Tech Talk for Wednesday August 28th 2019

U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade.

Autodesk dropped $18.21 to $132.00 after lowering third quarter guidance.

Hewlett Packard Enterprises added $0.50 to $13.43 after reporting higher than consensus fiscal third quarter earnings.

Tiffany gained $2.33 to $85.00 after reporting higher than consensus second quarter earnings.

Brown-Forman plunged $11.99 to $47.00 after reporting lower than consensus fiscal first quarter sales and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/08/27/stock-market-outlook-for-august-28-2019/

Note seasonality chart on the VIX Index.

Observations

Russell 2000 iShares moved below $144.81 setting an intermediate downtrend.

S&P Money Center Bank iShares moved below $39.78 completing an intermediate topping pattern. Inverted yield curve in the U.S. is taking its toll.

StockTwits released yesterday @EquityClock

Home prices in the 20 largest cities in the US up 0.3% (NSA) in June, much weaker than the 1.0% increase that is average for this time of year. $MACRO #Economy #Housing

Gold Miners ETF $GDX moved above $30.00 extending an intermediate uptrend.

Tis the season for strength in gold equities/ETFs til late in September! $GDX $GDXJ $XGD.CA

Another Cdn. gold stock breakout! Kinross Gold $KGC moved above $5.17 U.S. and $6.86 Cdn.extending an intermediate uptrend $K.CA

Another gold producer stock, Yamana Gold $YRI.CA moved above $4.99 Cdn extending an intermediate uptrend.

Rogers Communications $RCI.B.CA, a TSX 60 stock moved below $64.94 extending an intermediate downtrend.

First Trust Biotech ETF $FBT moved below $127.77 setting an intermediate downtrend

Coca Cola $KO, a Dow Jones Industrial stock moved above $54.82 to an all-time high extending an intermediate uptrend.

Costco $COST moved above $284.31 to an all-time high following launch of its first store in China

TSX Materials iShares $XMA.CA moved above $14.80 extending an intermediate uptrend. Units are heavily weighted in gold equities.

Kirkland Lake Gold $KL.CA moved above$65.45 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for August 27th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for August 27th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 27th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 1.60 to 33.80 yesterday. It remains intermediate oversold.

TSX Momentum Barometer

The Barometer added 0.43 to 38.89 yesterday. It remains intermediate oversold.

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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