Tech Talk for Wednesday October 6th 2021
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.
Index futures recovered slightly following release of the September ADP employment report at 8:15 AM EDT. Consensus was an increase of 430,000 versus an increase of 374,000 in August. Actual was an increase of 568,000.
Constellation Brands dropped $5.94 to $207.12 after reporting lower than consensus adjusted second quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0011-1.png "clip_image001[1]")
Peloton dropped $0.84 to $81.72 after Stifel Nicolaus lowered its target price from $140 to $120.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0021-2.png "clip_image002[1]")
FedEx fell $2.90 to $221.37 after Cowan reduced its target price from $297 to $283.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0031-1.png "clip_image003[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/10/05/stock-market-outlook-for-october-6-2021/
Technical Notes released yesterday at
Energy SPDRs $XLE moved above $55.40 extending an intermediate uptrend.
Russia ETF $RSX moved above $30.68 extending an intermediate uptrend. Responding to higher crude oil prices.
US Bancorp $USB an S&P 100 stock moved above $61.54 extending an intermediate uptrend.
Imperial Oil $IMO.CA a TSX 60 stock moved above $42.02 extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Oct.5 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Oct.5 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Oct.5 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index
The Canadian Technician
Greg Schnell focuses on the fertilizer stocks
Power In Potash? | The Canadian Technician | StockCharts.com
S&P 500 Momentum Barometers
The intermediate term Barometer added 4.81 to 33.67 yesterday. It remains Oversold and showing early signs of moving higher.
The long term Barometers added 0.60 to 68.54 yesterday. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 3.55 to 36.11 yesterday. It remains Oversold and showing early signs of moving higher.
The long term Barometer added 1.12 to 60.19 yesterday. It changed from Neutral to Overbought on a recovery above 60.00.
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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