{"id":169470,"date":"2023-09-08T02:22:00","date_gmt":"2023-09-08T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=169470"},"modified":"2023-09-08T08:48:03","modified_gmt":"2023-09-08T12:48:03","slug":"tech-talk-for-friday-september-8th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/09\/08\/tech-talk-for-friday-september-8th-2023\/","title":{"rendered":"Tech Talk for Friday September 8th 2023"},"content":{"rendered":"

Pre-opening Comments for Friday September 8th<\/sup><\/strong><\/font><\/em><\/p>\n

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

The Canadian Dollar added 0.13 to 73.46 following release of Canada\u2019s August Employment Report at 8:30 AM EDT<\/b>. Consensus was an increase in employment of 20,000 versus a decline of 6,400 in July. Actual was an increase of 39,900. Consensus was an increase in the Unemployment Rate to 5.6% from 5.5% in July. Actual was unchanged at 5.5%.<\/em><\/p>\n

DocuSign<\/b> gained $1.88 to $54.01 after reporting higher than consensus second quarter earnings. The company offered positive guidance and announced a $300 million share buyback program.<\/em><\/p>\n

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Smith & Wesson<\/b> added $0.99 to $11.50 after reporting higher than consensus fiscal first quarter sales. <\/em><\/p>\n

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Adobe<\/b> gained $10.44 to $570.90 after Mizuho upgraded the stock from Neutral to Buy.<\/em><\/p>\n

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Zumiez dropped $1.61 to $17.07 after reporting less than consensus second quarter results.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cThe change of Continued Claims this year is showing a path that has only ever been seen during recessionary periods over the past five decades<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/09\/07\/stock-market-outlook-for-september-8-2023\/<\/em><\/a><\/p>\n

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

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

Eurozone iShares $EZU moved below $43.59 completing a Head & Shoulders pattern.<\/p>\n

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Solar ETF $TAN moved below $55.54 extending an intermediate downtrend.<\/p>\n

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Chile iShares $ECH moved below $27.11 extending an intermediate downtrend. Units responded to lower copper prices. <\/p>\n

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Water Resources ETF $PHO moved below $55.12 completing a double top pattern. <\/p>\n

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Trip.com $TCOM a NASDAQ 100 stock moved below $36.82 completing a double top pattern.<\/p>\n

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Align $ALGN a NASDAQ 100 stock moved below $342.00 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 September 7th<\/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 7th<\/sup> 2023<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for September 7th<\/sup> 2023 <\/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

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

Worst Period During The Calendar Year For The S&P 500 | Trading Places (09.07.23)<\/b><\/p>\n

Worst Period During The Calendar Year For The S&P 500 | Trading Places (09.07.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

How to Identify Great Trade Opportunities Using The MACD Zero Line | Stock Talk (09.07.23)<\/b><\/p>\n

How to Identify Great Trade Opportunities Using The MACD Zero Line | Stock Talk (09.07.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Tech is an overvalued trade that needs to correct, says RBC’s Lori Calvasina<\/font><\/em><\/b><\/p>\n

Tech is an overvalued trade that needs to correct, says RBC’s Lori Calvasina \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

XOP’s Strength vs. the S&P’s Weakness | GoNoGo Charts (09.07.23)<\/b><\/p>\n

XOP’s Strength vs. the S&P’s Weakness | GoNoGo Charts (09.07.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The Final Bar with David Keller<\/font><\/em>, CMT | Guest Willie Delwiche<\/font><\/em> | 4pm ET, 1pm PT | Sept. 7th, 2023<\/b><\/p>\n

The Final Bar with David Keller, CMT | Guest Willie Delwiche | 4pm ET, 1pm PT | Sept. 7th, 2023 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer slipped another 0.40 to 35.00. It remains Oversold.<\/p>\n

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The long term Barometer dropped 2.00 to 50.60. It remains Neutral.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 5.29 to 46.70. It remains Neutral.<\/p>\n

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The long term Barometer dropped 2.20 to 48.46. It remains Neutral.<\/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 Friday September 8th U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EDT The Canadian Dollar added 0.13 to 73.46 following release of Canada\u2019s August Employment Report at 8:30 AM EDT. Consensus was an increase in employment of 20,000 versus a decline of 6,400 in […]<\/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-169470","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169470","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=169470"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169470\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=169470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=169470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=169470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}