Tech Talk for Wednesday September 25th 2019

U.S. equity index futures moved lower this morning. S&P 500 futures were down 2 points in pre-opening comments. Index futures responded to launch of an impeachment inquiry by the House of Representatives.

Nike gained $5.37 to an all-time high at $92.55 after the company reported higher than consensus fiscal first quarter earnings. Stifel Nicolaus raise its target price to $106 form $96.

Philip Morris jumped $3.71 to $75.27 after ending merger talks with Altria.

Comcast added $0.09 to $45.80 after Benchmark initiated coverage with a Buy rating and a $64 target.

Raymond James upgraded home builders stocks to Outperform from Market Perform included Toll Brothers, Lennar and KB Homes

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/09/24/stock-market-outlook-for-september-25-2019/

Note seasonality chart on the Case/Shiller 20 City Home Price Index

StockTwits released yesterday @EquityClock

BlackBerry $BB $BB.CA, a TSX 60 stock moved below $8.84 Cdn and $6.64 U.S. extending an intermediate downtrend. The company reported lower than consensus fiscal second quarter revenues.

Amazon $AMZN, a NASDAQ 100 stock moved below $1,743.51 extending an intermediate downtrend

Trader's Corner

Editor's Note: Lots of short term technical deterioration yesterday. Note red

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 24th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 24th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 24th 2019

Green: Increase from previous day

Red: Decrease from previous day

Keith Richard's Blog

Keith says, "Weak technical along with weak seasonality can be a bearish signal for the Loonie".

Following is the link:

https://www.valuetrend.ca/bearish-on-the-loonie/

S&P 500 Momentum Barometer

The Barometer dropped 5.40 to 66.80 yesterday. It remains intermediate overbought and rolling over.

TSX Momentum Barometer

The Barometer dropped 2.60 to 68.40 yesterday. It remains intermediate 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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