{"id":160246,"date":"2022-10-14T02:22:00","date_gmt":"2022-10-14T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=160246"},"modified":"2022-10-14T08:47:58","modified_gmt":"2022-10-14T12:47:58","slug":"tech-talk-for-friday-october-14th-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/10\/14\/tech-talk-for-friday-october-14th-2022\/","title":{"rendered":"Tech Talk for Friday October 14th 2022"},"content":{"rendered":"

Pre-opening Comments for Friday October 14th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 5 points in pre-opening trade.<\/em><\/p>\n

Index futures moved slightly higher following release of September U.S. Retail Sales at 8:30 AM EDT<\/b>. Consensus was an increase of 0.3% versus a gain of 0.3% in August. Actual was unchanged. Excluding auto sales, consensus was an increase of 0.1% versus a drop of 0.3% in August. Actual was an increase of 0.1%.<\/em><\/p>\n

UnitedHealth Group gained $6.59 to $516.50<\/b> after reporting higher than consensus third quarter revenues and earnings.<\/em><\/p>\n

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JP Morgan gained $2.16 to $111.53<\/b> after reporting higher than consensus third quarter revenues and earnings. <\/em><\/p>\n

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Wells Fargo added $0.61 to $42.99<\/b> after reporting higher than consensus third quarter revenues.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cReversal sessions in the equity market to the magnitude realized on Thursday are very rare, but they typically indicate indecision resulting in a spotty track record of forward returns for stocks<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/10\/13\/stock-market-outlook-for-october-14-2022\/<\/em><\/a><\/p>\n

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

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

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

Greg Schnell<\/font><\/strong> notes \u201cNice clues arrived on Thursday<\/strong>\u201d. <\/em><\/p>\n

https:\/\/stockcharts.com\/articles\/canada\/2022\/10\/nice-clues-arrived-on-thursday-77.html<\/em><\/a><\/p>\n

 <\/p>\n

Hap Sneddon<\/font><\/strong> on BNN Bloomberg late yesterday says \u201cWe have been looking for a bottom in equity markets<\/strong>\u201d.<\/em><\/p>\n

Energy is the strongest part of the market in Canada and the U.S.: Technical analyst Hap Sneddon – Video – BNN (bnnbloomberg.ca)<\/em><\/a><\/p>\n

 <\/p>\n

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

Editor\u2019s Note:<\/b> North American equity markets opened strongly lower yesterday after the release of a \u201chotter than expected\u201d September CPI report. By 10:00 AM EDT, indices entered into a spectacular \u201coutside reversal\u201d, a technically bullish event that is occurring when equity indices are extremely oversold. The following notes show the technical breakdowns recorded by indices, ETFs and individual equities prior to the reversal:<\/em><\/p>\n

 <\/p>\n

Dow Jones Industrial Average briefly dropped below 28,715.85 touching a two year low.<\/p>\n

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TSX Composite Index briefly dropped below $10,169.86 touching a 21 month low.<\/p>\n

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Selected ETFs briefly dropped below intermediate support: XLF, XLV, EZU, EWY, EWI, EFA, EZA, PIN, DIA, RSP, IEV, IWM, IAI, IHI, KBE, IYT, PHO, IHI, ZEM.TO<\/p>\n

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Selected S&P 100 stocks briefly dropped below intermediate support: AXP, BAC, BRK.B, IBM, MA, V, DOW, LOW<\/p>\n

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Selected NASDAQ 100 stocks briefly dropped below intermediate support: FAST, BIDU, CDW, EBAY, FISV, GOOG, MELI, NXPI, VRSN, TMUS, IDXX<\/p>\n

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Selected TSX 60 stocks dropped below intermediate support: NA, MFC, RY, CNR, GIB.A, CSU<\/p>\n

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 <\/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 October 13th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for October 13th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for October 13th<\/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

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

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

Repeat of Larry Williams\u2019<\/font><\/em><\/strong> video entitled \u201cUp, up and away<\/strong><\/em>\u201d<\/p>\n

Up, Up & Away | Larry Williams Special Presentation (10.12.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 6.80 to 17.60 yesterday. It remains Oversold. It also showed more evidence of recovering from a bottom.<\/p>\n

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The long term Barometer added 2.40 to 18.80 yesterday. It remains Oversold. It also showed more evidence of recovering from a bottom.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 3.39 to 30.08 yesterday. It remains Oversold, but shows short term signs of recovery.<\/p>\n

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The long term Barometer added 2.54 to 26.27 yesterday. It remains Oversold, but shows short term signs of recovery.<\/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 October 14th U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Index futures moved slightly higher following release of September U.S. Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.3% 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-160246","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/160246","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=160246"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/160246\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=160246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=160246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=160246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}