Tech Talk for Tuesday November 6th 2018

Daily Reports Add comments

Pre-opening Comments for Tuesday November 6th

U.S. equity indices are lower this morning. S&P 500 futures were down 4 points in pre-opening trade.

Nutrien (NTR $71.47 Cdn) is expected to open higher after reporting higher than consensus third quarter sales and earnings. The company also increased its dividend and raised its fourth quarter guidcance.

clip_image001[1]

Mosaic (MOS $32.22) is expected to open higher after reporting higher than consensus third quarter earnings. The company also raised its fourth quarter guidance.

clip_image002[1]

Eli Lilly (LLY $110.14) is expected to open higher after the company reported higher than consensus third quarter earnings. The company also raised its guidance.

clip_image003[1]

Bausch Health (BHC $33.45 Cdn) is expected to open higher after reporting higher than consensus third quarter revenues. The company also raised its guidance.

clip_image004[1]

 

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/11/05/stock-market-outlook-for-november-6-2018/

Note seasonality charts for the Dow Jones Industrial Average during a Mid-term Election Year and a Pre-Election Year.

 

Observations

Selected international equity markets continue to recover from intermediate oversold levels.

clip_image001

clip_image002

Strength in spot uranium prices to the highest levels since March 2016 released on Friday had a positive impact on uranium stocks/ETF, particularly Cameco.

clip_image003

clip_image004

 

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakouts: $COG $WLTW. Breakdown: $SYY

Editor’s Note: After 10:00, intermediate breakouts included ICE and NRG. No breakdowns.

clip_image005

Natural gas ETN $UNG moved above $27.65 extending an intermediate uptrend. “Gassy” stocks ((e.g. $COG) are responding.

clip_image006

clip_image007

‘Tis the season for natural gas prices to move higher to late December!

clip_image009

Editor’s Note: Strength was related to a U.S. forecast predicting cooler and wetter weather in the U.S. during the remainder of November. U.S. natural gas inventories already are near a 20 year low for this time of year setting the stage for higher prices.

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 5th 2018

clip_image011

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 5th 2018

clip_image013

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 5th 2018

clip_image015

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards’ Blog

Following is a link:

https://www.valuetrend.ca/my-buy-signal/

 

Technical Scoop

Link to David Chapman’s weekly report (compliments of Enriched Investments)

http://www.enrichedinvesting.com/PDF/October-bear-Booms-Busts-with-a-debt-heart-strong%20jobs-defers-recession-mid-terms-portend-market-rally.pdf

 

Jeff Parent from CastleMoore on BNNBloomberg’s Market Call

Market Outlook

https://www.bnnbloomberg.ca/market-call/jeff-parent-s-market-outlook~1532217

 

Past Picks

https://www.bnnbloomberg.ca/market-call/jeff-parent-s-past-picks~1532277

 

Top Picks:

https://www.bnnbloomberg.ca/market-call/jeff-parent-s-top-picks~1532278

 

S&P 500 Momentum Barometer

clip_image016

The Barometer added another5.80 to 28.80 yesterday. It remains intermediate oversold and has started to trend higher.

 

TSX Momentum Barometer

clip_image017

The Barometer gained another 7.38 to 28.22 yesterday. It remains intermediate oversold and has started to trend higher.

 

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

Sponsored By...



12 Responses to “Tech Talk for Tuesday November 6th 2018”

  1. Ron/BC Says:

    “IF” the market soars or plunges tomorrow due to U.S. Midterm Election results and possible dramatic consequences one strategy would be to buy an Option Strangle or Option Straddle on an Index type ETF. EX:SPY etc.

  2. Ron/BC Says:

    RE:#1
    That would have to be put on today of course……………….

  3. G/ON Says:

    Long time follower of site – great content.
    Call out to our technical / fundamental stock pickers.
    What are your thoughts about GC.TO
    Big move today. It tends to act lumpy when earnings announcements occur.

  4. Polish1 Says:

    Put/Call Ratio 1.33
    likely some hedging in front of election

  5. Polish1 Says:

    A whopping 89 percent of global assets are in the red this year in U.S. dollar terms, the worst of any year since at least 1901
    https://bloom.bg/2Qk6tF1

  6. Ron/BC Says:

    GC.to: Good support at the uptrendline of $40 or even the breakout point at $38. Definitely wouldn’t chase it here with the gap up and $7 gain. Looks like a very choppy stock.

    https://stockcharts.com/h-sc/ui?s=GC.TO&p=D&yr=2&mn=0&dy=0&id=p7235818032c&a=629545607

  7. G/ON Says:

    Hi Ron/BC- thank you for sharing your insights – much appreciated.
    It is very choppy. I recently entered the stock but I have taken some profits given the outsized upward move today..

  8. Polish1 Says:

    GC.to Huge move today,but one should trade their plan and take profits accordingly,would place a stop loss at the bottom of the candle…hate to give away profits.

  9. G/ON Says:

    Hi Polish1 – thank you. I bought over Sept & Oct around 44 and started selling some shares today from low 47’s up to mid 49’s. Wish I had held more shares before today but we have to practice some risk management!

  10. Polish1 Says:

    Congrats G/ON you can never go wrong by ringing the register.

  11. Polish1 Says:

    HCKT-heck of a run for his one
    https://stockcharts.com/h-sc/ui?s=HCKT&p=D&yr=0&mn=6&dy=0&id=p91781273585&a=626779282&listNum=59

  12. Craig Says:

    Thanks gcg (4) and Paula (5) for your suggestions of yday. Much appreciated.
    Craig

TopOfBlogs Finance Blogs
Entries RSS Comments RSS Log in