{"id":169991,"date":"2023-09-26T02:22:00","date_gmt":"2023-09-26T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=169991"},"modified":"2023-09-26T08:42:21","modified_gmt":"2023-09-26T12:42:21","slug":"tech-talk-for-tuesday-september-26th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/09\/26\/tech-talk-for-tuesday-september-26th-2023\/","title":{"rendered":"Tech Talk for Tuesday September 26th 2023"},"content":{"rendered":"

Pre-opening Comments for Tuesday September 26th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 20 points at 8:30 AM EDT.<\/em><\/p>\n

Thor Industries<\/b> dropped $2.12 to $92.70 after reporting lower than consensus fiscal fourth quarter sales.<\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

United Natural Foods<\/b> dropped $2.41 to $16.51 after the company reported a loss in its fiscal fourth quarter.<\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

Ford<\/b> slipped $0.03 to $12.55 after announcing a pause in construction of a $3.5 billion EV battery plant.<\/em><\/p>\n

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

DraftKings<\/b> gained $0.85 to $28.21 after JP Morgan upgraded the stock from Neutral to Overweight. Target was raised its target price from $26 to $37.<\/em><\/p>\n

\"clip_image004[1]\"<\/a><\/p>\n

 <\/p>\n

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

Headline reads \u201cNot one sector of the market has made meaningful upside progress in the past seven quarters and this is telling us something<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/09\/25\/stock-market-outlook-for-september-26-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

NASDAQ Composite Index $COMPQ moved below 13,161.75 completing a Double Top pattern.<\/p>\n

\"clip_image001\"<\/a><\/p>\n

Base Metals iShares XBM.TO moved below Cdn$18.75 setting an intermediate downtrend. <\/p>\n

\"clip_image002\"<\/a><\/p>\n

Consumer Discretionary SPDRs $XLY moved below $160.64 completing a Double Top pattern.<\/p>\n

\"clip_image003\"<\/a><\/p>\n

Notably weaker among Consumer Discretion stocks were the Airlines stocks. The airline ETF $JETS moved below $17.00 extending an intermediate downtrend.<\/p>\n

\"clip_image004\"<\/a><\/p>\n

International ETFs were notably weaker. EAFE iShares moved below $69.31 completing a Head & Shoulders pattern. Italy iShares moved below $30.78 completing a double top pattern. France iShares moved below $35.86 extending an intermediate downtrend. Frontier iShares $FM moved below $26.03 completing a double top pattern. Vietnam ETF moved below intermediate support at $14.10<\/p>\n

\"clip_image005\"<\/a><\/p>\n

\"clip_image006\"<\/a><\/p>\n

\"clip_image007\"<\/a><\/p>\n

\"clip_image008\"<\/a><\/p>\n

\"clip_image009\"<\/a><\/p>\n

20 year + Treasury Bond iShares $TLT moved below $89.27 extending an intermediate downtrend.<\/p>\n

\"clip_image010\"<\/a><\/p>\n

Procter & Gamble $PG a Dow Jones Industrial Average stock moved below $150.93 completing a double top pattern.<\/p>\n

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

Pepsico $PEP an S&P 100 stock moved below $173.48 extending an intermediate downtrend.<\/p>\n

\"clip_image012\"<\/a><\/p>\n

Keurig Dr. Pepper $KDP an S&P 100 stock moved below $32.81 extending an intermediate downtrend.<\/p>\n

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

 <\/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 25th<\/sup> 2023<\/p>\n

\"clip_image015\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/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 25th<\/sup> 2023<\/p>\n

\"clip_image017\"<\/a><\/b><\/p>\n

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 25th<\/sup> 2023 <\/p>\n

\"clip_image019\"<\/a><\/p>\n

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

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

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

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

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

Energy Rises HIGHER in Stagflationary Environment! | The Final Bar (09.25.23)<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=xw2pQWdRrCU<\/a><\/p>\n

 <\/p>\n

Can We Really Trust Fed Chief Powell? | Your Daily Five (09.25.23)<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=j7stbYYBsT4<\/a><\/p>\n

 <\/p>\n

Don’t Forget The MONTHLY CHARTS! Earnings Spotlight | DecisionPoint Trading Room (09.25.23)<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=Vsqm_y4xgEE<\/a><\/p>\n

 <\/p>\n

Fixed Income Continues To Fall, Can’t Say I Didn\u2019t WARN You! Halftime by Chaikin Analytics (9.25.23)<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=wySEd9a4AcY<\/a><\/p>\n

 <\/p>\n

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

\"clip_image020\"<\/a><\/p>\n

The intermediate term Barometer added 2.20 to 21.40. It remains Oversold.<\/p>\n

\"clip_image021\"<\/a><\/p>\n

The long term Barometer added 1.20 to 45.00. It remains Neutral.<\/p>\n

 <\/p>\n

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

\"clip_image022\"<\/a><\/p>\n

The intermediate term Barometer slipped 0.44 to 28.19. It remains Oversold. Daily trend remains down.<\/p>\n

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

The long term Barometer added 0.44 to 40.97. 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 Tuesday September 26th U.S. equity index futures were lower this morning. S&P 500 futures were down 20 points at 8:30 AM EDT. Thor Industries dropped $2.12 to $92.70 after reporting lower than consensus fiscal fourth quarter sales. United Natural Foods dropped $2.41 to $16.51 after the company reported a loss in its […]<\/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-169991","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169991","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=169991"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/169991\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=169991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=169991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=169991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}