Tech Talk for Thursday September 19th 2019
Equity index futures mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Initial Jobless Claims was 210,000 versus 204,000 last week. Actual was 208,000. Consensus for September Philly Fed Index was 10.0 versus 16.8 in August. Actual was 12.0.
Microsoft gained $1.83 to $140.35 after the company increased its dividend by 11% and announced an additional $40 billion share buyback program
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0011-7.png "clip_image001[1]")
U.S. Steel dropped $0.97 to $11.48 after lowering its third quarter guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0021-7.png "clip_image002[1]")
AT&T added $0.36 to $37.12 after announcing possible sale of its DirecTV division.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0031-5.png "clip_image003[1]")
Pfizer slipped $0.16 to $36.22 after JP Morgan lowered its target price to $37 from $46.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/09/clip_image0041-4.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/09/18/stock-market-outlook-for-september-19-2019/
Note seasonality charts on 10 Year Treasury Note Futures and U.S. Housing Starts.
Observations
U.S. Brokers ETF moved above $66.42 extending an intermediate uptrend.
Market Responses to the 0.25% drop in the Fed Fund Rate
U.S. equity indices initially moved lowered after 2:00 PM EDT, but recovered by the end of the day to close virtually unchanged.
Strongest sector was U.S. Financials
The U.S. Dollar Index and its ETN moved higher
Precious metal prices moved lower.
Long term Treasury bond prices moved lower.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for September 18th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for September 18th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 18th 2019
Green: Increase from previous day
Red: Decrease from previous day
S&P Momentum Barometer
The Barometer added another 0.80 to 76.00 yesterday. It remains intermediate overbought, but has yet to show signs of peaking.
TSX Momentum Barometer
The Barometer dropped 5.60 to 65.52 yesterday. It remains intermediate overbought.
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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