Tech Talk for Friday November 24th 2017

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Pre-opening Comments for Friday November 24th

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade.

U.S. equity markets close today at 1:00 PM EST

Wal-Mart gained $0.40 to $96.81 after reporting higher than expected pre-Black Friday sales.

Deere added $0.76 to $146.01 after RBC Capital raised its target price to $155 from $134.

 

StockTwits Released Yesterday @EquityClock

Russell Metals $RUS.CA moved above $29.22 to a 3 year high extending an intermediate uptrend.

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Canada Retail Trade down by 3.9% (NSA) in September, more than 3.5% average decline for month. #CDNecon #CAD $MACRO

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for November 23rd 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for November 23rd 2017

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Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

 

Daily Seasonal/Technical Sector Trends for November 23rd 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

Keith Richard’s Blog

Following is a link:

http://www.valuetrend.ca/assessing-flying-five-implications-market/

 

TSX Momentum Barometer

The Barometer slipped 1.66 to 60.17 yesterday. It remains intermediate overbought and trending down.

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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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16 Responses to “Tech Talk for Friday November 24th 2017”

  1. Pat/Vic Says:

    Hello Ron/BC,
    When you get a moment could you please have a look at CRH.TO and tell me what you think?
    Thank you kindly,Pat

  2. tomC Says:

    Anyone have access to Josef Schachter latest in particular his call on gas stocks

  3. Ron/BC Says:

    Pat/Vic
    CRH.to finally broke above its $3.00 2008 high in 2015 and traded in a sideways channel between $3.00 and $5.50 until Oct 2015 when it broke out and ran up sharply to $12.35 in May of this year. Something ugly happened then which is typical for these Biotech companies. Price plunged through the 1st breakout point at $5.50 which should have served as support. Price then fell further to the major support at the $3.00 breakout point and tried to hold at that support area for a few months before breaking down again. Bottom line this stock needs to re-clear $3.00 AND hold above $3.00 to get back into its previous channel between $3.00 and $5.50. Until then the $3.00 ‘area’ is going to be solid resistance. Only positive here is note the lower RSI 21 is at a higher level than when price was over $3.00. This shows the stock is not as weak as it was then despite the lower price. (positive divergence). But with Biotech stocks expect extreme volatility. At a couple of bucks a share there isn’t much downside left and there is lots of upside.

    http://stockcharts.com/h-sc/ui?s=CRH.TO&p=D&yr=3&mn=0&dy=0&id=p64226961418&a=558922896

  4. Pat/Vic Says:

    Re #3
    Thanks Ron..always good info.
    Cheers,Pat

  5. dutchcanuck Says:

    Neil/AB
    Nice pop on PHO today with a new all time high of $1.97. The COO left.

    New all time high on Savaria (SIS.TO) as well.

    Perhaps I should go away more often.

  6. Bernie Says:

    dutch,

    Hope you’re able to catch the Grey Cup game where you are. Go Argos!!!

  7. Kam Says:

    Hi Guys,

    Long time no real post.Have some time today so here it goes.

    NTR,

    I want to thank $CAD on its last run to parity with USD in 2011 or so. As we all were going to US to buy stuff those days and no sales in Canada, That was the single reason Canadian Stores start doing Black Friday deals here too and now this thing has taken off and won’t look back. I mean seriously, who wants to buy junk a day after Christmas,we needed gifts before.
    I already bought a 65″ TV and some other junk today. XIV paid for it.

    Miners,

    Well here is some Miners chart. They are very disappointing to me and to all. I have sold/stopped out of all on the last runup in Aug/Oct and now hold none. Maybe try a miner 2-3 days holds on AG etc. Looking back for this year I don’t think I made any money in them in the end so why bother doing same thing again and again and expect different results? Now they can go up as I gave up,lol.
    Here is what EW thinks of them. Sounds like a no mans-land until break above $26. below $21, game is over. As much I like to buy and hold them, it is just hard. I have decided to not trade them for the moment until dust settles one way or another.
    https://imgur.com/XxnyN7f
    Gold have done pretty good comparing to them.
    ABX is another one which will mark the turn around in them if it does turn with buy zone of $12.50 to $11 area for long term holders.

    SPX,

    Well party keeps on going. I am one of the party goers but keep very little skin in the game and usually day trade or buy one future of ES, NQ or RTY to trade during RTH, no more.
    Had two very good trades, one in RTY from Nov16 market open buy at 1470 and sold on Nov21 at 1515 as good 45 points move in Russell2000.
    Second in XIV, bought 300 shares on Nov15 and keep on selling 50 shares on each market close since Nov17 and still have 50 left. Not much but with the move it have from $105 to now $119 area that is $2000 removed from market and still sitting on $700 profit.

    EW thinks we are close to the 3rd wave top and Next spx target is 2611-2620 where it can stall. And party can be over early if IWM breaks below 149.50.
    Don’t know about that either as BTFD jumps in every time. Bears have accepted the defeat and are doubting themselves to keep pressing when market falls any of these days. I am doubting myself if this thing will ever fall but am telling myself that it will. How fast my mindset will change to buy puts or sell short is hard to say. If market moves thru 2540-2520 then 4th wave still have target of 2330-2400.

    IF that happens, it might feel like the bull run is over and reset the sentiments to extreme fear but be ready to buy that dip. You been warned 🙂
    Later

  8. roy Says:

    Dutchcanuck Re # 5
    Great call on those 2 and IFC. Thanks for sharing and
    yes
    Go Argos Go. Going to be a great game tomorrow.

  9. bruce Says:

    Sherri

    Can you clarify and make any sense of Armstrongs latest re a directional call in the next week or two?……

  10. FishFat Says:

    The Canadian dollar has found support on an upward trend line that has been in place since May. And on Thursday, the dollar penetrated a downward trend that has been in place since September. This is bullish. However, there is overhead resistance at $0.79 to overcome.

    http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&st=2017-04-03&en=2017-11-24&id=p56141654662&a=348127149

  11. Sherri Says:

    #9 bruce

    All I can say is that on a weekly basis he’s looking for a change in direction or sideways, choppy movement, possibly a correction, for the next while with December 4th and 18th as target dates for the DOW. I don’t have a subscription to his site so I don’t know the specifics. As far as I know, he doesn’t expect any major trend change yet anyway.

  12. bruce Says:

    tnx Sherri….

  13. rick Says:

    bitcoin 9700 $

  14. dutchcanuck Says:

    ARGO$$$$$$
    Watched the game on ESPN. All’s right with the world.

  15. Kam Says:

    DutchCanuck, Roy n all Centre of the Universe folks,

    Congrats.
    I tuned off 11/12 of the game with all that snow as u can’t see much. But paid attention to the last 1/12 when Argos return the fumble for score. Grey cup remains a great game which is not a blowout at all. Calgary is turning into Buffalo Bills.

  16. Bernie Says:

    Re: #15
    Agreed re: Buffalo Bills

    Congrats Argo & Ricky Ray fans!

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