Tech Talk for Thursday January 19th 2023

U.S. equity index futures were lower this morning. S&P 500 futures were down 29 points at 7:30 AM EST.

Two economic reports are released this morning at 8:30 AM EST. December Housing Starts are expected to drop to 1.385 million units from 1.427 million units in November.

January Philly Fed Index is expected to improve to -11.0 from -13.8 in December.

Allstate dropped $3.43 to $129.00 after noting that fourth quarter results were impacted by major winter storms.

Fastenal added $1.31 to$48.85 after the company raised its quarterly dividend from $0.31 to $0.35.

Alcoa dropped $2.95 to $50.50 after the company reported a fourth quarter loss.

HB Fuller plunged $2.58 to $69.25 after the company reported lower than consensus fourth quarter revenues. The company also lowered its outlook for fiscal 2023

EquityClock's Daily Comment

Headline reads "Intermediate treasury bond ETF has moved above its 200-day moving average for the first time since December of 2021".

http://www.equityclock.com/2023/01/18/stock-market-outlook-for-january-19-2023/

Technical Notes

North American equity markets opened stronger, but quickly came under selling pressures when traders took a closer look at the drop in U.S. December retail sales.

TSX 60 Capped iShares $XIC.TO briefly moved above $32.71 in early trading completing a reverse Head & Shoulders pattern.

Japan iShares $EWJ moved above $56.62 and $57.19 completing a reverse Head & Shoulders pattern.

Frontier iShares $FM moved above $26.91 setting an intermediate uptrend.

eBay $EBAY a NASDAQ 100 stock moved above $46.89 extending an intermediate uptrend.

Altria $MO an S&P 100 stock moved below $44.99 completing a double top pattern.

Wal-mart $WMT an S&P 100 stock moved below$140.81 setting an intermediate downtrend.

Keurig Dr. Pepper $KDP a NASDAQ 100 stock moved below $34.95 extending an intermediate downtrend.

Mondelez $MDLZ a NASDAQ 100 stock moved below $64.90 extending an intermediate uptrend.

Royal Bank $RY.TO a TSX 60 stock moved above Cdn$135.69 extending an intermediate uptrend.

Restaurant Brands International $QSR.TO a TSX 60 stock moved below $87.23 completing a short term Head & Shoulders pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 18th 2023

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 18th 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 18th 2023

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Link offered by Mark Bunting and www.uncommonsenseinvestor.com

Top Lithium Pick Could Gain 50%+ As It Nears Production – Uncommon Sense Investor

Greg Schnell says "Semiconductors like to lead".

Semiconductors Like To Lead | Greg Schnell, CMT | Market Buzz (01.18.23) - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer plunged 15.80 to 60.00. It remains Overbought.

The long term Barometer dropped 5.40 to 59.80. It changed from Overbought to Neutral on a drop below 60.00.

TSX Momentum Barometers

The intermediate term Barometer slipped 2.97 to 74.58. It remains Overbought.

The long term Barometer slipped 2.54 to 66.95. It remains Overbought.

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