Tech Talk for Tuesday October 22nd 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

The Canadian Dollar slipped 0.14 to U.S.76.26 following election last night of a minority federal government.

Procter & Gamble added $5.51 to $124.59 after reporting higher than consensus quarterly earnings and revenues.

United Technologies gained $3.15 to $141.51 after reporting higher than consensus third quarter earnings and revenues.

TDAmeritrade gained $0.86 to $37.65 after reporting higher than consensus third quarter earnings and revenues

McDonald's dropped $6.83 to $203.40 after reporting lower than consensus third quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/10/21/stock-market-outlook-for-october-22-2019/

Note seasonality charts on Russell 1000 Value Index and Russell 2000 Index.

StockTwits released yesterday @EquityClock

Bank of America $BAC, an S&P 100 stock moved above $30.86 resuming an intermediate uptrend.

Citrix Systems $CTSX, a NASDAQ 100 stock moved above $102.23 extending an intermediate uptrend.

Symantec $SYMC, a NASDAQ 100 stock moved below $23.00 setting an intermediate downtrend.

Canadian forest product stocks are moving higher on increasing lumber prices. Interfor $IFP.CA completed a reverse Head & Shoulders pattern on a move above $14.65. Others showing strength include $WFT.CA and $OSB.CA. ‘Tis the season for these stocks to move higher to next spring!

Aerospace & Defense ETF $ITA moved below $213.92 setting an intermediate downtrend. Reflecting weakness in $BA

Chile iShares $ECH moved below support at $36.71 in response to street riots related to an increase in transportation fees.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for October 21st 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 21st 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 21st 2019

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting.com for the link below. David comments on "Churning markets, topping process, widening spreads, recession closer, abounding divergences"

http://enrichedinvesting.com/wp-content/uploads/2019/10/Churning-markets-topping-process-widening-spreads-recession-closer-abounding-divergences.pdf

S&P 500 Momentum Barometer

The Barometer added 4.28 to 67.94 yesterday. It remains intermediate overbought and trending higher.

TSX Momentum Barometer

The Barometer added 1.30 to 46.88 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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