Tech Talk for Friday September 25th 2020
U.S. equity index futures were lower this morning. S&P 500 futures were down 14 points in pre-opening trade.
Index futures were virtually unchanged following release of the August Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 1.5% versus an upwardly revised gain of 11.7% in July. Actual was an increase of 0.4% . Excluding transportation orders, consensus was an increase of 1.2% versus an upwardly revised gain of 3.2% in July. Actual was an increase of 0.4%.
Novavax gained $7.51 to $109.95 after the company announced start of Phase 3 trials for its COVID 19 vaccine in the United Kingdom.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/09/clip_image0011-8.png "clip_image001[1]")
Bristol-Myers advanced $1.85 to $60.10 after the company announced positive results from its Phase 3 trials on its bladder cancer drug.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/09/clip_image0021-11.png "clip_image002[1]")
Alcoa (AA $11.70) is expected to open higher after B. Riley raised its target price from $11.00 to $14.00.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/09/clip_image0031-11.png "clip_image003[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/09/24/stock-market-outlook-for-september-25-2020/
Note seasonality chart on Natural Gas futures
Technical Notes for Thursday September 24th
S&P Bank SPDRs (KBE) moved below $27.93 setting an intermediate downtrend.
S&P Regional Banks SPDRs (KRE) moved below $33.67 setting an intermediate downtrend.
China Large Cap iShares (FXI) moved below $41.09 completing a double top pattern.
Cameco (CCJ), a TSX 60 stock moved below US$10.05 and Cdn$13.49 setting an intermediate downtrend.
Canadian Natural Resources (CNQ), a TSX 60 stock moved below $21.62 completing a double top pattern.
Trader's Corner
Daily Seasonal/Technical Equity Trends for September 24th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for September 24th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 24th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/09/clip_image0015-7.png "clip_image001[5]")
The Barometer added 0.60 to 26.25 yesterday. It remains intermediate oversold and continues to trend down.
TSX Momentum Barometer
Not available at time of posting.
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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