Tech Talk for Friday January 25th 2019
Equity index futures are higher this morning. S&P 500 futures were up 21 points in pre-opening trade.
Starbucks gained $2.20 to $66.94 after reporting higher than consensus fiscal first quarter sales and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0011-11.png "clip_image001[1]")
Intel dropped $3.52 to $46.24 after reporting lower than consensus fourth quarter revenues. The company also lowered guidance. JP Morgan, Stifel Nicolaus and Susquehanna lowered their target price on the stock.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0021-12.png "clip_image002[1]")
Norfolk Southern (NSC $165.94) is expected to open higher after reporting higher than consensus fourth quarter sales and earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0031-8.png "clip_image003[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/01/24/stock-market-outlook-for-january-25-2019/
Note seasonality charts on Crude Oil Days of Supply, Gasoline Days of Supply, Initial Jobless Claims and Continuing Jobless Claims.
Keith Richards on BNNBloomberg's Market Call Tonight
Following are links:
Top Picks
https://www.bnnbloomberg.ca/video/keith-richards-top-picks~1595339
Market Outlook
https://www.bnnbloomberg.ca/video/keith-richards-market-outlook~1595236
Past Picks
https://www.bnnbloomberg.ca/video/keith-richards-past-picks~1595277
An improving technical picture for China/Evolving Markets
Last night, the Hang Seng Index moved above 27,260 to 27,569 completing a double bottom pattern.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0041-8.png "clip_image004[1]")
Update on Performance of Seasonal Advantage Portfolio
From End of October 2018
S&P 500 -2.56
Dow Jones Industrials -2.25
NASDAQ Composite -4.03
Other seasonality fund -0.05
Seasonal Advantage Portfolio 1.22
(Unofficial)
Observation
More technical evidence that Asian/Emerging markets are completing a bottoming process! South Korea Kospi Index moved above 2,136.74 completing a double bottom pattern. Ditto for its related ETF: EWY
StockTwits Released Yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $FISV $XLNX $BK. Breakdown: $MKC.
Editor's Note: After 10:00 AM EST, breakouts included ADI, UNP, CMG, AIV and ED. No breakdowns.
Clearwater Seafood $CLR.CA moved below $5.06 extending an intermediate downtrend.
Spot lumber contract at $377.20 is up $10.10 completing a reverse Head & Shoulders pattern.
'Tis the season for lumber prices to move higher to April! $Lumber
Also, tis the season for Forest Product stocks and related ETFs to move higher to April $WOOD.
Interfor $IFP.CA moved above $16.21 completing a reverse Head & Shoulders pattern.
'Tis the season for Interfor $IFP.CA to move higher to April1
West Fraser Timber $WFT.CA and Canfor $CFP.CA also responding to higher lumber prices.
Editor's Note: West Fraser Timber and Canfor also show seasonal strength to April.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for January 24th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for January 24th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for January 24th 2019
Green: Increase from previous day
Red: Decrease from previous day
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S&P 500 Momentum Barometer
The Barometer added 0.80 to 61.80 yesterday. It remains intermediate overbought, but continues to trend higher.
TSX Momentum Barometer
The Barometer added 2.66 to 75.42 yesterday. It remains intermediate overbought, but continues to trend higher.
Josef Schachter on BNN Bloomberg's Market Call
Following are links:
Market Outlook:
https://www.bnnbloomberg.ca/video/josef-schachter-s-market-outlook~1594627
Top Picks:
https://www.bnnbloomberg.ca/video/josef-schachter-s-top-picks~1594780
Past Picks:
https://www.bnnbloomberg.ca/video/josef-schachter-s-past-picks~1594778
http://www.equityclock.com/about/seasonal-advantage-portfolio/
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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