Tech Talk for Wednesday October 13th 2021
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.
Index futures were virtually unchanged following release of the September Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.3% in August. Actual was an increase of 0.4%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.1% in August. Actual was an increase of 0.2%.
JP Morgan added $0.91 to $166.27 after reporting higher than consensus third quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0011-5.png "clip_image001[1]")
Blackrock gained $11.04 to $847.23 after reporting higher than consensus third quarter revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0021-7.png "clip_image002[1]")
Apple slipped $0.75 to 140.77 after announcing that a chip shortage may impede iPhone production.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0031-5.png "clip_image003[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/10/12/stock-market-outlook-for-october-13-2021/
Technical Notes released yesterday at
Base metals stocks continue to advance. HudBay Minerals $HBM.CA moved above $8.39 completing a double bottom pattern.
BMO Equal Weighted Base Metals ETF $ZMT.CA moved above Cdn$53.32 setting an intermediate uptrend.
Access to seasonality charts is available for subscribers of www.EquityClock.com
Lumber stocks finally are responding to completion of a reverse Head & Shoulders pattern by spot lumber futures on Friday. West Fraser Timber $WFG moved above Cdn$110.21 to an all-time high extending an intermediate uptrend.
Access to seasonality charts is available to www.EquityClock.com subscribers
Soybean ETN $SOYB moved below $21.27 completing a double top pattern.
Coffee ETN $JJOFF moved above $17.80 extending an intermediate uptrend.
Comcast $CMCSA an S&P 100 stock moved below $53.21 and $52.00 extending an intermediate downtrend.
Micron $MU a NASDAQ 100 stock moved below $68.71 extending an intermediate downtrend
TC Energy $TRP.CA a TSX 60 stock moved above $63.64 extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Oct.12th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Oct.12th 021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Oct.12th 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index
(except TSX)
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.80 to 37.47 yesterday. It remains Oversold.
The long term Barometer eased 0.80 to 65.53. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 0.93 to 42.99 yesterday. It remains Neutral
The long term Barometer was unchanged yesterday at 61.68. It remains 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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