Tech Talk for Wednesday October 31st 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade.

Index futures moved higher following release of the October ADP Employment report at 8:15 AM EDT. Consensus was 195,000 versus a revised 218,000 in September. Actual was 227,000

Facebook gained $7.32 to $153.55 after reporting higher third quarter revenues.

General Motors gained $2.61 to $36.15 after reporting higher than consensus third quarter sales and earnings. The company also raised guidance.

eBay (EBAY $) is expected to open higher after reporting higher than consensus third quarter sales and earnings.

Amgen (AMGN $) is expected to open higher after reporting higher than consensus earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/10/30/stock-market-outlook-for-october-31-2018/

Note seasonality chart on the Case/Shiller Home Price Index.

Observations

Early technical signs of a short term bottom in U.S. equities have appeared Short term momentum indicators for the equally weighted S&P 500 ETF turned higher from deeply oversold levels yesterday.

Short term momentum indicators for selected sectors (Banks, Autos) also show turned higher from deeply oversold levels.

StockTwits Released Yesterday@EquityClock

Visa $V, a Dow Jones Industrial stock moved below $132.26 setting an intermediate downtrend.

Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $UA $UAA $HCP. Breakdowns: $STZ $RIG $V $ECL

Editor's note: After 10:00 AM EDT, breakouts included SPG, LB, SBAC and JWN. Breakdown: SRE

Pembina Pipelines $PPLCA moved below $42.31 extending an intermediate downtrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for October 30th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 30th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 30th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

Short term technical evidence that the S&P 500 Index may have reached a bottom. The Barometer gained 6.00 to 22.20 from a deeply oversold level yesterday.

TSX Momentum Barometer

The Barometer improved 1.66 to 13.69 yesterday. It remains deeply intermediate oversold, but significant evidence of a bottom has yet to arrive.

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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