{"id":179747,"date":"2024-09-11T02:22:00","date_gmt":"2024-09-11T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=179747"},"modified":"2024-09-11T09:02:27","modified_gmt":"2024-09-11T13:02:27","slug":"tech-talk-for-wednesday-september-11th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/09\/11\/tech-talk-for-wednesday-september-11th-2024\/","title":{"rendered":"Tech Talk for Wednesday September 11th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday September 11th<\/sup><\/strong><\/font><\/em><\/p>\n

<\/font><\/sup><\/em><\/strong><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 27 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures dropped 21 points following release of the U.S. August Consumer Price Index at 8:30 AM EDT.<\/b> Consensus was an increase of 0.2% versus a gain of 0.2% in July. Actual was a 0.2% increase. On a year-over-year basis, August CPI was expected to increase 2.6% versus a gain of 2.9% in July. Actual was a 2.5% increase. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.2% in July. Actual was a 0.3% increase. On a year-over-year basis, consensus for core CPI was an increase of 3.2% versus a gain of 3.2% in July. Actual was a 3.2% increase.<\/em><\/p>\n

WTI Crude oil<\/b> added $1.64 to $67.39 per barrel as Hurricane Francine strengthens.in the Gulf.<\/em><\/p>\n

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Dave & <\/b><\/em>Busters<\/b> added $3.80 to $33.66 after reporting higher than consensus second quarter revenues and earnings.<\/em><\/p>\n

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Gamestop <\/b>dropped $2.26 to $21.20 after reporting less than consensus second quarter revenues.<\/em> <\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Comment for September 11th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Investors have become less enthusiastic about stocks, causing a pullback\/alleviation of the the extreme bullishness that had built up earlier this year. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/09\/10\/stock-market-outlook-for-september-11-2024\/<\/em><\/a><\/p>\n

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

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

Energy SPDRs<\/b> $XLE moved below $85.47 extending an intermediate downtrend.<\/p>\n

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Oil & Gas Exploration SPDRs<\/b> $XOP moved below $127.75 extending an intermediate downtrend. First Trust Natural Gas ETF<\/b> $FCG moved below $23.02 extending an intermediate downtrend.<\/p>\n

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Global Metals iShares<\/b> $PICK moved below $36.11 extending an intermediate downtrend. <\/p>\n

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Solar ETF<\/b> $TAN moved below $37.42 to a 4 year low extending an intermediate downtrend.<\/p>\n

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Mexico iShares<\/b> $EWW moved below $50.84 extending an intermediate downtrend.<\/p>\n

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Oracle $ORCL<\/b> an S&P 100 stock moved above $146.59 to an all-time high extending an intermediate uptrend. The company reported blow out fiscal first quarter results.<\/p>\n

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Canadian Natural Resources<\/b> $CNQ.TO a TSX 60 stock moved below Cdn$44.78 extending an intermediate downtrend.<\/p>\n

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Nutrien <\/b>$NTR.TO a TSX 60 stock moved below Cdn$61.75 to a 3 year low extending an intermediate downtrend.<\/p>\n

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 <\/p>\n

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

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 <\/p>\n

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

Daily Seasonal\/Technical Equity Trends for September 10th<\/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

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

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

Daily Seasonal\/Technical Commodities Trends for September 10th<\/sup> 2024<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for September 10th<\/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

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

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

Barr’s new capital requirements for banks is ‘a bit more’ than expected, says Wells Fargo’s Mayo<\/b><\/p>\n

Barr’s new capital requirements for banks is ‘a bit more’ than expected, says Wells Fargo’s Mayo \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

No recession in sight despite weakening labor market: iCapital’s Anastasia Amoroso<\/b><\/p>\n

No recession in sight despite weakening labor market: iCapital’s Anastasia Amoroso \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Seasonal weakness is a buying opportunity, says BofA’s Stephen Suttmeier<\/b><\/p>\n

Seasonal weakness is a buying opportunity, says BofA’s Stephen Suttmeier \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Why Stock Outperformance Might be ENDING!: Julius dekempenaer<\/b><\/p>\n

Why Stock Outperformance Might be ENDING! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

What The S&P 500 Chart Is Telling Us: Guy Adami and Carter Worth<\/b><\/p>\n

What The S&P 500 Chart Is Telling Us \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 1.20 to 64.60. It remains Overbought.<\/p>\n

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The long term Barometer slipped 0.60 to 70.80. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 2.65 to 50.00. It remains Neutral.<\/p>\n

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The long term Barometer added 1.77 to 64.60. It remains Overbought.<\/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 September 11th U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points at 8:35 AM EDT. S&P 500 futures dropped 21 points following release of the U.S. August Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.2% […]<\/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-179747","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179747","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=179747"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179747\/revisions"}],"predecessor-version":[{"id":179755,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179747\/revisions\/179755"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=179747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=179747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=179747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}