Tech Talk for Friday September 28th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade.

Index futures were virtually unchanged after release of economic news at 8:30 AM EDT. Consensus for August Personal Income was an increase of 0.4% versus a gain of 0.4% in July. Actual was an increase of 0.3%. Consensus for August Personal Spending was an increase of 0.3% versus a gain of 0.1% in July. Actual was an increase of 0.3%.

The Canadian Dollar was virtually unchanged at 77.01 cents U.S. following release of Canada's July GDP report at 8:30 AM EDT. Consensus was an increase of 0.1% versus no change in June. Actual was an increase of 0.2%.

Tesla dropped $37.02 to $270.50 after the SEC charged Elon Musk with fraud.

Boeing (BA $) is expected to open higher after winning a Pentagon contract valued at $9.2 billion to build new trainer jets.

Blackberry (BB $13.27 Cdn) is expected to open higher after reporting better than consensus fiscal second quarter revenues and earnings.

Lowe's gained $1.30 to $115.80 after SunTrust raised its rating to Buy from Hold. Target price was increased to $138 from $110.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/09/27/stock-market-outlook-for-september-28-2018/

Note seasonality charts on the Materials sector, Durable Goods Orders, U.S. Imports, U.S. Exports and FTSE 100 Index.

Observations

Gains by the Dow Jones Industrial Average yesterday came entirely from one stock, Apple.

The Japanese Yen moved below 88.33 to a 10 month low extending an intermediate downtrend.

StockTwits Released Yesterday @EquityClock

Uranium ETF $URA moved above $13.44 thanks mainly to a 17.3% gain by $CCJ on a favourable tax ruling.

Technical action by S&P 500 stocks to 10:00: Bearish. Breakout: $FL. Breakdowns: $BBBY $F $CAG $CPB $BBT $BAC $FITB $USB $ZION $D $PCG $SRCL

Editor's Note: After 10:00 AM EDT, breakouts included HCA, CXO and VAR. Breakdown: SJM.

Canadian Pacific $CP.CA, a TSX 60 stock moved above $276.59 to an all-time high extending an intermediate uptrend.

Painted Pony $PONY.TO, a "gassy" stock oved above $3.32 extending an intermediate uptrend.

Editor's Note: Painted Pony was one of many Canadian "gassy" stocks that recorded significant gains yesterday in anticipation of an official "go-ahead" decision next week on a Canadian LNG facility.

Concho Resources $CXO, a "gassy" U.S. stock moved above $51.55 extending an intermediate uptrend.

Cenovus Energy $CVE.CA, a TSX 60 stock moved above $12.82 completing a reversal pattern.

US Durable Goods Orders up 16.9% (NSA) in August, better than 11.1% gain that is average for the summer month $MACRO #Economy #Manufacturing

Strength in durable goods orders remains broad, but rising inventories suggesting supply/demand mismatch. equityclock.com/2018/09/27/… $STUDY $SPX

US #Trade showing below average increase in exports and above average increase in imports through end of August. $MACRO #Economy

Trader's Corner

Daily Seasonal/Technical Equity Trends for September 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

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S&P 500 Momentum Barometer

The Barometer slipped another 1.20 to 55.80 yesterday despite gains by the S&P 500 Index and Dow Jones Industrial Average. It remains intermediate neutral and trending down.

TSX Momentum Barometer

The Barometer added 2.51 to 40.17 yesterday. It changed to intermediate neutral from intermediate oversold, but continues to trend 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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