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.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0011-7.png "clip_image001[1]")
UnitedHealth Group added $1.69 to $298.10 after Oppenheimer raised its target price to $343 from $312.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0021-8.png "clip_image002[1]")
GlaxoSmithKline (GSK $47.61) is expected to open lower after Barclays downgraded the stock to Underperform from Market Perform.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0031-4.png "clip_image003[1]")
Bombardier (BBD.B $) is expected to open lower after the company lowered fourth quarter revenue guidance.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0041-2.png "clip_image004[1]")
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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