Tech Talk for Friday November 9th 2018

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Pre-opening Comments for Friday November 9th

U.S. equity index futures moved lower this morning. S&P 500 futures were down 13 points in pre-opening trade.

Walt Disney added $1.50 to $117.50 after reporting higher than consensus quarterly revenues and earnings.

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General Electric dropped $0.28 to $8.82 after JP Morgan lowered its target price to $6 from $10.

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Activision plunged $8.51 to $54.26 after reporting lower than consensus quarterly earnings.

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TransCanada Pipelines (TRP $52.21 Cdn) is expected to open lower after a U.S. Federal judge blocked a permit required to start construction of the Keystone pipeline through Montana.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/11/08/stock-market-outlook-for-november-9-2018/

Note seasonality charts on the U.S. Energy sector, Vehicle sales and TSX Healthcare sector.

 

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bullish. Breakouts: $DISCA $DISCK $NWSA $NWA $TRIP $AXP $HOLX $PNW $SRE. Breakdowns: $DHI $PRGO.

Editor’s Note: After 10:00 AM EST, breakouts included AAP, ORLY, MA, DLTR, MNK, PWR, KSS, MMC and CAH. No breakdowns.

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Retail Merchandising stocks (and related ETF $XRT) are leading the S&P 500 to the upside. Breakouts by $KSS and $DLTR.

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‘Tis the season for strength in retail merchandiser stocks to year end! $XRT

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BCE $BCE.CA, a TSX 60 stock moved above $53.89 setting an intermediate uptrend.

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Vehicle sales weak in October, down 5.1% as truck sales lag seasonal norms. $MACRO $STUDY #Economy

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 8th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 8th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 8th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

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The Barometer gained another 2.20 to 51.20 yesterday. It remains intermediate Neutral and continues to trend up.

 

TSX Momentum Barometer

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The Barometer slipped 1.52 to 33.33 yesterday. It remains intermediate oversold and continues to trend up.

 

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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