Tech Talk for Friday September 27th 2024

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

S&P 500 index futures added 5 points following release of economic news at 8:30 AM EDT. Consensus for August PCE Price Index was a 0.2% gain versus a 0.2% gain in July. Actual was a 0.1 % gain. Consensus for core August PCE Price Index was a gain of 0.2% versus a 0.2% gain in July. Actual was a 0.1 % gain. Consensus for August Personal Income was a 0.4 gain versus a 0.3% gain in July. Actual was a 0.2% gain. Consensus for August Personal Spending was a 0.3% gain versus a 0.5% gain in July. Actual was a 0.2 % gain.

Costco dropped $10.44 to $891.00 after reporting less than consensus fiscal fourth quarter revenues.

Shanghai Composite Index added another 86.58 to 3087.53 in overnight trade after the Peoples Bank of China announced additional monetary stimulus.

Bristol Myers advanced $2.38 to $52.50 after receiving approval for its Schizophrenia drug.

EquityClock's Stock Market Outlook for September 27th

Semiconductors resolving their recent corrective pattern as their optimal holding period gets set to begin. See:

https://equityclock.com/2024/09/26/stock-market-outlook-for-september-27-2024/

Technical Notes

EAFE iShares $EFA moved above $83.28 to an all-time high extending an intermediate uptrend.

Eurozone iShares $EZU moved above $51.76 to an all-time high extending an intermediate uptrend.

Japan iShares $EWJ moved above $73.32 to an all-time high extending an intermediate uptrend.

Hong Kong iShares $EWH moved above $17.73 extending an intermediate uptrend.

Italy iShares EWI moved above $38.89 to an all-time high extending an intermediate uptrend.

Technology SPDRs $XLK moved above $226.96 resuming an intermediate uptrend.

Micron $MU a NASDAQ 100 stock moved above $111.00 completing a double bottom pattern. Reported higher than consensus quarterly results.

CAE $CAE.TO a TSX 60 stock moved above Cdn$24.80 completing a double bottom pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 26th 2024

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 September 26th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 26th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

CHART THIS with David Keller, CMT Thursday 9/26/24

https://www.youtube.com/watch?v=d7_pXy4Hn0U

S&P 500: The Key Levels You NEED To Know: Tom Bowley

https://www.youtube.com/watch?v=_quOx4C0px0

Breakout Stocks We’re Watching: Guy Adami, Dan Nathan and Carter Worth

https://www.youtube.com/watch?v=CXZIn4YQfZQ

Saying The Quiet Part Out Loud with Josh Brown

https://www.youtube.com/watch?v=201QKDroGS8

David Skarica on technicals for the Canadian Dollar relative to the U.S. Dollar

Canadian Dollar Basing ? US Dollar Near a Breakdown? SCOTDAY Sept 26th 2024 | David Skarica Addicted to Profits

S&P 500 Momentum Barometers

The intermediate term Barometer added 6.00 to 82.00. It remains Overbought.

The long term Barometer added 3.00 to 79.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 1.93 to 78.92. It remains Overbought.

The long term Barometer added 0.59 to 78.03. It remains Overbought. Daily trend remains up.

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