Tech Talk for Tuesday September 10th 2024
U.S. equity index futures were mixed this morning. S&P 500 futures added 13 points at 8:30 AM EDT
Oracle gained $12.92 to $152.81 after reporting higher than consensus fiscal first quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/09/clip_image0011-2.png "clip_image001[1]")
Apple dropped $2.53 to $218.38 after losing a tax case to the European Union. Apple must pay a $14.4 billion penalty.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/09/clip_image0021-3.png "clip_image002[1]")
Alphabet dropped $0.26 to $148.45 after losing a final European Union court appeal against a 2.4 billion Euro fine for an inti-trust shopping case.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/09/clip_image0031-3.png "clip_image003[1]")
EquityClock's stock market outlook for September 10th
If we are entering into a period of sustained weakness for stocks, the Junk bond market is certainly not reflecting this potential shift of trend. See:
https://equityclock.com/2024/09/09/stock-market-outlook-for-september-10-2024/
Technical Notes
MasterCard $MA an S&P 100 stock moved above $487.92 to an all-time high extending an intermediate uptrend.
General Dynamics $GD an S&P 100 stock moved above $301.24 to an all-time high extending an intermediate uptrend.
CVS Health $CVS an S&P 100 stock moved below $55.60 setting an intermediate downtrend.
TC Energy $TRP a TSX 60 stock moved above Cdn$63.86 to an all-time high extending an intermediate uptrend.
Telus $T.TO a TSX 60 stock moved above CDn$22.70 setting an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for September 9th 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 9th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 9th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Markets Nosedive Amid Recession Fears: Mary Ellen McGonagle
Markets Nosedive Amid Recession Fears - YouTube
Carry Trade to Unwind Further on a 50 Bps Cut, Says Ed Yardeni
Carry Trade to Unwind Further on a 50 Bps Cut, Says Ed Yardeni - YouTube
Where The Fed (And Markets) Could Go From Here: Guy Adami and Liz Young
https://www.youtube.com/watch?v=413OO0cKIYE
S&P 500 Momentum Barometers
The intermediate term Barometer added 6.80 to 65.80. It returned to Overbought on a move above 60.00.
The long term Barometer added 3.20 to 71.40. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 2.21 to 47.35. It remains Neutral.
The long term Barometer added 1.77 to 62.83. 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
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