Tech Talk for Tuesday January 8th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 19 points in pre-opening trade.
The Canadian Dollar was virtually unchanged at 75.21 U.S. following to release of the Canadian November Trade Balance Report. Consensus was an increase in the deficit to $1.96 billion from $1.17 billion in October. Actual was a deficit of $2.06 billion.
Jefferies downgraded several money center U.S. banks to Hold from Buy including JP Morgan (JPM), SunTrust Banks (STI) and US Bancorp (USB)
Union Pacific gained $10.35 to $149.00 after Cowen upgraded the stock to Outperform from Perform. Target price was raised to $178 from $153.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0015.png "clip_image001[5]")
Monster Beverages added $1.44 to 51.17 after Sun Trust upgraded the stock to Buy from Hold. Target was increased to $65 from $50.
![clip_image002[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0027-1.png "clip_image002[7]")
MasterCard dropped $2.14 to $188.75 after Bank of America/Merrill downgraded the stock to Neutral from Buy.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0035.png "clip_image003[5]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/01/07/stock-market-outlook-for-january-8-2019/
StockTwits Released Yesterday @EquityClock
U.S. Dollar Index ETN $UUP moved below $25.37 extending an intermediate downtrend.
Netflix $NFLX, one of the FAANG stocks moved above $298.72 extending an intermediate uptrend.
Another Cdn. gold producer breakout! New Gold $NGD.CA moved above $1.25 completing a base building pattern.
Technical action by S&P 500 stocks to 10:15: Quietly bullish. Intermediate breakouts: $NFLX $KEYS. No breakdowns.
Recipe Unlimited $RECP.CA moved above $26.69 completing a base building pattern.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for January 7th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for January 7th 2019
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/01/clip_image0025-1.png "clip_image002[5]")
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for January 7th 2019
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
By David Chapman
Following is a link:
Headline reads,"
Stand Golden, Bulls Emboldened Bears, Rosy Jobs, Rattled Dove, Inching Spread, Wall Shutdown, Debt Spark". Following is a link:
S&P 500 Momentum Barometer
Percent of S&P 500 stocks trading above their 50 day moving average increased 5.20 to 17.00 yesterday. It continues to recover from a deeply oversold level.
TSX Momentum Barometer
Percent of TSX stocks trading above their 50 day moving average increased 3.48 to 36.36 yesterday. It continues to recover from a deeply oversold level.
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
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