Tech Talk for Tuesday September 24th 2019
U.S. equity indices moved higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Index futures responded to news that U.S./China trade negotiations will resume on October 7th
Blackberry dropped $0.81 to $6.70 U.S. after reporting lower than consensus fiscal second quarter revenues.
![clip_image001[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0013.png "clip_image001[3]")
Autozone added $0.30 to $1,147.56 after reporting higher than consensus fiscal fourth quarter revenues.
![clip_image002[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0023.png "clip_image002[3]")
Walt Disney gained $1.34 to$133.80 after Wells Fargo initiated coverage on the stock with an Outperform rating.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0031-7.png "clip_image003[1]")
Apple added $2.09 to $220.81 after Jefferies upgraded the stock to Buy from Hold.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0041-5.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/09/23/stock-market-outlook-for-september-24-2019/
Note seasonality chart on 30 Year Treasury Bond Futures and a link to EquityClock's presentation at the Toronto Money Show.
Observation
Technical parameters for precious metal prices and related equities showed improvement yesterday. Seasonal influences are positive to early October.
Palladium ETN moved above$152.97 to an all-time high extending an intermediate uptrend.
StockTwits released yesterday @EquityClock
Canadian National Railway $CNR.CA $CNI, a TSX 60 stock moved below $118.21 Cdn and $89.15 U.S. setting an intermediate downtrend.
Dow Jones Utilities Average $UTIL moved above 863.78 to an all-time high extending an intermediate uptrend.
Canadian Pacific $CP.CA, a TSX 60 stock moved below $300.40 completing a double top pattern.
Kinross Gold $KGC, a TSX 60 stock moved above $5.30 U.S. to a three year high extending an intermediate uptrend. Another Canadian gold stock responding to higher gold prices!
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for September 23rd 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for September 23th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 23th 2019
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
David Chapman's weekly comment compliments of www.enrichedinvesting.com
Headline reads:
Expected cut, repo intervention, stocks decline, rosy gold, drone jump, slowing economy, maybe top
Following is the link:
S&P 500 Momentum Barometer
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0011-8.png "clip_image001[1]")
The Barometer added 0.20 to 72.20 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0021-8.png "clip_image002[1]")
The Barometer dropped 1.42 to 71.00 yesterday. It remains intermediate overbought.
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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