88 extending an intermediate downtrend.<\/p>\n

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TSX Financials iShares $XFN.TO moved below $42.09 extending an intermediate downtrend.<\/p>\n

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Bank of Montreal $BMO a TSX 60 stock moved below $117.50 extending an intermediate downtrend. <\/p>\n

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Brookfield Infrastructure $BIP.UN a TSX 60 stock moved below $46.41 extending an intermediate downtrend. <\/p>\n

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Bausch Health $BHC.TO a TSX 60 stock moved below support at Cdn$9.06 completing a double top pattern.<\/p>\n

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Netflix $NFLX an S&P 100 stock moved below $214.69 extending an intermediate downtrend.<\/p>\n

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NASDAQ 100 stocks moving below intermediate support included TCOM, ASML, SNPS, KLAC, ADI and JD.<\/p>\n

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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 October 11th<\/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

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

Daily Seasonal\/Technical Commodities Trends for October 11th<\/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

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

Daily Seasonal\/Technical Sector Trends for October 11th<\/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

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

Quint Tatro<\/font><\/em><\/strong> says \u201cPeople are underestimating how quickly CPI data can fall this year<\/strong>\u201d<\/p>\n

People are underestimating how quickly CPI data can fall this year, says Quint Tatro \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Chart of the Day<\/strong><\/font><\/p>\n

Lumber futures recently entered their period of seasonal strength from October 1st<\/sup> to February 5th<\/sup>. Technicals have started to improve. Yesterday, futures moved above their 20 day moving average (Added 2 to score) and strength relative to the S&P 500 Index turned positive from neutral (Add 2 to score). Technical score increased yesterday from -2 to +2. Intermediate trend remains down (Score:-2) and the three daily momentum indicators are trend higher (Score: 2)<\/p>\n

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

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The intermediate term Barometer slipped 0.80 to 11.80 yesterday. It remains Oversold. <\/p>\n

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The long term Barometer added 0.20 to 16.60 yesterday. It remains Oversold. <\/p>\n

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

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The intermediate term Barometer plunged 5.08 yesterday. It remains Oversold. <\/p>\n

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The long term Barometer dropped 2.97 to 21.61 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 Wednesday October 12th U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Index futures moved lower following release of the September Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a drop of 0.1% in August. Actual was […]<\/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-160172","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/160172","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=160172"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/160172\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=160172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=160172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=160172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}