Tech Talk for Friday September 13th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Index futures responded to news that China will lift punitive tariffs on U.S. soybeans and pork.

Index futures were virtually unchanged following release of August Retail Sales at 8:30 AM EDT. Consensus is an increase of 0.2% versus an upwardly revised gain of 0.8% in July. Actual was up 0.4%. Excluding auto sales, consensus was an increase of 0.1% versus a gain of 1.0% in July. Actual was unchanged.

Broadcom (AVGO $300.58) is expected to open higher after Susquehanna raised its target price to $345 from $315.

Lumber Liquidators added $0.04 to $11.29 after Raymond James raised its target price to $14.00 from $10.00.

MasterCard (MA $276.40) is expected to open higher after SunTrust RH raised its target price to $325 from $310.

Mosaic (MOS $21.98) is expected to open higher after JP Morgan raised its target price to $27 from $24.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/09/12/stock-market-outlook-for-september-13-2019/

Note seasonality charts on TSX Composite Index, Natural Gas Futures and U.S. Consumer Prices.

StockTwits released yesterday @EquityClock

Palladium ETN $PALL moved above $150.64 extending an intermediate uptrend. Responding to general strength this morning in precious metal prices.

Industrial SPDRs $XLI moved above $79.07 to an all-time high extending an intermediate uptrend

#CPI less Food and Energy up 0.2% (NSA) in August, inline with the average change for this time of year. The month of June still stands out on the chart as the trajectory of the price index shifted noticeably higher. #Tariffs $MACRO #Economy

Base metal stocks and related ETFs are responding to higher base metal prices $DBB. Chile ETF $ECH, the largest copper producing country in the world moved above $37.57

Editor's Note: Copper prices have developed a base building pattern. Nice move yesterday above $2.64 per lb.

Texas Instruments $TXN, a NASDAQ 100 stock moved above $129.60 to an all-time high extending an intermediate uptrend.

Semi-conductor iShares $SOXX moved above $220.82 to an all-time high extending an intermediate uptrend. Helped by the breakout by $TXN

JP Morgan $JPM, a Dow Jones Industrial stock moved above $117.24 to an all-time high extending an intermediate uptrend.

TSX Composite Index $TSX.CA moved above 16,672.71 to an all-time high extending an intermediate uptrend

Canadian Financial iShares $XFN.CA moved above $38.74 to an all-time high extending an intermediate uptrend

Editor's Note: Upside action was helped by strength in the bank stocks

Celgene $CELG, a NASDAQ 100 stock moved above $98.97 extending an intermediate uptrend.

Dow Jones Industrial iShares $DIA moved above $273.05 to an all-time high extending an intermediate uptrend.

Intel $INTC, a Dow Jones Industrial stock moved above $53.14 extending an intermediate uptrend.

TSX 60 iShares $XIU.CA moved above $24.94 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 12th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 12th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 12th 2019

Green: Increase from previous day

Red: Decrease from previous day

Keith Richard's Blog

Keith is "Keeping a zen mind on the Shanghai". Following is a link:

https://www.valuetrend.ca/keeping-a-zen-mind-on-the-shanghai

Hap Sneddon on BNNBloomberg's Market Call

Market Outlook

https://www.bnnbloomberg.ca/video/hap-sneddon-s-market-outlook~1777508

Past Picks

https://www.bnnbloomberg.ca/video/hap-sneddon-s-past-picks~1777557

Top Picks

https://www.bnnbloomberg.ca/video/hap-sneddon-s-top-pick~1777605

S&P 500 Momentum Barometer

The Barometer added another 2.00 to 70.20 yesterday. It remains intermediate overbought, but continues to trend higher.

TSX Momentum Barometer

The Barometer added 1.04 to 59.23 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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