Tech Talk for Thursday November 17th 2022

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Pre-opening Comments for Thursday November 17th

U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points at 7:30 AM EST.

U.S. equity index futures were waiting for economic news at 8:30 AM EST. October U.S. Housing Starts are expected to slip to 1.410 million units from 1.439 million units in September. November Philly Fed Index is expected to improve to -8.2 from -8.7 in October.

Nvidia gained $2.10 to $161.20 after reporting higher than consensus third quarter revenues.


Cisco added $1.86 to $46.25 after reporting higher than consensus fiscal second quarter revenues.


Bath and Body Works advanced $7.02 to $38.48 after offering positive guidance.



EquityClock’s Daily Comment

Headline reads “The consumer is increasingly focusing their budgets on necessities while shying away from discretionary goods, providing a rather pessimistic view of economic activity”.


Technical Notes for yesterday

Lowe’s $LOW an S&P 100 stock moved above $219.99 extending an intermediate uptrend.
The company reported higher than consensus fiscal third quarter results.


Restaurant Brands International $QSR.TO a TSX 60 stock moved above Cdn$83.50 extending an intermediate uptrend. The company announced a new CEO.



Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 16th 2022


Green: Increase from previous day

Red: Decrease from previous day



Daily Seasonal/Technical Commodities Trends for November 16th 2022


Green: Increase from previous day

Red: Decrease from previous day


Daily Seasonal/Technical Sector Trends for November 16th 2021


Green: Increase from previous day

Red: Decrease from previous day


Links offered by valued providers

Link offered by Mark Bunting and

KEYNOTE: David Rosenberg | Red Cloud’s Mining Showcase 2022 – YouTube


Greg Schnell discusses “Setting technical stops”.

Setting Technical Stops | Greg Schnell, CMT | Market Buzz (11.16.22) – YouTube


Dave Keller’s Final Bar. Features an interview with Ryan Detrick. His charts show that the strongest three consecutive quarters in the four year Presidential cycle are the fourth quarter in the second year of the cycle plus the first and second quarters in the third year. Also included is a chart showing that U.S. equity markets perform best during the two year period when Congress is in gridlock (as was confirmed late yesterday for the next Congress).


S&P 500 Momentum Barometers


The intermediate term Barometer added 0.80 to 81.00. It remains Overbought.


The long term Barometer slipped 1.80 to 53.40. It remains Neutral.


TSX Momentum Barometers


The intermediate term Barometer slipped 2.12 to 72.88. It remains Overbought.


The long term Barometer dropped 2.12 to 44.07. It remains Neutral.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at 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

One Response to “Tech Talk for Thursday November 17th 2022”

  1. Larry/ON Says:

    Where is everyone?

    SPX appears to have tested the Nov 10th break through resistance at 3900 and held for now.
    Energy – Holding up well despite the drop today in WTI while nat gas is up. As far as Cdn nat gas producers are concerned the AECO gas price has been quite strong almost all month averaging roughly 50% more than in Oct. TOU and BIR are to name a couple are benefiting. On TOU there is a report that there has been good insider buying with the chairman buying $736K recently at ave 76.27. Coincidentally the price bottomed today a few cents above that. The recent news is out that the Freeport LNG plant probably won’t reopen until end of Dec but that has not depressed nat gas prices which is quite bullish.

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