Tech Talk for Friday January 18th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade.

The Canadian Dollar added 0.15 to 75.54 following release of the December Consumer Price Index. Consensus was a year-over-year increase of 1.8% versus 1.7% in November. Actual was 2.0%.

Netflix dropped $11.21 to $341.98 after reporting less than consensus fourth quarter revenues. Target on the stock was raised by Wedbush, Raymond James, JP Morgan, Moness and Oppenheimer.

Procter & Gamble (PG $90.64) is expected to open higher after JP Morgan raised its target price to $106 from $100.

VF Corp gained $7.24 to $80.50 after reporting higher than consensus fourth quarter earnings and revenues. The company also raised its guidance.

American Express dropped $2.25 to $97.24 after reporting lower than consensus fourth quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/01/17/stock-market-outlook-for-january-18-2019/

Note seasonality charts on the Philly Fed Index and Freight Shipments.

Observation

U.S. equity markets are closed on Monday for the Martin Luther King holiday. Next Tech Talk report is released on Monday.

StockTwits Released Yesterday @EquityClock

Days of supply of Gasoline showing highest level for this time of year in over two decades. equityclock.com/2019/01/16/… $USO $CL_F $UGA $RB_F

Philadelphia #Manufacturing Business Outlook comes in at +11.3 (NSA), stronger than the +5.2 that is average for January. $MACRO #Economy

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $SBAC. No breakdowns

Editor's Note: After 10:00 AM EST, intermediate breakouts included OI, PCAR, NKE, BAX, BAC and WMB.

Husky Energy $HSE.CA, a TSX 60 stock moved above $17.11 after halting its offer to acquire MEG Energy

Canadian Utilities $CU.CA moved above $32.90 extending an intermediate uptrend.

Nike $NKE, a Dow Jones Industrial stock moved above $79.00 extending an intermediate uptrend

‘Tis the season for Nike $NKE to move higher to late April!

Crescent Point Energy $CPG.CA, a TSX 60 stock moved above $4.57 completing a double bottom pattern

‘Tis the season for Crescent Point Energy $CPG.CA and TSX energy stocks to move higher to May!

BMO Emerging Markets ETF $ZEM.CA moved above $19.19 completing a reverse Head & Shoulders pattern

Editor's Note: iShares Emerging Markets $EEM completed a similar pattern on a move above $41.53.

‘Tis the season for Emerging Markets ETFs to move higher to May! $EEM $ZEM.CA $XEM.CA

Bank of America $BAC moved above $28.87 and $28.96 extending an intermediate uptrend

Tis the season for Bank of America $BAC to move higher to mid-March!

iShares Frontier ETF $FM moved above $27.80 completing a double bottom pattern on a move above $27.80.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

2019 World Outlook Financial Conference

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S&P 500 Momentum Barometer

Percent added 9.80 to 56.00 yesterday. It remains intermediate neutral, but continues to trend higher.

TSX Momentum Barometer

Percent added another 5.04 to 76.47 yesterday. It remains intermediate overbought, but continues to trend higher.

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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