Tech Talk for Tuesday November 26th 2019

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Pre-opening Comments for Tuesday November 26th

U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.

Bank of Nova Scotia (BNS $75.80) is expected to open higher after reporting higher than consensus fiscal fourth quarter earnings.

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Best Buy advanced $3.05 to $77.30 after reporting higher than consensus third quarter earnings. The company also raised guidance.

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Dick’s Sporting Goods gained $5.22 to $44.65 after reporting higher than consensus third quarter earnings. The company also raised guidance.

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Chipotle advanced $15.49 to $802.00 after Cowen upgraded the stock to Outperform from Market Perform. The stock also was chosen as a top pick for 2020.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/11/25/stock-market-outlook-for-november-26-2019/

Note seasonality chart on 10 year Treasury Note Futures.

 

StockTwits released yesterday @EquityClock

Eli Lilly $LLY, a S&P 100 stock moved above $116.56 and $117.60 setting an intermediate uptrend

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First Trust Biotech ETF $FBT moved above $142.99 extending an intermediate uptrend.

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Pfizer $PFE, a Dow Jones Industrial stock moved above $38.56 extending an intermediate uptrend.

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U.S. equity indices have a history of moving higher in the last week in November and the first week in December $INDU, $COMPQ $SPX

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The TSX Composite Index has a history of moving higher during the last week in November and the first week in December $TSX.CA

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Steel ETF $SLX moved above $37.04 extending an intermediate uptrend. Responding to U.S./China trade talks

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Comcast $CMCSA, an S&P 100 stock moved below $43.61 completing a double top pattern

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Morgan Stanley $MS,an S&P 100 stock moved above $40.89 extending an intermediate uptrend. Helped Financial SPDRs $XLF move to an all-time high.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 25th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 25th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 25th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Technical Scoop

Weekly comment by David Chapman compliments of www.EnrichedInvesting.com Following is a link:

http://enrichedinvesting.com/wp-content/uploads/2019/11/Potential-reversal-protective-positioning-background-noise-repo-mystery-Thanksgiving-fade.pdf

 

Josef Schachter on Michael Campbell’s Money Talks

Josef was the guest analyst on Michael’s show on Saturday. He suggested that tax loss selling pressures could provide a buying opportunity. Following is a link to the full program:

https://mikesmoneytalks.ca/complete-show-nov-23rd/?mc_cid=26cca5ad1d&mc_eid=592546b4b5

 

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

 

 

S&P 500 Momentum Barometer

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The Barometer added 3.21 to 71.14 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer added 2.73 to 65.91 yesterday. It remains intermediate overbought.

 

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 26th 2019”

  1. Larry/ON Says:

    I miss the active posters we used to have. In this rising market if something in your portfolio is dropping the market is telling you you made a mistake.

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