Tech Talk for Wednesday October 10th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.

Index futures were virtually unchanged following release of the September Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a decline of 0.1% in August. Actual was. Excluding food and energy, consensus for the September Producer Price Index was an increase of 0.2% versus a decline of 0.1% in August. Actual was an increase of 0.2%

Fastenal (FAST $55.64) is expected to open higher after reporting higher than consensus third quarter sales and earnings.

McDonald's (MCD $169.83) is expected to open higher after Guggenheim upgraded the stock to Buy from Neutral. Target is $200.

Yum Brands (YUM $91.18) is expected to open higher after BTIG raised its target price to $102 from $92.

Serius (SIRI $) is expected to open higher after the company raised its dividend by 10%.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/10/09/stock-market-outlook-for-october-10-2018/

Note seasonality charts on the Materials sector, Technology sector, Dow Jones Transportation Average and TSX Financials Index.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bearish. Breakouts: $CMS $FE $ES. Breakdowns: $KR $BLK $MS $ROP $PPG $SHW

Editor's Note: After 10:00 AM EDT, breakouts included BRK.B, KMI, COG ESRX, TRIP, XEC, RIG and MCK. Breakdown: DWDP and SWK

Utilities SPDRs $XLU moved above $54.45 extending an intermediate uptrend.

Materials SPDRs $XLB moved below support at $56.74

Auto ETF $CARX moved below $34.76 extending an intermediate downtrend.

Europe iShares $IEV moved below $43.33 extending an intermediate downtrend.

National Bank $NA.CA, a TSX 60 stock moved below $63.60 completing a double top pattern.

Cdn. National Resources $CNQ.CA, a TSX 60 stock moved below $40.71 and $40.45 extending an intermediate downtrend.

CGI Group $GIB.CA $GIB, a TSX 60 stock moved below $81.01 Cdn. extending an intermediate downtrend.

Cascades $CAS.CA move below $11.26 extending an intermediate downtrend.

Obsidian Energy OBE.CA moved below $1.15 extending an intermediate downtrend.

Berkshire Hathaway $BRK.B, a Dow Jones Industrial stock moved above $223.00 to an all-time high extending an intermediate uptrend.

Don Vialoux on Michael Campbell's 'Money Talks'

Following is a link:

http://moneytalks.net/article-and-commentary/michael-campbell/interview-of-the-week/22287-knowing-the-best-time-to-invest-has-returned-an-average-of-over-16-since-1929.html'’

Technical Scoop

David Chapman from Enriched Investing talks about, "The Music still plays with division, Jumping rates, Teetering Italy, Defiant numbers and Rising Dollar and Gold"

Following is a link:

http://www.enrichedinvesting.com/PDF/Music-Still-Plays-with-Division-Jumping-Rates-Teetering-Italy-Defiant-Numbers-and-Rising-Dollar-and-Gold.pdf

Trader's Corner

Daily Seasonal/Technical Equity Trends for October 9th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 9th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 9th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The S&P 500 Barometer dropped another 1.80 to 48.00 yesterday. It remains intermediate neutral and trending down.

TSX Momentum Barometer

The TSX Barometer dropped another 1.26 to 24.79 yesterday. It remains intermediate oversold, but has yet to show signs of bottoming.

Tired of seeing your seasonal fund remain stagnant when seasonally favoured sectors move higher? Consider switching to the Seasonal Advantage Portfolio http://www.equityclock.com/About/Seasonal-Advantage-Portfolio/ ... #SeasonalInvestingDoneRight

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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