Tech Talk for Tuesday January 15th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 1 point in pre-opening trade. Index futures were supported by a 34.58 point gain by the Shanghai Composite Index to 2,570.34 following a pledge by the Chinese government to lower tax rates.
Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for December Producer Price Index a drop of 0.1% versus a gain of 0.1% in November. Actual was a drop of 0.2%. Excluding food and energy, consensus for December PPI was an increase of 0.2% versus a gain of 0.2% in November. Actual was a decline of 0.1%. Consensus for January Empire State Manufacturing Survey was 10.00 versus an upwardly revised 11.5 in December. Actual was 3.9.
UnitedHealth Group (UNH $248.06) is expected to open higher after reporting higher than consensus fourth quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0011-5.png "clip_image001[1]")
JP Morgan dropped $2.74 to $98.20 after reporting lower than consensus fourth quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0021-6.png "clip_image002[1]")
Wells Fargo dipped $0.17 to $48.25 after reporting higher than consensus fourth quarter earnings, but lower than consensus fourth quarter revenues.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0031-5.png "clip_image003[1]")
Delta Airlines slipped $0.75 to 47.00 after reporting lower than consensus fourth quarter earnings.
Sherwin Williams dropped $29.94 to $367.86 after lowering fourth quarter guidance.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/01/14/stock-market-outlook-for-january-15-2019/
Note seasonality chart on Silver vs Gold
StockTwits Released Yesterday @EquityClock
Goldcorp $G.CA $GG moved above $13.67 Cdn. and $10.08 U.S. on a share offer by $NEM extending an intermediate uptrend.
Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $EQT. No breakdowns.
Martinrea $MRE.CA move above $11.97 setting an intermediate uptrend.
'Tis the season for Martinrea $MRE.CA are auto part stocks to move higher to mid-June.!
U.S. utilities stocks break intermediate support: $D $DUK $ED. $PCG concerns are spreading.
TSX 60 Index
The Index has nicely outperformed the S&P 500 Index since mid- December thanks partially to strength in commodity sensitive equities in the Index.
The Index and related ETFs have a history of outperforming the S&P 500 Index until the end of February. RSP contributions at this time of year are a contributing factor.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for January 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for January 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for January 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer slipped 1.40 to 38.60 yesterday. It remains intermediate oversold and trending higher.
TSX Momentum Barometer
The Barometer eased 1.25 to 61.75 yesterday. It remains intermediate overbought and trending higher.
Technical Scoop
David Chapman's weekly comment compliments of www.enrichedinvesting.com
2019 World Outlook Financial Conference
Tickets Still Available
Feb 1st & 2nd in Vancouver
http://www.equityclock.com/about/seasonal-advantage-portfolio/
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
| Sponsored By... |
| More from the network: |