{"id":170321,"date":"2023-10-05T02:22:00","date_gmt":"2023-10-05T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=170321"},"modified":"2023-10-05T08:46:47","modified_gmt":"2023-10-05T12:46:47","slug":"tech-talk-for-thursday-october-5th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/10\/05\/tech-talk-for-thursday-october-5th-2023\/","title":{"rendered":"Tech Talk for Thursday October 5th 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday October 5th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 12 points at 8:35 AM EDT.<\/em><\/p>\n

Index futures dropped 8 points following release of the U.S. August Trade Report at 8:30 AM EDT<\/b>. Consensus was a deficit of $65.10 billion versus a deficit of $65.00 billion in July. Actual was a deficit of $58.3 billion.<\/em><\/p>\n

Colgate <\/b>dropped $6.01 to $125.82 after the company warned that a cyberattack will impact fiscal first quarter revenues and earnings.<\/em><\/p>\n

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

Rivian Automotive<\/b> dropped $1.64 to $22.05 after the company announced plans to offer a $1.5 billion convertible note.<\/em><\/p>\n

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

BlackBerry<\/b> added $0.20 to US$4.47 after the company announced plans for an IPO on its IoT business.<\/em><\/p>\n

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Merck<\/b> gained $0.24 to $102.41 after the company reported positive results on a treatment for bladder cancer.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cA sharp downfall of gasoline demand emphasizes how discerning consumers have become amidst growing adversities<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/10\/04\/stock-market-outlook-for-october-5-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

South Africa iShares<\/b> $EZA moved below $36.02 extending an intermediate downtrend.<\/p>\n

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Oil Services ETF<\/b> $OIH moved below intermediate support at $325.86<\/p>\n

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Global Base Metals iShares <\/b>$XBM.TO moved below $17.87 extending an intermediate downtrend. Base Metals iShares<\/b> $PICK moved below $38.25 setting an intermediate downtrend.<\/p>\n

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U.S. Telecommunications iShares<\/b> $IYZ moved below $20.69 extending an intermediate downtrend.<\/p>\n

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Fox Corp<\/b> $FOXA an S&P 100 stock moved below $36.02 extending an intermediate downtrend.<\/p>\n

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Pembina Pipelines<\/b> $PPL.TO a TSX 60 stock moved below Cdn$39.07 extending an intermediate downtrend.<\/p>\n

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

Toronto Dominion Bank<\/b> $TD.TO a TSX 60 stock moved below intermediate support at Cdn$78.76.<\/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 Oct.4th<\/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 October 4th<\/sup> 2023<\/p>\n

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

Green: Increase from previous day<\/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 October 4th<\/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

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

How Market Breadth Indicators Can Lead You Out of Market Bottoms | The Final Bar (10.04.23)<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=7Xja9sUdIoY<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 2.60 to 11.20. It remains Oversold. <\/p>\n

\"clip_image016\"<\/a><\/p>\n

The long term Barometer added 1.20 to 37.40. It remains Oversold. <\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 3.96 to 11.89. It remains Oversold. Daily downtrend was extended.<\/p>\n

\"clip_image018\"<\/a><\/p>\n

The long term Barometer added 0.88 to 29.07. It remains Oversold. <\/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 October 5th U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points at 8:35 AM EDT. Index futures dropped 8 points following release of the U.S. August Trade Report at 8:30 AM EDT. Consensus was a deficit of $65.10 billion versus a deficit of $65.00 billion […]<\/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-170321","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170321","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=170321"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170321\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=170321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=170321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=170321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}