{"id":180186,"date":"2024-09-26T02:22:00","date_gmt":"2024-09-26T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=180186"},"modified":"2024-09-26T08:56:24","modified_gmt":"2024-09-26T12:56:24","slug":"tech-talk-for-thursday-september-26th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/09\/26\/tech-talk-for-thursday-september-26th-2024\/","title":{"rendered":"Tech Talk for Thursday September 26th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday September 26th<\/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 48 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures added 4 points following release of economic news at 8:30 AM EDT.<\/b> Consensus for August Durable Goods was a 2.8% decline versus a 9.9% gain in July (impacted by Boeing aircraft sales in July prior to a strike threat). Actual was unchanged. Next estimate for second quarter annualized real GDP growth was 3.0% versus 1.4% in the first quarter. Actual was 3.0%.<\/em><\/p>\n

Micron <\/b>advanced $12.56 to $108.73 after reporting higher than consensus first quarter results. The company also offered positive guidance.<\/em><\/p>\n

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

NRG Energy<\/b> advanced $6.68 to $95.92 after reporting higher than consensus fiscal third quarter results. The company also offered positive guidance.<\/em><\/p>\n

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

Southwest Airlines<\/b> added $1.16 to $29.55 after the company offered positive guidance and authorized a $2.5 billion share buyback program.<\/em><\/p>\n

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

 <\/p>\n

EquityClock\u2019s Stock Market Outlook for September 26th<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

The value of the largest asset for most Americans speaks directly to the wealth effect and it has just stalled. See:<\/em><\/b><\/p>\n

The value of the largest asset for most Americans speaks directly to the wealth effect and it has just stalled. (equityclock.com)<\/em><\/a><\/p>\n

 <\/p>\n

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

Biotech ETF<\/b> $BBH moved below $174.18 completing a double top pattern. Much of the weakness was triggered by a breakdown by Biogen.<\/p>\n

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

Biogen <\/b>$BIIB a NASDAQ 100 stock moved below $189.44 to a 28 month low extending an intermediate downtrend.<\/p>\n

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

Salesforce.com<\/b> $CRM a Dow Jones Industrial Average stock moved above $271.52 extending an intermediate uptrend. <\/p>\n

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

Advanced Micro Devices<\/b> $AMD an S&P 100 stock moved above $162.04 setting an <\/p>\n

intermediate uptrend.<\/p>\n

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

DoorDash <\/b>$DOOR a NASDAQ 100 stock moved above $143.34 to an all-time high extending an intermediate uptrend <\/p>\n

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

Wallgreens Boots<\/b> $WBA an S&P 100 stock moved below $8.46 to a multi-year low extending an intermediate downtrend. <\/p>\n

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

 <\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Equity Trends for September 25th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for September 25th<\/sup> 2024<\/p>\n

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

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

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

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

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

Daily Seasonal\/Technical Sector Trends for September 25th<\/sup> 2024<\/p>\n

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

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

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

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

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

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

https:\/\/www.youtube.com\/watch?v=7jxB7AuwunY<\/a><\/p>\n

 <\/p>\n

The Trillion Dollar Ticking Time Bomb… Dan Nathan, Deidre Bosa<\/b><\/p>\n

The Trillion Dollar Ticking Time Bomb… \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Are Wall Street Strategists Too Bullish? Guy Adami, Dan Nathan and Liz Young<\/b><\/p>\n

Are Wall Street Strategists Too Bullish? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

How to Use the ADX Indicator (Trend Strength Explained): Joe Rabil<\/b><\/p>\n

How to Use the ADX Indicator (Trend Strength Explained) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

What stocks do in the next month is a ‘coin flip’ due to election, says Fundstrat’s Tom Lee<\/b><\/p>\n

What stocks do in the next month is a ‘coin flip’ due to election, says Fundstrat’s Tom Lee \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 5.40 to 76.00. It remains Overbought. Daily data has rolled over.<\/p>\n

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

The long term Barometer dropped 2.80 to 76.00. It remains Overbought. Daily data has rolled over.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 2.21 to 76.99. It remains Overbought.<\/p>\n

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

The long term Barometer slipped 0.44 to 77.43. 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 Thursday September 26th U.S. equity index futures were higher this morning. S&P 500 futures were up 48 points at 8:35 AM EDT. S&P 500 futures added 4 points following release of economic news at 8:30 AM EDT. Consensus for August Durable Goods was a 2.8% decline versus a 9.9% gain in July […]<\/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-180186","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180186","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=180186"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180186\/revisions"}],"predecessor-version":[{"id":180194,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180186\/revisions\/180194"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=180186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=180186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=180186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}