Tech Talk for Tuesday October 8th 2019

U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade. U.S./China trade negotiation concerns continue to escalate.

Index futures were virtually unchanged following release of the September Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 0.1% in August. Actual was a drop of 0.3%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.3% in August. Actual was a drop of 0.3%.

Microsoft (MSFT $137.12) is expected to open higher after Jefferies upgraded the stock to Buy from Hold.

Oracle (ORCL $54.80) is expected to open lower after Jefferies downgraded the stock to Hold from Buy.

Domino Pizza dropped $7/98 to $234.23 after reporting lower than consensus third quarter revenues and earnings. The company also lowered guidance.

Discover Financial (DFS $77.70), Capital One Financial (COF $86.88) and American Express (AXP $113.65) are expected to open lower after JP Morgan lowered target prices on the credit card sector.

Target (TGT $107.95) is expected to open higher after Raymond James initiated coverage with a Strong Buy rating.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/10/07/stock-market-outlook-for-october-8-2019/

Note seasonality charts on Gold Futures and Vehicle Sales.

StockTwit released yesterday @EquityClock

Dollarama $DOL.CA, a TSX 60 stock moved below $46.61 completing a Head & Shoulders pattern.

MMM $MMM, a Dow Jones Industrial stock moved below $154.00 extending an intermediate downtrend

Non seasonally adjusted data indicates that total vehicle sales fell by 22.3% last month, approximately twice the average percent decline for this time of year of 11.7%. $MACRO $STUDY $CARZ $GM $F

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for October 7th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 7th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 7th 2019

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

David Chapman's weekly comment compliments of www.enrichedinvesting.com

David discusses, "Trade save, unusual intervention, weak economy, unemployment low, gold correction, employment story". Following is a link:

http://enrichedinvesting.com/wp-content/uploads/2019/10/Trade-save-unusual-intervention-weak-economy-unemployment-low-gold-correction-employment-story.pdf?EUR<

S&P 500 Momentum Barometer

The Barometer slipped 3.81 to 49.90 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer eased 0.66 to 49.12 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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