{"id":170047,"date":"2023-09-27T02:22:00","date_gmt":"2023-09-27T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=170047"},"modified":"2023-09-27T08:49:20","modified_gmt":"2023-09-27T12:49:20","slug":"tech-talk-for-wednesday-september-27th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/09\/27\/tech-talk-for-wednesday-september-27th-2023\/","title":{"rendered":"Tech Talk for Wednesday September 27th 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday September 27th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 16 points at 8:35 AM EDT.<\/em><\/p>\n

Index futures added 3 points following release of August Durable Goods Orders<\/b> at 8:30 AM EDT<\/b>. Consensus was a 0.5% versus a drop of 5.2% in July. Actual was an increase of 0.2%.<\/em><\/p>\n

Costco<\/b> slipped $8.46 to $544.50 despite reporting higher than consensus fiscal fourth quarter revenues and earnings. <\/em><\/p>\n

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Cleveland Cliffs<\/b> added $0.10 to $14.80 after announcing price hikes for selected steel products.<\/em><\/p>\n

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Nuvalent gained $0.17 to $42.25<\/b> after Stifel Nicolaus, Wedbush and JP Morgan initiated coverage with buy ratings. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cThe change in home prices across the country has become bifurcated as some regions battle greater cost of living burdens than others<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/09\/26\/stock-market-outlook-for-september-27-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Technology SPDRs $XLK moved below $162.59 extending an intermediate downtrend.<\/p>\n

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Weakness in the technology sector was triggered by intermediate technical breakdowns by the three largest companies in the sector: Apple moved below $171.96 completing a double top pattern. Amazon moved below $126.11 setting an intermediate downtrend. Microsoft moved below $311.55 extending an intermediate downtrend.<\/p>\n

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Financials SPDRs XLF moved below $33.42 completing a double top pattern. <\/p>\n

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South Korea iShares $EWY moved below $60.24 extending an intermediate downtrend. <\/p>\n

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Junior Gold ETF $GDXJ moved below $32.98 extending an intermediate downtrend. <\/p>\n

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Copper Miners ETF $COPX moved below $35.48 setting an intermediate downtrend. <\/p>\n

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TSX Capped REIT iShares $XRE.TO moved below Cdn$15.10 extending an intermediate downtrend. <\/p>\n

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S&P 100 stocks moving below support setting intermediate downtrends included General Electric, Comcast, Philip Morris International and Texas Instruments<\/p>\n

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NASDAQ 100 stocks moving below intermediate support extending a downtrend included Adobe, Applied Materials and O\u2019Reilly Automotive.<\/p>\n

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TSX 60 stocks moving below support setting an intermediate downtrend included<\/p>\n

Royal Bank on a move below Cdn$118.87, National Bank on a move below Cdn$89.88 and Cdn$89.94, Canadian Pacific on a move below Cdn$100.56 and Franco Nevada on a move below US$133.83.<\/p>\n

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 <\/p>\n

Special Report: Seasonality of VIX Index<\/strong><\/font><\/p>\n

The VIX Index has s history of moving higher from mid-September to mid-October<\/p>\n

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The Index is closely following its historic pattern this year.<\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

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Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for September 26th<\/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

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 26th<\/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

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

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

Daily Seasonal\/Technical Sector Trends for September 26th<\/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

Pro-Nuclear Sentiment Ignites Uranium Opportunities<\/b><\/p>\n

Special Report: Pro-Nuclear Sentiment Ignites Uranium Opportunities (sprottetfs.com)<\/a><\/p>\n

 <\/p>\n

S&P Tests MAJOR Support | Tom Bowley | Trading Places (09.26.23)<\/b><\/p>\n

S&P Tests MAJOR Support | Tom Bowley | Trading Places (09.26.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Sector Rotation Sends Mixed Signals | Sector Spotlight (09.26.23)<\/b><\/p>\n

Sector Rotation Sends Mixed Signals | Sector Spotlight (09.26.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Sector Rotation Sends Mixed Signals | Sector Spotlight (09.26.23) Jim Grant<\/b><\/p>\n

Jim Grant: Interest rates ought to be discovered in the market, rather than imposed or suppressed \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 6.60 to 14.80. It remains Oversold. Daily downtrend was extended.<\/p>\n

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The long term Barometer dropped 5.20 to 39.80. It changed from Neutral to Oversold on a drop below 40.00. Daily downtrend was extended.<\/p>\n

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

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The intermediate term Barometer dropped 6.61 to 21.59. It remains Oversold. Daily downtrend was extended.<\/p>\n

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The long term Barometer dropped 4.85 to 36.12. It changed from Neutral to Oversold on a drop below 40.00. Daily downtrend was extended. <\/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 Wednesday September 27th U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points at 8:35 AM EDT. Index futures added 3 points following release of August Durable Goods Orders at 8:30 AM EDT. Consensus was a 0.5% versus a drop of 5.2% in July. Actual was an […]<\/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-170047","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170047","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=170047"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170047\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=170047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=170047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=170047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}