Tech Talk for Friday August 31st 2018
.. will be released on Tuesday September 4th. Monday is Labour Day holiday in Canada and the U.S.
BNN Appearance Tonight:
Jon Vialoux will be on BNN's Market Call Tonight at 6:00pm ET this Friday, August 31st taking your calls on Technical Analysis and Seasonal Investing. CALL TOLL-FREE 1-855-326-6266, EMAIL marketcall@bnnbloomberg.ca, or TWEET @MarketCall.
Pre-opening Comments for Friday August 31st
Equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.
Lululemon gained $14.50 to $151.50 after reporting higher than consensus sales and earnings. MKM Partners, Stifel Nicolaus, Susquehanna and JP Morgan raised their target price on the stock.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0011-17.png "clip_image001[1]")
Big Lots (BIG $47.86) is expected to open lower after reporting lower than consensus second quarter sales and earnings.
Coca Cola (KO $44.95) has entered the coffee retailing industry by offering to purchase European based Costa Coffee for $5.1 billion. Starbucks moved lower on the news.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0031-18.png "clip_image003[1]")
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0041-13.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/08/30/stock-market-outlook-for-august-31-2018/
Note seasonality charts on Apple, Canadian GDP and the Canadian Dollar
Observations
Lumber prices moved to a 10 month low.
'Tis the season for weakness in lumber and lumber stocks!
The VIX Index jumped on news that additional tariffs will be imposed on Chinese goods.
StockTwits Released Yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Quietly bearish. Intermediate breakout: $COP. Breakdowns: $BBBY $HSIC $DVA $FBHS
Editor's Note: After 10:00 AM EDT, breakout included NRG. Breakdowns included PVH, KHC and DLTR
MSCI Frontier 100 iShares $FM moved below $27.95 extending an intermediate downtrend.
TMX Group $X.CA moved above $89.26 to an all-time high extending an intermediate uptrend.
Canada GDP running 0.4% below average through the first half of the year as industrial production and real estate weigh $MACRO #CDNecon #CAD
Trader's Corner
Note changes in seasonality ratings as the month of September is entered
Equities and Related ETFs
Daily Seasonal/Technical Equity Trends for August 30th 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 30th 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 30th 2018
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer dropped 5.80 to 70.20 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer slipped 0.41 to 50.63 yesterday. It remains intermediate neutral and trending down.
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![clip_image018[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/08/clip_image0181-2.png "clip_image018[1]"){kind=small}
Disclaimer: Seasonality 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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