Tech Talk for Friday November 17th 2023

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Pre-opening Comments for Friday November 17th

U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points at 8:30 AM EST.

Today is the last trade day for November listed options, futures and futures options.

Index futures unchanged following release of the October U.S. Housing Starts report at 8:30 AM EST. Consensus was a slip to 1.345 million units from 1.358 million units in September. Actual was an increase to 1.372 million units

Applied Materials plunged $11.83 to $142.98 on a report that the company is under federal investigation due to its trade with China.


Gap Inc advanced $2.05 to $15.70 after reporting higher than consensus third quarter results.


Ross Stores gained $7.16 to 127.31 after reporting higher than consensus third quarter results. The company also offered positive guidance.


Analog Devices advanced $3.48 to $183.32 after Morgan Stanley upgraded the stock to Overweight.



EquityClock’s Daily Comment

Headline reads “While stocks look exhausted in the short-term, an upside bias is normal through the week of US Thanksgiving”.

Wolf on Bay Street interview

Don Vialoux was interviewed by Wolfgang Klein and Jack Hardill for the show on Thursday. The show is released at 7:00 PM EST on Saturday on Corus Radio 640.


Technical Notes

U.S. Oil and Gas Exploration and Production SPDRs $XOP moved below $134.99 completing a double top pattern. Responding to lower crude oil prices.


ConocoPhillips $COP an S&P 100 stock moved below intermediate support at $111.11.


Silver ETN $SLV moved above $21.72 setting an intermediate uptrend.


Wheaton Precious Metals $WPM a TSX 60 stock moved above $45.60 resuming an intermediate uptrend.


General Electric $GE an S&P 100 stock moved above $117.88 to a five year high extending an intermediate uptrend.


American Tower $AMT an S&P 100 stock moved above $198.80 extending an intermediate uptrend.


Cisco $CSCO a Dow Jones Industrial Average stock moved below $51.09 extending an intermediate downtrend. The company lowered second quarter guidance.


Algonquin Power $AQN.TO a TSX 60 stock moved above a reverse Head & Shoulders pattern on a move above Cdn$8.11.



Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov16th 2023


Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings:


Daily Seasonal/Technical Commodities Trends for Nov.16th 2023


Green: Increase from previous day

Red: Decrease from previous day



Daily Seasonal/Technical Sector Trends for November 16th 2023


Green: Increase from previous day

Red: Decrease from previous day


Links offered by valued providers

Three Ways to Stay on the Right Side of the Market | The Final Bar (11.15.23)

Three Ways to Stay on the Right Side of the Market | The Final Bar (11.15.23) – YouTube


Unpacking the S&P 500 Rally and the Catalyst to Higher Markets | Trading Places (11.16.23)


BMO’s bullish bet on Biotech


S&P 500 Momentum Barometers


The intermediate term Barometer dropped 3.20 to 66.80. It remains Overbought.


The long term Barometer slipped 1.00 to 51.00. It remains Neutral.


TSX Momentum Barometers


The intermediate term Barometer dropped 1.32 to 57.71. It remains Neutrtal.


The long term Barometer dropped 1.76 to 41.41. 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

5 Responses to “Tech Talk for Friday November 17th 2023”

  1. KC Says:

    Hello Ron/BC,

    Hope you are doing well, staying healthy and enjoying your days in BC.

    Thought I’d nudge you to see if you have a few mins to throw up your much loved updated chart for WTI buy/sell RSI signals. Seems like it might be time to jump in soon.

    Adjacently, I’m also curious to hear yout thoughts on which oil companies you favour to play the upside with WTI. Which of these do you prefer ?,,,CNQ.TO,TOU.TO,BNE.TO,STEP.TO,CVI,BPT,VLO,HFC,PBF,LBRT,DK|B|0

    Happy Friday!

    Sincere Regards n respect as always,

  2. Ron/BC Says:

    KC & the Sunshine Band

    Here is a chart of $WTIC. And yes you are correct as price does seem to want to bounce back. CNQ has been outperforming XLE and $WTIC so I’d stick with it for now. There is still a downtrendline from September that is keeping the oils under the gun. I would have been preferred to see Crude tag the $67 mark with some positive diverges on the oscillators but you can’t have everything. I didn’t compare all the Oils to Crude but CNQ did stand out on the chart. You could replace the CNQ symbol with another oil for a comparison too. I’m considering moving to Washington State. Condo prices there are far lower with a lot more to offer. And it would be nice to get away from Trudeau as well.

  3. Ron/BC Says:

    Here is a shorter time frame of $WTIC with CNQ overlaid to show it better.

  4. Ron/BC Says:

    Here is a Seasonality chart of $WTIC.

  5. Muntazir Says:

    Hi Tony,

    Please check your email.
    Are you still following the BMO March 2024 $160 trade from Sept 2/2022?

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