{"id":180023,"date":"2024-09-20T02:22:00","date_gmt":"2024-09-20T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=180023"},"modified":"2024-09-20T08:52:21","modified_gmt":"2024-09-20T12:52:21","slug":"tech-talk-for-friday-september-20th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/09\/20\/tech-talk-for-friday-september-20th-2024\/","title":{"rendered":"Tech Talk for Friday September 20th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday September 20th<\/sup><\/strong><\/font><\/em><\/p>\n

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

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

Today is \u201ctriple witching day\u201d<\/b> when volumes on North American exchanges are well above average. <\/em><\/p>\n

The Canadian Dollar<\/b> was unchanged at US73.79 cents following release of Canada\u2019s July Retail Sales report at 8:30 AM EDT. Consensus was a 0.6% increase versus a gain of 0.3% in June. Actual was a 0.9% increase.<\/em><\/p>\n

Nike<\/b> gained $8.04 to $89.06 after the company announced a new Chief Executive Officer. <\/em><\/p>\n

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

FedEx <\/b>dropped $29.02 to $271.40 after reporting less than consensus fiscal first quarter revenues and earnings. The company also lowered guidance for remainder of the year.<\/em><\/p>\n

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MillerKnoll <\/b>dropped $1.48 to $25.99 after reporting less than consensus fiscal first quarter results. <\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s stock market outlook for September 20th<\/sup><\/strong><\/font><\/em><\/p>\n

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

While we are not observing the weakness that is typical for stocks at this time of year, normal mean reversion is certainly taking hold, resulting in near-term reversals of prevailing trends. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/09\/19\/stock-market-outlook-for-september-20-2024\/<\/em><\/a><\/p>\n

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

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

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

Eurozone iShares<\/b> $EZU moved above $51.76 to an all-time high extending an intermediate uptrend. <\/p>\n

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Dow Jones Transportation Average <\/b>$TRAN moved above 16,334.96 and its related iShares<\/b> $IYT moved above $69.00 extending an intermediate uptrend.<\/p>\n

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U.S. Broker\/Dealers iShares<\/b> $IAI moved above $127.75 to an all-time high extending an intermediate uptrend.<\/p>\n

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NASDAQ Biotech iShares<\/b> $IBB moved above $150.17 to a 30 month high extending an intermediate uptrend.<\/p>\n

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China Large Cap iShares<\/b> $FXI moved above $26.74 setting an intermediate uptrend.<\/p>\n

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S&P\/TSX Information Technology iShares <\/b>$XIT.TO moved above Cdn$57.00 to a three year high extending an intermediate uptrend. <\/p>\n

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S&P 100 and NASDAQ 100 stocks<\/b> moving above resistance extending intermediate uptrends included Meta Platforms<\/b> $META on a move above $543.71 to an all-time, Netflix<\/b> on a move above $711.33, Lulu Lemon<\/b> on a move above $275.04, QUALCOMM<\/b> on a move above $175.44 and Capital One Financial<\/b> on a move above $152.66 and Simon Properties on a move above $167.08<\/p>\n

Bank of Montreal<\/b> $BMO.TO a TSX 60 stock moved above Cdn$120.25 completing a double bottom pattern.<\/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 September 19th<\/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 19th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for September 19th<\/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

 <\/p>\n

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

This was the best news I’ve heard from the Fed in years, says Wharton’s Jeremy Siegel<\/b><\/p>\n

This was the best news I’ve heard from the Fed in years, says Wharton’s Jeremy Siegel \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

50 BPS Rate Cut. Good or Bad? | Profit Pilot<\/b><\/p>\n

50 BPS Rate Cut. Good or Bad? | Profit Pilot \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Traders React to Fed Rate Cut: Guy Adami, Dan Nathan<\/b><\/p>\n

Traders React to Fed Rate Cut \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Should investors adjust their portfolios following the rate cut? Gabriela Santos<\/b><\/p>\n

Should investors adjust their portfolios following the rate cut? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Fed Cuts, Stocks Soar: Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

Fed Cuts, Stocks Soar \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

"Compelling Stories" To Watch After Fed’s 50BPS Cut: Liz Ann Sonders<\/b><\/p>\n

"Compelling Stories" To Watch After Fed’s 50BPS Cut \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 8.40 to 83.40. It remains Overbought. Daily trend is up.<\/p>\n

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The long term Barometer added 3.00 to 79.40. It remains Overbought. Daily trend is up.<\/p>\n

 <\/p>\n

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

\"clip_image015\"<\/a><\/p>\n

The intermediate term Barometer added 5.31 to 76.11. It remains Overbought. Daily trend is up.<\/p>\n

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

The long term Barometer added 2.65 to 76.11. It remains Overbought. Daily trend is 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 Friday September 20th U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points at 8:35 AM EDT. Today is \u201ctriple witching day\u201d when volumes on North American exchanges are well above average. The Canadian Dollar was unchanged at US73.79 cents following release of Canada\u2019s July Retail Sales […]<\/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-180023","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180023","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=180023"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180023\/revisions"}],"predecessor-version":[{"id":180031,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180023\/revisions\/180031"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=180023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=180023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=180023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}