Tech Talk for Friday September 16th 2022

U.S. equity index futures were lower this morning. S&P 500 futures were down 41 points in pre-opening trade.

Volatility and volume on U.S. equity markets are expected to be higher than average. Today is the last trade day for September index and equity options and futures.

FedEx plunged $30.86 to $174.01 after lowering fiscal first quarter guidance.

Texas Instruments gained $$0.90 to 163.57 after increasing its dividend by 8%.

Boeing slipped $0.78 to $149.00 after announcing plans to resell Boeing 737 aircraft ordered by Chinese airlines, but blocked for delivery by Chinese regulators.

The Canadian Dollar moved below US75.60 cents in late trading yesterday reaching a 22 month low. It dropped another 0.28 to US75.32 cent in pre-opening trade.

EquityClock's Daily Comment

Headline reads "Retail stocks closed higher despite a weaker than average read of sales for August, but our interest in the group is more as a gauge of sentiment in the market as a low above the June bottom attempts to be pegged".

http://www.equityclock.com/2022/09/15/stock-market-outlook-for-september-16-2022/

Technical Notes for yesterday

U.S. Telecommunications iShares $IYZ moved below $23.76 extending an intermediate downtrend.

AT&T $T an S&P 100 stock moved below $16.64 extending an intermediate downtrend.

Adobe $ADBE a NASDAQ 100 stock moved below $338.00 extending an intermediate downtrend. The company lowered guidance.

Monster Beverages $MNST a NASDAQ 100 stock moved below $87.36 extending an intermediate downtrend.

Baidu $BIDU a NASDAQ 100 stock moved below $127.05 extending an intermediate downtrend.

Fortis $FTS.TO a TSX 60 stock moved below $57.06 extending an intermediate downtrend.

Empire Companies $EMP.A.TO a TSX 60 stock moved below $36.95 extending an intermediate downtrend. Fiscal first quarter earnings were below consensus.

Spot Gold futures moved below US$1,678.40 per ounce extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 15th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 15th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 15th 2021

Green: Increase from previous day

Red: Decrease from previous day

Links offered by a valued provider

Tom Bowley says "3,900 support by the S&P 500 Index is a Big Deal"

https://www.youtube.com/watch?v=LKmAIeWNKxU

Upcoming Event

Using Seasonality to Determine Where We Are in the Economic Cycle (Recession)? and How to Invest

Saturday, September 17, 2022 | 3:00 pm - 3:45 pm EDT
Some leading indicators are hinting that we are on the path towards an economic recession, traditionally an ideal time to abandon risk in portfolios. Jon Vialoux will show you what he's looking at and how to best position your portfolio using seasonal analysis.

Click on the following registration link to book your FREE spot to our presentation: Register Now

S&P 500 Momentum Barometers

The intermediate Barometer dropped another 5.60 to 33.20 yesterday. It remains Oversold. Trend remains down.

The long term Barometer dropped 2.20 to 29.40 yesterday. It remains Oversold. Trend remains down.

TSX Momentum Barometers

The intermediate term Barometer dropped 5.49 to 50.21 yesterday. It remains Neutral. Trend is down.

The long term Barometer dropped 3.38 to 33.33 yesterday. It remains Oversold. Trend is down.

Disclaimer: Seasonality ratings 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