Tech Talk for Tuesday November 5th 2019

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StockTwits released yesterday @EquityClock

Dow Jones Industrial Average $INDU is scheduled to open above its all-time high at 27,369.68

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Walgreen Boots $WBA, a Dow Jones Industrial stock moved above $58.10 extending an intermediate uptrend

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Emerson Electric $EMR, an S&P 100 stock moved above $72.07 extending an intermediate uptrend.

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MMM $MMM, a Dow Jones Industrial stock moved above $172.48 completing a base building pattern

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Agribusiness ETF $MOO moved above $67.62 to an all-time high extending an intermediate uptrend.

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Mid-cap iShares $MDY moved above $361.49 extending an intermediate uptrend.

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Hong Kong iShares $EWH moved above $24.31 completing a double bottom pattern.

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Materials SPDRs $XLB moved above $59.23 extending an intermediate uptrend.

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Global Base Metals iShares $PICK moved above $28.40 completing a double bottom pattern.

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The breakout by $PICK was triggered partially by completion of a double bottom pattern by RIo Tinto $RIO on a move above $55.42

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Another base metal equity breakout! VALE $VALE moved above #12.38 setting an intermediate uptrend.

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Copper Miners ETF $COPX moved above $18.40 completing a double bottom pattern.

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‘Tis the season for Metals and Mining stocks and ETFs $XBM.CA to move higher to early January!

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Magna International $MG.CA, a TSX 60 stock moved above $72.30 extending an intermediate uptrend

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Cameco, $CCJ $CCO.CA, a TSX 60 stock moved above $9.81 U.S. completing a base building pattern.

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Uranium equity ETF $URA moved above $11.29 setting an intermediate uptrend. Heavily weighted in Cameco $CCJ $CCO.CA

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Royal Bank $RY.CA, a TSX 60 stock moved above $107.19 to an all-time high extending an intermediate uptrend.

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SunLife $SLF.CA, a TSX 60 stock moved above $59.83 to an all-time high extending an intermediate uptrend.

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Editor’s Note: Strength in Royal Bank and SunLife contributed to a breakout by the TSX Financial Services Index above 316.34 to an all-time high.

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Canadian "gassy" stocks finally are responding to higher natural gas prices. Nice breakout by Advantage Oil and Gas $AAV.CA above $2.26 extending an intermediate uptrend.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 4th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 4th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 4th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Technical Scoop

Compliments of David Chapman and www.enrichedinvesting.com

David discusses,” Market highs, channel tops, best months, news front-running, indicator mix, bullish gold, margin expansion”. Following is a link to his weekly report:

http://enrichedinvesting.com/wp-content/uploads/2019/11/Market-highs-channel-tops-best-months-news-front-running-indicator-mix-bullish-gold-margin-expansion.pdf

 

Keith Richard’s Blog

Keith says, “Markets seem a bit overdone…but then again…it is November”! Following is a link:

https://www.valuetrend.ca/bear-o-meter-shows-excessive-market-optimism/

 

S&P 500 Momentum Barometer

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Percent of S&P 500 stocks trading above their 50 day moving average slipped 0.40 to 70.14 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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Percent of TSX stocks trading above their 50 day moving average slipped 0.91 to 55.91 yesterday. It remains intermediate neutral.

 

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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One Response to “Tech Talk for Tuesday November 5th 2019”

  1. Larry/ON Says:

    Financials and transports creating a major buy signal for the overall market. I’ve wanted to see some kind of profit taking minor correction but it is not happening yet. Keith Richards sums things nicely in his blog with the link above.

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