Tech Talk for Thursday January 16th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for December Retail Sales was an increase of 0.3% versus a gain of 0.2% in November. Actual was an increase of 0.3%. Excluding auto sales, consensus for December Retail Sales is an increase of 0.6% versus a gain of 0.1% in November. Actual was an increase of 0.7%. Consensus for January Philly Fed Index was an increase to 3.8 from 2.4 in December. Actual was an increase to 17.4. Consensus for Weekly Jobless Claims was an increase to 216,000 from 214,000 last week. Actual was a drop to 204,000

Morgan Stanley gained $1.19 to $54.13 after reporting higher than consensus fourth quarter revenues and earnings.

UnitedHealth Group added $1.69 to $298.10 after Oppenheimer raised its target price to $343 from $312.

GlaxoSmithKline (GSK $47.61) is expected to open lower after Barclays downgraded the stock to Underperform from Market Perform.

Bombardier (BBD.B $) is expected to open lower after the company lowered fourth quarter revenue guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/01/15/stock-market-outlook-for-january-16-2020/

Note seasonality charts on U.S. REIT ETF, Canadian REIT ETF, 7-10 year Treasury Bond iShares and the VIX Index.

StockTwits released yesterday @EquityClock

ADP $ADP, a NASDAQ 100 stock moved above $172.70 to an all-time high extending an intermediate uptrend

Platinum ETN $PPLT moved above $93.47 extending an intermediate uptrend.

Brookfield Asset Management $BAM.A.CA, a TSX 60 stock moved above $78.62 to an all-time high extending an intermediate uptrend.

Consumer Staples SPDRs $XLP moved above $63.36 to an all-time high extending an intermediate uptrend.

Exelon $EXC, an S&P 100 stock moved above $46.68 setting an intermediate uptrend.

Canadian Crude Oil Index ETN $CCX.CA moved below $9.40 setting an intermediate downtrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 15th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 15th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 15th 2019

Green: Increase from previous day

Red: Decrease from previous day

Greg Schnell's Market Buzz

Recorded yesterday. Following is the link:

https://www.youtube.com/watch?v=lTQZ5CT_H2U&feature=youtu.be

Greg notes that the Technology sector has become frothy.

S&P 500 Momentum Barometer

The Barometer was unchanged yesterday at 75.75. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer advanced 4.59 to 76.15 yesterday. It remains intermediate overbought.

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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