{"id":169433,"date":"2023-09-07T02:22:00","date_gmt":"2023-09-07T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=169433"},"modified":"2023-09-07T08:58:38","modified_gmt":"2023-09-07T12:58:38","slug":"tech-talk-for-thursday-september-7th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/09\/07\/tech-talk-for-thursday-september-7th-2023\/","title":{"rendered":"Tech Talk for Thursday September 7th 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday September 7th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 25 points at 8:30 AM EDT.<\/em><\/p>\n

Apple<\/b> dropped $6.79 to $182.91 after the Chinese government prohibited use of iPhones by its employees.<\/em><\/p>\n

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BlackBerry<\/b> dropped $0.44 to US$5.10 after reporting less than consensus fiscal second quarter results. <\/em><\/p>\n

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WestRock<\/b> advanced $3.70 to $35.58 after closing in on a merger with Smurfitkappa. <\/em><\/p>\n

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American Eagle Outfitters<\/b> added $0.35 to 417.74 after reporting a profit in its fiscal second quarter. The company also offered positive guidance.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cShares of Apple are showing sharp rejection from gap resistance between $187 and $190, suggesting the start of a declining trend for the tech titan<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/09\/06\/stock-market-outlook-for-september-7-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

S&P 500 Index moved below its 50 day moving average and tested its 20 day moving average.<\/p>\n

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Vietnam ETF $VNM moved $15.49 extending an intermediate uptrend. <\/p>\n

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KLA $KLAC a NASDAQ 100 stock moved above $515.89 extending an intermediate uptrend.<\/p>\n

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Healthcare SPDRs $XLV moved below $132.07 setting an intermediate downtrend. Healthcare equities that moved below intermediate support included Abbott Labs $ABT, Gilead $GILD and Bristol Myers Squib $BMY<\/p>\n

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Fastenal $FAST a NASDAQ 100 stock moved below $55.96 extending an intermediate downtrend.<\/p>\n

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Enbridge $ENB.TO a TSX 60 stock moved below Cdn$45.71 setting an intermediate downtrend. The company announced acquisition of U.S. utility assets valued at $14 billion that will be financed partially with equity.<\/p>\n

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Canadian National Railway $CNR.TO a TSX 60 stock moved below $150.96 extending an intermediate downtrend. <\/p>\n

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Fortis $FTS.TO a TSX 60 stock moved below $52.42 extending 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 September 6th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for September 6th<\/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 September 6th<\/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

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

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

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

Stocks At A MAJOR Crossroads, This Chart Is The Key | Your Daily Five (09.06.23)<\/b><\/p>\n

Stocks At A MAJOR Crossroads, This Chart Is The Key | Your Daily Five (09.06.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

FORGET Valuations, REMEMBER the Charts! | The Final Bar (09.06.23)<\/b><\/p>\n

FORGET Valuations, REMEMBER the Charts! | The Final Bar (09.06.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

<\/b><\/p>\n

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The intermediate term Barometer dropped 2.60 to 35.40. It remains Oversold. <\/p>\n

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The long term Barometer slipped 0.60 to 52.60. It remains Neutral.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer slipped 1.32 to 51.98. It remains Neutral.<\/p>\n

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The long term Barometer dropped 2.64 to 50.66. It remains Neutal.<\/p>\n

<\/b><\/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 Thursday September 7th U.S. equity index futures were lower this morning. S&P 500 futures were down 25 points at 8:30 AM EDT. Apple dropped $6.79 to $182.91 after the Chinese government prohibited use of iPhones by its employees. BlackBerry dropped $0.44 to US$5.10 after reporting less than consensus fiscal second quarter results. […]<\/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-169433","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169433","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=169433"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169433\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=169433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=169433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=169433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}