{"id":162569,"date":"2023-01-09T02:22:00","date_gmt":"2023-01-09T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=162569"},"modified":"2023-01-09T08:41:01","modified_gmt":"2023-01-09T13:41:01","slug":"tech-talk-for-monday-january-9th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/01\/09\/tech-talk-for-monday-january-9th-2023\/","title":{"rendered":"Tech Talk for Monday January 9th 2023"},"content":{"rendered":"<p><em><font size=\"5\"><strong>Pre-opening Comments for Monday January 9<sup>th<\/sup><\/strong><\/font><\/em><\/p>\n<p><em><b>U.S. equity index futures were higher this morning<\/b>. S&amp;P 500 futures were up 18 points in pre-opening trade.<\/em><\/p>\n<p><em><b>Goldman Sachs added $4.32 to $348.08<\/b> after announcing plans to cut 3,200 employees.<\/em><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image001-4.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image001\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image001\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image001_thumb-4.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><em><b>Lululemon dropped $45.23 to $284.03<\/b> after lowering fourth quarter earnings guidance. <\/em><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image0021-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image002[1]\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image002[1]\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image0021_thumb-3.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><em><b>Tilray dropped $0.10 to $2.85<\/b> after reporting a fiscal second quarter loss. <\/em><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image0031-4.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image003[1]\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image003[1]\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image0031_thumb-4.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><em><b>Abercrombie &amp; Fitch added $1.21 to $26.41<\/b> after the company upwardly revised fourth quarter revenue guidance after holiday sales exceeded expectations. <\/em><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image0041-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image004[1]\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image004[1]\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image0041_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><em><font size=\"5\"><strong>EquityClock\u2019s Daily Comment<\/strong><\/font> <\/em><\/p>\n<p><em>Headline reads \u201c<strong>Treasury bond market showing performance akin to past pre-recessionary periods<\/strong>\u201d.<\/em><\/p>\n<p><a href=\"http:\/\/www.equityclock.com\/2023\/01\/07\/stock-market-outlook-for-january-9-2023\/\"><em>http:\/\/www.equityclock.com\/2023\/01\/07\/stock-market-outlook-for-january-9-2023\/<\/em><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>The Bottom Line<\/strong><\/font><\/p>\n<p><b>Technical action by U.S. equity markets on Friday was encouraging<\/b>. Indices responded favourably to the December Employment Report: Unemployment unexpectedly dropped to 3.5% from 3.7%. Of greater importance, Average Hourly Earnings on a year-over-year basis dropped to 4.6% from 5.1% in November. However, the good news is likely to raise concerns by the Fed.<\/p>\n<p><b>U.S. equity indices have a history of moving sideways between the first week in January and the second week in March<\/b>. Thereafter, they move higher to the end of the year. They are notably stronger after mid-March during the third week in the U.S. Presidential cycle<\/p>\n<p><a href=\"http:\/\/charts.equityclock.com\/seasonal_charts\/indexes\/$SPX.PNG\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image002\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image002\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image002-4.png\" width=\"613\" height=\"420\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p>Several current events suggest that history will repeat:<\/p>\n<ul>\n<li>Fourth quarter earnings by S&amp;P 500 companies on average are expected to move lower on a year-over-year basis for the first time since 2008 followed by break-even earnings in the first and second quarters of 2023.Analyst continue to lower estimates. <\/li>\n<li>The intermediate term momentum Barometer moved to Overbought on Friday and the long term momentum Barometer is Neutral. Both are trending higher. <\/li>\n<li>The Federal Reserve has maintained a tightening monetary policy in order to dampen inflation pressures. More information about Fed intentions on interest rates is expected to be released by Federal Reserve chairman Powell on Tuesday morning. The Federal Reserve also is likely to update its intentions after release of the December CPI report on Thursday. <\/li>\n<\/ul>\n<p><b>Prospects for equity markets outside of the U.S. look more interesting between now and mid-March.<\/b> Recently they have started to outperform the S&amp;P 500 Index<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image003-4.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image003\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image003\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image003_thumb-4.png\" width=\"464\" height=\"387\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image004-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image004\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image004\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image004_thumb-3.png\" width=\"464\" height=\"387\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image005-4.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image005\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image005\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image005_thumb-4.png\" width=\"464\" height=\"387\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image006-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image006\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image006\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image006_thumb-2.png\" width=\"464\" height=\"387\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Consensus for Earnings and Revenues for S&amp;P 500 Companies<\/strong><\/font><\/p>\n<p><b><\/b><\/p>\n<p><b>Analysts once again lowered fourth quarter earnings and revenue estimates since our last report on December 19<sup>th<\/sup>. <\/b>According to <a href=\"http:\/\/www.factset.com\">www.factset.com<\/a> fourth quarter earnings are expected to decrease 4.1% (versus previous decrease of 2.8%) and revenues are expected to increase 3.8% (versus previous increase of 4.0%). For all of 2022 earnings are expected to increase 4.7% (versus previous increase of 5.1%) and revenues are expected to increase 10.4%.<\/p>\n<p><b>Preliminary earnings estimates for 2023 also moved lower. <\/b>According to <a href=\"http:\/\/www.factset.com\">www.factset.com<\/a> first quarter 2023 earnings are expected to decrease 0.1% (versus previous increase at 0.7%) but revenues are expected to increase 3.8% (versus previous increase of 3.6%). Second quarter 2023 earnings are expected to decrease 0.5% (versus previous increase at 0.3%) and revenues are expected to increase 0.9% (versus previous increase at 1.10%). For all of 2023, earnings are expected to increase 4.8% (versus previous increase of 5.5%) and revenues are expected to increase 3.2% (versus previous increase of 3.3%). <\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Economic News This Week<\/strong><\/font><\/p>\n<p><b>Federal Reserve Chairman<\/b> is scheduled to release a comment at 8:00 AM EST on Tuesday<\/p>\n<p><b>U.S. December Consumer Price Index<\/b> released at 8:30 AM EST on Thursday is expected to increase 0.1% versus a gain of 0.1% in November. <b>On a year-over-year basis<\/b>, December CPI is expected to increase 6.6% versus a gain of 7.1% in November. <b>Excluding food and energy<\/b>, December Consumer Price Index is expected to increase 0.3% versus a gain of 0.2% in November. <b>On a year-over-year basis<\/b>, core December CPI is expected to increase 5.7% versus a gain of 6.0% in November. <\/p>\n<p><b>January Consumer Sentiment<\/b> released at 10:00 AM EST on Friday is expected to increase to 60.0 from 59.7 in December.<\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Selected Earnings News This Week<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image008-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image008\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image008\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image008_thumb-2.png\" width=\"636\" height=\"418\" \/><\/a><\/p>\n<p>Focus this week is on reports released by money-center banks on Friday.<\/p>\n<p><b>     <br \/><\/b><\/p>\n<p><b><\/b><\/p>\n<p><font size=\"5\"><strong>Trader\u2019s Corner<\/strong><\/font><\/p>\n<p><strong><font size=\"5\"><\/font><\/strong><\/p>\n<p><font size=\"4\"><strong>Equity Indices and Related ETFs<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Equity Trends for January 6<sup>th<\/sup> 2023<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image010-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image010\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image010\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image010_thumb-3.png\" width=\"706\" height=\"348\" \/><\/a><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font><\/em><\/p>\n<p><em><font color=\"#ff0000\">Red: Decrease from previous day<\/font><\/em><\/p>\n<p>&#160;<\/p>\n<p><font size=\"4\"><strong>Commodities<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Commodities Trends for January 6<sup>th<\/sup> 2023<\/p>\n<p><b><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image012-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image012\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image012\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image012_thumb-3.png\" width=\"703\" height=\"454\" \/><\/a><\/b><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<b><\/b><\/font><\/em><\/p>\n<p><em><font color=\"#ff0000\">Red: Decrease from previous day<\/font><\/em><\/p>\n<p>&#160;<\/p>\n<p><font size=\"4\"><strong>Sectors<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Sector Trends for January 6<sup>th<\/sup> 2023 <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image014-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image014\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image014\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image014_thumb-2.png\" width=\"706\" height=\"474\" \/><\/a><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font><\/em><\/p>\n<p><em>Red: Decrease from previous day<\/em><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong><em>Technical Scores<\/em><\/strong><\/font><\/p>\n<p><strong><font size=\"5\"><em><\/em><\/font><\/strong><\/p>\n<p><b><em><\/em><\/b><\/p>\n<p><b><em>Calculated as follows:<\/em><\/b><\/p>\n<p><strong><em><\/em><\/strong><\/p>\n<p><em>Intermediate Uptrend based on at least 20 trading days: Score 2<\/em><\/p>\n<p><em>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (Higher highs and higher lows)<\/em><\/p>\n<p><em>Intermediate Neutral trend: Score 0<\/em><\/p>\n<p><em>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (Not up or down)<\/em><\/p>\n<p><em>Intermediate Downtrend: Score -2<\/em><\/p>\n<p><em>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (Lower highs and lower lows)<\/em><\/p>\n<p>&#160;<\/p>\n<p><em>Outperformance relative to the S&amp;P 500 Index: Score: 2<\/em><\/p>\n<p><em>Neutral Performance relative to the S&amp;P 500 Index: 0<\/em><\/p>\n<p><em>Underperformance relative to the S&amp;P 500 Index: Score \u20132<\/em><\/p>\n<p><em><\/em><\/p>\n<p><em>Above 20 day moving average: Score 1<\/em><\/p>\n<p><em>At 20 day moving average: Score: 0<\/em><\/p>\n<p><em>Below 20 day moving average: \u20131<\/em><\/p>\n<p><em><\/em><\/p>\n<p><em>Up trending momentum indicators (Daily Stochastics, RSI and MACD): 1<\/em><\/p>\n<p><em>Mixed momentum indicators: 0<\/em><\/p>\n<p><em>Down trending momentum indicators: \u20131<\/em><\/p>\n<p><em><\/em><\/p>\n<p><em>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<p><em><\/em><\/p>\n<p><em>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>&#160;<\/p>\n<p><font size=\"5\"><strong>Changes Last Week<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image016-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image016\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image016\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image016_thumb-2.png\" width=\"348\" height=\"342\" \/><\/a><b><\/b><\/p>\n<p><b>     <br \/><\/b><\/p>\n<p><b><\/b><\/p>\n<p><font size=\"5\"><strong>Technical Notes from Friday<\/strong><\/font><\/p>\n<p>Eurozone iShares $EZU moved above $41.67 extending an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image017-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image017\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image017\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image017_thumb-3.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Europe iShares $IEV (includes United Kingdom positions moved above $44.57 extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image018-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image018\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image018\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image018_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Italy iShares $EWI moved above $28.07 extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image019-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image019\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image019\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image019_thumb-3.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Germany iShares $EWG moved above $26.16 extending an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image020-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image020\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image020\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image020_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Steel ETF $SLX moved above $60.58 extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image021-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image021\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image021\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image021_thumb-2.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Aerospace &amp; Defense ETf $PPA moved above $80.35 to an all-time high.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image022-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image022\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image022\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image022_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Base Metals iShares $PICK moved above $43.25 extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image023-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image023\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image023\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image023_thumb-2.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Copper Miners ETF moved above $37.47 extending an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image024-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image024\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image024\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image024_thumb-2.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Rio Tinto $RIO one of the largest base metals producer in the world moved above $73.35 extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image025-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image025\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image025\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image025_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Freeport McMoran $FCX one of the world\u2019s largest copper producer moved above $41.15 extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image026-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image026\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image026\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image026_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p>S&amp;P 100 stock breakouts: Comcast $CMCSA moved above $37.59 extending an intermediate uptrend. FedEx $FDX<i> <\/i>moved above $184.39 extending an intermediate uptrend. Oracle $ORCL moved above $85.58 extending an intermediate uptrend. AT&amp;T $T moved above $19.52 extending an intermediate uptrend. Dow Holdings $DOW moved above $52.83 and $54.91 completing a reverse Head &amp; Shoulders pattern. Dupont $DD moved above $71.90 extending an intermediate uptrend. Berkshire Hathaway $BRK.B moved above $319.56 extending an intermediate uptrend. Duke Energy $DUK moved above $105.52 extending an intermediate uptrend. American International Group $AIG moved above $105.52 extending an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image027-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image027\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image027\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image027_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image028.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image028\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image028\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image028_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image029.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image029\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image029\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image029_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image030.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image030\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image030\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image030_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image031.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image031\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image031\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image031_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>NASDAQ 100 stock breakouts: Booking $BKNG a NASDAQ 100 stock moved above $2,152.37 and $2,161.05 extending an intermediate uptrend. Ross Stores $ROST a NASDAQ 100 stock moved above $120.39 extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image032.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image032\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image032\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image032_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image033.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image033\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image033\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image033_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>Starbucks $SBUX a Dow Jones Industrial Average stock moved above $105.54 extending an intermediate uptrend<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image034.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image034\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image034\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image034_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Links offered by valued providers<\/strong><\/font><\/p>\n<p><strong><font size=\"5\"><\/font><\/strong><\/p>\n<p><strong><em><font size=\"2\">Greg Schnell<\/font><\/em><\/strong> asks \u201c<strong><em>Is this the look for 2023<\/em><\/strong>\u201d?<\/p>\n<p><a href=\"https:\/\/stockcharts.com\/articles\/canada\/2023\/01\/is-this-the-look-for-2023-816.html\">Is This The Look For 2023? | The Canadian Technician | StockCharts.com<\/a><\/p>\n<p>&#160;<\/p>\n<p><strong><em><font size=\"2\">Mark Leibovit\u2019s<\/font><\/em><\/strong> comment<\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2023\/01\/the-implications-of-a-dropping-us-dollar-mark-leibovit\/\">The Implications of a Dropping US Dollar \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p>Links from <strong><em><font size=\"2\">Mark Bunting<\/font><\/em><\/strong> and <a href=\"http:\/\/www.uncommonsenseinvestor.com\">www.uncommonsenseinvestor.com<\/a><\/p>\n<p><a href=\"https:\/\/uncommonsenseinvestor.com\/best-stock-ideas-for-2023-from-our-all-star-roster\/\">Best Stock Ideas for 2023 From Our All-Star Roster &#8211; Uncommon Sense Investor<\/a><\/p>\n<p><a href=\"https:\/\/uncommonsenseinvestor.com\/eight-top-global-ideas-for-2023\/\">Eight Top Global Stock Ideas for 2023 &#8211; Uncommon Sense Investor<\/a><\/p>\n<p><a href=\"https:\/\/www.kiplinger.com\/investing\/stocks\/best-stocks-to-buy-now\">12 Best Stocks to Buy for 2023 | Kiplinger<\/a><\/p>\n<p><a href=\"https:\/\/www.kiplinger.com\/investing\/stocks\/small-cap-stocks\/super-small-cap-stocks-to-buy\">7 Best Small-Cap Stocks to Buy for 2023 | Kiplinger<\/a><\/p>\n<p><a href=\"https:\/\/www.morningstar.ca\/ca\/news\/230513\/3-cheap-stocks-to-start-2023.aspx\">3 Cheap Stocks to Start 2023 | Morningstar<\/a><\/p>\n<p>&#160;<\/p>\n<p><strong><em><font size=\"2\">Michael Campbell\u2019s<\/font><\/em><\/strong> Money Talks for January 7<sup>th<\/sup><\/p>\n<p><a href=\"https:\/\/mikesmoneytalks.ca\/category\/mikes-content\/complete-show\/?mc_cid=69d621644e&amp;mc_eid=592546b4b5\">https:\/\/mikesmoneytalks.ca\/category\/mikes-content\/complete-show\/?mc_cid=69d621644e&amp;mc_eid=592546b4b5<\/a><\/p>\n<p>&#160;<\/p>\n<p><strong><em><font size=\"2\">Tom Bowley<\/font><\/em><\/strong> says \u201c<em><strong>This sentiment indicator SCREAMS go long NOW<\/strong><\/em>\u201d.<\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=i4kKNWDOQD0\">This Sentiment Indicator SCREAMS Go Long NOW! | Tom Bowley | Your Daily Five (01.06.23) \u2013 YouTube<\/a><\/p>\n<p>&#160;<\/p>\n<p><strong><em>Has A New Bear Market Begun?<\/em><\/strong> | <strong><em><font size=\"2\">Mary Ellen McGonagle<\/font><\/em><\/strong> | The MEM Edge (01.06.23)<\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=IBb3fK_BmFk\">Has A New Bear Market Begun? | Mary Ellen McGonagle | The MEM Edge (01.06.23) \u2013 YouTube<\/a><\/p>\n<p>&#160;<\/p>\n<p><strong><em><font size=\"2\">Bob Hoye<\/font><\/em><\/strong> notes that \u201c<strong><em>Financial pressures again increasing<\/em><\/strong>\u201d<\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2023\/01\/financial-pressures-again-increasing-bob-hoye\/\">Financial Pressures Again Increasing \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p><strong><em><font size=\"2\">David Chapman<\/font><\/em><\/strong> and <a href=\"http:\/\/www.EnrichedInvesting.com\">www.EnrichedInvesting.com<\/a> weekly comment<\/p>\n<p><a href=\"https:\/\/enrichedinvesting.com\/wp-content\/uploads\/2023\/01\/Good-jobs-hikes-aside-negative-divergences-market-defiance-golden-shine-low-energy-January-barometer.pdf\">Good jobs, hikes aside, negative divergences, market defiance, golden shine, low energy, January barometer<\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>S&amp;P 500 Momentum Barometers<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image035.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image035\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image035\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image035_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The intermediate term Barometer advanced 21.80 on Friday and 18.40 last week to 67.80. It changed from Neutral to Overbought on a move above 60.00. Trend has turned up. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image036.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image036\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image036\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image036_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The long term Barometer added 8.60 on Friday and 7.60 last week to 57.60. It remains Neutral. Trend has turned up. <\/p>\n<p>&#160;<\/p>\n<p><strong><font size=\"5\">TSX Momentum Barometers<\/font><\/strong><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image037.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image037\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image037\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image037_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The intermediate term Barometer added 13.55 on Friday and 11.87 last week to 64.41. It changed from Neutral to Overbought on move above 60.00. Short term trend is up.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image038.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image038\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image038\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/01\/clip_image038_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The long term Barometer added 5.93 on Friday and 8.47 last week to 54.66, It remains Neutral. Short term trend is up. <\/p>\n<p>&#160;<\/p>\n<p><em><b>Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n<p><a href=\"http:\/\/www.equityclock.com\"><em>www.equityclock.com<\/em><\/a><em> 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":"<p>Pre-opening Comments for Monday January 9th U.S. equity index futures were higher this morning. S&amp;P 500 futures were up 18 points in pre-opening trade. Goldman Sachs added $4.32 to $348.08 after announcing plans to cut 3,200 employees. Lululemon dropped $45.23 to $284.03 after lowering fourth quarter earnings guidance. Tilray dropped $0.10 to $2.85 after reporting [&hellip;]<\/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-162569","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/162569","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=162569"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/162569\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=162569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=162569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=162569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}