Pre-opening Comments for Tuesday November 14^th

Index futures were higher this morning. S&P 500 futures were up 49 points at 8:35 AM EST.

Index futures were sharply higher following release of the U.S. October Consumer Price Index at 8:30 AM EST. Consensus was an increase 0.1% versus a gain of 0.4% in September. Actual was unchanged. On a year-over-year basis consensus was an increase of 3.3%. Actual was an increase of 3.2%. Excluding food and energy, consensus was an increase 0.3% versus a gain of 0.3% in September. Actual was an increase of 0.2%. Year-over-year, consensus was an increase of 4.1% versus a gain of 4.1% in September. Actual was an increase of 4.0%.

Sun Life Financial is expected to open higher after the company increased its quarterly dividend from Cdn$0.75 to Cdn$0.78 per share

Teck Resources advanced US$2.05 to US$38.50 after Glencore bought a 77% stake in Teck’s steelmaking coal business for $6.93 billion

General Dynamics added $0.55 to $247.20 after receiving an order from Indian Health Service valued at $2.5 billion.

Home Depot added $2.77 to $290.84 after reporting higher than consensus third quarter earnings.

 

EquityClock’s Daily Comment

Headline reads “Core defensive sectors are reporting year-to-date declines and are vulnerable to tax-loss selling through the month ahead”.

https://equityclock.com/2023/11/13/stock-market-outlook-for-november-14-2023/

 

Technical Notes

Boeing $BA a Dow Jones Industrial Average stock moved above intermediate resistance at $199.62

Meta Platforms $META a NASDAQ 100 stock moved above $330.54 extending an intermediate uptrend.

General Dynamics $GD an S&P 100 stock moved above $245.06 extending an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov13^th 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for Nov.13^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 13^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Canadian Association for Technical Analysis Presentation

Guest video presenter for the CATA’s presentation at 8:00 PM EST tonight is Will Tamplin. Everyone is welcome. Not a member of CATA? See https://canadianata.ca/

 

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 1.40 to 48.00. It remains Neutral.

The long term Barometer added 0.20 to 41.60. It remains Neutral.

 

TSX Momentum Barometers

The intermediate term Barometer dropped 2.54 to 42.29. It remains Neutral.

The long term Barometer added 1.32 to 38.77. It remains Oversold.

Disclaimer: Seasonality ratings 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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