{"id":173000,"date":"2024-01-17T02:22:00","date_gmt":"2024-01-17T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173000"},"modified":"2024-01-17T09:00:37","modified_gmt":"2024-01-17T14:00:37","slug":"tech-talk-for-wednesday-january-17th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/01\/17\/tech-talk-for-wednesday-january-17th-2024\/","title":{"rendered":"Tech Talk for Wednesday January 17th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday January 17th<\/sup> 2024<\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 24 points at 8:35 AM EST<\/em><\/p>\n

Index futures slipped 2 points following release of December U.S. Retail Sales at 8:30 AM EST.<\/b> Consensus was an increase of 0.4% versus a gain of 0.3% in November. Actual was an increase of 0.6%.<\/em><\/p>\n

Progress Software<\/b> advanced $2.54 to $56.15 after reporting higher than consensus fourth quarter revenues. <\/em><\/p>\n

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Plexus<\/b> dropped $4.78 to $96.74 after lowering first quarter revenue and earnings guidance. <\/em><\/p>\n

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Interactive Brokers<\/b> dropped $3.19 to $83.99 after reporting less than consensus fourth quarter revenues. <\/em><\/p>\n

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Ford<\/b> dropped $0.19 to $11.27 after UBS downgraded the stock from Buy to Neutral.<\/em><\/p>\n

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 <\/p>\n

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

Chinese technology related ETFs and prominent Chinese equities list on U.S. exchanges were notably weaker:<\/b><\/p>\n

KraneShares China Internet ETF<\/b> $KWEB moved below $24.86 extending an intermediate downtrend. <\/p>\n

China Technology ETF<\/b> $CQQQ moved lower to a 14 month low.<\/p>\n

JD.com<\/b> $JD moved below $24.01 extending an intermediate downtrend. <\/p>\n

Baidu <\/b>$BIDU moved below $103.32 extending an intermediate downtrend.<\/p>\n

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Taiwan iShares<\/b> $EWT moved below $43.40 completing a double top pattern.<\/p>\n

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ConocoPhillips <\/b>$COP an S&P 100 stock moved below $109.98 completing a Head & Shoulders pattern.<\/p>\n

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US Bancorp<\/b> $USB an S&P 100 stock moved below $41.66 completing a double top pattern.<\/p>\n

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FedEx <\/b>$FDX an S&P 100 stock moved below $244.63 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 Jan.16th<\/sup> 2024<\/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 Jan 16th<\/sup> 2024<\/p>\n

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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 Jan.16th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

Links offered by Valued Providers<\/strong><\/font><\/p>\n

Should You Be Worried About a Recession? Tom Bowley<\/b><\/p>\n

Note comment on the Technology sector.<\/em><\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=51HwQbHNSm8<\/a><\/p>\n

 <\/p>\n

The Most Important Chart in the Market | MRKT Call Stock Trading Live Stream<\/b><\/p>\n

China in focus.<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=6tkda_-9Fqg<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 4.40 to 79.60. It remains Overbought. Daily downtrend has been established.<\/p>\n

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The long term Barometer dropped 2.40 to 73.20. It remains Overbought. Daily downtrend has been established. <\/p>\n

 <\/p>\n

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

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

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

The intermediate term Barometer dropped 5.33 to 72.00. It remains Overbought. Daily data shows early signs of a peak.<\/p>\n

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The long term Barometer dropped 3.56 to 61.33. It remains Overbought. Daily data shows early signs of a peak. <\/p>\n

 <\/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 Wednesday January 17th 2024 U.S. equity index futures were lower this morning. S&P 500 futures were down 24 points at 8:35 AM EST Index futures slipped 2 points following release of December U.S. Retail Sales at 8:30 AM EST. Consensus was an increase of 0.4% versus a gain of 0.3% in November. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-173000","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173000","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=173000"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173000\/revisions"}],"predecessor-version":[{"id":173010,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173000\/revisions\/173010"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}