Tech Talk for Thursday November 21st 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was a drop to 215,000 from upwardly revised 227,000 last week. Actual was 227,000. Consensus for the November Philly Fed Index was an increase to 7.0 from 5.6 in October. Actual was an increase to 10.4.
Tiffany gained $4.40 to $127.73 after LVMH raised its proposal to buy the company to $130 from $120
![clip_image001[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/11/clip_image0013-1.png "clip_image001[3]")
PayPal slipped $1.59 to $102.50 after announcing purchase of Honey for approximately $4 billion.
![clip_image002[4]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/11/clip_image0024.png "clip_image002[4]")
Charles Schwab (SCHW $44.75) and TDAmeritrade (AMTD $41.38) are in merger talks.
Target gained $1.02 to $127.45 after Raymond James and Deutsche Bank raised their target price on the stock.
![clip_image003[2]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/11/clip_image0032.png "clip_image003[2]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/11/20/stock-market-outlook-for-november-21-2019/
Note seasonality chart on Canada's Consumer Price Index
StockTwits released yesterday @EquityClock
Target $TGT, an S&P 100 stock moved above $114.15 to an all-time high extending an intermediate uptrend.
Oil & Gas Exploration iShares $XOP moved below $20.37 extending an intermediate downtrend.
Home Depot $HD, a Dow Jones Industrial stock moved below $222.12 completing a double top pattern.
Coal ETF $KOL moved below $10.55 extending an intermediate downtrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for November 20th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 20th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 20th 2019
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/11/clip_image0011-7.png "clip_image001[1]")
The Barometer slipped 0.20 to 69.14 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/11/clip_image0021-8.png "clip_image002[1]")
The Barometer was unchanged yesterday at 63.35. 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
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