Tech Talk for Friday November 20th 2020
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.
The Canadian Dollar added 0.04 to US76.62 cents following release of Canada's September Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.4% in August. Actual was an increase of 1.1%
Workday added $10.20 to $241.00 after reporting higher than consensus quarterly results. The company also offered positive guidance.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0015-13.png "clip_image001[5]")
Pepsico (PEP $143.22) is expected to open higher after the company increased its annual dividend by 7%.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0025-11.png "clip_image002[5]")
Foot Locker gained $1.09 to $42.42 after reporting higher than consensus third quarter sales and earnings.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0035-7.png "clip_image003[5]")
Ttuist raised its ratings on U.S. home builder stocks. Toll Brothers, Pulte Homes and DR Horton were upgraded from Hold to Buy. Target price on Lennar was boosted from $62 to $93.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0045-4.png "clip_image004[5]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/11/19/stock-market-outlook-for-november-20-2020/
Note seasonality charts on Natural Gas Storage and U.S. Existing Home Sales
Technical Notes for Thursday November 19th
Junior Gold Equity ETF (GDXJ) moved below $51.27 extending an intermediate downtrend.
Tesla (TSLA), a stock recently selected to join the list of S&P 500 stocks moved above $502.49 to an all-time high extending an intermediate uptrend.
Norbord (OSB) moved above $48.30 on news that West Fraser Timber and Norbord have agreed to merge in an all-stock deal.
Other Canadian forest product stocks also responded. Interfor (IFP) moved above $19.00 extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for November 19th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 19th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 19th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0017-5.png "clip_image001[7]")
The Barometer slipped 0.20 to 81.16 yesterday. It remains extremely intermediate overbought.
TSX Momentum Barometer
![clip_image002[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0027-3.png "clip_image002[7]")
The Barometer added 1.88 to 66.67 yesterday. It remains intermediate 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
| More from the network: |