Tech Talk for Thursday October 5th 2023
U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points at 8:35 AM EDT.
Index futures dropped 8 points following release of the U.S. August Trade Report at 8:30 AM EDT. Consensus was a deficit of $65.10 billion versus a deficit of $65.00 billion in July. Actual was a deficit of $58.3 billion.
Colgate dropped $6.01 to $125.82 after the company warned that a cyberattack will impact fiscal first quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/10/clip_image0011-2.png "clip_image001[1]")
Rivian Automotive dropped $1.64 to $22.05 after the company announced plans to offer a $1.5 billion convertible note.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/10/clip_image0021-3.png "clip_image002[1]")
BlackBerry added $0.20 to US$4.47 after the company announced plans for an IPO on its IoT business.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/10/clip_image0031-2.png "clip_image003[1]")
Merck gained $0.24 to $102.41 after the company reported positive results on a treatment for bladder cancer.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/10/clip_image0041-3.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "A sharp downfall of gasoline demand emphasizes how discerning consumers have become amidst growing adversities".
https://equityclock.com/2023/10/04/stock-market-outlook-for-october-5-2023/
Technical Notes
South Africa iShares $EZA moved below $36.02 extending an intermediate downtrend.
Oil Services ETF $OIH moved below intermediate support at $325.86
Global Base Metals iShares $XBM.TO moved below $17.87 extending an intermediate downtrend. Base Metals iShares $PICK moved below $38.25 setting an intermediate downtrend.
U.S. Telecommunications iShares $IYZ moved below $20.69 extending an intermediate downtrend.
Fox Corp $FOXA an S&P 100 stock moved below $36.02 extending an intermediate downtrend.
Pembina Pipelines $PPL.TO a TSX 60 stock moved below Cdn$39.07 extending an intermediate downtrend.
Toronto Dominion Bank $TD.TO a TSX 60 stock moved below intermediate support at Cdn$78.76.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Oct.4th 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for October 4th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 4th 2023
Green: Increase from previous day
Red: Decrease from previous day
Link offered by valued providers
How Market Breadth Indicators Can Lead You Out of Market Bottoms | The Final Bar (10.04.23)
https://www.youtube.com/watch?v=7Xja9sUdIoY
S&P 500 Momentum Barometers
The intermediate term Barometer added 2.60 to 11.20. It remains Oversold.
The long term Barometer added 1.20 to 37.40. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer dropped 3.96 to 11.89. It remains Oversold. Daily downtrend was extended.
The long term Barometer added 0.88 to 29.07. 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
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