Tech Talk for Wednesday January 22nd 2020
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade.
The Canadian Dollar was virtually unchanged at U.S.76.68 cents following release of Canada's December Consumer Price Index at 8:30 AM EST. Consensus was unchanged versus a decline of 0.1% in November. Actual was unchanged.
IBM added $6.70 to $145.01 after reporting higher than consensus fourth quarter revenues and earnings.
![clip_image001[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0017-1.png "clip_image001[7]")
Netflix gained $5.16 to $343.27 after reporting higher than consensus fourth quarter earnings.
![clip_image002[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0027.png "clip_image002[7]")
Capital One added $2.33 to $104.52 after reporting higher than consensus fourth quarter earnings.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0035-3.png "clip_image003[5]")
Tesla gained $28.50 to an all-time high at $575.80 after Wedbush raised its target price from $370 to $550.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0045.png "clip_image004[5]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/01/21/stock-market-outlook-for-january-22-2020/
Note seasonality chart on the U.S. REIT ETF and Manufactured Goods Shipments.
Observation
Wheat ETN moved above $5.99 completing a long term double bottom pattern.
StockTwits released yesterday @EquityClock
Costco $COST, an S&P 100 stock moved above $307.10 to an all-time high extending an intermediate uptrend.
Gildan Activewear $GIL.CA, a TSX 60 stock moved above $39.24 resuming an intermediate uptrend.
Boeing $BA, a Dow Jones Industrial stock moved below $320.61 and $317.70 extending an intermediate downtrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for January 21st 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for January 21st 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for January 21st 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0015-4.png "clip_image001[5]")
The Barometer dropped 4.41 to 78.76 yesterday. It remains intermediate overbought and showing early signs of rolling over.
TSX Momentum Barometer
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0025-3.png "clip_image002[5]")
The Barometer dropped 2.65 to 77.17 yesterday. It remains intermediate overbought and showing early signs of rolling over.
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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