Tech Talk for Wednesday January 13th 2021

Bausch Health (BHC), a TSX 60 stock moved above Cdn$30.52 extending an intermediate uptrend. Quarterly results beat consensus.

Couche Tard (ATD.B), a TSX 60 stock moved below Cdn$40.32 on rumors that it has offered to purchase Carrefour.

Canadian "gassy" stocks continue moving higher. Birchcliffe Energy moved above $2.17 extending an intermediate uptrend.

Pre-opening Comments for Wednesday January 13th

U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade.

Index futures were virtually unchanged following release of the December U.S. Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.4% versus a gain of 0.2% in November. Actual was an increase of 0.4%. Excluding food and energy, consensus was an increase of 0.1% versus a gain of 0.2% in November. Actual was an increase of 0.1%

KB Homes advanced $1.55 to $35.70 after reported higher than consensus fiscal fourth quarter earnings. Wedbush upgraded the stock from Neutral to Outperform.

Couche Tard (ATD.B Cdn$41.31) is in discussions to purchase Carrefour, a French based convenience store company. Cost of the purchase is estimated at $15 billion.

Alcoa slipped $0.32 to $24.76 despite a target price increase by Deutsche Bank from $11 to $22.

ExxonMobil added $0.28 to $48.16 after JP Morgan upgraded the stock from Neutral to Overweight.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/01/12/stock-market-outlook-for-january-13-2021/

Technical Notes for Tuesday January 12th

AbbVie (ABBV), an S&P 100 stock moved above $67.00 to an all-time high extending a long term uptrend.

Xcel Energy (XEL), a NASDAQ 100 stock moved below $63.91 completing a modified Head & Shoulders pattern..

General Motors (GM), an S&P 100 stock moved above $46.71 to an all-time high extending an intermediate uptrend.

O'Reilly Automotive (ORLY), a NASDAQ 100 stock moved above $487.95 to an all-time high extending an intermediate uptrend.

Regeneron (REGN), a NASDAQ 100 stock moved above $506.99 completing a double bottom pattern.

Salesforce.com (CRM), an S&P 100 stock moved below $215.63 extending an intermediate downtrend.

Thomson Reuters (TRI), a TSX 60 stock moved below $101.32 completing a modified Head & Shoulders pattern.

OpenText (OTEX), a TSX stock moved below US$43.71 and Cdn$56.21 completing a double top pattern.

Royal Bank (RY), a TSX 60 stock moved above $108.44 to an all-time high extending an intermediate uptrend.

Docusign (DOCU), a NASDAQ 100 stock moved above $256.00 extending an intermediate uptrend.

eBay (EBAY), a NASDAQ 100 stock moved above $54.89 extending an intermediate uptrend.

Bristol-Myers (BMY), an S&P 100 stock moved above $65.71 extending an intermediate uptrend.

Kinder Morgan (KMI), an S&P 100 stock moved above $15.12 extending an intermediate uptrend.

Ford (F), an S&P 100 stock moved above $9.50 extending an intermediate uptrend.

Canadian "gassy" stocks are responding to higher natural gas prices. Freehold Royalties (FRU) moved above Cdn$5.92 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 12th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 12th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 12th 2021

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 1.80 to 77.96 yesterday. It remains intermediate overbought

TSX Momentum Barometer

The Barometer slipped 1.77 to 69.52 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