Tech Talk for Friday November 20th 2020

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Pre-opening Comments for Friday November 20th

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.

The Canadian Dollar added 0.04 to US76.62 cents following release of Canada’s September Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.4% in August. Actual was an increase of 1.1%

Workday added $10.20 to $241.00 after reporting higher than consensus quarterly results. The company also offered positive guidance.

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Pepsico (PEP $143.22) is expected to open higher after the company increased its annual dividend by 7%.

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Foot Locker gained $1.09 to $42.42 after reporting higher than consensus third quarter sales and earnings.

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Ttuist raised its ratings on U.S. home builder stocks. Toll Brothers, Pulte Homes and DR Horton were upgraded from Hold to Buy. Target price on Lennar was boosted from $62 to $93.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2020/11/19/stock-market-outlook-for-november-20-2020/

Note seasonality charts on Natural Gas Storage and U.S. Existing Home Sales

Technical Notes for Thursday November 19th

Junior Gold Equity ETF (GDXJ) moved below $51.27 extending an intermediate downtrend.

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Tesla (TSLA), a stock recently selected to join the list of S&P 500 stocks moved above $502.49 to an all-time high extending an intermediate uptrend.

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Norbord (OSB) moved above $48.30 on news that West Fraser Timber and Norbord have agreed to merge in an all-stock deal.

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Other Canadian forest product stocks also responded. Interfor (IFP) moved above $19.00 extending an intermediate uptrend.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 19th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 19th 2020

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 19th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

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The Barometer slipped 0.20 to 81.16 yesterday. It remains extremely intermediate overbought.

TSX Momentum Barometer

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The Barometer added 1.88 to 66.67 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




7 Responses to “Tech Talk for Friday November 20th 2020”

  1. Paula Says:

    Ana,
    Just saw your post from a couple of days ago. I wondered what had become of you and expressed this some time ago. Generally, people disappear when bad stuff is happening, understandably.

    Sometime in the future, I anticipate that Don V. will give up on this site and then we will all disappear into the ether, I guess.

    I wish you and yours well.

  2. Ana Says:

    Hi Paula,

    Thank you for your message. I tried to keep posting, but the world seemed to go upside down on my family. I am sure this is happening to a great deal of families.

    I have not gotten a chance to go through old posts. Oh, I hope this site continues because I find it so useful when I am trading more frequently.

    Paula, I hope you are doing well. A lot of stress these days for young people trying to provide for their families, especially with unemployment surging.

    Take care.

  3. Ron/BC Says:

    Ana & Paula

    You are not alone. Most of my family is gone now with the latest casualties a brother in law along with his daughter and her son. (long sad story like most) Not many left now. And this Covid 19 issue has driven me close to madness. Or else I was already there and now just realize it. Even the stats don’t make sense anymore. Interest rates which are critical to banking success are close to zero but the banks are rallying. Gold should be soaring but isn’t. And the SPX type stocks are rallying to new highs in the face of bankruptcies with business closings & laid off workers collecting federal aid. And with it all the public is buying everything in site along with expensive houses etc and the banks are lending these partially employed people all the money they want. Now we have to wear masks almost to bed along with in hallways and elevators. (gasp) I’m getting very,very tired of it all and it reminds me of the old saying, “I’m mad as hell and am not going to take it anymore.” Stay well and don’t put up with too much crap.

  4. Ron/BC Says:

    Ana & Paula
    Here is a U-Tube clip that says it all…………

    https://www.youtube.com/watch?v=ZwMVMbmQBug

  5. Ron/BC Says:

    Here is a Daily chart of the $SPX. Price is once again stretched out and over 400pts above its 200ema. And everyone is a bull as well. Not a good sign. Perhaps it’s time to come home to mama.(oink,oink.)

    https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=2&mn=6&dy=0&id=p20576285577&a=725299577

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

  6. Paula Says:

    Ron/BC
    I am very sorry to hear of your loss. Especially sad to hear of younger people who have not had a chance to be cut short in their lives.

  7. dave/ab Says:

    Thanks for your updates. take care, everyone. You all make this site a better experience.

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