Cognizant (CTSH), a NASDAQ 100 stock moved above $69.26 extending an intermediate uptrend.
Hong Kong iShares (EWH) moved above $22.94 extending an intermediate uptrend.
Bank of New York Mellon (BK), an S&P 100 stock moved below $35.21 setting an intermediate downtrend.
Citigroup (C ), an S&P 100 stock moved below $47.72 setting an intermediate downtrend.
Pre-opening Comments for Tuesday September 15th
U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade.
Index futures were virtually unchanged following release of the September Empire State Manufacturing Survey at 8:30 AM EDT. Consensus was an increase to 6.00 from 3.70 in August. Actual was an increase to 17.00
Apple gained $2.40 to $117.76 in anticipation of launch later today of a variety of new products. The company is expected to launch a new watch and iPad.
Kraft Heinz added $0.73 to $32.60 after announcing plans to cut costs by $2 billion over the next five years.
Pepsico added $0.03 to $136.70 after announcing launch of a beverage called Driftwell to aid sleep.
Netflix (NFLX $476.26) is expected to open higher after KeyBanc Capital initiated coverage with an Overweight rating.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/09/14/stock-market-outlook-for-september-15-2020/
Technical Notes for Monday September 14th
Canadian Pacific (CP), a TSX 60 stock moved above $398.00 to an all-time high extending an intermediate uptrend.
Canadian National Railway (CNR), a TSX 60 stock moved above $140.27 to an all-time high extending an intermediate uptrend.
Agnico Eagle (AEM), a TSX 60 stock moved above US$84.45 and $112.09 Cdn. to an all-time high extending an intermediate uptrend.
Nutrien (NTR), a TSX 60 stock moved above $52.64 extending an intermediate uptrend.
Global Metals iShares (PICK) moved above $28.60 extending an intermediate uptrend.
Cameco and other uranium stock moved higher on news that Russia and the U.S extended an agreement that limits Russian uranium sales into the U.S. until 2040. The agreement sets the stage for higher uranium prices in North America. Former agreement expires at the end of 2020.
Seasonal influences turn positive for Cameco and uranium stocks at the end of September
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for September 14th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for September 14th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 14th 2020
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
Thank you to David Chapman and www.EnrichedInvesting.com for a link to their weekly comment. Headline reads," Reserve currencies, shelf life, money supply, velocity diverges, stock drop, gold hold, cruel low, second wave". Following is the link:
Editor's Note: The report includes an excellent history on the evolution of money.
S&P 500 Momentum Barometer
The Barometer gained 8.22 to $62.12 yesterday. It changed from intermediate neutral to intermediate overbought on a move back above 60.00.
TSX Momentum Barometer
The Barometer gained 9.29 to 58.10 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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