Tech Talk for Thursday October 22nd 2020

CSX Corp.(CSX), an S&P 100 stock moved above $81.40 to an all-time high extending an intermediate uptrend following release of higher than consensus third quarter earnings.

Pre-opening Comments for Thursday October 22nd 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade.

Index futures were virtually unchanged following release of the Weekly Initial Jobless Claims report at 8:30 AM EDT. Consensus was 875,000 versus revised 842,000 last week. Actual was 787,000.

AT&T added $0.41 to $27.13 after reporting higher than consensus third quarter earnings.

Coca Cola gained $0.81 to $50.80 after reporting higher than consensus third quarter earnings.

Tesla advanced $21.14 to $443.78 after reporting higher than consensus third quarter earnings.

Chipotle dropped $86.66 to $1280.00 after reporting less than consensus third quarter revenues.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/10/21/stock-market-outlook-for-october-22-2020/

Note seasonality charts on Bitcoin and Crude Oil Days of Supply.

Technical Notes for Wednesday October 21st

Long term U.S. Treasury iShares (TLT) moved below $158.28 extending a short term downtrend.

Chile iShares (ECH) moved above $24.44 extending an intermediate uptrend. Units are responding to higher copper prices. Chile is the world's largest copper producing country.

Mexico iShares (EWW) moved above $36.15 extending an intermediate uptrend.

An early snow storm in the U.S. Midwest and Western Canada prompted natural gas futures to move above US$3.00 per MBtu. "Gassy" stocks on both sides of the border responded accordingly.

Biogen (BIIB), a NASDAQ 100 stock moved below $265.05 extending an intermediate downtrend. The stock responded to disappointing third quarter results.

PayPal (PYPL), a NASDAQ 100 stock moved above $212.45 to an all-time high extending an intermediate uptrend.

ConocoPhillips (COP), an S&P 100 stock moved below $31.07 extending an intermediate downtrend.

CGI Inc (GIB.A), a TSX 60 stock moved below Cdn$87.70 completing a modified Head & Shoulders pattern.

Canadian Tire (CTC.A), a TSX 60 stock moved above $152.94 extending an intermediate uptrend.

Nutrien (NTR), a TSX 60 stock moved above $54.93 extending an intermediate uptrend. Responding to higher grain prices.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 21st 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 21st 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 21st 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 2.01 to 61.04 yesterday. It remains intermediate overbought and trending down.

TSX Momentum Barometer

The Barometer added 2.38 to 55.71 yesterday. It remains intermediate neutral.

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