Tech Talk for Thursday November 5th 2020

NASDAQ 100 and S&P 100 Breakouts This Morning

ETF Breakouts This Morning

Materials SPDRs moved above $66.97 to an all-time high extending an intermediate uptrend.

Semiconductor ETFs SMH and SOXX broke to all-time highs

Hong Kong iShares moved above $22.96 extending an intermediate uptrend.

South Africa iShares moved above $40.56 extending an intermediate uptrend.

Pre-opening Comments for Thursday November 5th

U.S. equity index futures were higher this morning. S&P 500 futures were up 61 points in pre-opening trade.

Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EDT. Consensus was 732,000 versus 751,000 last week Actual was 751,000.

Qualcomm advanced $16.83 to $145.80 after reporting higher than consensus fiscal first quarter revenues and earnings.

Expedia gained $4.31 to $102.81 after reporting higher than consensus third quarter revenues and earnings.

General Motors gained $2.01 to $37.13 after reporting higher than consensus third quarter revenues and earnings.

Canadian Tire (CTC.A Cdn$ 147.73 ) is expected to open higher after reporting higher than consensus third quarter revenues and earnings. The company also raised its dividend.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/11/04/stock-market-outlook-for-november-5-2020/

Note seasonality charts on Crude Oil Days of Supply and U.S. Vehicle Sales

S&P 100 and NASDAQ 100 stocks breaking above intermediate resistance yesterday

ETFs breaking above intermediate resistance yesterday

Healthcare SPDRs (XLV) moved above $109.53 to an all-time high extending an intermediate uptrend .

Emerging Markets iShares moved above $46.34 extending an intermediate uptrend.

South Korea iShares moved above $68.49 extending an intermediate uptrend.

China Large Cap iShares moved above $45.93 extending an intermediate uptrend.

Ditto for the Morgan Stanley A shares (holding a portfolio of China A shares)!

Ditto for Taiwan iShares!

Ditto for Vietnam ETF!

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 4th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 4th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 4th 2020

Green: Increase from previous day

Red: Decrease from previous day

Market Buzz

Greg Schnell offers "Post elections ideas". His focus is on a favourable outlook for base metal stocks. Following is a link:

https://www.youtube.com/watch?v=8ezUWqOqhP0&feature=youtu.be&ab_channel=StockCharts

P.S. Increased demand for base metals is expected to come primarily from growth by Far East markets. Possible launch of an expanded infrastructure program in the U.S. promised by both Biden and Trump also is a plus.

Seasonal influences for base metal prices and base metal equity sector on a real and relative basis turn positive in mid/November/early December.

Copper Futures (HG) Seasonal Chart

Copper inventories on the LME are low: They recently recovered slightly from a 5 year low setting the stage for higher prices during their next period of seasonal strength

S&P 500 Momentum Barometer

The Barometer added 2.40 to 58.52 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer slipped 0.47 yesterday. It remains intermediate neutral.

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