Tech Talk for Wednesday January 2nd 2019
Pre-opening Comments for Wednesday January 2nd
U.S. equity index futures were lower this morning. S&P 500 futures were down 42 points in pre-opening trade.
Netflix dropped $5.69 to $267.66 after Sun Trust lowered its target price to $3.55 to $410.
Aflac (AFL $) is expected to open lower after JP Morgan downgraded the stock to Neutral from Overweight.
Amazon dropped $32.72 to $1469.25 after Evercore lowered its target price to $1800 from $1990.
Bausch Health (BHC $25.25 Cdn.) is expected to open higher after Piper Jaffray upgraded the stock to Overweight from Neutral.
Don Vialoux on Berman's Call
Following are links:
Outlook for early 2019
https://www.bnnbloomberg.ca/video/oversold-levels-show-us-where-we-are-going-in-2019-vialoux~1575580
Calls questions from viewers
https://www.bnnbloomberg.ca/video/don-vialoux-takes-your-calls~1575582
Education Section: Seasonality in a U.S. Presidential Midterm Election Year
https://www.bnnbloomberg.ca/video/the-effects-of-seasonality-on-a-pre-election-year~1575590
Observations
The Japanese Yen continues to surge. The Yen is highly correlated with the price of gold.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for December 31st 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for December 31st 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for December 31st 2018
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
By David Chapman from www.EnrichedInvesting.com
StockTwits Released on Monday
Technical action by S&P 500 stocks to 2:00 PM: Nil
Editor's Note: After 2:00 PM EST, one stock broke intermediate resistance and none broke support.
S&P 500 Momentum Barometer
The Barometer added another 3.80 to 11.80 on Monday. It continues to recover from a deeply intermediate oversold level.
TSX Momentum Barometer
The Barometer added another 3.70 to 27.98 on Monday. It continues to recover from an intermediate oversold level.
http://www.equityclock.com/about/seasonal-advantage-portfolio/
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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