Tech Talk for Tuesday November 16th 2021

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Pre-opening Comments for Tuesday November 16th

U.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point in pre-opening trade.

Index futures were virtually unchanged following release of U.S. October Retail Sales Report at 8:30 AM EST. Consensus was an increase of 1.5% versus a gain of 0.7% in September. Actual was an increase of1.7%. Excluding auto sales, consensus was an increase of 1.0% versus a gain of 0.8% in September. Actual was an gain of 1.7%.

Home Depot added $4.50 to $375.58 after reporting higher than consensus third quarter sales and earnings.

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Wal-mart advanced $1.86 to $148.71 after reporting higher than consensus third quarter sales and earnings.

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Peloton dropped $1.73 to $47.49 after announcing plans to raise funds by selling shares valued at $1 billion.

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Workday gained $8.30 to $303.90 after UBS upgraded the stock from Neutral to Buy.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/11/15/stock-market-outlook-for-november-16-2021/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

Water Resources ETF $PHO moved above $59.70 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until the end of April. If a subscriber to EquityClock, see: https://charts.equityclock.com/invesco-water-resources-etf-nasdpho-seasonal-chart

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Target $TGT an S&P 100 stock moved above $266.15 to an all-time high extending an intermediate uptrend.

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Dollar Tree $DLTR a NASDAQ 100 stock moved above $120.37 extending an intermediate uptrend. Subject to an activist position in the stock

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MasterCard $MA an S&P 100 stock moved above intermediate resistance at $367.35. Seasonal influences are favourable until at least the end of April. If a subscriber to EquityClock, see:

https://charts.equityclock.com/mastercard-nysema-seasonal-chart

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NextEra Energy $NEE an S&P 100 stock moved above $86.97 to an all-time high extending an intermediate uptrend.

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American Tower $AMT an S&P 100 stock moved below $259.32 extending an intermediate downtrend.

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Splunk $SPLK a NASDAQ 100 stock moved below support at $136.83

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov.15th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for Nov.15th 2021

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Nov.15th 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).

 

Seasonality Chart of the Day from www.EquityClock.com

Seasonal influences on a real and relative basis for the Nikkei Average are positive from mid-November to the first week in January.

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The Nikkei Average reached an intermediate low on October 6th. The Average recently moved above its 200 day moving average and yesterday it moved above its 20 and 50 day moving averages. Strength relative to the S&P 500 Index has just turned positive. Momentum is positive.

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S&P 500 Momentum Barometers

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The intermediate term Barometer increased 2.61 to 76.25 yesterday. It remains Overbought and continues to trend higher.

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The long term Barometer added 0.40 to 75.95 yesterday. It remains Overbought

 

TSX Momentum Barometers

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The intermediate term Barometer slipped 2.83 to 71.70 yesterday. It remains Overbought.

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The long term Barometer dropped 2.83 to 72.17 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




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