Tech Talk for Friday November 29th 2019

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Pre-opening Comments for Friday November 29th

U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.

Volume on U.S. exchanges is expected to be well below average today. U.S. exchanges close at 1:00 PM EST.

The Canadian Dollar was virtually unchanged at U.S. 75.23 cents following release at of Canada’s GDP report for September at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.1% in August. Actual was an increase of 0.1%. On a year-over-year basis, third quarter real GDP increased 1.6%.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/11/27/stock-market-outlook-for-november-29-2019/

Note seasonality charts on the TSX Composite Index relative to the S&P 500 Index and Durable Goods Orders.

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 28th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 28th 2019

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Green: Increase from previous day

Red: Decrease from previous day


Sectors

Daily Seasonal/Technical Sector Trends for November 28th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Changes in Seasonality at the End of November

Canadian financial services have a history of reaching a seasonal peak at the end of November

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Canadian energy stocks have a history of bottoming at the end of November

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TSX Momentum Barometer

 

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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8 Responses to “Tech Talk for Friday November 29th 2019”

  1. sp Says:

    Nat.gas trading at 2.37 usd. How low it will go? Is it winter is season more use of nat.gas to warm up. Enbridge increasing price? Is it time to buy or hold it? Thanks

  2. Ron/BC Says:

    https://money.cnn.com/data/fear-and-greed/

    Oink,Oink……………………….

  3. still_learning Says:

    Ron/BC,

    Yes …Oink,Oink, with a lot of ‘FOMO’ mixed in.

    As I sit here reviewing my stock charts, there has to be a correction soon?

    regards, Bernie(Lethbridge)

  4. Ron/BC Says:

    Stll_Learning

    Yes, “WE’VE JUST GOT TO GET IN NO MATTER WHAT RIGHT,LOL!!!!”
    The gimmi,gimmi crowd is in up to their ears and are now using margin to buy more.
    In the mid day hour they cried MORE,MORE,MORE. Well they are welcome to all the markets and can even have my share. I get a kick out of the media with their “China trade deal is on……No it’s off again. Reminds me of Lucy holding the ball for Charlie Brown and then pulling it away when he tries to kick it. But he always believes next time will work but it never does. I keep reading articles that the broad market is extremely overvalued as it has been the only game in town for the most part. Like the cowboy who road into town and asked the locals where the poker game was. They told him it was the only game in town but also said it was crooked. The cowboy walked over to the poker game door and the locals said “Are you deaf? I said it’s crooked! The cowboy said yes,but you also said it’s the only game in town. Seems like that’s the way it is with investing/trading these days. I prefer doing the odd deal in real estate as it tends to always pay off big. Still golfing here on dry days but it has been colder lately. I’ve been busy busting my butt on my condo I recently bought. The work never seems to end and I’m getting way too old for that shxx.

  5. still_learning Says:

    Ron/BC,

    Enjoyed your analogies.

    I tried shorting VET.TO a while back (at $18) and got caught immediately by a quick bounce-back. I still think it may pay off but I learned a lesson …never short a stock with a ridiculous high dividend?

  6. Ron/BC Says:

    Still_Learning

    VET.to is a very choppy stock with a lot of traders buying and selling it. The chart doesn’t suggest anything obvious to do from what I see.

    https://stockcharts.com/h-sc/ui?s=VET.TO&p=D&yr=1&mn=0&dy=0&id=p27276378141&a=678400254

  7. Paula Says:

    Ron/BC
    I was thinking that the shortage of posts on this site in recent weeks might be attributed mostly to your absence. I imagined that you were busy with moving and settling in to your new condo. In the past, you have often started off lots of discussions with posting important charts like SPX, TLT or GOLD.

    I am curious and I think others would be also- how did the move go and how are you settling in to your new condo? Are you renovating already?

    Re the markets: I have been selling, selling and selling. So I have more cash than all year and not participating in the recent run up. I just can’t believe in this rally even though I know that staying with the trend is the best/most profitable policy.

  8. Ron/BC Says:

    Paula

    Well I’ve looked at the charts and while they did breakout and I don’t see much wrong with most I’m not willing to get long here regardless. Just too many happy bulls out there and that tends to be a poor time to be buying.
    The move went ok on Nov 1st and since moving in I’ve two coated the living room,dining room and hall and bought all new furniture. I gave most of my old furniture to the Restore. Just thought it was about time I bought what I wanted rather than hanging on to what I had owned forever. Am replacing the major area floors with a laminate this month and bought new curtains. I’ve exhausted myself with it all and besides falling and bashing my head and rolling down a bank also have developed a bad chest cold which I never tend to get. Mother nature is trying to tell me something I guess. But like a man I guess “I just don’t listen”,lol. Hard to sleep lying down without coughing so been sleeping in a chair recently. I dread the floor layers coming and having to move all the furniture for them and back again. They’re coming mid month. I’ll likely take a break after that.

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