{"id":169835,"date":"2023-09-21T02:22:00","date_gmt":"2023-09-21T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=169835"},"modified":"2023-09-21T08:40:45","modified_gmt":"2023-09-21T12:40:45","slug":"tech-talk-for-thursday-september-21st-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/09\/21\/tech-talk-for-thursday-september-21st-2023\/","title":{"rendered":"Tech Talk for Thursday September 21st 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday September 21st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 43 points at 8:35 AM EDT.<\/em><\/p>\n

FedEx<\/b> gained $14.38 to $264.90 following release of higher than consensus first quarter earnings. The company also offered positive guidance. <\/em><\/p>\n

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KB Homes<\/b> slipped $0.81 to $47.25 despite reporting higher than consensus fiscal third quarter earnings. The company also reported less than consensus sales. <\/em><\/p>\n

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Amazon<\/b> dropped $1.99 to $133.30 after Federal Trade Commission sued the company.<\/em><\/p>\n

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FactSet <\/b>dropped $12.36 to $311.41 after reporting less than consensus fiscal fourth quarter earnings. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cGrowth showing signs of relinquishing leadership to Value as the market digests the strength in the Technology sector<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/09\/20\/stock-market-outlook-for-september-21-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

Responses to the FOMC meeting results released at 2:00 PM <\/strong><\/font><\/p>\n

FOMC decided to hold the Fed Fund Rate at 5.25%-5.50% and continued its program to reduce its position in outstanding U.S. debt (i.e. continued Quantitative Tightening). The decision by the 19 voting members was unanimous. Also, 12 of the 19 members considered the possibilities of another increase in the Fed Fund Rate at future meetings. Implication is that the Fed Fund Rate will not come down \u201cany time soon\u201d. <\/p>\n

Broadly base equity indices responded by moving lower.<\/p>\n

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Yield on U.S. Treasuries spiked<\/p>\n

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U.S. Dollar Index moved higher.<\/p>\n

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The Canadian Dollar moved lower.<\/p>\n

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Gold plunged.<\/p>\n

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Ditto for gold stocks and related ETFs<\/p>\n

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Notably weaker sectors include Technology SPDRs, Financial SPDRs and Russell 2000 iShares<\/p>\n

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 <\/p>\n

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

Midcap SPDRs moved below 464.72 setting an intermediate downtrend.<\/p>\n

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Leading weakness in the technology sector was semiconductor ETFs. Semiconductor iShares moved below $476.00 completing a Head & Shoulders pattern.<\/p>\n

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U.S. Medical Devices $IHI moved below support at $50.03 extending an intermediate downtrend.<\/p>\n

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Lithium ETF $LIT moved below $56.15 extending an intermediate downtrend. Responding to lower than expected demand for E-cars!<\/p>\n

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Allstate<\/b> $ALL an S&P 100 stock moved above $113.14 setting an intermediate uptrend. <\/p>\n

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Amgen <\/b>$AMGN an S&P 100 stock moved above $266.58 extending an intermediate uptrend.<\/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 20th<\/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 September 20th<\/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

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

Daily Seasonal\/Technical Sector Trends for September 20th<\/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

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

When to BUY, When to SELL, and When to SIT On Your Hands | The Final Bar (09.19.23)<\/b><\/p>\n

When to BUY, When to SELL, and When to SIT On Your Hands | The Final Bar (09.19.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Aureus’ Kari Firestone reveals her top stock picks ahead of Fed decision<\/b><\/p>\n

Aureus’ Kari Firestone reveals her top stock picks ahead of Fed decision \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

BofA Securities’ Savita Subramanian explains why she’s raising her year-end S&P 500 target to 4,600<\/b><\/p>\n

BofA Securities’ Savita Subramanian explains why she’s raising her year-end S&P 500 target to 4,600 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The S&P 500 can get to 4,825 by year-end, says Piper Sandler’s Craig Johnson<\/b><\/p>\n

The S&P 500 can get to 4,825 by year-end, says Piper Sandler’s Craig Johnson \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

5 Stock Picks In Uncertain Times | Your Daily Five (09.20.23) Mish Schneider<\/b><\/p>\n

5 Stock Picks In Uncertain Times | Your Daily Five (09.20.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 2.20 to 30.30. It remains Oversold. Daily downtrend resumed.<\/p>\n

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The long term Barometer dropped 1.00 to 50.80. It remains Neutral.<\/p>\n

 <\/p>\n

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

\"clip_image023\"<\/a><\/p>\n

The intermediate term Barometer added 1.77 to 46.90. It remains Neutral.<\/p>\n

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The long term Barometer added 2.21 to 49.56. 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 Thursday September 21st U.S. equity index futures were lower this morning. S&P 500 futures were down 43 points at 8:35 AM EDT. FedEx gained $14.38 to $264.90 following release of higher than consensus first quarter earnings. The company also offered positive guidance. KB Homes slipped $0.81 to $47.25 despite reporting higher than […]<\/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-169835","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169835","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=169835"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169835\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=169835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=169835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=169835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}