Tech Talk for Thursday October 13th 2022

U.S. equity index futures were higher at 7:30 AM EDT. S&P 500 futures were up 22 points in pre-opening trade.

Traders were waiting for the September Consumer Price Report at 8:30 AM EDT. Consensus is an increase of 0.2% versus a gain of 0.1% in August. On a year-over-year basis, consensus is an increase of 8.1% versus a gain of 8.3% in August. Excluding food and energy, consensus is an increase of 0.5% versus a gain of 0.5% in August. On a year-over-year basis, consensus for core CPI is an increase of 6.5% versus a gain of 6.3% in August.

Applied Materials dropped $1.01 to 75.00 after the company reduced its outlook due to new restrictions to sell its services in China.

Victoria's Secret added $1.00 to 33.50 after the company offered favourable guidance for third quarter results.

Delta Airlines added $1.34 to $30.55 after reporting higher than consensus third quarter results.

EquityClock's Daily Comment

Headline reads "Producer prices are curling back higher following a summer of declines, keeping inflationary pressures in the economy stubbornly intact".

http://www.equityclock.com/2022/10/12/stock-market-outlook-for-october-13-2022/

Technical Notes for yesterday

Cameco $CCO.TO $CCJ moved below intermediate support at Cdn.$33.53 and US$24.66 after announcing a joint venture with Brookfield Renewable Partners in a deal valued at $7.88 billion. In order to finance the deal, Cameco sold shares at below previous market prices. Result is short term pain (dilution) for long term gain (growth).

Global X Uranium ETF $URA, an fund heavily weighted in Cameco broke intermediate support at U.S. $18.83 setting an intermediate downtrend.

Match $MTCH a NASDAQ 100 stock moved below $45.99 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 12th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 12th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 12th 2021

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Link from Mark Bunting and www.uncommonsenseinvestor.com

Loss of Capital vs. Permanent Loss of Capital – Uncommon Sense Investor

Larry Williams says "Down, then Up, up and away, finally")

Up, Up & Away | Larry Williams Special Presentation (10.12.22) - YouTube

Greg Schnell asks "Metals on the move"?

https://www.youtube.com/watch?v=xvpM6rAS8f4

S&P 500 Momentum Barometers

The intermediate term Barometer slipped another 1.00 to 10.80 yesterday. It remains Oversold.

The long term Barometer eased 0.20 to 16.40 yesterday. It remains Oversold.

TSX Momentum Barometers

The intermediate term Barometer added 2.54 to 26.69 yesterday. It remains Oversold.

The long term Barometer added 2.12 to 23.73 yesterday. It remains Oversold.

Disclaimer: Seasonality ratings 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