Tech Talk for Friday January 22nd 2021

Honeywell (HON), a Dow Jones Industrial Average stock moved below $204.85 completing a double top pattern.

IBM ((IBM) moved below support at $121.72 after reporting lower than consensus fourth quarter revenues.

Raytheon Technologies (RTX), an S&P 100 stock moved below $67.78 completing a double top pattern.

Pre-opening Comments for Friday January 22nd

U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US78.67 following release of Canada's November Retail Sales at 8:30 AM EST. Consensus was an increase of 0.1% versus a gain of 0.4% in October. Actual was an increase of 1.3%

IBM dropped $8.41 to $123.21 after reporting lower than consensus fourth quarter revenues.

Walt Disney gained $1.47 to $172.75 after UBS raised its target price from $155 to $200.

CSX dropped $1.92 to $89.69 after reporting lower than consensus fourth quarter earnings. Stifel Nicolaus lowered its rating from Buy to Hold.

Intel fell $2.91 to $59.55 despite reporting higher than consensus fourth quarter earnings and despite target price increases by five major Wall Street investment dealers. The company offered cautious guidance.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/01/21/stock-market-outlook-for-january-22-2021/

Note seasonality chart on U.S. Housing Starts.

Technical Notes for Thursday January 21st

Pfizer (PFE), a Dow Jones Industrial Average stock moved below $36.27 setting an intermediate downtrend.

Gildan Activewear (GIL), a TSX 60 stock moved below $34.13 completing a Head & Shoulders pattern.

Brazil iShares (EWZ) moved below $35.77 completing a double top pattern.

Paccar (PCAR), a NASDAQ 100 stock moved above $95.05 to an all-time high extending an intermediate uptrend.

TIPs moved above $127.92 to an all-time high extending an intermediate uptrend. Investors are starting to anticipate acceleration in U.S. inflation rates.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 21st 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 21st 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 21st 2021

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometers

The intermediate Barometer slipped 2.20 to 75.95 yesterday. It remains overbought.

The long term Barometer eased 0.40 to 91.18 yesterday. It remains extremely overbought.

TSX Momentum Barometers

The intermediate Barometer eased 2.91 to 66.02 yesterday. It remains overbought.

The long term Barometer slipped 0.97 to 79.13 yesterday. It changed from extremely overbought to overbought on a slip below 80.00.

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