Tech Talk for Wednesday January 15th 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 2 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the January Empire State Manufacturing Survey is unchanged from December at 3.5. Actual was 4.8. Consensus for the December Producer Price Index was an increase of 0.2% versus no change in November. Actual was an increase of 0.1%. Excluding food and energy, consensus for the December Producer Price Index was an increase of 0.2% versus a decline of 0.2% in November. Actual was an increase of 0.1%.

Target dropped $9.79 to $115.47 after lowering revenue guidance for its fiscal fourth quarter.

Goldman Sachs slipped $0.88 to $244.78 despite reporting higher than consensus fourth quarter revenues and earnings.

Bank of America eased $0.06 to $35.26 despite reporting higher than consensus fourth quarter revenues and earnings.

UnitedHealth Group dropped $1.24 to $287.00 after reporting lower than consensus fourth quarter revenues.

EquityClock's Daily Market Comment

Following is a link:
http://www.equityclock.com/2020/01/14/stock-market-outlook-for-january-15-2020/

Note seasonality chart on the Consumer Price Index.

StockTwits released yesterday @EquityClock

Homebuilders SPDRs $XHB moved above $46.57 to an all-time high extending an intermediate uptrend.

Bank of Montreal $BMO.CA, a TSX 60 stock moved above $102.70 extending an intermediate uptrend.

US Consumer Price Index (CPI) was higher by 2.3% in 2019, the strongest pace since 2011. $MACRO $STUDY #CPI #Inflation

Applied Materials $AMAT, a NASDAQ 100 stock moved above $62.85 to an all-time high extending an intermediate uptrend

Transportation Average iShares $IYT moved above $200.86 extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Keith's talks about "Bumper Bowling". Following is a link:

https://www.valuetrend.ca/bumper-bowling/

S&P 500 Momentum Barometer

The Barometer added 1.80 to 76.15 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer slipped 1.38 to 66.82 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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