Tech Talk for Thursday October 10th 2024

U.S. equity index futures were lower this morning. S&P 500 futures were down 14 points at 8:35 AM EDT.

S&P 500 futures dropped 8 points following release of the U.S. September Consumer Price Index at 8:30 AM EDT. Consensus was a 0.1% increase versus a 0.2% gain in August. Actual was a 0.2% increase. On a year-over-year basis, consensus was a 2.3% increase versus a 2.5% increase in August. Actual was a 2.4% increase. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.3% in August. Actual was a 0.3% increase. On a year-over-year basis, consensus was a 3.2% increase versus a 3.2% increase in August. Actual was a 3.3% increase.

Costco added $1.00 to $910.10 after reporting higher than consensus sales in September

Delta Airlines dropped $3.06 to $50.98 after reporting less than consensus third quarter earnings.

Toronto Dominion Bank is expected to open lower after being fined US$3 billion by U.S. regulators for money laundering infractions.

EquityClock's Stock Market Outlook for October 10th

Gasoline product supplied jumped to the highest level in years last week, but this is likely an aberration given the push of product that would have been required ahead of the impact of Hurricane Milton. See:

https://equityclock.com/2024/10/09/stock-market-outlook-for-october-10-2024/

Technical Notes

Broadcom $AVGO an S&P 100 stock moved above $183.97 to an all-time high extending an intermediate uptrend.

Marriott International $MAR a NASDAQ 100 stock moved above $259.12 to an all-time high extending an intermediate uptrend.

Enbridge $ENB.TO a TSX 60 stock moved above Cdn$56.09 to an all-time high extending an intermediate uptrend.

FirstService Corp $FSV.TO a TSX 60 stock moved above Cdn$251.62 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 9th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for October 9th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 9th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

2025 will ‘definitely’ be a problematic year for oil, says OPIS’ Tom Kloza

2025 will ‘definitely’ be a problematic year for oil, says OPIS’ Tom Kloza - YouTube

Be overweight semiconductors for the medium-term, says Trivariate’s Adam Parker

Be overweight semiconductors for the medium-term, says Trivariate’s Adam Parker - YouTube

What to Buy at Record Highs: Guy Adami and Liz Young

Note "Earnings Insight" comments at 35 minute level.

What to Buy at Record Highs - YouTube

CHART THIS with David Keller, CMT Wednesday 10/9/24

https://www.youtube.com/watch?v=lVdXZMRajUg

Hap Sneddon's Top Picks for October 9, 2024

https://www.bnnbloomberg.ca/investing/2024/10/09/hap-sneddons-top-picks-for-october-9-2024/

What’s Wrong With This SPX Breakout? Joe Rabil

https://www.youtube.com/watch?v=s3-3ncOVsTQ

S&P 500 Momentum Barometers

The intermediate term Barometer added 3.80 to 73.60. It remains Overbought.

The long term Barometer added 2.40 to 76.20. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 3.14 to 77.58. It remains Overbought.

The long term Barometer added 0.90 to 78.03. It remains Overbought.

Disclaimer: Seasonality ratings 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