Tech Talk for Wednesday September 22nd 2021

U.S. equity index futures were higher this morning. S&P 500 futures were up 24 points in pre-opening trade.

Index futures were relatively quiet prior to release of the Federal Reserve's statement on the Fed Fund rate at 2:00 PM EDT. Consensus is that the Federal Reserve will maintain its current fixed income purchase program without tapering.

FedEx dropped $7.89 to $244.50 after the company reported less than consensus fiscal first quarter earnings. The company also issued guidance below consensus. Target price was reduced by JP Morgan and Cowen.

Adobe fell $21.20 to $624.60 after the company issued fourth quarter guidance below consensus.

General Mills added $1.46 to $59.47 after the company reported higher than consensus fiscal first quarter sales and earnings.

Netflix added $2.59 to $575.73 after Stifel Nicolas raised its target price from $580 to $650.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/09/21/stock-market-outlook-for-september-22-2021/

Tony Dwyer Prediction

Stocks will break out of trouble and hit new record highs, market bull Tony Dwyer predicts

Following is a link:

https://www.cnbc.com/2021/09/21/stocks-will-break-out-of-trouble-and-hit-new-record-highs-tony-dwyer.html

Technical Notes released yesterday at

StockTwits.com@EquityClock

Time to buy this short-term oversold extreme? equityclock.com/2021/09/20/… $SPX $SPY $ES_F

PACCAR $PCAR a NASDAQ 100 stock moved below $78.90 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 21st 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 21st 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 21st 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

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 1.80 to 30.26 yesterday. It remains Oversold and continues to trend down.

The long term Barometer slipped 1.60 to 65.53 yesterday. It remains Overbought and continues to trend down.

TSX Momentum Barometers

The intermediate term Barometer added 7.02 to 45.37 yesterday. It changed back from Oversold to Neutral on a recovery above 40.00.

The long term Barometer added 1.28 to 64.39 yesterday. It remains Overbought.

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