Tech Talk for Thursday January 18th 2018

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 250,000 versus 261,000 last week. Actual was 220,000. Consensus for January Philly Fed Index was a drop to 25.0 from a revised 27.9 in December. Actual was 22.2. Consensus for December Housing Starts was 1.270 million units versus 1.297 million units in November. Actual was 1.192 million units.

Kinder Morgan gained $0.08 to $19.65 after reporting higher than consensus fourth quarter revenues and earnings.

Alcoa dropped $4.14 to $52.85 after reporting lower than consensus fourth quarter sales and earnings.

Tiffany (TIF $108.99) is expected to open higher after Cowen and RBC Capital raised their target price on the stock.

Goldman Sachs improved $0.35 to $254.00 after RBC Capital increased his target to $265 from $240.

Bank of America added $0.10 to $31.28 after RBC Capital raised its target price to $35 from $30.

Wal-Mart gained $1.95 to $104.65 after Goldman Sachs added the stock to its Conviction Buy list. Target was raised to $117.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/01/17/stock-market-outlook-for-january-18-2018/

Note seasonality charts on the Consumer Staples sector, Industrial Production and PHLX Oil Services Index

Observations

Shanghai Composite Index moved above 3,450.50 to a two year high extending an intermediate uptrend.

Brrrrrr, it's cold out there!

Brazil iShares moved above $43.56 to a 3 year high extending an intermediate uptrend

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Mixed. Breakouts: $WYNN $ALGN $BDX $ADI. Breakdowns: $DISH $F $FAST

Editor's Note: After 10:00 AM EST, breakouts included GRMN, MDLZ, RCL, CMG, SYY, RE, BEN, COST, PFE, AMG, WDC and MCHP.

Semiconductor iShares $SOXX moved above $181.55 to an all-time high extending an intermediate uptrend.

ARC Resources $ARX.CA, a TSX 60 stock moved below $13.59 extending an intermediate downtrend.

Consumer Staples SPDRs moved above $57.31 to an all-time high extending an intermediate uptrend.

Pfizer $PFE, a Dow Jones Industrial stock moved above $37.35 to an all-time high extending an intermediate uptrend.

Industrial Production up 0.9% (NSA) in December, a significant divergence compared to 0.6% average decline. #Economy #Manufacturing $MACRO

Trader's Corner

Daily Seasonal/Technical Equity Trends for January 17th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for January 17th 2018

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for January 17th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Keith comments on the art and science of selling. See:

http://www.valuetrend.ca/art-science-selling/

S&P 500 Momentum Barometer

The Barometer added 1.20 to 80.40 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer gained another 3.90 to 59.92 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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