by Don Vialoux, Timing the Market
Pre-opening Comments for Friday September 12th
U.S. equity index futures were mixed this morning. S&P 500 futures were down 1 point in pre-opening trade.
Index futures were unchanged following release of the August Retail Sales report. Consensus was an increase of 0.6% versus an upwardly revised increase of 0.3% in July. Actual was a gain of 0.6%. Excluding auto sales, consensus for August Retail Sales was an increase of 0.3% versus an upwardly revised increase of 0.3% in July. Actual was a gain of 0.3%.
Carnival Corp (CCL $39.17) is expected to open higher after Shore upgraded the stock from Hold to Buy.
Netflix gained $2.89 to $484.45 after Barclays upgraded the stock from Underperform to Equal Weight.
Sprint Nextel gained $0.38 to $6.95 after Cowen upgraded the stock from Market Perform to Outperform.
EquityClock.com’s Daily Market Comment
Following is a link:
http://www.equityclock.com/2014/09/11/stock-market-outlook-for-september-12-2014/
Interesting Charts
Interesting outside reversal move by crude oil on rising volume yesterday! Likely short term low.
Metals are breaking support levels
Monitored Technical/Seasonal Trade Ideas
A security must have a Technical Score of 1.5 – 3.0 to be on this list.
Green: Increased Technical Score
Red: Reduced Technical Score
StockTwits Yesterday
Exceptionally slow technical action by S&P 500 stocks to 10:30 AM. One stock broke support: $AN and none broke support.
Technical Action by Individual Equities Yesterday
By the close, five S&P 500 stocks had broken resistance (LEN, TWC,CRM, HCBK, ABBV) and two stocks had broken support (AN, SBUX).
Weekly Technical Review of Select Sector SPDRs
Summary of Weekly Seasonal/Technical Parameters for SPDRs
Key:
Seasonal: Positive, Negative or Neutral on a relative basis applying EquityClock.com charts
Trend: Up, Down or Neutral
Strength relative to the S&P 500 Index: Positive, Negative or Neutral
Momentum based on an average of Stochastics, RSI and MACD: Up, Down or Mixed
Twenty Day Moving Average: Above, Below
Green: Upgrade from last week
Red: Downgrade from last week
Technology
· Intermediate trend remains up (Score: 1.0)
· Units remain above their 20 day moving average (Score: 1.0)
· Strength relative to the S&P 500 Index changed to positive from negative (Score: 1.0)
· Technical score increased to 3.0 from 2.0 out of 3.0.
· Short term momentum indicators are trending down.
Materials
· Intermediate trend remains up.
· Units fell below their 20 day moving average
· Strength relative to the S&P 500 Index remains negative
· Technical score fell to 1.0 from 2.0 out of 3.0
· Short term momentum indicators are trending down.
Industrials
· Intermediate trend remains down
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index remains neutral.
· Technical score remains at 1.5 out of 3.0.
· Short term momentum indicators are trending down.
Consumer Discretionary
· Intermediate trend remains up.
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index changed to negative from positive
· Technical score fell to 2.0 from 3.0 out of 3.0
· Short term momentum indicators are trending down.
Financials
· Intermediate trend remains up.
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index remains positive
· Technical score remains at 3.0 out of 3.0.
Energy
· Intermediate trend remains down.
· Units remain below their 20 day moving average
· Strength relative to the S&P 500 Index remains negative
· Technical score remains at 0.0 out of 3.0.
· Short term momentum indicators are trending down.
Consumer Staples
· Intermediate trend changed to up from down on a move above $45.51
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index changed to positive from neutral.
· Technical score improved to 3.0 from 1.5 out of 3.0
· Short term momentum indicators are trending down.
Health Care
· Intermediate trend remains up.
· Units remain above its 20 day moving average
· Strength relative to the S&P 500 Index remains positive
· Technical score remained at 3.0 out of 3.0.
· Short term momentum indicators are trending up, but over bought and showing early signs of peaking.
Utilities
· Intermediate trend remains neutral
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index changed to neutral from positive.
· Technical score slipped to 2.0 from 2.5 out of 3.0
· Short term momentum indicators are trending down.
Special Free Services available through www.equityclock.com
Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices. To login, simply go to http://www.equityclock.com/charts/
Following is an example
FUTURE_HG1 Relative to the S&P 500 |
FUTURE_HG1 Relative to Gold |
Disclaimer: Comments, charts and opinions offered in this report by www.timingthemarket.ca and 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. Don and Jon Vialoux are Research Analysts with Horizons ETFs Management (Canada) Inc. All of the views expressed herein are the personal views of the authors and are not necessarily the views of Horizons ETFs Management (Canada) Inc., although any of the recommendations found herein may be reflected in positions or transactions in the various client portfolios managed by Horizons ETFs Management (Canada) Inc.
Individual equities mentioned in StockTwits are not held personally or in HAC.
Horizons Seasonal Rotation ETF HAC September 11th 2014
Copyright © Don Vialoux, Jon Vialoux, Brooke Thackray
