Tech Talk for Thursday September 5th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade. Index futures responded to news that trade negotiations between China and the U.S. will resume early in October.

The S&P 500 Index is scheduled to open above short term resistance at 2643.31.

Index futures moved slightly higer following release of economic news at 8:15 and 8:30 AM EDT. Consensus for August Private Employment was 148,000 versus 156,000 in July. Actual was195,000. Consensus for Weekly Initial Jobless Claims was unchanged from last week at revised 216,000. Actual was 217,000.

Ciena (CIEN $41.20) is expected to open higher after reporting higher than consensus fiscal third quarter revenues and earnings.

Martin Marietta (MWM $260.70) is expected to open higher after JP Morgan raised its target price to $285 from $265.

Comcast (CMCSA $46.52) is expected to open higher after Oppenheimer upgraded the stock to Outperform.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/09/04/stock-market-outlook-for-september-5-2019/

Note seasonality charts on Emerging Markets and EAFE Index.

StockTwits released yesterday @EquityClock

Lam Research $LRCX, a NASDAQ 100 stock moved above $218.49 extending an intermediate uptrend.

Consumer Staples SPDRs $XLP moved above $61.02 to an all-time high extending an intermediate uptrend.

Electronic Arts $EA, a NASDAQ 100 stock moved above $97.07 setting an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 5.20 to 46.20 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer added 3.88 to 50.86 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

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