Tech Talk for Wednesday November 20th 2024
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points at 8:30 AM EST.
La-Z-Boy's added $1.00 to $43.31 after reporting higher than consensus fiscal second quarter revenues and earnings.
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2024/11/clip_image0014-1.png "clip_image001[4]")
Verex gained $0.49 to $15.05 after reporting higher than consensus fiscal fourth quarter results.
![clip_image002[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2024/11/clip_image0024-1.png "clip_image002[4]")
Target dropped $25.98 to $128.95 after reporting less than consensus third quarter results.
![clip_image003[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2024/11/clip_image0034-1.png "clip_image003[4]")
Comcast added $1.04 to $43.36 after announcing a plan to spin off its NBCUniversal cable operations.
![clip_image004[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2024/11/clip_image0044-1.png "clip_image004[4]")
EquityClock's Stock Market Outlook for November 20th
While hard data continues to paint a fairly bleak state of the manufacturing economy in the US, a jump in manufacturer sentiment for November highlights that this cohort is expecting better days ahead. See:
https://equityclock.com/2024/11/19/stock-market-outlook-for-november-20-2024/
Technical Notes
S&P 100 and NASDAQ 100 stocks moving below support extending an intermediate downtrend included Mondelez, Pepsico, Vertex Pharmaceutical and Ross Stores.
George Weston $WN.TO a TSX 60 stock moved below intermediate support at Cdn$216.05.
Canadian Pacific $CP.TO a TSX 60 stock moved below Cdn$103.38 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for November 19th 2024
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 November 19th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 19th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Tesla’s Autonomy Gambit + Nvidia’s Moment of Truth: A Conversation with Tech Investor Gene Munster
Markets will rally into year-end and potentially be strong next year too: Defiance ETFs’ Jablonski
Canada's inflation rate ticks back up to 2% in October: CP 24
Canada's inflation rate ticks back up to 2% in October - YouTube
‘DAY OF RECKONING IS COMING’: Expert sounds alarm over China stocks on US exchanges
https://www.youtube.com/watch?v=OlyIGN63TOY
CHART THIS with David Keller, CMT Tuesday 11/19/24
https://www.youtube.com/watch?v=ZzV6oASeQS4
Chart of the Day: Australia All Ordinaries (AORD)
The Index moved above 8,654.70 to an all-time high. Technical score increased from 4 to 6 when strength relative to the S&P 500 changed from Neutral to Positive.
S&P 500 Momentum Barometers
The intermediate term Barometer dropped another 3.20 to 54.00. It remains Neutral.
The long term Barometer dropped 1.20 to 68.80. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 1.36 to 58.64. It remains Neutral.
The long term Barometer was unchanged at 72.73. It remains Overbought.
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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