Tech Talk for Friday October 18th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.
American Express added $1.83 to $120.93 after reporting higher than consensus third quarter earnings.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/10/clip_image0015-4.png "clip_image001[5]")
Coca Cola gained $0.52 to $54.31 after reporting higher than consensus third quarter revenues.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/10/clip_image0025-5.png "clip_image002[5]")
Schlumberger advanced $0.48 to $32.37 after reporting higher than consensus adjusted third quarter earnings and revenues.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/10/clip_image0035-4.png "clip_image003[5]")
Gildan Activewear plunged $10.63 to U.S.$24.75 after lowering guidance.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/10/clip_image0045-1.png "clip_image004[5]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/10/17/stock-market-outlook-for-october-18-2019/
Note seasonality charts on the German DAX Index, French CAC Index and Industrial Production.
European and Emerging Markets move higher
Short term breakouts by the Eurozone ETF and the Emerging Markets ETF! Weakness in the U.S. Dollar contributed to their strength
StockTwits released yesterday @EquityClock
India ETN $PIN moved above $24.49 extending an intermediate uptrend.
Blackrock $BLK, an S&P 100 stock moved above $449.97 extending an intermediate uptrend
Norbord $OSB.CA moved above $33.31 extending an intermediate uptrend
Strength in Healthcare stocks today was led by strength in the Hospital Providers ETF $IHF (i.e. hospital stocks). They would benefit from introduction of universal healthcare proposed by several of Democratic party presidential candidates.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for October 17th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for October 17th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 17th 2019
Green: Increase from previous day
Red: Decrease from previous day
Keith Richard's Blog
Keith asks, "Gold versus the U.S. Dollar: Who will blink first"? Following is a link:
https://www.valuetrend.ca/gold-vs-usd-who-will-blink-first/
Peter Shiff gives his answer in the following recent video entitled, "The Dollar is going to get killed". Following is a link:
Yesterday, the U.S. Dollar tested 97.56 to form a double top pattern and the U.S. Dollar ETN broke support at 26.67. Bullish for all commodities (including Gold)!
Conversely, the Euro moved above 111.5 and the Canadian Dollar moved above 76.13
S&P 500 Momentum Barometer
The Barometer slipped 1.60 to 63.53 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer eased 0.66 to 48.44 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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