Tech Talk for Thursday January 24th 2019

U.S. equity index futures were higher this morning. S&P 500 futures slipped 2 points in pre-opening trade.

European Central Bank announced that it maintained interest rates at current rates.

Index futures moved lower following release of the Weekly Jobless Claims report at 8:30 AM EST. Consensus was an increase to 218,000 from 213,000 last week. Actual was 199,000.

Canadian Pacific (CP $261.91 Cdn) is expected to open higher after releasing higher than consensus fourth quarter sales and earnings.

Rogers Communication (RCI.B $72.61 Cdn) is expected to open higher after releasing higher than consensus fourth quarter sales and earnings. The company also increase its dividend.

Xilinx gained $9.25 to $98.80 after reporting higher than consensus fiscal third quarter earnings. The company also raise its guidance.

Texas Instruments (TXN $95.49) is expected to open higher after reporting higher than consensus fourth quarter sales and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/01/23/stock-market-outlook-for-january-24-2019/

Note seasonality chart on Retail Trade

StockTwits Released Yesterday @EquityClock

IBM $IBM, a Dow Jones Industrial stock moved above $126.59 on better than consensus Q4 results extending an intermediate uptrend

Restaurant Brands $QSR.CA, a TSX 60 stock moved above $77.80 completing a double bottom pattern

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $IBM $BLL $IFF. Breakdown: $QCOM

‘Tis the season for Ball Corp $BLL to move higher to the end of April!

Canada Retail Sales up 0.6% (NSA) in November, stronger than the 0.2% average increase for the month. $MACRO #CDNecon #CAD

Saputo $SAP.CA, a TSX 60 stock moved below $38.39 setting an intermediate downtrend. Response to new Canadian Food Guide

Coca-Cola $KO, a Dow Jones Industrial stock moved above $48.01 resuming an intermediate uptrend

CAE $CAE.CA moved above $27.22 resuming an intermediate uptrend

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 23rd 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 23rd 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 23rd 2019

Green: Increase from previous day

Red: Decrease from previous day

Schachter Energy Report

Josef has released his January report. He has given a "green light" to investing in the Canadian energy sector based on Value, Sentiment, Technicals and Overall. According to Josef, " February/March should complete the last phase of general market smackdown and provide a double bottom for energy and a final cheap buying window". Access to the full report is available by subscription at https://schachterenergyreport.ca

Editor's Note: Josef's views are supported by seasonality in the sector. Seasonal influences are positive until the end of May.

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S&P 500 Momentum Barometer

The Barometer added 0.80 to 61.80 yesterday. It remains intermediate overbought, but continues to trend higher.

TSX Momentum Barometer

The Barometer slipped 0.96 to 72.77 yesterday. It remains intermediate overbought, but continues to trend higher.

http://www.equityclock.com/about/seasonal-advantage-portfolio/

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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