Tech Talk for Wednesday September 30th 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news. Consensus for the September ADP Employment Report released at 8:15 AM EDT was an increase to 650,000 from an upwardly revised 481,000 in August. Actual was 749,000. Consensus for final estimate of second quarter annualized real GDP released at 8:30 AM EDT was unchanged at a drop of 31.7%. Actual was a drop of 31.4%.

The Canadian Dollar was virtually unchanged at US74.72 following release of Canada's July GDP report at 8:30 AM EDT. Consensus was an increase of 3.0% versus a gain of 6.5% in June. Actual was an increase of 3.0%

Walt Disney dropped $2.29 to $123.11 after the company laid off 28,000 employees at its theme parks.

Micron dropped $1.91 to $48.80 despite reporting higher than consensus fiscal fourth quarter revenues and earnings. First quarter guidance was less than consensus.

Regeneron advanced $10.39 to $584.00 following confirmation that its COVID 19 tests to reduce viral levels recorded encouraging results.

Canada Goose added $0.79 to $30.47 after Cowen upgraded the stock from market perform to outperform. Target was raised from $23 to $36.

EquityClock's Daily Comment

http://www.equityclock.com/2020/09/29/stock-market-outlook-for-september-30-2020/

Note seasonality chart on Respiratory Illness in the U.S.

Technical Notes for September 29th

NetEase (NTES), a NASDAQ 100 stock moved below $451.62 and $450.38 completing a short term Head & Shoulders pattern.

Trader's Corner

Daily Seasonal/Technical Equity Trends for September 29th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for September 29th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 29th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped 5.41 to 41.88 yesterday. It remained intermediate neutral.

TSX Momentum Barometer

The Barometer slipped 3.52 to 42.52 yesterday. It remained 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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