Tech Talk for Friday January 19th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Index futures are responding to news that the House of Representatives passed a continuing resolution last night.

Fourth quarter reports continue to flow in. Companies that have reported since the close yesterday included Canadian Pacific, American Express, IBM and Schlumberger.

Alphabet gained $3.03 to 1,139.00 after KeyBanc raised its target price to $1,280 from $1,150.

Cisco increased $0.04 to $41.34 after KeyBanc raised its target price to $43 from $39.

Netflix added $1.67 to $222.00 after KeyBanc raised its target price to $270 from $230.

Nike improved $0.82 to $64.93 after Wedbush raised its rating from Neutral to Outperform.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/01/18/stock-market-outlook-for-january-19-2018/

Note seasonality charts on Housing Starts, Philly Fed Index, Crude Oil Days of Supply, Gasoline Days of Supply, Crude Oil, and KBW Bank Index.

Don Vialoux on Michael Campbell's Money Talks

Mr. Vialoux is a guest on the radio show tomorrow at approximately 9:00 AM Pacific Standard Time (Noon Eastern Time) on CKNW. Following is a link:

https://globalnews.ca/radio/cknw/?gref=cknw

Observations

Yield on 10 year Treasuries briefly touched a 3.5 year high at 2.62%..

U.S. Treasury prices extended their downside move after completing a Head & Shoulders pattern last week on a move below $105.00.

Sugar ETf moved below $26.50 reaching a 28 month low.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quietly mixed. Breakouts: $KLAC $VZ. Breakdowns: $SYMC $FMC

Editor's Note: After 10:00 AM EST, breakouts included CBS, TRV and VRSK. Breakdowns included NRG, GE and FE.

Verizon $VZ, a Dow Jones Industrial stock moved above $53.09 to an all-time high extending an intermediate uptrend.

General Electric $GE, a Dow Jones Industrial stock moved below $17.24 extending an intermediate downtrend.

TMX Group $X.CA moved above $73.54 extending an intermediate uptrend.

Constellation Software, $CSU.CA, a TSX 60 stock moved above $791.00 to an all-time high extending an intermediate uptrend.

Travelers $TRV, a Dow Jones Industrial stock moved above $137.29 to an all-time high extending an intermediate uptrend.

Tourmaline Oil $TOU.CA moved below $20.44 extending an intermediate downtrend.

#Gasoline days of supply jumping above average to start the year as production remains elevated. $UGA $RB_F $USO $CL_F

#Manufacturing conditions remain strong coming into 2018 with Philly Fed Index posting +19.4 (NSA) for January. #Economy $MACRO

#Housing starts plunge in December, falling 18.1% (NSA), well below 14.5% average decline. #Economy $MACRO $ITB $XHB

Cold winter weather providing a boost to industrial production. equityclock.com/2018/01/17/… $STUDY #Manufacturing

Trader's Corner

Daily Seasonal/Technical Equity Trends for January 18th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for January 18th 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 18th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 0.20 to 80.20 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer slipped 2.89 to 57.02 yesterday. It remains intermediate 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

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