{"id":173094,"date":"2024-01-19T02:22:00","date_gmt":"2024-01-19T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173094"},"modified":"2024-01-19T08:42:17","modified_gmt":"2024-01-19T13:42:17","slug":"tech-talk-for-friday-january-19th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/01\/19\/tech-talk-for-friday-january-19th-2024\/","title":{"rendered":"Tech Talk for Friday January 19th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday January 19th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 26 points at 8:35 AM EST.<\/em><\/p>\n

The Canadian Dollar<\/b> slipped 0.05 at U.S.74.22 cents following release of Canada\u2019s November Retail Sales at 8:30 AM EST. Consensus was unchanged versus a downwardly revised gain of 0.5% in October. Actual was a decline of 0.2%.<\/em><\/p>\n

PPG Industries<\/b> dropped $1.00 to $143.95 after projecting lower than consensus first quarter earnings. <\/em><\/p>\n

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Schlumberger<\/b> added $0.32 to $48.88 after reporting higher than consensus fourth quarter revenues. The company also raised its dividend by 10%.<\/em><\/p>\n

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Travelers <\/b>gained $10.54 to $208.89 after reporting higher than consensus fourth quarter earnings. <\/em><\/p>\n

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Texas Instruments<\/b> gained $3.90 to $170.81 after UBS upgraded the stock from Neutral to Buy. Target price was raised from $170 to $195. <\/em><\/p>\n

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 <\/p>\n

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

NASDAQ 100 Index<\/b> closed above 16,969.17 at an all-time high and its related ETF: QQQ closed above $412.92 at an all-time high.<\/p>\n

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Technology SPDRs<\/b> $XLK moved above $193.72 to an all-time high. Related Semiconductor ETF<\/b> $SMH moved above $176.75 to an all-time high.<\/p>\n

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Trigger for strength in the Technology sector was a move by Taiwan Semiconductor<\/b> $TSM above $115.52 extending its intermediate uptrend. Leading the U.S. Technology sector was Advanced Micro Devices<\/b> $AMD on a move above $164.46 to an all-time high.<\/p>\n

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S&P Exploration and Development SPDRs<\/b> $XOP moved below $127.36 extending an intermediate downtrend. First Trust Natural Gas ETF<\/b> $FCG moved below $22.68 extending an intermediate downtrend.<\/p>\n

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Chevron <\/b>$CVX a Dow Jones Industrial Average stock moved below $140.26 extending an intermediate downtrend.<\/p>\n

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Southern Companies<\/b> $SO an S&P 100 stock moved below $68.71 completing a double top pattern.<\/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.18th<\/sup> 2024<\/p>\n

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

Red: Decrease from previous day<\/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 18th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/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 Jan.18th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

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

Top Picks by Hap Sneddon on BNN Bloomberg<\/b><\/p>\n

https:\/\/www.bnnbloomberg.ca\/market-call<\/a><\/p>\n

 <\/p>\n

How To Build A Strong ETF Portfolio: Tom Bowley<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=2_6GOqAQ3P8<\/a><\/p>\n

 <\/p>\n

Biggest Mistake Traders Make: Joe Rabil<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=v6fzG-2ccBc<\/a><\/p>\n

 <\/p>\n

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

Strategist Who Called 2023 Stock Market Rally Gives 2024 Outlook | On The Tape Investing Podcast<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=3KxpPGSmr54<\/a><\/p>\n

 <\/p>\n

Semi Stocks Soar + Carter Charts Disney<\/b><\/p>\n

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

 <\/p>\n

Larry Tentarelli’s Top 5 Charts<\/b><\/p>\n

Larry Tentarelli’s Top 5 Charts \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 0.60 to 73.20. It remains Overbought.<\/p>\n

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The long term Barometer added 0.60 to 70.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped another 1.78 to 63.11. It remains Overbought. Daily trend is down.<\/p>\n

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The long term Barometer dropped 0.89 to 54.67. It remains Neutral. Daily trend is down.<\/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 Friday January 19th U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points at 8:35 AM EST. The Canadian Dollar slipped 0.05 at U.S.74.22 cents following release of Canada\u2019s November Retail Sales at 8:30 AM EST. Consensus was unchanged versus a downwardly revised gain of 0.5% in […]<\/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-173094","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173094","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=173094"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173094\/revisions"}],"predecessor-version":[{"id":173104,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173094\/revisions\/173104"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}