Tech Talk for Tuesday October 26th 2021

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Pre-opening Comments for Tuesday October 26th

U.S. equity index futures were higher again this morning. S&P 500 futures were up 18 points in pre-opening trade.

Facebook added $4.08 to $329.69 after the company reported higher than consensus third quarter earnings. The company also announced an additional $20 billion share buyback program.

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MMM added $1.60 to $184.00after reporting higher than consensus third quarter earnings.

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United Parcel Services gained $0.90 to $204.80 after reporting higher than consensus third quarter earnings.

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Eli Lilly improved $1.30 to $246.35 after reporting higher than consensus third quarter earnings.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/10/25/stock-market-outlook-for-october-26-2021/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

Existing home sales in the US actually fell by 4.9% in September, but there was a lot to be encouraged by in the results released by the National Association of Realtors. equityclock.com/2021/10/21/… $MACRO $STUDY $XHB $ITB $LEN $PHM $TOL #Economy #Housing

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Global Agriculture iShares $COW.CA moved above Cdn$60.46 to an all-time high extending an intermediate uptrend.

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Editor’s Note: Seasonal influences are favourable on a real and relative basis to the end of February. If a subscriber to www.EquityClock.com See: https://charts.equityclock.com/ishares-global-agriculture-index-etf-tsecow-to-seasonal-chart

Semi-conductor SPDRs $XSD moved above $209.54 to an all-time high extending an intermediate uptrend.

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Editor’s Note: Seasonal influences on a real and relative basis are particularly favourable to the end of the year. If a subscriber to www.EquityClock.com See: https://charts.equityclock.com/spdr-sp-semiconductor-etf-nysexsd-seasonal-chart

Mastercard $MA an S&P 100 stock moved above $362.72 resuming an intermediate uptrend.

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Editor’s Note: Seasonal influences on a real and relative basis are particularly favourable to the end of the year. If a subscriber to www.EquityClock, see: https://charts.equityclock.com/mastercard-nysema-seasonal-chart

Tesla $TSLA a NASDAQ 100 stock moved above $900.40 to an all-time high extending an intermediate uptrend.

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Editor’s Note: Seasonal influences on a real and relative basis are favourable until mid-February. If a subscriber to www.EquityClock, see: https://charts.equityclock.com/tesla-inc-nasdtsla-seasonal-chart

NVIDIA $NVDA a NASDAQ 100 stock moved above $230.29 to an all-time high extending an intermediate uptrend.

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Editor’s Note: Seasonal influences on a real and relative basis are favourable until mid-February. If a subscriber to www.EquityClock, see: https://charts.equityclock.com/nvidia-corporation-nasdaqnvda-seasonal-chart

Advanced Micro Devices $AMD a NASDAQ 100 stock moved above $122.49 to an all-time high extending an intermediate uptrend.

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Editor’s Note: Seasonal influences on a real and relative basis are particularly favourable until the end of the year. If a subscriber to www.EquityClock, see: https://charts.equityclock.com/nvidia-corporation-nasdaqnvda-seasonal-chart

Copart $CPRT a NASDAQ 100 stock moved above $152.75 to an all-time high extending an intermediate uptrend.

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Editor’s Note: Seasonal influences on a real and relative basis are particularly favourable to the end of the year. If a subscriber to www.equityclock, see: https://charts.equityclock.com/copart-inc-nasdcprt-seasonal-chart

Cadence Design $CDNS a NASDAQ 100 stock moved above $168.61 to an all-time high extending an intermediate uptrend.

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FirstService Corp. $FSV.CA a TSX 60 stock moved above $249.71 to an all-time high extending an intermediate uptrend.

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Rogers Communications $RCI a TSX 60 stock moved below US$46.10 extending an intermediate downtrend. Dispute over control by senior executives continues.

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Seasonality Chart of the Day from www.EquityClock.com

Canadian Technology iShares XIT.TO enters into a favourable period of s seasonality on a real and relative basis this week for a period lasting to mid-February.

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On the charts, units are in an upward trend, recently moved above their 20 day moving average and recently recorded positive momentum (Daily.Stochastics, RSI, MACD) indicators.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.25th 2021

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Green: Increase from previous week

Red: Decrease from previous week

 

Commodities

Daily Seasonal/Technical Commodities Trends for Oct.25th 2021

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Green: Increase from previous week

Red: Decrease from previous week

 

Sectors

Daily Seasonal/Technical Sector Trends for Oct.25th 2021

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Green: Increase from previous week

Red: Decrease from previous week

All seasonality ratings are based on performance relative to the S&P 500 Index

(except TSX)

S&P Momentum Barometers

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The intermediate term Barometer slipped 0.60 to 65.13 yesterday. It remains Overbought.

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The long term Barometer eased 1.00 to 75.35 yesterday. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer added 4.83 to 71.50 yesterday. It remains Overbought.

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The long term Barometer gained 2.90 to 68.12 yesterday. It remains 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 Tuesday October 26th 2021”

  1. Larry/ON Says:

    We’ve come out of the weakest seasonal part of the calendar. We’ve taken out the prior index high. Earnings are beating expectations. Transport stocks are starting to run up – UPS. The Dow Jones Transportation Average Total Return $DJTTR is making new all time highs. Among semis NVDA and AMD are making new all-time highs. Small caps are about to break out of a period of consolidation since March (see IWM). We continue to have a a very accommodative FED. The bond market continues to be weak. An agreement is soon to be reached in Congress on spending.
    Put it all together and if you can’t figure out whether to buy or sell don’t own equities.

  2. Larry/ON Says:

    EQB, HCG, CIX

  3. Paula Says:

    Ron/BC,

    Here is something I have been buying as an investment, not a trade. I like the high dividend yield for income. But it may also be a trading opportunity. It has checked back to the 8.07 level after breaking out to make a new high in August. Seems to be on its way back up.

    https://schrts.co/cGvydgyY

  4. NRG Says:

    Larry/ON

    Thanks Larry for your input. I’ve been close to “all in” forever with great returns over the years. Appreciate your point of view.

  5. Ron/BC Says:

    Paula

    Re:#3. Nice looking chart with the bullish “W” pattern as well. Can’t see you going wrong with that ETF.

  6. Ron/BC Says:

    For those holding the XIU.to keep in mind despite the bullish banks and commodities in that ETF it’s largest holding being almost 9% is Shopify (SHOP.to) and the chart pattern of it is getting very bearish. “IF” price breaks below support at 1610 price could sell off hard. Just something to watch…………

    https://stockcharts.com/h-sc/ui?s=SHOP.TO&p=D&yr=2&mn=0&dy=0&id=p05382980076&a=1050504654

  7. Larry/ON Says:

    NRG – Thanks. I am very long. I will, however, admit to taking some profits on NVDA today. It needs to consolidate. Financials are great.

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