Tech Talk for Thursday November 22nd 2018

U.S. equity markets are closed for the Thanksgiving holiday. Index futures were slightly lower in overnight trade. Asian equity markets were mixed and European equity markets were lower in overnight trade.

The Canadian Dollar added 0.04 to 75.62 cents U.S. following release of the Federal Government's fiscal review.

EquityClock's Daily Market Comment for today and tomorrow

Following is a link:

http://www.equityclock.com/2018/11/21/stock-market-outlook-for-november-22-23-2018/

Note seasonality charts on Crude Oil Days of Supply, Gasoline Days of Supply, WTI Crude, Durable Goods Orders, Existing Home Sales and Inventory of Existing Homes.

Upcoming BNNBloomberg Appearance

Jon Vialoux will be on BNN's Market Call Tonight at 6:00pm ET this Friday, November 23rd taking your calls on Technical Analysis and Seasonal Investing. 

CALL TOLL-FREE 1-855-326-6266,

EMAIL marketcall@bnnbloomberg.ca,

  or TWEET @MarketCall.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $FL. Breakdowns: $JBHT $XRX.

SNC Lavalin $SNC.CA, a TSX 60 stock moved above $48.70 completing a bottoming pattern.

'Tis the season for strength in SNC Lavalin $SNC.CA to year end!

TransCanada PipeLines $TRP.CA, a TSX 60 stock moved above $53.90 and $54.22 setting an intermediate uptrend.

'Tis the season for TransCanada PipeLine to move higher to year end!

Copper stocks are popping: $FM.CA $LUN.CA $HBM.CA $FCX.

'Tis the season for the Metals & Mining industry to move higher to year end! $PICK $COPX $XBM.CA $ZMT.CA

Dollarama $DOL, a TSX 60 stock moved below $33.50 extending an intermediate downtrend.

Bit of relief on #Housing front as US Existing Home Sales rise 5.9% (NSA) in October, bucking 1.3% average decline for month $MACRO #Economy

US Durable Goods Orders down 4.9% (NSA) in October, weaker than the 4.1% decline that is average for the month. $MACRO #Economy

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

Schachter Energy Report

Josef Schachter just turned positive on the Canadian energy sector in his November report based on value, sentiment and technicals. The report is available by subscription. See:

https://www.schachterenergyreport.ca/

Editor's Note: Seasonal influences support Josef's stance: Seasonality for the Canadian energy sector turns positive in mid-November. The sector is subject to tax loss selling pressures between now and mid-December and is expected to go through a bottoming process to be concluded by mid-January. Thereafter, the sector is expected to enter an intermediate uptrend lasting to next May/June. The prediction is based on average weather this winter. However, the latest U.S. natural gas inventory report released yesterday, showing higher than average drawdowns for this time of year, indicate that this winter is starting at a much colder level than average. (Diminished sunspot activity???) The implication is that recent advances in natural gas prices likely will be sustained.

Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2013 through 2017. The dashed vertical lines indicate current and year-ago weekly periods.

Paying it Forward

If you are enjoying the valued daily free investment services offered by Tech Talk and would like an opportunity to "Pay it Forward"; here is your chance for donating to a worthy charity — Tech Talk's favourite - Wellspring. It is a Canadian leader in the provision of supportive care to cancer patients and their caregivers.  All the programs and resources are provided at no charge to the members.  

Jan and Don Vialoux are actively involved in the organization. Don is a cancer survivor.

Wellspring's biggest charity event each year is its "Light Up Wellspring" event where individuals and companies make donations in order to "buy lights" that light up facilities for the Christmas season. You can sponsor a bulb, strand of lights, guiding star, wreath or tree. Your donation will be recognized throughout the center on paper bulbs, guiding stars, wreaths or trees. Wellspring is a registered charity. Tax receipts are issued for value received.

On November 29th 2018, Wellspring welcomes the community, families and friends to light up their local Wellspring Centre with a holiday open house including festive refreshments, a bake sale and silent auction. Last year, the event raised over $55,000.

Background on the event

A link to Wellspring's services and how to donate are offered below

Give $5 and light up a bulb
(minimum of $10 donation online)

Give $25 and light up a strand of bulbs

Give $150 and light up a guiding star

Give $250 and light up a wreath or Hanukkah menorah

Give $1000 and light up a holiday tree

Event Details:
Thursday, November 29th 2018
5:00pm - 8:30pm, Official Lighting Ceremony at 6:30pm.
Wellspring Birmingham Gilgan House, 2545 Sixth Line, Oakville, ON L6H 7V9

S&P 500 Momentum Barometer

The Barometer added 0.80 to 29.60 yesterday. It remains intermediate oversold.

TSX Momentum Barometer

The Barometer gained 7.30 to 32.51 yesterday. It remains intermediate oversold.

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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