Tech Talk for Tuesday October 1st 2024

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points at 8:30 AM EDT.

CVS Health gained $1.91 to $64.79 after announcing a review of options including a possible breakup of the company.

Boeing dropped $1.39 to $150.65 after announcing plans to raise $10 billion by selling shares.

McCormick added $1.69 to $83.99 after reporting a higher than consensus fiscal third quarter earnings.

Apple dropped $2.55 to $230.43 after Barclays noted sluggish iPhone 16 demand.

Equity Clock – Market Outlook for October 1, 2024

October, while volatile, is normally a positive month for stocks, but not so much in election years. See:

October, while volatile, is normally a positive month for stocks, but not so much in election years. (equityclock.com)

Technical Notes

China large cap iShares FXI moved above $32.26 extending an intermediate uptrend.

Israel iShares $EIS moved above $67.26 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 30th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for September 30th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 30th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

CHART THIS with David Keller, CMT

https://www.youtube.com/watch?v=x1vklJ9DBzo

Why Were Chinese Stocks Up 20% Last Week?! Mary Ellen McGonagle

Why Were Chinese Stocks Up 20% Last Week?! - YouTube

Pete Najarian on Market Volatility & A.I.’s Future

Pete Najarian on Market Volatility & A.I.’s Future - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 0.60 to 84.20. It remains Overbought. Daily trend is up.

The long term Barometer slipped 0.60 to 81.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer was unchanged at 78.48. It remains Overbought.

The long term Barometer also was unchanged at 78.03. It remains Overbought.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com 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