Tech Talk for Friday November 23rd 2018

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Pre-opening Comments for Friday November 23rd

U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points in pre-opening trade. Weakness was led by energy stocks following a 5% drop in the price of crude oil in overnight trade.

Trade volumes are expected to remain significantly lower than average today. Trading in U.S. equities on U.S. exchanges closes at 1:00 PM EST.

The Canadian Dollar was virtually unchanged at U.S. 75.61 cents following release of Canadian economic data at 8:30 AM EST. Consensus for the October Consumer Price Index was an increase on an annualized basis of 2.2%. Actual was 2.4%. Consensus for September Retail Sales was unchanged versus an upwardly revised unchanged in August. Actual was an increase of 0.2%

 

Upcoming BNNBloomberg Appearance

Jon Vialoux will be on BNN’s Market Call Tonight at 6:00pm ET this Friday, November 23rd taking your calls on Technical Analysis and Seasonal Investing. 

CALL TOLL-FREE 1-855-326-6266,

EMAIL marketcall@bnnbloomberg.ca,

  or TWEET @MarketCall.

Trading Hours for U.S. equity markets today

Equity trading closes today at 1:00 PM EST

 

StockTwits Released Yesterday @EquityClock

Another Canadian gold producer stock breakout! B2 Gold $BTO.CA moved above $2.64 extending an intermediate uptrend.

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Trader’s Corner

No changes yesterday.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 22nd 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 22nd 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 22nd 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

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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6 Responses to “Tech Talk for Friday November 23rd 2018”

  1. Bobj Says:

    Re: 3 yesterday, optionseller.com
    Ana,
    was so surprised to see James Cordier in the news.
    Used to follow his company then called “Liberty Trading Group” in 2013.
    Was to risky for me then to sign up for 25K.

  2. Ron/BC Says:

    Big test dead ahead for the $SPX. Friday close saw another closing low of the selloff. Price is now approaching the spring lows around 2580. Technicals are very weak but also oversold. Watch 2580 that must hold to keep price from going right over the waterfall. One could make the argument that the higher high in September along with the multiple tests of 2580 throughout 2018 forms a Flat Bottomed Broadening Formation which is an extremely bearish chart pattern not often seen. And if broken on the downside would suggest a sell off of the entire 400 points spread below 2580 if broken and take price to the 2015-2016 high at 2140.
    The 2nd Weekly chart makes a very convincing case of this which is typical of Weekly charts. Weeklies are good for a broader view without the Daily noise. The Weekly chart shows the breakdown of the 3 year uptrendline from early 2016. And the lower Long Term Modified MACD has a convincing track record and has just recently given a sell signal which I wouldn’t trade against. And note the negative divergences on the RSI 8 & RSI 21 at the last price high. Once can see that a test at least the uptrendline from 2009 is likely to be tested.

    https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p47072074541&a=582707024

    https://stockcharts.com/h-sc/ui?s=%24SPX&p=W&st=1994-03-10&id=p65059960979&a=579408389

  3. Polish1 Says:

    Excellent Summary of Fed Actions and Impact
    Last summer it was well known about the Fed QT and Rates and you can see the impacts on the market taking hold.
    https://seekingalpha.com/article/4216972-update-quantitative-tightening-big-risk-fed

  4. kam Says:

    Ron/BC,

    Great analysis in #2.Hat tip. But I think Da boys still have inventory so maybe won’t brake it down to 2100. Santa in the town soon possibly 🙂 It will be better to take dumb money for one more ride to ATH to distribute before pulling the plug.

    ps:- Haven’t talked to Slava for long time. Think a dream scenario setting up for her to short the hell out of it soon.

  5. Ron/BC Says:

    Kam

    Well nothing the big boys could do would surprise me. Remember the flash crash that no one could explain. That must have loaded a lot of their pockets all in one day. So perhaps a bullish story with a huge short covering rally and fresh buying by the public would set up that dream scenario………….

  6. ana Says:

    #1. Bobj

    Good for you!

    Why would people not ask what type of investing he does?

    He was gambling with other people’s money.

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