Tech Talk for Wednesday October 27th 2021
U.S. equity index futures were mixed this morning. S&P 500 Index were unchanged in pre-opening trade.
The Canadian Dollar was quiet at US80.62 cents prior to an economic update to be released by the Bank of Canada at 10:00 AM EDT. A conference call following the update is scheduled at 11:00 AM EDT. Consensus calls for no change in the Bank of Canada's overnight lending rate to major Canadian banks.
Microsoft added $1.98 to $312.09 after the company reported higher than consensus fiscal first quarter revenues and earnings. JP Morgan raised its target price from $310 to $320.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0011-7.png "clip_image001[1]")
Texas Instruments dropped $3.22 to $193.76 despite reporting higher than consensus third quarter earnings. However, quarterly revenues were less than consensus.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0021-10.png "clip_image002[1]")
Coca Cola added $0.25 to 54.72 after reporting higher than consensus third quarter earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0031-8.png "clip_image003[1]")
First Quantum Minerals dropped $1.18 to Cdn$28.39 after the company guided to narrowed copper production.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/10/clip_image0041-5.png "clip_image004[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/10/26/stock-market-outlook-for-october-27-2021/
Technical Notes released yesterday at
United Kingdom iShares $EWU moved above $33.96 to an all-time high extending an intermediate uptrend
Technology SPDRs $XLK moved above $159.85 to an all-time high extending an intermediate uptrend.
Ahead of Amazon's earnings report on Thursday, we are downgrading our view of the Broadline Retail industry given the sluggish performance realized in recent weeks. Find out what other actions are prudent for your portfolio in today's report. equityclock.com/2021/10/25/… $AMZN $XRT $RTH
United Parcel Services $UPS an S&P 100 stock moved above $217.39 to an all-time high extending an intermediate uptrend. The company reported higher than consensus third quarter earnings.
Editor's Note: Seasonal influences on a real and relative basis are favourable to the end of November. If a subscriber to www.EquityClock.com , see: https://charts.equityclock.com/united-parcel-service-inc-nyseups-seasonal-chart
General Electric $GE an S&P 100 stock moved above $107.28 and $107.76 resuming an intermediate uptrend.
Seagen $SGEN a NASDAQ 100 stock moved above $177.75 extending an intermediate uptrend.
ANSYS $ANSS a NASDAQ 100 stock moved above $377.26 and $378.75 resuming an intermediate uptrend.
Lockheed Martin $LMT an S&P 100 stock moved below $335.10 setting an intermediate downtrend.
Brookfield Infrastructure $BIP a TSX 60 stock moved above US$58.58 to an all-time high extending an intermediate uptrend.
Celestica $CLS.CA a major Canadian technology stock moved above Cdn$12.58 to a three year high extending an intermediate uptrend. The company reported higher than consensus quarterly earnings.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Oct.25th 2021
Green: Increase from previous week
Red: Decrease from previous week
Commodities
Daily Seasonal/Technical Commodities Trends for Oct.26th 2021
Green: Increase from previous week
Red: Decrease from previous week
Sectors
Daily Seasonal/Technical Sector Trends for Oct.26th 2021
Green: Increase from previous week
Red: Decrease from previous week
All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)
The Next Big Move
Greg Schnell focuses on crude oil, grains and gold. Following is a link:
The Next Big Move | The Canadian Technician | StockCharts.com
Seasonality Chart of the Day from
Seasonal influences on a real and relative basis are positive for Materials SPDRs (XLB) until the first week in January.
Yesterday, XLB moved above $86.25 resuming an intermediate uptrend.
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.40 to 64.73 yesterday. It remains Overbought.
The long term Barometer eased 0.40 to 74.95 yesterday. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer slipped 2.42 to 69.08 yesterday. It remains Overbought.
The long term Barometer eased 0.48 to 67.63 yesterday. It remains Overbought.
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
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