Tech Talk for Tuesday September 28th 2021

U.S. equity index futures were lower this morning. S&P 500 futures were down 37 points in pre-opening trade.

Federal Reserve Chairman Powell and Treasury Secretary Yellen are scheduled to give testimony before the Senate Banking Committee this morning.

Agnico-Eagle and Kirkland Lake Gold have agreed to share exchange as a "merger of equals". Each Kirkland Lake Gold shares are to be exchanged for 0.7935 shares of Agnico Eagle.

Aurora Cannabis dropped $0.19 to US$6.19 after the company reported lower than consensus quarterly revenues and a higher than consensus quarterly loss.

Applied Materials dropped $4.92 to $177.82 after New Street downgraded the stock from Buy to Neutral.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/09/27/stock-market-outlook-for-september-28-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

U.S. energy equities are leading U.S. equity markets on the upside this morning. Notable breakouts were $XOM on a move above $58.45 and $CVX on a move above $102.67

First Trust Natural Gas ETF $FCG moved above $16.90 to a three year high extending an intermediate uptrend. Responding to higher natural gas prices.

U.S. Oil Service stocks also are moving higher with rising crude oil prices. Oil services ETF $OIH moved above $19879 completing a reversal pattern.

Canadian energy stocks and related ETFs are responding to higher crude oil and natural gas prices. Cdn. Energy iShares $XEG.CA moved above $9.29 extending an intermediate uptrend. BMO Equal Weight Cdn. Energy ETF $ZEO.CA moved above $44.33 extending an intermediate uptrend.

Canadian Natural Resources $CNQ.CA a TSX 60 stock moved above Cdn$45.58 extending an intermediate uptrend.

U.S. Big Center banks are responding to widening interest rate spreads. $KBE moved above $52.76 extending an intermediate uptrend. Bank of America $BAC moved above $43.27 extending an intermediate uptrend. MetlLfe moved above $63.08 extending an intermediate uptrend.

U.S. Regional Bank and related ETFs also are benefiting from increasing interest rate spreads. $KRE moved above $66.86 extending an intermediate uptrend.

Tesla $TSLA a NASDAQ 100 stock moved above $780.79 extending an intermediate uptrend.

KIrkland Lake Gold $KL.CA a TSX 60 stock moved above Cdn $55.88 extending an intermediate uptrend.

Canadian gold stocks remain under technical pressure. Yamana $YRI.CA a TSX 60 stock moved below Cdn$5.00 extending an intermediate downtrend.

Canadian forest product stocks including $CFP.CA $IFP.CA and $WFG are notably higher today in response to higher lumber prices. Lumber futures will form a classic reverse Head & Shoulders pattern on a move above US$700. The season for start of strength in the sector normally is mid-October. Seasonal influences look like they are appearing earlier than usual this year

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 27th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 27th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 27th 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

Seasonality Chart of the Day from www.EquityClock.com

Seasonal influences for grain prices (particularly soybeans and corn) and Agriculture ETFs (notably MOO in the U.S. and COW.TO on the TSX) are positive from October 1 to Jan.8th

MOO and COW.TO have been trading in a tight trading range during the past six months. A move by MOO above $95.16 and COW.TO above Cdn$60.46 to all-time highs will attract trading interest. Short term momentum indicators and relative strength have turned positive.

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 1.40 to 48.70 yesterday. It remains Neutral.

The long term Barometer slipped 0.80 to 73.75 yesterday. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 0.08 to 43.66 yesterday. It remains Neutral.

The long term Barometer added 2.21 to 66.67 yesterday. It remains 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