{"id":179951,"date":"2024-09-18T02:22:00","date_gmt":"2024-09-18T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=179951"},"modified":"2024-09-18T08:50:34","modified_gmt":"2024-09-18T12:50:34","slug":"tech-talk-for-wednesday-september-18th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/09\/18\/tech-talk-for-wednesday-september-18th-2024\/","title":{"rendered":"Tech Talk for Wednesday September 18th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday September 18th<\/sup><\/strong><\/font><\/em><\/p>\n

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

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 7 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures added 2 points following release of the August Housing Starts report at 8:30 AM EDT.<\/b> Consensus was an increase to 1.250 million units from 1.238 million units in July. Actual was 1.356 million units.<\/em><\/p>\n

Microsoft <\/b>added $2.08 to $437.23 and Blackrock<\/b> advanced $0.61 to $905.13 after announcing a joint plan for a $30 billion Artificial Intelligence infrastructure fund. <\/em><\/p>\n

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Intuitive Machines<\/b> added $2.90 to $8.30 after announcing another contract with NASA<\/em><\/p>\n

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General Mills<\/b> dropped $0.98 to $73.52 after announcing a 14% drop in first quarter earnings. <\/em><\/p>\n

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EquityClock\u2019s Stock Market Outlook for September 18th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

The more discerning consumer mentality has been observed injecting product into inventories in one of the most significant ways on record. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/09\/17\/stock-market-outlook-for-september-18-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

S&P 500 Index<\/b> moved above 5,669.67 to an all-time high and S&P 500 SPDRs<\/b> $SPY moved above $565.16 to an all-time high extending an intermediate uptrend.<\/p>\n

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Home Builders SPDRs<\/b> $XHB moved above $121.22 to an all-time high extending an intermediate uptrend.<\/p>\n

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Global Lumber and Forest Product iShares<\/b> $WOOD moved above $83.71 and $83.97 extending an intermediate uptrend.<\/p>\n

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Selected Canadian forest product stocks<\/b> that broke resistance setting intermediate uptrends included Canfor, Interfor and West Fraser Timber.<\/p>\n

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S&P\/TSX Information Technology iShares<\/b> $XIT.TO moved above Cdn$56.46 extending an intermediate uptrend.<\/p>\n

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Hong Kong iShares<\/b> $EWH moved above $16.23 extending an intermediate uptrend. <\/p>\n

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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 September 17th<\/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 September 17th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for September 17th<\/sup> 2024<\/p>\n

\"clip_image014\"<\/a> 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

FOMC and VIX Expiry | Profit Pilot<\/b><\/p>\n

FOMC and VIX Expiry | Profit Pilot \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Times Have Changed In Markets…<\/b><\/p>\n

Times Have Changed In Markets… \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The odds of a hard landing are low: Bank of America<\/b> Economist<\/b><\/p>\n

The odds of a hard landing are low: Economist \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

CHART THIS with David Keller, CMT Tuesday 9\/17\/24<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=7SifcFlL5eE<\/a><\/p>\n

 <\/p>\n

Chart of the Day: China Large Cap ETF (FXI)<\/strong><\/font><\/p>\n

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

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The intermediate term Barometer added 1.40 to 76.80. It remains Overbought. Daily trend is up.<\/p>\n

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The long term Barometer added 2.00 to 76.60. It remains Overbought. Daily trend is up.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 0.88 to 71.24. It remains Overbought. Daily trend remains up.<\/p>\n

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The long term Barometer added 2.21 to 74.78. It remains Overbought. Daily trend remains up.<\/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 September 18th U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:35 AM EDT. S&P 500 futures added 2 points following release of the August Housing Starts report at 8:30 AM EDT. Consensus was an increase to 1.250 million units from 1.238 million units […]<\/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-179951","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179951","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=179951"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179951\/revisions"}],"predecessor-version":[{"id":179961,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/179951\/revisions\/179961"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=179951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=179951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=179951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}