Tech Talk for Thursday October 28th 2021

U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.

Trading volume was relatively quiet this morning prior to release of annualized third quarter real GDP at 8:30 AM EDT. Consensus is growth at a 2.8% rate versus growth at a 6.7% in the second quarter.

Ford added $1.36 to $16.87 after reporting higher than consensus third quarter results. The company also raised guidance for the fourth quarter and proposed resumption of a dividend payment.

eBay dropped $0.84 to $76.82 reporting lower than consensus fourth quarter revenues. The company also lowered guidance.

KLA Tencor added $11.43 after reporting higher than consensus third quarter earnings.

Aflac slipped $0.99 to $55.01 after reporting lower than consensus third quarter revenues.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/10/27/stock-market-outlook-for-october-28-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

New Home Sales showed an abnormal jump last month, rising by 14.0%, representing the second largest September increase on record. The average change is a decline of 5.5%. $MACRO $STUDY $XHB $ITB $LEN $PHM $TOL #Economy #Housing

The ratio of bonds over stocks has broken below declining trendline support that has been intact for over a decade, but the move just confirms our bias towards the latter. equityclock.com/2021/10/26/… $STUDY $SPX $SPY $IEF $TLT

Clean energy stock Enphase surging by almost 30% today following a strong earnings report for the third quarter. We provided favorable comments on the stock and the industry in our Market Outlook for October 25th. Seasonally, the stock tends to gain, on average, through the last couple of months of the year. $ENPH $TAN $ICLN

Solar ETF $TAN moved above $93.49 resuming an intermediate uptrend.

Corn ETN $CORN moved above $20.73 setting a short term uptrend.

U.S. infrastructure ETF $PAVE moved above $27.75 to an all-time high extending an intermediate uptrend. Responding to imminent expectation for signing of an infrastructure bill by U.S. Congress

Lululemon $LULU a NASDAQ 100 stock moved above $437.32 to an all-time high extending an intermediate uptrend.

Alphabet $GOOG a NASDAQ 100 stock moved above $2936.41 to an all-time high extending an intermediate uptrend.

Visa $V an S&P 100 stock moved below $216.31 completing a Head & Shoulders pattern.

Capital One $COF an S&P 100 stock moved below $152.13 completing a Head & Shoulders pattern.

Texas Instruments $TXN a NASDAQ 100 stock moved below support at $186.52 following release of less than consensus third quarter revenues.

Twitter $TWTR a NASDAQ 100 stock moved below $57.64 following release of quarterly results extending an intermediate downtrend.

Fiserv $FISV a NASDAQ 100 stock moved below $102.68 and $100.36 extending an intermediate downtrend

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.27th 2021

Green: Increase from previous week

Red: Decrease from previous week

Commodities

Daily Seasonal/Technical Commodities Trends for Oct.27th 2021

Green: Increase from previous week

Red: Decrease from previous week

Sectors

Daily Seasonal/Technical Sector Trends for Oct.27th 2021

Green: Increase from previous week

Red: Decrease from previous week

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

Links offered by valued providers

Thank you to Mark Bunting and www.uncommonsenseinvestor.com for the following links:

BANG: Why Gold Miners Could Make FAANG Look Tame – Uncommon Sense Investor

Editor's Note: Period of seasonal strength for the sector starts in mid-December.

Scary Headline Alert: "Next Bear Market Will Be the Worst in My Lifetime" – 11 Ideas to Survive It. – Uncommon Sense Investor

Editor's Note: Another favourable comment on precious metals, but from a different angle.

Market Buzz by Greg Schnell

Headline reads, "Charting to Bitcoins and Tesla to trade"

https://www.youtube.com/watch?v=jthbJSD93oM

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 7.41 to 57.31 yesterday. It changed from Overbought to Neutral on a drop below 60.00.

The long term Barometer dropped 3.41 to 71.54 yesterday. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer plunged 10.34 to 58.74 yesterday. It changed from Overbought to Neutral on a move below 60.00.

The long term Barometer dropped 3.58 to 64.08 yesterday. It remains 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