Tech Talk for Wednesday September 26th 2018

U.S. equity index futures were higher this morning. S&P futures were up 4 points in pre-opening trade.

Traders are waiting for news from the FOMC at 2:00 PM EDT. Consensus is calling for a 0.25% increase in the Fed Fund rate.

Nike (NKE $84.79) is expected to open lower despite reporting strong fiscal first quarter results.

KB Homes added $1.55 to $26.84 after reporting higher than consensus fiscal third quarter results.

Comcast (CMCSA $35.40) is expected to open higher after KeyBanc Capital raised its target price to $43 from $38.

IBM gained $2.39 to $151.30 after UBS upgraded the stock to Buy from Neutral.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/09/25/stock-market-outlook-for-september-26-2018/

Note seasonality charts on Case/Shiller Home Price Index and TSX Information/Technology Index

Observations

European ETFs trading in U.S. Dollars show technical signs of bottoming. iShares Europe briefly moved above $45.91.

Natural gas prices continue to move higher during their period of seasonal strength. Nice breakout above $3.05 per MBtu!

StockTwits Released Yesterday @EquityClock

United Kingdom iShares $EWU moved above $34.31 completing a double bottom pattern.

More strength in the energy sector! Oil services ETF $OIH moved above $25.51.

Technical action by S&P 500 stocks to 10:00: Quietly bearish. Intermediate breakouts: $HAL $BDX. Breakdowns: $WHR $MCHP $AOS $M $CTL.

Editor's Note: After 10:00 AM EDT, no additional breakouts. Additional breakdowns: XRAY, KHC, WLTW, EBAY, ED and PNW.

AMEX Biotech ETF $FBT move above $157.87 extending an intermediate uptrend.

Cott Corp. $BCB.CA moved below $19.43 extending an intermediate downtrend.

Rogers Communications $RCI.B.CA, a TSX 60 stock moved below $66.08 completing a double top pattern.

US home prices weakening compared to the pace set last year as rising inventory of homes weighs. $MACRO #Economy #Housing

Trader's Corner

Daily Seasonal/Technical Equity Trends for September 25th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 25th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 25th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped another 4.00 to 59.80 yesterday. It changed to intermediate neutral from intermediate overbought, but continues to trend down.

TSX Momentum Barometer

The Barometer dropped 2.09 to 40.17 yesterday. It remains intermediate neutral and 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

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