Tech Talk for Thursday September 27th 2018
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 210,000 from 202,000 last week. Actual was 214,000. Consensus for August Durable Goods Orders was an increase of 1.8% versus a revised decline of 1.2% in July. Actual was an increase of 4.5%. Excluding transportation, consensus for August Durable Goods Orders was an increase of 0.1% versus a gain of 0.4% in July. Actual was an increase of 0.1%. Consensus for next estimate of second quarter real GDP was unchanged at 4.2%. Actual was unchanged at 4.2%.
Bed Bath & Beyond plunged $3.02 to $15.79 after reporting lower than consensus second quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/09/clip_image0011-8.png "clip_image001[1]")
Conagra dropped $2.56 to $33.50 after reporting lower than consensus fiscal first quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/09/clip_image0021-10.png "clip_image002[1]")
Cameco (CCO.TO $12.79 CCJ $9.83) advanced 14% in overnight trading after the company won a tax case against the Canadian government.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/09/clip_image0031-8.png "clip_image003[1]")
Apple gained $3.14 to $223.56 after JP Morgan initiated coverage with an Overweight rating. Target price is $272.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/09/clip_image0041-7.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/09/26/stock-market-outlook-for-september-27-2018/
Note seasonality charts on U.S. Bank industry, Crude Days of Supply, Gasoline Days of Supply, Crude Oil and New Home Sales.
Observations
Responses to the FOMC news of a 0.25% increase in the Fed Fund rate (as expected) released at 2:00 PM EDT were as follows:
U.S. equity index futures moved lower.
U.S. Dollar Index and related ETF were virtually unchanged.
Long term Treasury prices moved higher
The CRB Index and related ETF moved slightly lower.
StockTwits Released Yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $ATVI. Breakdowns: $GM $WRK
Editor's Note: Breakouts included VRTX, AZO, TJX and FOX.A. Breakdowns included LEN, MAS, AEE, DRE and AA.
Royal Bank $RY.CA, a TSX 60 stock moved above $104.98 extending an intermediate uptrend.
Regional Banking SPDRs $KRE moved below $60.23 completing a topping pattern.
Trader's Corner
Daily Seasonal/Technical Equity Trends for September 26th 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for September 26th 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 26th 2018
Green: Increase from previous day
Red: Decrease from previous day
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S&P 500 Momentum Barometer
The Barometer dropped another 2.80 to 57.00 yesterday. It remains intermediate neutral and trending down.
TSX Momentum Barometer
The Barometer dropped 2.51 to 37.66 yesterday. It changed to intermediate oversold from intermediate neutral and continues to trend down.
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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