Tech Talk for Friday October 11th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points in pre-opening trade. Futures advanced on news that U.S./China trade negotiations are continuing.

Apple is expected to lead the advance in U.S. equity markets at the opening. The stock is scheduled to open above its all-time high at $232.07.

The Canadian Dollar added 0.26 to U.S. 75.54 following release of Canada's September Employment Report at 8:30 AM EDT. Consensus for September Employment was an increase of 7,500 versus a gain of 81,100 in August. Actual was a gain of 53,700. Consensus for the September Unemployment Rate was unchanged from August at 5.7%. Actual was a drop to 5.5%..

Crude oil gained $0.81 to $54.36 on news that two missiles struck an Iranian oil tanker.

Fastenal gained $2.91 to $33.93 after reporting higher than consensus third quarter sales and earnings.

Johnson & Johnson (JNJ $129.06) is expected to open higher after Bernstein upgraded the stock to Outperform from Market Perform

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/10/10/stock-market-outlook-for-october-11-2019/

Note seasonality charts on U.S. Consumer Prices and Initial Jobless Claims

Next Tech Talk report

Next report will be released on Tuesday October 15th. Monday is an official holiday in Canada and a partial (bank) holiday in the U.S. American equity markets are open.  

StockTwits released yesterday @EquityClock

The footwear category of September’s Consumer Price Index report is higher by 4.7%, year-to-date, much stronger than the 1.8% increase that is average through this point in the year. #Tariffs Since @realDonaldTrump likes riddles: Will the consumer, and voters, make a deal out of the above average increase in apparel prices? $STUDY

Cisco $CSCO, a Dow Jones Industrial stock moved below $45.65 extending an intermediate downtrend

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for October 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

Canadian Technology Sector

The sector has a history of moving higher between now and the end of January.

Keith Richard's Blog

Keith says "There's a decent chance that market participants may turn to international markets and individuals plays over the coming year". Following is a link:

https://www.valuetrend.ca/opportunities-abroad/

Editor's Note: 'Tis the season for Emerging Markets to move higher to yearend!

S&P 500 Momentum Barometer

The Barometer added 7.52 to 48.90 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer added 3.56 to 49.33 yesterday. It remains intermediate neutral.

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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