Tech Talk for Tuesday November 3rd 2020

Daily Reports Add comments

Pre-opening Comments for Tuesday November 3rd

U.S. equity index futures were higher this morning. S&P 500 futures were up 40 points in pre-opening trade.

Bausch Health added $0.91 to US$18.25 after reporting higher than consensus third quarter revenues.

clip_image001[1]

Wayfair advanced $29.90 to $285.54 after reporting higher than consensus third quarter revenues and earnings.

clip_image002[1]

McKesson gained $5.97 to $158.00 after reporting higher than consensus fiscal second quarter earnings.

clip_image003[1]

Nutrien slipped $2.09 to Cdn$52.91 despite reporting higher than consensus third quarter revenues and operating earnings

clip_image004

 

EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2020/11/02/stock-market-outlook-for-november-3-2020/

Note seasonality charts on the U.S. Technology Sector and U.S. Construction Spending.

 

Technical Notes Yesterday

Incyte Corp (INCY), a NASDAQ 100 stock moved below $82.98 extending an intermediate uptrend.

clip_image001

Take Two Interactive (TTWO), a NASDAQ 100 moved below $151.63 completing a double top pattern.

clip_image002

Advanced Micro Devices (AMD), a NASDAQ 100 stock moved below $73.85 completing a double top pattern.

clip_image003

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 2nd 2020

clip_image005

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 2nd 2020

clip_image007

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 2nd 2020

clip_image009

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting.com for a link to the weekly report. Headline reads, “Winter discontented, golden haven, not oversold, downward energy, diverging gas, stormy south”. Following is the link:

http://enrichedinvesting.com/wp-content/uploads/2020/11/Winter-discontented-golden-haven-not-oversold-downward-energy-diverging-gas-stormy-south.pdf

 

S&P 500 Momentum Barometer

clip_image010

The Barometer advanced 13.83 to 44.29 yesterday. It changed from intermediate oversold to intermediate neutral on a move above 40.00.

 

TSX Momentum Barometer

clip_image011

The Barometer added 10.90 to 39.34 yesterday. It remains intermediate oversold.

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




Comments are closed.

Entries RSS Comments RSS Log in