Tech Talk for Wednesday October 11th 2023

Equity index futures were higher this morning. S&P 500 futures were up 12 points at 8:35 AM EDT.

Index futures added 5 points after the September Producer Price Index was released at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.7% in August. Actual was an increase of 0.5%. On a year-over-year basis, consensus was an increase of 1.6% versus a gain of 1.6% in August. Actual was an increase of 2.2%. Excluding food and energy, consensus was a gain of 0.2% versus a gain of 0.2% in August. Actual was an increase of 0.3%. On a year-over-year basis, consensus for core PPI was an increase of 2.3% versus a gain of 2.2% in August. Actual was an increase of 2.7%.

Texas Instruments dropped $2.07 to $155.59 after Oppenheimer downgraded the stock from Outperform to Perform.

Pioneer Natural Resources added $4.29 to $241.70 after Exxon Mobil agreed to purchase the company in an all-stock deal priced at $253.00 per share. Value of the offer is estimated at $59.5 billion.

Take Two Interactive gained $2.76 to $148.00 after Raymond James upgraded the stock from Market Perform to Outperform. Target is $170.

EquityClock's Daily Comment

Headline reads "Signs of upside exhaustion in the US Dollar and interest rates is allowing what can at least be considered to be an oversold bounce in stocks".

https://equityclock.com/2023/10/10/stock-market-outlook-for-october-11-2023/

Technical Notes

Alphabet $GOOG and $GOOGL, NASDAQ 100 stocks moved above $139.93 and $139.16 respectively extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.10th 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for October 10th 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 10th 2023

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Follow The MONEY! Major Buying Opportunity Emerging | Your Daily Five (10.10.23)

Follow The MONEY! Major Buying Opportunity Emerging | Your Daily Five (10.10.23) - YouTube

Are Oversold Conditions Real? The Bullish Percent Says So | Halftime by Chaikin Analytics (10.10.23)

Are Oversold Conditions Real? The Bullish Percent Says So | Halftime by Chaikin Analytics (10.10.23) - YouTube

Equities will see an upside towards the end of the year: New York Life Investments’ Lauren Goodwin

Equities will see an upside towards the end of the year: New York Life Investments’ Lauren Goodwin - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 11.80 to 11.60. It remains Oversold.

The long term Barometer plunged 19.80 to 21.60. It remains Oversold. Daily trend remains down.

TSX Momentum Barometers

The intermediate term Barometer slipped 1.33 to 16.81. It remains Oversold.

The long term Barometer dropped 13.27 to 20.35. It remains Oversold. Daily trend remains down.

Disclaimer: Seasonality ratings 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