Tech Talk for Friday September 1st 2023

U.S. equity index futures were higher this morning. S&P 500 futures advanced 29 points at 8:35 AM EDT

Index futures gained 15 points following release of the U.S. August Employment Report at 8:30 AM EDT. Non-farm Payrolls were expected to increase 170,000 versus a gain of 187,000 in July. Actual was an increase of 187,000 versus a revised gain of 157,000 in July. August Unemployment Rate was expected to remain unchanged from July at 3.5%. Actual was an increase to 3.8%. August Hourly Earnings was expected to increase 0.3% versus a gain of 0.4% in August. Actual was an increase of 0.2%. On a year-over-year basis, August Hourly Earnings were expected to increase 4.4% versus a gain of 4.4% in July. Actual was an increase of 4.3%.

The Canadian Dollar was unchanged at US73.97 cents following release of Canada's June GDP report at 8:30 AM EDT. Consensus was a drop of 0.2% versus a gain of 0.5% in May. Actual was a decline of 0.2% versus a downwardly revised drop of 0.2% in May.

Lululemon advanced $3.39 to $384.65 after reporting higher than consensus second quarter revenues. The company also offered positive guidance.

Broadcom dropped $42.38 to $880.51 after offer guidance less than consensus.

Restaurant Brands International (QSR.TO Cdn$93.85) is expected to open higher after announcing a $1 billion share buyback program.

Nutanix gained $5.00 to $36.10 after reporting higher than consensus fiscal fourth quarter revenues. The company also offered positive sales guidance.

EquityClock's Daily Comment

Headline reads "The S&P 500 Index has fallen by an average of 0.5% in September in what is considered to be the weakest and most volatile month of the year for stocks".

https://equityclock.com/2023/08/31/stock-market-outlook-for-september-1-2023/

Next Tech Talk Report

Next report is released on Tuesday. Monday is the Labour Day holiday in Canada and the U.S.

Technical Notes

Dollar General $DG a NASDAQ 100 stock moved below $150.74 extending an intermediate downtrend. The stock responded to lower than consensus quarterly results.

Danaher $DHR an S&P 100 company moved above $265.77 extending an intermediate uptrend.

Adobe $ADBE a NASDAQ 100 stock moved above $552.94 extending an intermediate uptrend.

National Bank $NA.TO a TSX 60 stock moved below $94.21 and $94.12 setting an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 31st 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for August 31st 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 31st 2023

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

How to Spot the Early Signs Of A Reversal Using the ADX and DI Lines | Stock Talk (08.31.23)

How to Spot the Early Signs Of A Reversal Using the ADX and DI Lines | Stock Talk (08.31.23) - YouTube

The Final Bar with David Keller, CMT | Guest TG Watkins | 4pm ET, 1pm PT | August 31, 2023

The Final Bar with David Keller, CMT | Guest TG Watkins | 4pm ET, 1pm PT | August 31, 2023 - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 2.80 to 44.80. It remains Neutral.

The long term Barometer eased 1.60 to 57.00. It remains Neutral.

TSX Momentum Barometers

Intermediate term Barometer dropped 5.73 to 51.98. It remains Neutral.

Long term Barometer slipped 2.20 to 53.74. It remains Neutral.

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