Tech Talk for Friday November 22nd 2019

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Pre-opening Comments for Friday November 22nd

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

The Canadian Dollar added 0.14 to U.S.75.43 cents following release of Canadian September Retail Sales at 8:30 AM EST. Consensus was an increase of 0.3% versus a decline of 0.2% in August. Actual was a decrease of 0.1%.

Nordstrom gained $2.86 to $37.18 after reporting higher than consensus third quarter revenues and earnings. The company also issued positive guidance.

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Gap Stores added $0.48 to $16.40 after reporting higher than consensus third quarter earnings.

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Macy’s (M $14.67) is expected lower to open after Deutsche Bank lowered its target price to $18 from $22.

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JM Smucker (SJM $104.15) is expected to open lower after reporting lower than consensus fiscal second quarter revenues. The company also lowered guidance.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/11/21/stock-market-outlook-for-november-22-2019/

Note seasonality charts on Existing Home Sales and Initial Jobless Claims

 

StockTwits released yesterday @EquityClock

Lam Research $LRCX, a NASDAQ 100 stock moved below $267.23 completing a double top pattern.

Texas Instruments $TXN, a NASDAQ 100 stock moved below $115.00 completing a Head & Shoulders pattern.

Netflix $NFLX, a NASDAQ 100 stock moved above $308.75 setting an intermediate uptrend.

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 21st 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 21st 2019

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Green: Increase from previous day

Red: Decrease from previous day


Sectors

Daily Seasonal/Technical Sector Trends for November 21st 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Josef Schachter on BNNBloomberg

Josef is expected the tax loss selling season to set up a classic opportunity to buy favoured energy stocks. Following are links:

Market Outlook

https://www.bnnbloomberg.ca/video/josef-schachter-s-market-outlook~1834577

Past Picks

https://www.bnnbloomberg.ca/video/josef-schachter-s-past-picks~1834574

Top Picks

https://www.bnnbloomberg.ca/market-call/josef-schachter-s-top-picks~1834594

Editor’s Note: Seasonal influences for the Canadian energy sector turned positive this week on a real and relative basis for a seasonal trade to May. Energy stocks and crude oil moved higher yesterday on news that Russia will comply to OPEC’s announced strategy to maintain production at current levels until next June.

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Last year, the Canadian energy ETF also came under tax loss selling pressures to the second week in December followed by a 35% advance to late April. A similar scenario appears to be setting up this year with a possible earlier start this year. Yesterday, XEG moved back above its 20 and 50 day moving averages, an encouraging technical sign.

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Paying it Forward

Help us Light Up Wellspring Birmingham Gilgan House

If you have been wondering how to repay Tech Talk for its valued daily free investment services, we would like to offer you the opportunity to “Pay it Forward” by donating to a worthy charity. Wellspring Birmingham Gilgan House, located in Oakville Ontario is one of nine community-based centres throughout Southern Ontario and Calgary that provides support for people living with cancer. Being their favorite charitable organization, Jan and Don Vialoux (who is a cancer survivor) are actively involved with Wellspring.

Each Wellspring centre is a separate legal entity, responsible for its own governance and funding and for program offerings that are tailored to the unique needs of the local community. One of Wellspring’s biggest fund raising event each year is its “Light Up Wellspring” event where individuals and companies make donations in order to “buy lights” that light up facilities for the Christmas season. You can sponsor a bulb, strand of lights, wreath or tree. Your donation will be recognized throughout the center on paper bulbs, wreaths or trees. Wellspring is a registered charity and tax receipts are issued for value received

On November 28th, Wellspring welcomes the community, families and friends to light up their local Wellspring Centre with a holiday open house including festive refreshments, a bake sale, quilted items sale and silent auction.

 

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A link to Wellspring’s services and how to donate are offered below

Give $5 and light up a bulb
(minimum of $10 donation online)

Give $25 and light up a strand of bulbs

Give $250 and light up a wreath or Hanukkah menorah

Give $1000 and light up a holiday tree

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Event Details:
Thursday, November 28th 2019
5:00pm – 8:30pm, Official Lighting Ceremony at 6:30pm.
Wellspring Birmingham Gilgan House, 2545 Sixth Line, Oakville, ON L6H 7V9

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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