Vertex Pharmaceutical (VRTX), a NASDAQ 100 stock moved below $253.97 extending an intermediate downtrend.
Verizon (VZ), a Dow Jones Industrial Average stock moved below $58.03 setting an intermediate downtrend.
AT&T (T), an S&P 100 stock moved below $27.45 extending an intermediate downtrend.
Pre-opening Comments for Thursday October 15th
U.S. equity index futures were lower this morning. S&P 500 futures were down 42 points in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for the October Empire State Manufacturing Survey was 15.00 versus 17.00 in September. Actual was 10.5. Consensus for October Philly Fed Index was 14.00 versus 15.00 in September. Actual was 42.3. Consensus for Weekly Initial Jobless Claims was 825,000 versus 840,000 last week. Actual was 898,000.
United Airlines slipped $0.19 to $35.42 after reporting a higher than consensus third quarter loss.
Walgreens Boots added $0.69 to $36.60 after reporting higher than consensus third quarter revenues and earnings.
Roku (ROKU) dropped $8.80 to $224.25 after KeyBank downgraded the stock from Overweight to Sector Weight.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/10/14/stock-market-outlook-for-october-15-2020/
Note seasonality charts on the Dow Jones Industrial Average.
Technical Notes for Wednesday October 14th
Exelon (EXC), an S&P 100 stock moved above $41.54 resuming an intermediate uptrend.
Pepsico (PEP), a NASDAQ 100 stock moved above $144.04 to an all-time high extending an intermediate uptrend.
Baidu (BIDU), a NASDAQ 100 stock moved above $135.44 extending an intermediate uptrend.
Shaw Communications (SJR), a TSX 60 stock moved below US$17.60 extending an intermediate downtrend.
With the exception of Goldman Sachs that released "blow out" third quarter results, equities of most major reporting companies moved lower yesterday after releasing third quarter results.
Trader's Corner
Daily Seasonal/Technical Equity Trends for October 14th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for October 14th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 14th 2020
Green: Increase from previous day
Red: Decrease from previous day
Market Buzz
Greg Schnell notes "Software: New Names Perk Up"
Following is a link:
https://www.youtube.com/watch?v=C05Qj2xce54&feature=yout
S&P 500 Momentum Barometer
The Barometer dropped 2.81 to 70.28 yesterday. It remains intermediate overbought and showing early signs of rolling over.
TSX Momentum Barometer
The Barometer dropped another 4.23 to 54.46 yesterday. It remains intermediate neutral and showing early signs of rolling over.
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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