{"id":169271,"date":"2023-09-01T02:22:00","date_gmt":"2023-09-01T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=169271"},"modified":"2023-09-01T08:57:36","modified_gmt":"2023-09-01T12:57:36","slug":"tech-talk-for-friday-september-1st-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/09\/01\/tech-talk-for-friday-september-1st-2023\/","title":{"rendered":"Tech Talk for Friday September 1st 2023"},"content":{"rendered":"

Pre-opening Comments for Friday September 1st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures advanced 29 points at 8:35 AM EDT<\/em><\/p>\n

Index futures gained 15 points following release of the U.S. August Employment Report<\/b> at 8:30 AM EDT. Non-farm Payrolls were expected to increase 170,000 versus a gain of 187,000 in July. Actual was an increase of 187,000 versus a revised gain of 157,000 in July. August Unemployment Rate was expected to remain unchanged from July at 3.5%. Actual was an increase to 3.8%. August Hourly Earnings was expected to increase 0.3% versus a gain of 0.4% in August. Actual was an increase of 0.2%. On a year-over-year basis, August Hourly Earnings were expected to increase 4.4% versus a gain of 4.4% in July. Actual was an increase of 4.3%.<\/em><\/p>\n

The Canadian Dollar was unchanged at US73.97 cents following release of Canada\u2019s June GDP report<\/b> at 8:30 AM EDT. Consensus was a drop of 0.2% versus a gain of 0.5% in May. Actual was a decline of 0.2% versus a downwardly revised drop of 0.2% in May.<\/em><\/p>\n

Lululemon<\/b> advanced $3.39 to $384.65 after reporting higher than consensus second quarter revenues. The company also offered positive guidance. <\/em><\/p>\n

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Broadcom<\/b> dropped $42.38 to $880.51 after offer guidance less than consensus.<\/em> <\/p>\n

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Restaurant Brands International<\/b> (QSR.TO Cdn$93.85) is expected to open higher after announcing a $1 billion share buyback program.<\/em><\/p>\n

\"clip_image003[1]\"<\/a><\/p>\n

Nutanix<\/b> gained $5.00 to $36.10 after reporting higher than consensus fiscal fourth quarter revenues. The company also offered positive sales guidance. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cThe S&P 500 Index has fallen by an average of 0.5% in September in what is considered to be the weakest and most volatile month of the year for stocks<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/08\/31\/stock-market-outlook-for-september-1-2023\/<\/em><\/a><\/p>\n

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

Next Tech Talk Report<\/strong><\/font><\/em><\/p>\n

Next report is released on Tuesday. Monday is the Labour Day holiday in Canada and the U.S.<\/em><\/p>\n

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

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

Dollar General $DG a NASDAQ 100 stock moved below $150.74 extending an intermediate downtrend. The stock responded to lower than consensus quarterly results. <\/p>\n

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Danaher $DHR an S&P 100 company moved above $265.77 extending an intermediate uptrend. <\/p>\n

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Adobe $ADBE a NASDAQ 100 stock moved above $552.94 extending an intermediate uptrend. <\/p>\n

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National Bank $NA.TO a TSX 60 stock moved below $94.21 and $94.12 setting an intermediate downtrend.<\/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 August 31st<\/sup> 2023<\/p>\n

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

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

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

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

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

Daily Seasonal\/Technical Commodities Trends for August 31st<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/b><\/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 August 31st<\/sup> 2023 <\/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

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

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

How to Spot the Early Signs Of A Reversal Using the ADX and DI Lines | Stock Talk (08.31.23)<\/b><\/p>\n

How to Spot the Early Signs Of A Reversal Using the ADX and DI Lines | Stock Talk (08.31.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The Final Bar with David Keller<\/font><\/em>, CMT | Guest TG Watkins<\/font><\/em> | 4pm ET, 1pm PT | August 31, 2023<\/b><\/p>\n

The Final Bar with David Keller, CMT | Guest TG Watkins | 4pm ET, 1pm PT | August 31, 2023 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer slipped 2.80 to 44.80. It remains Neutral.<\/p>\n

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The long term Barometer eased 1.60 to 57.00. It remains Neutral.<\/p>\n

 <\/p>\n

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

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

Intermediate term Barometer dropped 5.73 to 51.98. It remains Neutral.<\/p>\n

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

Long term Barometer slipped 2.20 to 53.74. It remains Neutral.<\/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 1st U.S. equity index futures were higher this morning. S&P 500 futures advanced 29 points at 8:35 AM EDT Index futures gained 15 points following release of the U.S. August Employment Report at 8:30 AM EDT. Non-farm Payrolls were expected to increase 170,000 versus a gain of 187,000 in July. […]<\/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-169271","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169271","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=169271"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169271\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=169271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=169271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=169271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}