Tech Talk for Friday September 14th 2018
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.
Index futures were virtually unchanged following release of August Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.5% versus an upwardly revised gain of 0.8% in July. Actual was an increase of 0.1%. Excluding auto sales, consensus was an increase of 0.5% versus a gain of 0.6% in July. Actual was an increase of 0.3%.
Adobe (ADBE $268.52) is expected to open higher after reporting higher than consensus fiscal third quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/09/clip_image0011-1.png "clip_image001[1]")
Hasbro (HAS $103.34) is expected to open higher after Jefferies selected the stock as its "Franchise Pick".
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/09/clip_image0021-2.png "clip_image002[1]")
Coca Cola (KO $45.83) is expected to open higher after Guggenheim initiated coverage with a Buy rating.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/09/clip_image0031-2.png "clip_image003[1]")
Costco (COST $241.27) is expected to open lower after Wells Fargo downgraded the stock to Market Perform from Outperform.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/09/clip_image0041-2.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/09/13/stock-market-outlook-for-september-14-2018/
Note seasonality charts on U.S. Consumer Price Index and U.S. Dollar Index
Jon and Don Vialoux presenting at the MoneyShow
Join us for the presentation at 9:15 AM EDT on Saturday
Observations
Early technical signs of a bottoming in selected international equity markets have surfaced.
StockTwits Released Yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $NKE $DHR $BAX $BSX $ROK $GLW $IFF. Breakdown: $STI
Editor's Note: After 10:00 AM EDT, breakouts included ADS, ZBH, FIS and IBM. Breakdown: BMY.
Nike $NKE, a Dow Jones Industrial stock moved above $83.47 to an all-time high extending an intermediate uptrend.
Platinum ETN $PPLT moved above $76.53 completing a double bottom pattern.
Methanex $MX.CA $MEOH moved above $77.10 U.S. and $99.65 Cdn. extending an intermediate uptrend.
Dollarama $DOLCA, a TSX 60 stock moved below $45.23 extending an intermediate downtrend.
Clearwater Seafoods $CLR.CA moved above $5.94 extending an intermediate uptrend.
Canadian auto parts stocks move higher in anticipation of a NAFTA agreement: $LNR.CA $MRE.CA $MG.CA
Grain prices remain under pressure with $JJGTF (1/3 each in corn, wheat, soybeans ETF) and $CORN moving to all-time lows.
US Consumer Price Index up 0.1% (NSA) in August, marginally below average for this summer month. $MACRO #Economy #CPI #Inflation
Trader's Corner
Equities and Related ETFs
Daily Seasonal/Technical Equity Trends for September 13th 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for September 13th 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 13th 2018
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer added 2.40 to 69.20 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer slipped 2.10 to 40.34 yesterday. It remains intermediate neutral and trending down.
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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