Tech Talk for Wednesday September 12th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 2 points in pre-opening trade.

Index futures were virtually unchanged following release of August Producer Prices. Consensus was a gain of 0.2% versus no change in July. Actual was down 0.1%. Excluding food and energy, consensus was a gain of 0.2% versus an increase of 0.2% in July. Actual was a decline of 0.1%.

Apple added $0.75 to $224.60 prior to launch of new products later today.

Snap dropped $0.46 to $9.43 after Jefferies and BTIG downgraded the stock an lowered their target price.

Bausch Health (formerly Valeant Pharma) gained $1.69 to $22.36 on news of a patent settlement.

FedEx (FDX $249.36) is expected to open higher after the company announced plans to expand its ground operations to six days a week to accommodate its growing e-commerce business.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/09/11/stock-market-outlook-for-september-12-2018/

Note seasonality charts on 30 Year Treasury Bond Futures, Job Openings, Wholesale Sales and Wholesale Inventories.

Observations

Today is Apple's annual new product launch day. Look for lots of exciting new products and services. The stock has moved smartly higher in anticipation of the event and closed just below its all-time high yesterday. A word of caution! The stock has a history of moving higher prior to this event followed by a sell-off during the next three weeks.

Here comes Hurricane Florence!

StockTwits Released Yesterday @EquityClock

Chinese ETFs and funds trading in U.S. Dollars break to new lows extending an intermediate downtrend.

Editor's Note: They followed the Shanghai Composite Index to a new low

Steel ETF $SLX moved below $42.37 extending an intermediate downtrend.

Badger Daylighting $BAD.CA moved below $27.57 completing a double top pattern.

Technical action by S&P 500 stocks to 10:00. Bearish. Intermediate breakout: $RHI. Breakdowns: $GPS $TRV $XRAY $INTC $TXN $EMN $LYB

Intel $INTC, a Dow Jones Industrial stock moved below $46.19 and $46.15 extending an intermediate downtrend.

CAE Inc. $CAE.CA moved above $26.91 resuming an intermediate uptrend.

Job Openings rebound to highs of year, powered by gains in manufacturing, transportation, and business services. $MACRO #JOLTS #Employment

Trader's Corner

Equities and Related ETFs

Daily Seasonal/Technical Equity Trends for September 11th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 11th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 11th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 1.00 to 66.60 yesterday. It remains intermediate overbought and rolling over.

TSX Momentum Barometer

The Barometer gained 2.94 to 40.75 yesterday. It changed to intermediate neutral from intermediate oversold, but continues to trend down .

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

Sponsored By...