Observations The TSX Composite Index moved above 15,324.56 setting a new intermediate uptrend. Responses to the FOMC announcement were muted: Equity indices initially moved lower, but closed virtually unchanged. The U.S. Dollar Index and its related ETF moved slightly higher. Gold and gold equities moved lower. Bond prices initially moved lower, but closed virtually unchanged. Financial stocks and related ETFs moved higher. StockTwits Released Yesterday @EquityClock Technical action by S&P 500 stocks to 10:00: Quietly bearish. Breakout: $FAST. Breakdowns: $GIS $K $KHC $CPB. Editor’s Note: After 10:00 AM EDT, breakouts included MAR, FDX, NUE, VZ, ARNC, FITB, PNC and JPM. Breakdowns included CCL, RCL, AAPL, COH, VNO, PM, EQR, AVGO and REG. Cdn. Natural Resources $CNQ.CA, a TSX 60 stock moved above $41.10 extending an intermediate uptrend. Another “gassy” stock Peyto $PEY.CA completed a double bottom pattern on a move above $21.62. Clearwater $CLR.CA moved below $10.00 extending an intermediate downtrend. Apple $AAPL, a Dow Jones Industrial stock moved below support at $155.11. Verizon $VZ, a Dow Jones Industrial stock moved above $49.63 extending an intermediate uptrend. More Canadian “gassy” stocks reach new highs extending uptrends: $ECA.CA $ERF.CA Blackberry $BB.CA, a TSX 60 stock moved above $10.62 completing a double bottom pattern. Crude Oil ETF $USO moved above $10.32 extending an intermediate uptrend. BMO Junior Gas ETF $ZJN.CA moved above $14.94. Previous top pick on BNN. Wheat ETN $WEAT completed a double bottom pattern on a move above $6.61. JP Morgan $JPM, a Dow Jones Industrial stock moved above $95.22 to all-time high extending an intermediate uptrend. Existing home sales higher by 4.3% (NSA) in August, above 3.5% avg. gain. #Housing #Economy $MACRO US Oil Production has nearly recouped all of the Hurricane Harvey dip. $USO $CL_F #OIL Consensus of Second Quarter Earnings by Dow Jones Industrial Companies Third quarter earnings by Dow Jones Industrial companies are expected to show a modest increase relative to the same period last year. Consensus shows that ten companies will report lower earnings, two companies will report no change, one company does not offer comparable results and 17 companies will report higher earnings. Average (Median) gain is 3.9%. Following are consensus estimates for the fiscal third quarter: Trader’s Corner Equity Indices and Related ETFs Daily Seasonal/Technical Equity Trends for September 20th 2017 Green: Increase from previous day Red: Decrease from previous day Commodities and Related ETFs Daily Seasonal/Technical Commodities Trends for September 20th 2017 Green: Increase from previous day Red: Decrease from previous day * Excludes adjustment from rollover of futures contracts Sectors Daily Seasonal/Technical Sector Trends for September 20th 2017 Green: Increase from previous day Red: Decrease from previous day Keith Richards’ Blog Keith says “TSX spikes out of downtrend. Is this a trend change? Following is a link: http://www.valuetrend.ca/tsx-spikes-downtrend-trend-change/ S&P 500 Momentum Barometer The Barometer dropped 3.40 to 55.40 yesterday. It remains intermediate overbought and showing early signs of rolling over. TSX Momentum Barometer The Barometer added 1.00 to 59.92 yesterday. It remains intermediate overbought. Disclaimer: Seasonality and technical ratings offered in this report and 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