Tech Talk for Wednesday September 4th 2019

U.S. equity index futures moved higher this morning. S&P 500 futures were up 25 points in pre-opening trade. Index futures responded to news that the extradition bill in Hong Kong has been withdrawn. The Hang Seng Index gained 3.9% in overnight trade.

Index futures were virtually unchanged following release of the July U.S. Trade Deficit at 8:30 AM EDT. Consensus was a deficit of $53.50 billion versus a deficit of $55.20 billion in June. Actual was a deficit of $54.00 billion.

The Canadian Dollar was virtually unchanged at U.S. 75.07 cents following released of the July Merchandise Trade report at 8:30 AM EDT. Consensus was a deficit of $400 million versus a surplus of $140 million in June. Actual was a deficit of $1.12 billion.

Canadian investors are watching for news on interest rates expected to be released by the Bank of Canada at 10:00 PM EDT. Consensus calls for no change at 1.75% on the rate charged to major Canadian banks by the Bank of Canada.

Michaels jumped $1.20 to $6.80 after reporting higher than consensus second quarter sales and earnings.

Navistar (NAV $21.86) is expected to open higher after reporting higher than consensus fiscal third quarter sales and earnings.

Starbucks (SBUX $96.77) is expected to open lower after the company lowered 2020 guidance.

American Eagle Outfitter dropped $1.31 to $14.96 after the company lowered guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/09/03/stock-market-outlook-for-september-4-2019/

Note seasonality charts on Silver and Construction Spending

StockTwits released yesterday @EquityClock

Gasoline ETN $UGA moved below $27.17 extending an intermediate downtrend.

Wal-Mart $WMT, a Dow Jones Industrial stock moved above $114.92 to an all-time high extending an intermediate uptrend

Thomson Reuters $TRI.CA, a TSX 60 stock moved above $92.45 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 3rd 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 3rd 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 3rd 2019

Green: Increase from previous day

Red: Decrease from previous day

Highlights for Changes in Seasonality Ratings

TSX to negative from neutral

Shanghai Composite to neutral from negative

Natural Gas to positive from neutral

Platinum to negative from neutral

TSX Financials to neutral from positive

TSX Technology to neutral from positive\

Keith Richard's Blog

Keith says, "Lions and tigers and bears: Oh my"! Following is a link:

https://www.valuetrend.ca/10917-2/

S&P 500 Momentum Barometer

The Barometer slipped 2.80 to 41.00 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer eased 2.37 to 46.98 yesterday. It remains 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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