Tech Talk for Friday January 17th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.

Equity index futures were virtually unchanged following release of December Housing Starts released at 8:30 AM EST. Consensus was unchanged from November at 1.365 million units. Actual was 1.608 million units.

Gap Stores gained $1.19 to $19.80 after the company announced that it no longer will spin off its Old Navy division. The company also raised guidance. Deutsche Bank raised its target price on the stock to $18 from $15.

CSX dropped $1.87 to $74.87 after the company lowered revenue guidance.

State Street gained $1.87 to $83.01 after reporting higher than consensus fourth quarter revenues and earnings.

Adobe added $3.37 to $348.75 after Oppenheimer upgraded the stock to Outperform from Perform.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/01/16/stock-market-outlook-for-january-17-2020/

Note seasonality charts on the Dow Jones Transportation Average and Retail Trade.

StockTwits released yesterday @EquityClock

Pepsico $PEP, an S&P 100 stock moved above $139.47 to an all-time high extending an intermediate uptrend.

Bank on New York Mellon $BK, an S&P 100 stock moved below $49.80 and $47.91 setting an intermediate downtrend

Paychex $PAYX, a NASDAQ 100 stock moved above $87.84 to an all-time high extending an intermediate uptrend.

Bombardier $BBD.B.CA, a TSX 60 stock moved below $1.53 to a 4 year low extending an intermediate downtrend. The company lowered quarterly revenues and earnings guidance.

Imperial Oil $IMO.CA, a TSX 60 stock moved above $35.31 setting an intermediate uptrend.

Johnson & Johnson $JNJ, a Dow Jones Industrial stock moved above $147.84 to an all-time high extending an intermediate uptrend.

Cisco Systems $CSCO, a Dow Jones Industrial stock moved above $48.62 setting an intermediate uptrend.

Honeywell $HON, an S&P 100 stock moved above $182.21 to an all-time high extending an intermediate uptrend.

Breakouts that occurred in closing trades after 4:00 PM EST

U.S. Aerospace and Defense iShares $ITA moved above $232.86 to an all-time high extending an intermediate uptrend.

UnitedHealth Group $UNH, a Dow Jones Industrial stock moved above $300.00 to an all-time high extending an intermediate uptrend.

U.S. REIT iShares $IYT moved above $95.06 to an all-time high extending an intermediate uptrend.

U.S. Insurance iShares $IAK moved above $72.30 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

Observation

Classic reverse Head & Shoulders pattern on a break above $22.25!

S&P 500 Momentum Barometer

The Barometer gained 6.41 to 82.16 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 2.29 to 78.44 yesterday. It remains intermediate overbought.

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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