{"id":173212,"date":"2024-01-24T02:22:00","date_gmt":"2024-01-24T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173212"},"modified":"2024-01-24T08:39:41","modified_gmt":"2024-01-24T13:39:41","slug":"tech-talk-for-wednesday-january-24th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/01\/24\/tech-talk-for-wednesday-january-24th-2024\/","title":{"rendered":"Tech Talk for Wednesday January 24th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday January 24th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 29 points at 8:30 AM EST.<\/em><\/p>\n

Bank of Canada\u2019s monetary statement<\/b> is scheduled for released at 9:45 AM EST. The Bank\u2019s lending rate to major Canadian banks is expected to remain unchanged at 5.0%.<\/em><\/p>\n

Netflix gained $18.90 to $510.00<\/b> after increasing subscriptions in the fourth quarter greater than consensus. The company also offered positive first quarter guidance.<\/em><\/p>\n

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

Texas Instruments<\/b> dropped $5.84 to $168.50 after offering first quarter guidance below consensus. <\/em><\/p>\n

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

Steel Dynamics<\/b> dropped $0.88 to $115.26 after reporting lower fourth quarter earnings and revenues. <\/em><\/p>\n

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

Intuitive Surgical<\/b> added $21.43 to $392.84 after reporting higher than consensus fourth quarter revenues and earnings. <\/em><\/p>\n

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

 <\/p>\n

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

Colgate Palmolive<\/b> $CL an S&P 100 stock moved above $81.00 to an all-time high extending an intermediate uptrend. <\/p>\n

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

PACCAR<\/b> $PCAR a NASDAQ 100 stock moved above $98.20 to an all-time high extending an intermediate uptrend. <\/p>\n

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Lockheed Martin<\/b> $LMT an S&P 100 stock moved below $438.71 and $436.56 setting an intermediate downtrend. <\/p>\n

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

Canadian Tire<\/b> $CTC.A.TO a TSX 60 stock moved above Cdn$147.29 completing a double bottom pattern. <\/p>\n

\"clip_image004\"<\/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 Jan.23rd<\/sup> 2024<\/p>\n

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

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 23rd<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for Jan.23rd<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

Next Canadian Association for Technical Analysis Meeting<\/strong><\/font><\/p>\n

The next Zoom presentation is offered tomorrow (Thursday) at 8:00 PM. Presenter is Mark Kelly. Everyone is welcome. Registration is recommended. Not a member of CATA?<\/p>\n

See CATA Meeting – Jan 25 – Mark Kelly – Events – Canadian Association for Technical Analysis (clubexpress.com)<\/a><\/p>\n

 <\/p>\n

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

US Stocks Once Again Lead the World<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=10FccrgDqiU&t=51s<\/a><\/p>\n

 <\/p>\n

Uncover the Best Small Cap Opportunities: Joe Rabil<\/b><\/p>\n

Uncover the Best Small Cap Opportunities \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Is A Market Sell-Off Coming Soon? Guy Adami<\/b><\/p>\n

Is A Market Sell-Off Coming Soon? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Market Update: Futures Mixed, What’s Next? Tom Bowley<\/b><\/p>\n

Market Update: Futures Mixed, What’s Next? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 1.80 to 77.80. It remains Overbought<\/p>\n

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

The long term Barometer slipped 0.40 to 71.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 4.00 to 68.44. It remains Overbought.<\/p>\n

\"clip_image014\"<\/a><\/p>\n

The long term Barometer added 2.67 to 61.78. It changed from Neutral to Overbought on a move above 60.00.<\/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 January 24th U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points at 8:30 AM EST. Bank of Canada\u2019s monetary statement is scheduled for released at 9:45 AM EST. The Bank\u2019s lending rate to major Canadian banks is expected to remain unchanged at 5.0%. Netflix gained […]<\/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-173212","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173212","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=173212"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173212\/revisions"}],"predecessor-version":[{"id":173222,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173212\/revisions\/173222"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}