Tech Talk for Friday November 15th 2019

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Pre-opening Comments for Friday November 15th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. Index futures responded to news that a China/U.S. trade deal is close.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the November Empire State Manufacturing Survey was an increase to 5.0 from 4.0 in October. Actual was 2.9. Consensus for October Retail Sales was an increase of 0.2% versus a decline of 0.3% in September. Actual was an increase of 0.3%. Excluding auto sales, consensus for October Retail Sales was an increase of 0.4% versus a decline of 0.1% in September. Actual was an increase of 0.2%.

Applied Material gained $3.62 to $60.58 after reporting higher than consensus fiscal fourth quarter revenues and earnings. The company also raised guidance. JP Morgan and Deutsche Bank raised their target price on the stock. JP Morgan and Deutsche Bank raised their target price on the stock.

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Nvidia gained $2.92 to $212.71 after reporting higher than consensus third quarter earnings.

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Nike gained $0.53 to $91.80 after announcing an increase in its dividend by 11%

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Home Depot gained $1.25 to $237.80 after JP Morgan raised its target price to $262 from $222.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/11/14/stock-market-outlook-for-november-15-2019/

Note seasonality chart on Crude Oil Days of Supply.

 

StockTwits released yesterday @EquityClock

Cisco $CSCO, a Dow Jones Industrial stock moved below $45.55 extending an intermediate downtrend. The company lowered fiscal second quarter guidance.

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Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 14th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 14th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 14th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Money Talks with Michael Campbell

Don Vialoux is scheduled to be the guest analyst on Michael’s weekly radio show this Saturday The broadcast on CKNW in Vancouver starts at 8:30 AM Pacific Standard Time (11:30 AM Eastern Standard Time) and is available through the net at https://globalnews.ca/radio/cknw/?gref=cknw

 

Hap Sneddon on BNNBloomberg’s Market Call

Broadcast yesterday

Market comment

https://www.bnnbloomberg.ca/video/hap-sneddon-s-market-outlook~1829013

Past Picks

https://www.bnnbloomberg.ca/video/hap-sneddon-s-past-picks~1829015

Top Picks

https://www.bnnbloomberg.ca/video/hap-sneddon-s-top-picks~1829016

 

S&P 500 Momentum Barometer

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The Barometer added 2.20 to 69.14 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer gained another 2.99 to 63.35 yesterday. It remains intermediate overbought and continues 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

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One Response to “Tech Talk for Friday November 15th 2019”

  1. Larry/ON Says:

    Not a bad time to trim a little with the knowledge that the market will likely continue higher over the next couple of months. I keep an eye on the 4 day MA on indexes and individual stocks. When there is a gap from that line prices need to come down or the line needs to rise to meet prices. Everything is overbought now but we won’t necessarily see a large drop. It could easily just go sideways. Looking at the Bollinger Band there is still room for the SPX and Nasdaq to move higher.

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