{"id":179586,"date":"2024-09-05T02:22:00","date_gmt":"2024-09-05T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=179586"},"modified":"2024-09-05T08:43:10","modified_gmt":"2024-09-05T12:43:10","slug":"tech-talk-for-thursday-september-5th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/09\/05\/tech-talk-for-thursday-september-5th-2024\/","title":{"rendered":"Tech Talk for Thursday September 5th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday<\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 6 points at 8:35 AM EDT<\/em><\/p>\n

Hewlett Packard Enterprises<\/b> dropped $0.78 to $17.99 after reporting less than consensus third quarter earnings. <\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Verint Systems<\/b> dropped $4.07 to $25.80 after reporting less than consensus quarterly results. <\/em><\/p>\n

\"clip_image002[5]\"<\/a><\/p>\n

JetBlue<\/b> added $0.19 to $5.22 after raising third quarter guidance.<\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

Verizon<\/b> gained $0.49 to $41.97 after announcing purchase of Frontier Communications for $20 billion.<\/em><\/p>\n

\"clip_image004[5]\"<\/a><\/p>\n

 <\/p>\n

EquityClock\u2019s stock market outlook for Thursday<\/strong><\/font><\/em><\/p>\n

 <\/p>\n

The yield curve is normalizing with the 10-year treasury yield moving back above the 2-year, typically a coincident indication of the start of an economic recession and corresponding downfall of stocks. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/09\/04\/stock-market-outlook-for-september-5-2024\/<\/em><\/a><\/p>\n

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

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

BMO Equal Weight Canadian Banks ETF<\/b> $ZEB.TO moved above Cdn$38.20 to an all-time high extending an intermediate uptrend. Helped by strength in Bank of Scotia $BNS.TO on a move above Cdn$68.16 to a two year high.<\/p>\n

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

\"clip_image002\"<\/a><\/p>\n

U.S. Crude Oil ETN<\/b> $USO moved below $70.44 setting an intermediate downtrend. <\/p>\n

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

Duke Energy<\/b> $DUK an S&P 100 stock moved above $115.60 to an all-time high extending an intermediate uptrend.<\/p>\n

\"clip_image004\"<\/a><\/p>\n

Mondelez<\/b> $MDLZ an S&P 100 stock moved above $73.41 resuming an intermediate uptrend.<\/p>\n

\"clip_image005\"<\/a><\/p>\n

Synopsys <\/b>$SNPS a NASDAQ 100 stock moved below $474.57 extending an intermediate downtrend.<\/p>\n

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

US Steel<\/b> plunged below $34.64 following news that the Biden administration opposes its takeover by Nippon Steel.<\/p>\n

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

BCE <\/b>$BCE.TO a TSX 60 stock moved above Cdn$48.44 extending an intermediate uptrend.<\/p>\n

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

 <\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Equity Trends for September 4th<\/sup> 2024<\/p>\n

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

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 4th<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

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

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

Daily Seasonal\/Technical Sector Trends for September 4th<\/sup> 2024<\/p>\n

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

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

Stocks Selloff to Start September; Guy Adami and Dan Nathan<\/b><\/p>\n

Stocks Selloff to Start September \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Is the S&P 500 Breakdown Seasonal or a Sign of Deeper Market Troubles? Schwab<\/b><\/p>\n

Is the S&P 500 Breakdown Seasonal or a Sign of Deeper Market Troubles? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

September presents a busy month for investors: Yahoo Finance<\/b><\/p>\n

September presents a busy month for investors \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Canadian Debt to Weigh on Economy for Years: David Rosenberg<\/b><\/p>\n

Canadian Debt to Weigh on Economy for Years: David Rosenberg \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 1.20 to 70.60<\/p>\n

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

The long term Barometer dropped 1.80 to 73.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 1.77 to 50.00.It remains Neutral.<\/p>\n

\"clip_image020\"<\/a><\/p>\n

The long term Barometer added 1.33 to 69.03. It remains Overbought.<\/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 U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points at 8:35 AM EDT Hewlett Packard Enterprises dropped $0.78 to $17.99 after reporting less than consensus third quarter earnings. Verint Systems dropped $4.07 to $25.80 after reporting less than consensus quarterly results. JetBlue added $0.19 to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-179586","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179586","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=179586"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179586\/revisions"}],"predecessor-version":[{"id":179596,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179586\/revisions\/179596"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=179586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=179586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=179586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}