Tech Talk for Wednesday September 23rd 2020

Twitter (TWTR), a NASDAQ 100 stock moved above $48.42 extending an intermediate uptrend.

Western Digital (WDC), a NASDAQ 100 stock moved above $39.26 setting an intermediate uptrend.

Wheaton Precious Metals (WPM), a TSX 60 stock moved below US$48.42 completing a double top pattern.

Ditto for another silver stock! Pan American Silver (PAAS) moved below US$31.79 completing a double top pattern.

Pre-opening Comments for Wednesday September 23rd

U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.

Nike advanced $10.23 to an all-time high at $127.10 following release of higher than consensus fiscal first quarter revenues and earnings. Target on the stock was raised by JP Morgan, Wedbush, Stifel Nicolaus and Deutsche Bank.

KB Homes gained $0.53 to an all-time high at $41.03 after reporting higher than consensus fiscal third quarter revenues and earnings. Target on the stock was raised by JP Morgan and Wedbush.

Lululemon gained $8.14 to $321.74 after the company announced plans to restart its share buyback program

Johnson & Johnson advanced $3.78 to $147.99 after the company entered Phase 3 trials for its single dose COVID 19 vaccine.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/09/22/stock-market-outlook-for-september-23-2020/

Note seasonality chart on Existing Home Sales.

Technical Notes for Tuesday September 22nd

The U.S. Dollar Index and its related ETN: UUP completed a short term Reverse Head & Shoulders pattern on a move above 25.33

Conversely, the Euro completed a short term Head & Shoulders pattern on a move below 117.54.

CDW Corp (CDW), a NASDAQ 100 stock moved below $108.27 setting an intermediate downtrend.

Metro (MRU), a TSX 60 stock moved above $61.27 to an all-time high extending an intermediate uptrend.

Zoom (ZM), a NASDAQ 100 stock moved above $478.00 to an all-time high extending an intermediate uptrend.

VALE (VALE), one of the largest base metal companies in the world moved below $10.54 completing a double top pattern.

Coffee ETN (JJOFF) moved below intermediate support at $9.25.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for September 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 3.81 to 37.88 yesterday. It remains intermediate oversold.

TSX Momentum Barometer

The Barometer added 4.97 to 44.02 yesterday. It changed back from intermediate oversold to intermediate neutral on a return to above 40.00.

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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