Tech Talk for Friday October 8th 2021
U.S. equity index futures were higher this morning. S&P 500 index futures were up 11 points in pre-opening trade.
Index futures were virtually unchanged following release of the September Employment Report at 8:30 AM EDT. Consensus for September Non-farm Payrolls was an increase of 460,000. Actual was an increase of 194,000. Consensus for the September Unemployment Rate was a slip to 5.1% from 5.2% in August. Actual was a drop to 4.8% Consensus for September Hourly Earnings was an increase of 0.4% versus a gain of 0.6% in August. Actual was an increase of 0.6%.
The Canadian Dollar increased 0.21 to US80.00 cents following release of Canada's September Employment Report at 8:30 AM EDT. Consensus was a 60,000 gain in employment versus a 90,200 increase in August. Actual was a gain of 157,100. Consensus for the September Unemployment Rate was a decrease to 6.9% from 7.1% in August. Actual was 6.9%.
Union Pacific added $2.33 to $214.21 after JP Morgan upgraded the stock from Neutral to Overweight. Target was increased from $234 to $247
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0011-3.png "clip_image001[1]")
Tilray slipped $0.11 to $10.91 after Stifel Nicolaus lowered its target price from $11.50 to $10.00.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0021-4.png "clip_image002[1]")
Citigroup added $0.31 to $72.50 after JP Morgan raised its target price from $76.00 to $80.50
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0031-3.png "clip_image003[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/10/07/stock-market-outlook-for-october-8-2021/
Editor's Note
Although Monday is a holiday (Thanksgiving) in Canada and a partial holiday in the U.S., Tech Talk will appear as usual.
Technical Notes released yesterday at
Dow Jones Industrial Average $DJIA moved above its 20 day moving average at 34,466.92 and its 50 day moving average at 34,917.24
S&P/TSX Composite Index $TSX moved above its 20 day moving average at 20,359.79 and its 50 day moving average at 20,446.02
An encouraging technical sign for the base metals sector! Rio Tinto $RIO, the world’s largest base metals producer moved above $67.91 completing a short term double bottom pattern.
Access to seasonality charts is available for subscribers to www.EquityClock.com
Base Metals iShares XBM.CA moved above Cdn$17.35 completing a short term double bottom pattern.
Access to seasonality charts is available for subscribers to www.EquityClock.com
Financial SPDRs $XLF moved above $38.87 to an all-time high extending an intermediate uptrend.
Access to seasonality charts is available for subscribers to www.EquityClock.com
Paychex $PAYX a NASDAQ 100 stock moved above $118.22 to an all-time high extending an intermediate uptrend.
Access to seasonality charts is available for subscribers to www.EquityClock.com
Ford $F an S&P 100 stock moved above intermediate resistance at $14.79 .
Access to seasonality charts is available for subscribers to www.EquityClock.com
Enbridge $ENB.CA a TSX 60 stock moved above Cdn$51.34 to an all-time high extending an intermediate uptrend.
Access to seasonality charts is available for subscribers to www.EquityClock.com
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Oct.7 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Oct.7 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Oct.7 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
(except TSX)
S&P 500 Momentum Barometers
The intermediate term Barometer added 6.81 to 42.49 yesterday. It changed from Oversold to Neutral on the move above 40.00, but is trending up.
The long term Barometer added 2.00 to 71.14 yesterday. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 4.81 to 40.00 yesterday. It changed from Oversold to Neutral on a recovery to 40.00, but is trending higher.
The long term Barometer slipped 0.18 to 61.40 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
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