Tech Talk for Thursday January 23rd 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Index futures responded to concerns about spread of a corona virus in China. The Shanghai Composite Index plunged 84.23 to 2,976.53.

Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EST. Consensus was an increase to 212,000 from 204,000 last week. Actual was 211,000.

Procter & Gamble dropped $2.27 to 125.56 after reporting lower than consensus quarterly revenues.

Citrix Systems (CTXS $119.23) is expected to open higher after reporting higher than consensus fourth quarter earnings.

Comcast (CMCSA $47.44) is expected to open higher after reporting higher than consensus fourth quarter earnings.

Southwest Airlines (LUV $53.48) is expected to open lower after reporting lower than consensus fourth quarter revenues and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/01/22/stock-market-outlook-for-january-23-2020/

Note seasonality charts on the Technology sector and Existing Home Sales.

StockTwits released yesterday @EquityClock

Capital One $COF, an S&P 100 stock moved above $105.70 to an all-time high extending an intermediate uptrend. Strength followed higher than consensus fourth quarter earnings.

‘Tis the season to own Capital One $COF between now and May!

Cerner $CERN, a NASDAQ 100 stock moved above $76.08 to an all-time high extending an intermediate uptrend.

CCL Industries $CCL.B.CA, a TSX 60 stock moved above $58.32 extending an intermediate uptrend.

Rogers Communications $RCI $RCI.B.CA, a TSX 60 stock moved above U.S. $50.85 extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Keith asks, "Must everyone get stoned"? Following is a link:

https://www.valuetrend.ca/must-everyone-get-stoned/

Greg Schnell's "Market Buzz"

Distributed yesterday. Greg focuses on the Consumer Discretionary sector. Following is a link:

https://www.youtube.com/watch?v=xd-LV9YaV-Y&feature=youtu.be

S&P 500 Momentum Barometer

The Barometer dropped another 2.40 to 76.35 yesterday. It remains intermediate overbought and showing early signs of rolling over.

TSX Momentum Barometer

The Barometer slipped another 0.10 to 77.06 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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