Tech Talk for Wednesday January 23rd 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade.

The Canadian Dollar slipped 0.07 to 75.04 cents U.S. following release of Canadian November Retail Sales at 8:30 AM EST. Consensus was a decrease of 0.6%. Actual was a drop of 0.9%.

IBM gained $9.53 to $132.05 after reporting higher than consensus fourth quarter sales and earnings.

Tesla fell $4.09 to $294.83 after RBC downgraded the stock to Under Perform from Sector Perform. Target price was reduced to $245 from $290.

Procter & Gamble added $3.11 to $93.67 after reporting higher than consensus fiscal second quarter earnings.

United Technologies gained $3.69 to $114.75 after reporting higher than consensus fourth quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/01/22/stock-market-outlook-for-january-23-2019/

Note seasonality charts on Existing Home Sales and Manufactured Goods Sales

StockTwits Released Yesterday

Technical action by S&P 500 stocks to 10:15: Quiet. No intermediate breakouts. Breakdown: $MO.

Editor's Note: No additional breakouts or breakdowns after 10:15 AM EST.

Canada Manufacturing Sales down 2.8% (NSA) in November, weaker than the 2.6% average decline for the month. $MACRO #CDNecon #CAD

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 22nd 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 22nd 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 22nd 2019

Green: Increase from previous day

Red: Decrease from previous day

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S&P 500 Momentum Barometer

Percent of S&P 500 stocks trading above their 50 day moving average reached 72.80 yesterday. It remains intermediate overbought, but trending up.

TSX Momentum Barometer

Percent of TSX stocks trading above their 50 day moving average dipped 5.60 to 73.73 yesterday. It remains intermediate overbought, but trending up.

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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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