Tech Talk for Wednesday September 11th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.
Index futures were virtually unchanged following released of the August Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 0.2% in July. Actual was an increase of 0.1%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.1% in July. Actual was an increase of 0.3%.
The Hong Kong Exchange has offered to purchase the London Exchange in a cash and share deal valued at $36.6 billion.
Philip Morris added $1.20 to $74.50 after the company increased its dividend.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0011-3.png "clip_image001[1]")
Costco dropped $2.40 to $294.60 after Oppenheimer downgraded the stock to Perform from Outperform
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0021-3.png "clip_image002[1]")
Micron added $0.91 to $50.30 after Longbow upgraded the stock to Buy from Neutral.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0031-3.png "clip_image003[1]")
ADP gained $0.11 to $164.44 after Bank of America/Merrill upgraded the stock to Buy from Neutral.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0041-2.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/09/10/stock-market-outlook-for-september-11-2019/
Note seasonality charts on the Baltic Dry Index and U.S. Job Openings.
StockTwits released yesterday @EquityClock
McDonalds $MCD, a Dow Jones Industrial stock moved below $213.89 completing a double top pattern.
Starbucks $SBUX, a Dow Jones Industrial stock moved below $92.68 completing a double top pattern
PayPal $PYPL, a NASDAQ 100 stock moved below $102.21 completing a Head & Shoulders pattern.
VeriSign $VRSN, a NASDAQ 100 stock moved below $198.54 setting an intermediate downtrend.
U.S. Gold Equity ETF $GDX moved below $27.61 completing a double top pattern.
Commerce Bank $CM.CA, a TSX 60 stock moved above intermediate resistance at $104.89
Waste Connections $WCN.CA, a TSX 60 stock moved below $117.01 extending an intermediate downtrend
Dollarama $DOL.CA, a TSX 60 stock moved below intermediate support at $47.77.
Restaurant Brands International $QSR.CA, a TSX 60 stock moved below $95.95 completing a double top pattern.
Husky Energy $HSE.CA, a TSX 60 stock moved above $9.40 completing a base building pattern.
Walgreen Boots $WBA, a Dow Jones Industrial stock moved above $56.43 completing a double bottom pattern.
Home Builders SPDRs $XHB moved above $42.90 extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for September 10th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for September 10th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 10th 2019
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer added 2.00 to 65.00 yesterday. It remains intermediate overbought, but continues to trend up.
TSX Momentum Barometer
The Barometer added 2.15 to 58.19 yesterday. It remains intermediate neutral.
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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