Tech Talk for Friday November 19th 2021

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Pre-opening Comments for Friday November 19th

U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade. Equity indices are responding to a surge in COVID 19 cases in Europe.

The Canadian Dollar was virtually unchanged at US 79.12 cents after release of Canadian September Retail Sales at 8:30 AM EST. Consensus was an drop of 1.7% versus a gain of 2.1% in August. Actual was a drop of 0.6%. Excluding food and energy, consensus for September Retail Sales was a drop of 2.0% versus a gain of 2.8% in August. Actual was a decline of 0.2%.

Applied Materials dropped $10.40 to $148.17 after lowering fourth quarter guidance.

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Intuit advanced $58.56 to $587.00 after reporting higher than consensus fiscal first quarter results. The company also raised guidance.

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Nike added $0.80 to $172.15 after the company announced a dividend increase

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/11/18/stock-market-outlook-for-november-19-2021/

 

Appearance on Michael Campbell’s Money Talks

Don Vialoux is a guest on Michael Campbell’s weekly radio show starting at 8:30 AM Mountain Standard Time (11:30 EST) on Saturday November 20th. Access is available at Michael Campbell’s MoneyTalks – Market Analysis & Commentary (mikesmoneytalks.ca)

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

Inflationary pressures are not just isolated to the US. Canada CPI was higher by 0.7% in October, much stronger than the unchanged result that is average for this time of year. $MACRO $STUDY #CDNecon #CAD #CPI

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The gyrations in the commodity market on Wednesday pose risk to one of our seasonal trades, but creates an opportunity in another. equityclock.com/2021/11/17/… $HG_F $CL_F $COPX $USO $XLE $XME

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Energy SPDRs $XLE moved below $56.97 completing a double top pattern.

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Steel ETF $SLX moved below $53.55 extending an intermediate downtrend.

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Apple $AAPL a Dow Jones Industrial Average stock moved above $157.03 to an all-time high extending an intermediate uptrend.

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JD $JD a NASDAQ 100 stock moved above $87.83 extending an intermediate uptrend. Seasonal influences are favourable until at least mid-April. If a subscriber to EquityClock see:

https://charts.equityclock.com/jd-com-inc-nasdjd-seasonal-chart

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Cisco $CSCO an S&P 100 stock moved below $52.98 completing a double top pattern. Responding to lower guidance.

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KraftHeinz $KHC an S&P 100 stock moved below $35.38 extending an intermediate downtrend.

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IBM $IBM a Dow Jones Industrial Average stock moved below $116.73 extending an intermediate downtrend.

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U.S. Bancorp $USB an S&P 100 stock moved below $58.50 completing a double top pattern.

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Raytheon Technologies $RTX an S&P 100 stock moved below $86.44 completing a double top pattern.

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MercadoLibre $MELI a NASDAQ 100 stock moved below $1,452.39 extending an intermediate downtrend.

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Couche Tard $ATD.B.CA a TSX 60 stock moved above $52.19 to an all-time high extending an intermediate uptrend. Seasonal influences on a real and relative basis are favourable to early March. If a subscriber of EquityClock. See https://charts.equityclock.com/alimentation-couche-tard-inc-tseatd-b-seasonal-chart

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov.18th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for Nov.18th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for Nov.18th 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).

 

A message from Canadian Association for Technical Analysis

Hello friends of the Canadian Association for Technical Analysis.  We have had three events since October.  Two were free for all, and the most recent was a members only event.  The realities are members help us provide quality content.
The presentations began with Mr. Keith Richards.  The result was he placed an excellent perspective on sectors that he saw as moving to interesting levels.  Keith also demonstrated how “To beat the Bear”.  His discussion on Amazon (AMZN) certainly helped yours truly make money in a short period of time. 
The following presentation had Mr. Ron Meisels that spoke about the VIX chart and how to use it catch prices near market lows.  Additionally, he was convincing in his view that buying below the 200 day moving average is high risk.  There are stocks with less risk, concentrate on better charts. 
Our most recent event was Mr. Greg Schnell.  Greg showed us profoundly logical techniques for selling issues to book a profit and reduce risk.  I learned if the stock signaled another buy signal, you get back in!  This was a members only event.  Our feedback from attendees is clearly favourable and appreciative of Mr. Schnell.
It’s clear three presentations each presented excellent observations that add to your trading skills.  Together, they are generating remarkable value to potential for improving results in members portfolios.  Now, extrapolate the knowledge and add soon to come skills.  You will be in a position of growth that makes you confident and a greater chance to prosper.
This is why we are reminding you that you won’t want to miss our next presenter:
Mr. David Cox on November 25, 2021 at 8 pm eastern time. 
David ( coxdaggett.com ) will be providing profound observations that will continue to add to your knowledge and skill base.  You need to be a member of the CATA to take advantage of these extraordinary speakers Join Now.  They are definitely some of the best in the business. 
The CATA has extra bargains which expire November 30, 2021.  It is our introductory offer that provides for 12 months plus 3 free for 15 months of membership at the 12 month price.  There’s also an additional reference option to identify a friend that sent you here and provide them with a free month of membership.  Join Now
By the way, you can now freely follow the CATA on Twitter @CdnATechA.
Be sure to join us on November 25 at 8 pm eastern time with David Cox @DavidCoxWG.
Join Now

P.S. Don Vialoux is scheduled to give a presentation on December 14th

Seasonality Chart of the Day from www.EquityClock.com

 

China equity indices and related ETFs are forming interesting base building patterns prior to start of their period of seasonal strength at the end of November. Put on the watch list!

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Strength in individuals Chinese stocks such as JD.com yesterday suggests that chances of a seasonal trade in the sector are above average between now and mid-April. Be patient for now!

 

S&P 500 Momentum Barometers

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The intermediate term Barometer dropped 3.81 to 66.33 yesterday. It remains Overbought and has started to trend lower.

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The long term Barometer dropped another 1.60 to 72.14 yesterday. It remains Overbought and has started to trend lower.

 

TSX Momentum Barometers

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The intermediate term Barometer dropped another 4.10 to 69.01 yesterday. It remains Overbought and has started to trend down.

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The long term Barometer slipped 0.34 to 72.30 yesterday. It remains Overbought and has started to trend down.

 

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 19th 2021”

  1. Rol Lew Says:

    “”” Larry/ON Says:
    November 17th, 2021 at 10:57 am
    AAPL – Poised to break through resistance at 152.94 on its’ way to test the 157.03 high.
    PFE – Never broke down after that surge higher on the news of its’ oral drug to treat Covid. It has had new all-time high closes and should take out the intra-day high of 51.41 soon.

    That’s it for me for now. Happy trading.”””

    Wow! Nice calls Mr Larry.

    In the meantime my CSCO’s turned to Merde.

  2. Larry/ON Says:

    Rol Lew – It’s NVDA that you want to be in for semis. I called AMAT wrong, LRCX right. I have totally bought into NVDA as a long-term holding as a company that is technologically transformative beyond what the vast majority of people understand.
    Financials – It’s not fun when Cdn banks are down during their seasonally strong period. They are being dragged down with US financials which is all tied to fears of economic slowdown due to Covid resurging globally. I am taking some pain on this one. The flip side is that tech growth stocks are doing well.

  3. Larry/ON Says:

    https://www.cnbc.com/2021/11/19/nvidia-ceo-says-the-metaverse-could-save-companies-billions.html

  4. Paula Says:

    Ron/BC
    NTR
    From your perspective, has the recent Sate of Emergency affected life in Victoria or on the island generally? Just curious.

  5. Ron/BC Says:

    Paula
    NTR

    Well there was a ton of rain for sure. The highway from Victoria to Nanaimo was washed out and through some mountain ranges covered in rocks & trees & mud slides. But it is passable once again but will need months of rebuild. And the gasoline and food does come down from UpIsland so that meant shortages of food and gas. For the next 10 days vehicles are limited to 30 liters of gas per visit. And the food trucks have restocked many stores here again. Believe it or not many are still golfing on courses that are not soaked. So things are getting back to relative normal I guess. Perhaps this event will discourage Easterners to stop moving out here. A year ago there were 245 condos for sale up to $500K and now there is 23 only. And they are building condos faster than you could believe. I’ve been thinking of moving somewhere not so busy. Just don’t know where.

    Also I heard that more money has gone into the stock market in 2021 than in the last 10 years!!!!! You know what that suggests………………..Timberrrrrrrrrrrrrrrrrrr

  6. Paula Says:

    Ron B/C

    NTR
    Thanks. Didn’t know food came from up island. Didn’t know how bad the hwy to Nanaimo got or about the gas rationing.
    Don’t blame you for wanting to move to a less busy place but you have done well with the big demand for condos in and around Victoria. Appreciate your perspective.

  7. Ron/bc Says:

    Paula
    Much of the food and gas comes from up island as Nanaimo is the port for commercial delivery. No room for that in Victoria. But even normally Victoria gets a lot of rain even more than Vancouver.Not this summer though as 600 people died on the coast due to extreme heat thus summer. But I came from Saskatchewan as a kid and won’t live in snow all winter again. Don’t know where to go though.

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