Tech Talk for Friday September 27th 2019

Equity index futures moved higher this morning. S&P 500 futures were up 8 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for August Durable Goods Orders was a drop of 1.2% versus a gain of 2.0% in July. Actual was an increase of 0.2. Excluding Transportation Orders, consensus for August Durable Goods Orders was an increase of 0.3% versus a gain of 0.6% in July. Actual was an increase of 0.5%. Consensus for August Personal Income was an increase of 0.4% versus a gain of 0.1% in July. Actual was an increase of 0.4%. Consensus for August Personal Spending was an increase of 0.3% versus a revised gain of 0.5% in July. Actual was an increase of 0.1.

Micron dropped $2.62 to $48.60 after fiscal first quarter earnings were less than consensus. In addition, the company lowered guidance.

Lockheed Martin (LMT $392.92) is expected to open higher after raising its dividend. The company also announced an additional $1 billion share buyback.

Las Vegas Sands (LVS $55.88) is expected to open higher after the stock was added to the S&P 500 Index.

Carnival dropped $0.77 to $43.18 after SunTrust, JP Morgan, Stifel Nicolaus and Wedbush lowered their target price on the stock.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/09/26/stock-market-outlook-for-september-27-2019/

Observations

Interest sensitive U.S. real estate investment trusts continue to advance to new highs

Bitcoin broke below support at 9506 completing a complex topping pattern.

U.S. Dollar Index ETN moved above $27.01 to an all-time high.

The Euro moved below109.27 to a two year low.

StockTwits released yesterday @EquityClock

Teck Corp. $TECK.B.CA $TECK, a TSX 60 stock moved below $21.46 Cdn and $16.15 U.S. extending an intermediate downtrend

Conagra $CAG moved above $30.85 on higher than consensus fiscal first quarter earnings extending an intermediate uptrend.

UnitedHealth Group $UNH, a Dow Jones Industrial stock moved below $219.74 extending an intermediate downtrend

Walt Disney $DIS , a Dow Jones Industrial stock moved below $131.02 completing a Head & Shoulders pattern

Healthcare Providers iShares $IHF moved below $161.27 extending an intermediate downtrend

Cognizant Tech $CTSH, a NASDAQ 100 stock moved below $59.20 extending an intermediate downtrend

NASDAQ Biotech iShares $IBB moved below $100.29 extending an intermediate downtrend.

Editor's Note: Other biotech ETFs that broke intermediate support included FBT, BBH and XBI

Fortis $FTS.CA, a TSX 60 stock moved above $56.62 to an all-time high extending an intermediate uptrend

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 26th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 26th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 26th 2019

Green: Increase from previous day

Red: Decrease from previous day

Keith Richard's Blog

Headline reads, "It's the economy, stupid: what an impeachment may mean to the markets". Following is a link:

https://www.valuetrend.ca/its-the-economy-stupid-what-an-impeachment-may-mean-to-the-markets/

S&P 500 Momentum Barometer

The Barometer dropped 1.46 to 68.54 yesterday. It remains intermediate overbought and rolling over.

TSX Momentum Barometer

The Barometer dropped 1.73 to 65.80 yesterday. It remains intermediate overbought and rolling over.

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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