Tech Talk for Tuesday November 9th 2021

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Pre-opening Comments for Tuesday November 9th

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

U.S. equity index futures were virtually unchanged following release of the October Producer Price Index at 8:30 AM EDT. Consensus calls for an increase of 0.6% versus a gain of 0.5% in September. Actual was an increase of 0.6%. Excluding food and energy, consensus was an increase of 0.5% versus a gain of 0.2% in September. Actual was an increase of 0.4%.

General Electric gained $7.57 to 115.99 after the company announced a reconstruction into three new companies.

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PayPal dropped $11.52 to $217.90 after the company guided toward lower than consensus revenues and earnings in 2022.

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TripAdvisors fell $2.66 to $32.21after reporting lower than consensus third quarter revenues and earnings.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/11/08/stock-market-outlook-for-november-9-2021/

Attention: Members of Canadian Association for Technical Analysis

Interested in technical analysis? The Canadian organization supporting technical analysis recently was launched with a series of interesting presentations by ZOOM. Recent presentations were given by Ron Meisels and Keith Richards.

Greg Schnell is giving a presentation to members tonight. Future presentations include David Cox on November 25th, Don Vialoux on December 14th and Dwight Galusha on December 23rd.

More information on the Association, its services and the current bargain price for joining is available at Emailing – Canadian Association for Technical Analysis (canadianata.ca)

For access to tonight’s presentation by Greg Schnell, click on

https://zoom.us/j/91630970643?pwd=N0lwdXJSZmNVdTBRRlBhODRrbXdIQT09 )

Technical Notes released yesterday at

StockTwits.com@EquityClock

Employment in the US surged by 1.558 million in October (NSA), or 1.1%, almost double the 0.6% increase that is average for this time of year. $STUDY $MACRO #Employment #Economy #NFP

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Canada did not share the strength realized in the labour market south of the border in October with employment rising by only 9,700, or 0.1%. The average change for this time of the year is an increase of 0.2%. $STUDY $MACRO #CDNecon #CAD

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Materials SPDRs $XLB moved above $88.44 to an all-time high. Seasonal influences are favourable to January 6th. For EquityClock subscribers, see seasonality chart at equityclock.com/

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Aerospace & Defense iShares $ITA moved above $109.38 resuming an intermediate uptrend. Seasonal influences for the sector are favourable until mid-February. If a subscriber to EquityClock, see seasonlity chart at equityclock.com/

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Berkshire Hathaway $BRK.B an S&P 100 stock moved above $295.08 to an all-time high extending an intermediate uptrend. Seasonal influences arr favourable on a real and relative basis to mid-March. If a subscriber to EquityClock, see seasonality chart at equityclock.com/

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General Motors $GM an S&P 100 stock moved above $59.35 resuming an intermediate uptrend. Seasonal influences are favourable to mid-January. If a subscriber to EquityClock, see seasonality chart at equityclock.com/

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Cameco $CCJ or CCO.CA a TSX 60 stock moved above US$27.42 extending an intermediate uptrend. Seasonal influences are favourable to January 15. If a subscriber to EquityClock, see seasonality chart at equityclock.com/

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Silver stocks are responding to higher silver prices. First Majestic Silver $FR.CA and $AG moved above Cdn$17.01 and Cdn$17.09 completing a reverse Head & Shoulders pattern. Stock also moved above $US$13.79. Seasonal influences are favourable to mid-February. If a subscriber to EquityClock, see equityclock.com/ for the seasonality chart

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Soybean ETN $SOYB moved below $20.97 extending an intermediate downtrend.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov.8th 2021

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Green: Increase from previous day

Red: Decrease from previous day


Commodities

Daily Seasonal/Technical Commodities Trends for Nov.8th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for Nov.8th 2021

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Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX).

 

S&P 500 Momentum Barometers

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The intermediate Barometer added 0.40 to 73.75. It remains Overbought and continues to trend higher.

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The long term Barometer slipped 1.00 to 75.95. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer added another 4.65 to 77.03. It remains Overbought and continues to trend higher.

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The long term Barometer gained another 3.19 to 70.81. It remains Overbought and continues to trend higher.

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




10 Responses to “Tech Talk for Tuesday November 9th 2021”

  1. Larry/ON Says:

    PYPL – The mother of all falling knives. This will be interesting to see at what point some buyers see some real value here. It traded at the $200 level for a long time during the second half of 2020. Even if we overshoot for a bit through that level I’m wondering if that is the point where some people with sharp pencils step in.

  2. Larry/ON Says:

    SPX – Really looks like it wants to roll over for a dip.

  3. Ron/BC Says:

    NTR
    Does anyone remember a lady that used to post here a few years ago that moved with her husband (who had medical issues) to Lake Chapala Mexico. I think she lived in Ontario. I think her name was Mary but my memory for names is not good. I wrote it down somewhere but have moved a few times so may not have it anymore.

  4. Bernie Says:

    Ron/BC,

    I believe the lady went by the nickname “Tawny” which was the name of one of her dogs. She did mention her real name once or twice but I can’t remember it either.

  5. Mary Says:

    Ron/BC

    Ron, Bernie is correct. She mentioned her real name sometime in past year or two.
    She was from Ottawa….Kinston area

  6. Ron/BC Says:

    Bernie

    Thanks. Yes, her name was Tawny which one of her dogs was named. I had her email but seemed to have lost it (if that’s possible.) Don’t know if anyone has her email……

    Mary: Thanks for your effort as well!

  7. Larry/ON Says:

    US Producer Price Index PPI number coming out tomorrow and it may be very high. Hopefully that will put bonds in reverse and create demand for dividend paying financials. TLT is right up against major resistance. If it breaks 151.94 I am wondering if that goes hand in hand with equities rolling over for a dip. Listening to Jim Cramer tonight he called the whole market uncertain and said taking a little off the table isn’t a bad idea.

  8. Larry/ON Says:

    Excuse me. It’s the Consumer Price Index report tomorrow.
    https://www.cnbc.com/2021/11/09/consumer-prices-likely-surged-last-month-at-their-fastest-pace-in-about-30-years.html

  9. Ron/BC Says:

    Watch the $GOLD stocks & their ETFs as many are breaking out or right up against important price resistance points. Time to pay attention to precious metal stocks for a “possible” change in trend.

    https://stockcharts.com/h-sc/ui?s=IAU&p=D&yr=2&mn=0&dy=0&id=p20046158034&a=916445051

    https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=0&dy=0&id=p18892838606&a=673066441

  10. Ron/BC Says:

    Here is the Canadian $Gold stock ETF:XGD.to. Price has just tested an important long term support level.

    https://stockcharts.com/h-sc/ui?s=XGD.TO&p=W&yr=20&mn=0&dy=0&id=p89212526971&a=945231435

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