Tech Talk for Thursday January 11th 2018

Equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST.

Consensus for Weekly Jobless Claims was a drop to 245,000 from 250,000 last week. Actual was 261,000. Consensus for December Producer Prices was an increase of 0.2% versus a gain of 0.4% in November. Actual was a decline of 0.1%. Excluding food and energy, consensus for December Producer Prices was an increase of 0.2% versus a gain of 0.3% in November. Actual was a drop of 0.1%.

Delta Airlines gained $2.01 to $57.87 after reporting higher than consensus fiscal fourth quarter sales and earnings.

Boston Scientific added $0.63 to $28.15 after receiving FDA approval for a spinal cord stimulator system.

KB Homes gained $1.53 to $35.88 after reporting higher than consensus quarterly earnings.

Prudential Financial (PRU $121.51) is expected to open higher after Atlantic Equities upgraded the stock to Overweight from Neutral.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/01/10/stock-market-outlook-for-january-11-2018/

Note seasonality charts on the U.S. REIT sector, Crude Oil Days of Supply, Gasoline Days of Supply and Crude Oil.

Observation

NAFTA jitters at 2:00 PM EST

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bearish. Breakouts: $ZION $ISRG. Breakdowns: $ADM $COST $KMB $SLG $PSA $XRAY $CCI $AEE $CMS $ETR.

Editor's Note: After 10:00 AM EST, breakouts included FITB, FIS, MS, BHF, UNM, PBCT, IPG, SBUX. Breakdowns included DLR, AIZ, AMT, MHK and INTC

Regional Bank ETF $KRE moved above $$61.00 to an all-time high extending an intermediate uptrend.

Goldcorp $GG $G.CA, a TSX 60 stock moved above US$13.64 extending an intermediate uptrend. 'Tis the season for strength to end of February!

Shaw Communications $SJR, a TSX 60 stock moved below US$22.42 completing a double top pattern.

Toromont Industries $TIH.CA moved below $54.55 extending an intermediate downtrend.

Higher interest rate! U.S. REIT iShares $IYR breaks another support level at $77.93 extending an intermediate downtrend.

Ontario minimum tax increase concerns: $QSR.CA, a TSX 60 stock moved below $76.63 extending an intermediate downtrend.

Starbucks $SBUX, a Dow Jones Industrial stock moved above $60.05 extending an intermediate uptrend.

Saputo $SAP.CA, a TSX 60 stock moved below $43.05 setting intermediate downtrend.

Intel $INTC, a Dow Jones Industrial stock moved below $42.67 completing a double top pattern.

Rogers Communications $RCI, a TSX 60 stock moved below US$49.70 extending an intermediate downtrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for January 10th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for January 10th 2018

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for January 10th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blogs

The factors to consider before buying European stock ETF's: http://www.valuetrend.ca/investing-europe-not-straight-forward-youd-think/

Canadian technology stocks: http://www.valuetrend.ca/canadian-technology-buy/

S&P 500 Momentum Barometer

S&P 500 Momentum Barometer dropped 3.80 to 79.20 yesterday. It remains intermediate overbought and showing early signs of rolling over.

TSX Momentum Barometer

TSX Momentum Barometer dropped another 2.07 to 55.19 yesterday. It remains intermediate overbought and trending down.

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

Sponsored By...