{"id":180460,"date":"2024-10-07T02:22:00","date_gmt":"2024-10-07T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=180460"},"modified":"2024-10-07T08:38:59","modified_gmt":"2024-10-07T12:38:59","slug":"tech-talk-for-monday-october-7th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/10\/07\/tech-talk-for-monday-october-7th-2024\/","title":{"rendered":"Tech Talk for Monday October 7th 2024"},"content":{"rendered":"<p><em><font size=\"5\"><strong>Pre-opening Comments for Monday October 7<sup>th<\/sup><\/strong><\/font><\/em><\/p>\n<p><strong><em><sup><font size=\"5\"><\/font><\/sup><\/em><\/strong><\/p>\n<p><em><b>U.S. equity index futures were lower this morning<\/b>. S&amp;P 500 futures were down 22 points at 8:30 AM EDT.<\/em><\/p>\n<p><em>Index futures responded to an escalation of the Middle East conflict. <b>WTI Crude Oil<\/b> added another $2.07 to $76.41 per barrel. Crude oil prices also were impacted by strengthening of Hurricane Milton in the Gulf of Mexico to a category #3.<\/em><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image001-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image001\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image001\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image001_thumb-3.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><em><b>Chevron<\/b> added $1.84 to $152.58 after its Canadian subsidiary announced sale of its 20% interest in Canadian Oil Sands to Canadian Natural Resources for US$6.5 billion.<\/em><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image0025.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image002[5]\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image002[5]\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image0025_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><em><b>Apple <\/b>dropped $3.06 to $223.74 after Jefferies downgraded the stock from Buy to Hold.<\/em><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image003-4.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image003\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image003\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image003_thumb-4.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><em><b>Amazon <\/b>dropped $3.64 to $182.94 after Wells Fargo downgraded the stock <\/em><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image0046.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image004[6]\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image004[6]\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image0046_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><em><font size=\"5\"><strong>EquityClock\u2019s Stock Market Outlook for October 7<sup>th<\/sup><\/strong><\/font><\/em><\/p>\n<p>&#160;<\/p>\n<p><b><em>The larger than average rise in employment for September, manipulated by seasonal adjustments, has opened up headwinds against stocks that were not apparent previous.<\/em><\/b><\/p>\n<p><em>See: <\/em><\/p>\n<p><a href=\"https:\/\/equityclock.com\/2024\/10\/05\/stock-market-outlook-for-october-7-2024\/\"><em>https:\/\/equityclock.com\/2024\/10\/05\/stock-market-outlook-for-october-7-2024\/<\/em><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>The Bottom Line<\/strong><\/font><\/p>\n<p><b>Focus this week is on September U.S. inflation reports<\/b>. Consensus calls for a slight reduction for September CPI and September PPI on a monthly basis and year-over-year basis. <\/p>\n<p><b>Official launch of the third quarter report season starts on Friday<\/b> when results by some of the biggest U.S. banks are released. As noted below, third quarter earnings by S&amp;P 500 companies will \u201cnot be much to cheer about\u201d. Favourable anticipation prior to release of quarterly results is expected to be muted at best. Notable concern is results from the financial sector. <b>According to FactSet, consensus calls for a 0.4% year-over-year earnings drop by the Financial sector and a 12% earnings drop by the Bank sub-sector.<\/b><\/p>\n<p><b>Old stock market trading folklore says \u201cSell Rosh Hashanah, buy Yom Kipper!\u201d<\/b> Historically, U.S. equity indices have recorded a brief downward correction during this period. This year the period is from the close on October 2<sup>nd<\/sup> to October 12<sup>th<\/sup>. Chances are high that the saying will happen again this year.<\/p>\n<p><b>Geopolitical events are expected to continue to have an impact on selected equity markets and stocks<\/b>. <\/p>\n<ul>\n<li>Defense stocks and related ETFs are responding to growing tensions in the Middle East and Ukraine<\/li>\n<li>Far East equity indices and commodity prices are responding to China\u2019s efforts to reflate its economy.<\/li>\n<\/ul>\n<p><font size=\"5\"><strong>Consensus for Earnings and Revenues by S&amp;P 500 companies<\/strong><\/font><\/p>\n<p>Source: <a href=\"http:\/\/www.factset.com\">www.factset.com<\/a><\/p>\n<p><b>Earnings and revenue estimates for remainder of 2024 and for 2025 were lowered slightly last week, typical just prior to start of the quarterly report season.<\/b><\/p>\n<p><b>A word of caution!<\/b> Consensus for third quarter results calls for significantly lower than the 11.3% year-over-year earnings gain recorded in the second quarter. Third quarter earnings on a year-over-year basis are expected to slip to a 4.2% increase, down from 4.6% last week. Consensus for third quarter revenues calls for a 4.7% year-over-year increase (versus a 4.8% increase last week).<\/p>\n<p><b>Earnings and revenue gains accelerate in the fourth quarter, but at a slightly lower rate.<\/b> Consensus calls for a 14.6% increase in earnings (versus a 14.9% increase last week) and a 5.1% revenue increase (versus a 5.3% increase last week).<\/p>\n<p><b>For all of 2024<\/b>, consensus calls for a 9.8% earnings increase (versus a 10.0% increase last week) and 5.0% revenue increase (versus a 5.1% increase last week).<\/p>\n<p><b>Earnings gains accelerate in 2025, but at a slightly lower rate.<\/b> First quarter earnings are expected to increase 14.0 % on a year-over-year basis (versus a 14.5% increase last week) and revenues are expected to increase 5.5% (versus a 5.7% gain last week). Second quarter earnings are expected to increase 13.3% (versus a 13.6% gain last week) and revenues are expected to increase 5.4% (versus 5.5% last week). For all of 2025 earnings are expected to increase 14.9% (versus a 15.1% increase last week) and revenues are expected to increase 5.9%.<\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Economic News This Week<\/strong><\/font><\/p>\n<p>Source: <a href=\"http:\/\/www.Investing.com\">www.Investing.com<\/a><\/p>\n<p><b>August U.S. Trade<\/b> released at 8:30 AM EDT on Tuesday is expected to be a deficit of $72.3 billion versus a deficit of $78.8 billion in July.<\/p>\n<p><b>August Canadian Trade<\/b> released at 8:30 AM EDT on Tuesday is expected to be a $500 million surplus versus a $680 million surplus in July.<\/p>\n<p><b>U.S. September Consumer Price Index<\/b> released at 8:30 AM EDT on Thursday is expected to increase 0.1% versus a gain of 0.2% in August. On a year-over-year basis, September CPI is expected to increase 2.3% versus a gain of 2.5% in August. Excluding food and energy, September CPI is expected to increase 0.2% versus a 0.3% gain in August.<\/p>\n<p><b>U.S. September Producer Price Index<\/b> released at 8:30 AM EDT on Friday is expected to increase 0.1% versus a gain of 0.2% in August. Excluding food and energy, September Producer Price Index is expected to increase 0.2% versus a 0.3% gain in August.<\/p>\n<p><b>Canadian September Employment<\/b> released at 8:30 AM EDT on Friday is expected to increase 33,700 versus a 22,100 gain in August. September Unemployment Rate is expected to remain unchanged from August at 6.6%.<\/p>\n<p><b>Michigan October Consumer Sentiment<\/b> released at 10:00 AM EDT on Friday is expected to increase to 70.2 from 70.1 in September.<\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Selected Earnings News This Week<\/strong><\/font><\/p>\n<p>Source: <a href=\"http:\/\/www.Investing.com\">www.Investing.com<\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image002-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image002\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image002\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image002_thumb-3.png\" width=\"640\" height=\"553\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Trader\u2019s Corner<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image004-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image004\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image004\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image004_thumb-3.png\" width=\"504\" height=\"484\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"4\"><strong>Equity Indices and Related ETFs<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Equity Trends for October 4<sup>th<\/sup> 2024<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image006-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image006\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image006\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image006_thumb-2.png\" width=\"702\" height=\"354\" \/><\/a><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font><\/em><\/p>\n<p><em>Red: Decrease from previous day<\/em><\/p>\n<p><em>Source for all positive seasonality ratings: <\/em><a href=\"http:\/\/www.EquityClock.com\"><em>www.EquityClock.com<\/em><\/a><\/p>\n<p><em><\/em><\/p>\n<p><font size=\"4\"><strong>Commodities<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Commodities Trends for October 4<sup>th<\/sup> 2024<\/p>\n<p><b><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image008-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image008\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image008\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image008_thumb-2.png\" width=\"654\" height=\"418\" \/><\/a><\/b><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<b><\/b><\/font><\/em><\/p>\n<p><em><font color=\"#ff0000\">Red: Decrease from previous day<\/font><\/em><\/p>\n<p>&#160;<\/p>\n<p><font size=\"4\"><strong>Sectors<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Sector Trends for October 4<sup>th<\/sup> 2024<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image010-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image010\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image010\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image010_thumb-2.png\" width=\"702\" height=\"474\" \/><\/a><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font><\/em><\/p>\n<p><em>Red: Decrease from previous day<\/em><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Changes Last Week<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image012-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image012\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image012\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image012_thumb-3.png\" width=\"352\" height=\"352\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Links offered by valued providers<\/strong><\/font><\/p>\n<p><b><\/b><\/p>\n<p><b>Michael Campbell\u2019s Money Talks for October 5<sup>th<\/sup> <\/b><\/p>\n<p><a href=\"https:\/\/mikesmoneytalks.ca\/Podcasts\/\">Michael Campbell\u2019s MoneyTalks \u2013 Complete Show (mikesmoneytalks.ca)<\/a><\/p>\n<p>&#160;<\/p>\n<p><b><\/b><\/p>\n<p><b>Will China\u2019s stimulus blitz help U.S. markets? Mark Leibovit<\/b><\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2024\/10\/will-chinas-stimulus-blitz-help-us-markets-mark-leibovit\/\">Will China\u2019s Stimulus Blitz Help US Markets? \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Will Technology Drive S&amp;P Higher in October? Julius de Kempaneur<\/b><\/p>\n<p><b>Includes a discussion on seasonality<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=yCbk55JJzNM\">https:\/\/www.youtube.com\/watch?v=yCbk55JJzNM<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>CHART THIS with David Keller, CMT Friday 10\/4\/24<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Eqd6NXIF9SA\">https:\/\/www.youtube.com\/watch?v=Eqd6NXIF9SA<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Jobs Soar Past Estimates, But What Happens Next? Tom Bowley<\/b><\/p>\n<p><a href=\"https:\/\/stockcharts.com\/articles\/tradingplaces\/2024\/10\/jobs-soar-past-estimates-but-w-395.html\">Jobs Soar Past Estimates, But What Happens Next? | Trading Places with Tom Bowley | StockCharts.com<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Does the Market Have Bad Breadth? David Keller<\/b><\/p>\n<p><a href=\"https:\/\/stockcharts.com\/articles\/mindfulinvestor\/2024\/10\/does-the-market-have-bad-bread-143.html\">Does the Market Have Bad Breadth? | The Mindful Investor w\/ David Keller, CMT | StockCharts.com<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>NASDAQ: A scenario: Wycoff Market<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/shorts\/7Zl5NoYBc4s\">https:\/\/www.youtube.com\/shorts\/7Zl5NoYBc4s<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>How Realistic is the BRICS\u2019 Proposed Gold Backed \u201cUnit\u201d? Bob Hoye<\/b><\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2024\/10\/how-realistic-is-the-brics-proposed-gold-backed-unit-bob-hoye\/\">How Realistic is the BRICS\u2019 Proposed Gold Backed \u201cUnit\u201d? \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Canadian Businesses Closing at an Alarming Rate<\/b>: Danielle Park<\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2024\/10\/canadian-businesses-closing-at-an-alarming-rate-danielle-park\/\">Canadian Businesses Closing at an Alarming Rate \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Iran\u2019s Threat To Use It\u2019s Largest And Most Lethal Ballistic Missiles To Attack Israel Lifted The Crude Oil War Premium by US$5\/b: Josef Schachter<\/b><\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2024\/10\/irans-threat-to-use-its-largest-and-most-lethal-ballistic-missiles-to-attack-israel-lifted-the-crude-oil-war-premium-by-us5-b\/\">Iran\u2019s Threat To Use It\u2019s Largest And Most Lethal Ballistic Missiles To Attack Israel Lifted The Crude Oil War Premium by US$5\/b \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>The 2024 US Senate Map Based on the Latest Polls in EVERY KEY RACE!<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=PywXHyFEkqY\">https:\/\/www.youtube.com\/watch?v=PywXHyFEkqY<\/a><\/p>\n<p><b><\/b><\/p>\n<p><b>Technical Scoop for October 7<sup>th<\/sup> from David Chapman and <\/b><a href=\"http:\/\/www.EnrichedInvesting.com\"><b>www.EnrichedInvesting.com<\/b><\/a><b> <\/b><\/p>\n<p><a href=\"https:\/\/enrichedinvesting.com\/library\/\">https:\/\/enrichedinvesting.com\/library\/<\/a><\/p>\n<p><font size=\"5\"><strong><\/strong><\/font><\/p>\n<p><strong><font size=\"5\">Chart of the Day<\/font><\/strong>: TSX Base Metals iShares (XBM.TO)<\/p>\n<p>Technical score has improved recently to 4 thanks to a rising interest in securities that benefit from an economic recovery in China. Seasonal influences have turned positive: Buy on weakness<\/p>\n<p>&#160;<\/p>\n<p><strong><font size=\"4\">Technical Score<\/font><\/strong><\/p>\n<p>Intermediate trend: Up 2<\/p>\n<p>Strength relative to S&amp;P 500: Positive 2<\/p>\n<p>Trades above its 20 day moving average: Yes 1<\/p>\n<p>Daily momentum: (Stochastics, RSI, MACD): Turned lower -1 <\/p>\n<p>Total 4<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image013-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image013\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image013\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image013_thumb-2.png\" width=\"464\" height=\"685\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Technical Notes for Friday<\/strong><\/font><\/p>\n<p><b>S&amp;P Oil and Gas Exploration SPDRs<\/b> $XOP moved above $137.04 and $141.38 resuming an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image014-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image014\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image014\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image014_thumb-3.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>Oil Services iShares<\/b> $OIH moved above $299.99 extending an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image015-2.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image015\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image015\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image015_thumb-2.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>BMO Equal Weight Canadian Energy ETF<\/b> $ZEO.TO moved above Cdn$74.27 to an all-time high extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image016-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image016\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image016\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image016_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>Silver iShares $SLV<\/b> moved above $29.56 to a 10 year high extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image017-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image017\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image017\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image017_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>S&amp;P 100 and NASDAQ 100 stocks moving above resistance<\/b> extending an intermediate uptrend included CVS Health, Diamondback Energy, Atlassian Corp and Datadog.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image018-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image018\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image018\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image018_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image019-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image019\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image019\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image019_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>S&amp;P 100 and NASDAQ 100 stocks moving below support<\/b> setting an intermediate downtrend included Coca Cola, Merck and American Tower.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image020-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image020\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image020\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image020_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image021-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image021\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image021\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image021_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>S&amp;P 500 Momentum Barometers<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image022.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image022\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image022\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image022_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The intermediate term Barometer added 2.80 on Friday, but dropped 7.60 last week to 76.00. It remains Overbought.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image023.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image023\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image023\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image023_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The long term Barometer added 1.40 on Friday, but dropped 4.40 last week. It remains Overbought.<\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>TSX Momentum Barometers<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image024.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image024\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image024\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image024_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The intermediate term Barometer added 1.79 on Friday and gained 0.91 last week to 82.51. It remains Overbought. Daily uptrend was extended. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image025.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image025\" style=\"border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px\" border=\"0\" alt=\"clip_image025\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image025_thumb.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The long term Barometer added 0.90 on Friday and gained 1.79 last week to 79.82. It remains Overbought. <\/p>\n<p>&#160;<\/p>\n<p><em><b>Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n<p><a href=\"http:\/\/www.equityclock.com\"><em>www.equityclock.com<\/em><\/a><em> 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":"<p>Pre-opening Comments for Monday October 7th U.S. equity index futures were lower this morning. S&amp;P 500 futures were down 22 points at 8:30 AM EDT. Index futures responded to an escalation of the Middle East conflict. WTI Crude Oil added another $2.07 to $76.41 per barrel. Crude oil prices also were impacted by strengthening of [&hellip;]<\/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-180460","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180460","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=180460"}],"version-history":[{"count":3,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180460\/revisions"}],"predecessor-version":[{"id":180471,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180460\/revisions\/180471"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=180460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=180460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=180460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}