Tech Talk for Friday November 30th 2018
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. Investors are waiting for news related to trade negotiations between China and the U.S.
The Canadian Dollar dipped 0.25 to U.S.75.04 cents after September GDP was released. Consensus was annualized growth at a 2.3% rate. Actual was 2.1%.
Hewlett Packard (HPQ $22.86) is expected to open higher after announcing higher than consensus fiscal fourth quarter earnings.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/11/clip_image0015-4.png "clip_image001[5]")
Marriott dropped $7.04 to $114.80 after the company announced a data breach of its computer system.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/11/clip_image0025-9.png "clip_image002[5]")
VMWare gained $11.52 to $173.00 after the company announced higher than consensus quarterly results. Stifel Nicolaus, JP Morgan, Raymond James and Wedbush raised their target price on the stock.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/11/clip_image0035-3.png "clip_image003[5]")
Goldman Sachs dropped $3.59 to $191.26 after Bank of America/Merrill downgraded the stock to Neutral from Buy.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/11/clip_image0045-2.png "clip_image004[5]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/11/29/stock-market-outlook-for-november-30-2018/
Note seasonality charts on the Technology sector, Initial Jobless Claims and Continuing Claims
Don Vialoux on "Wolf on Bay Street"
Mr. Vialoux was interviewed on Wolfgang Klein's "Wolf on Bay Street" weekly show to be broadcast at 7:00 AM EST tomorrow (Saturday) on Hi Fi Radio 640. Comments included discussion on how equity markets are setting up for the Santa Claus rally.
StockTwits Released Yesterday @EquityClock
Technical action by S&P 500 stocks to 10:30: Quiet. Intermediate breakout: $NLSN. Breakdown: $DGX
Editor's Note: After 10:30 AM EST, breakouts included FAST, TDG, YUM, HCA, PFE, LRCX, KEYS, CI, AMGN, CINF and PKI. No breakdowns.
Saputo $SAP.CA, a TSX 60 stock moved above $40.69 setting an intermediate uptrend.
HudBay Minerals $HBM.CA moved above $6.98 setting an intermediate uptrend.
Precision Drilling $PD.CA $PDS moved below $3.03 Cdn and $2.31 U.S. extending an intermediate downtrend.
FirstService $FSV.CA moved above $99.50 setting an intermediate uptrend.
Pfizer $PFE, a Dow Jones Industrial stock moved above $45.46 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for November 29th 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 29th 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 29th 2018
Green: Increase from previous day
Red: Decrease from previous day
http://www.equityclock.com/about/seasonal-advantage-portfolio/
S&P 500 Momentum Barometer
The Barometer slipped 1.80 to 49.80 yesterday. It remains Intermediate Neutral.
TSX Momentum Barometer
The Barometer gained 1.65 to 36.78 yesterday. It remains Intermediate Oversold and trending higher.
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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