Tech Talk for Tuesday November 13th 2018
U.S. equity index futures moved higher this morning. S&P 500 futures were up 11 points in pre-opening trade.
Home Depot gained $2.47 to $181.90 after reporting higher than consensus third quarter results. The company also raised its guidance.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/11/clip_image0015-2.png "clip_image001[5]")
NVIDIA added $3.07 to $192.61 after Susquehanna upgraded the stock to Positive from Neutral.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/11/clip_image0025-4.png "clip_image002[5]")
Michael Kors slipped $0.03 to $47.75 after MKM Partners lowered its target price to $52 from $74.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/11/clip_image0035-1.png "clip_image003[5]")
Tyson Foods (TSN $61.61) is expected to open lower after reporting lower than consensus fiscal fourth quarter revenues.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2018/11/clip_image0045.png "clip_image004[5]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/11/12/stock-market-outlook-for-november-13-2018/
Note seasonality charts on the Technology sector and the Nikkei Average.
Observations
The VIX Index spiked, led by weakness in the Technology sector (notably Apple).
The Euro dropped to a 15 month low on strength in the U.S. Dollar Index to a 15 month high.
StockTwits Released Yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: (including 4 Utilities): $GIS $HSY $ED $FE $NEE $XEL. No breakdowns.
Editor's Note: After 10:00 AM EST, breakouts included CMG, EVRG, LLY and PLD. Breakdown: GS.
Goldman Sachs $GS, a Dow Jones Industrial stock moved below $208.40 extending an intermediate downtrend.
Silver Equity ETF $SIL moved below $22.70 extending an intermediate downtrend.
Trader's Corner
Note the breaks below 20 day moving average by a wide variety of equity markets, commodities and sectors
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for November 12th 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 12th 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 12th 2018
Green: Increase from previous day
Red: Decrease from previous day
Keith Richards' Blog
Following is a link:
https://www.valuetrend.ca/monday-madness-is-todays-selloff-a-reason-to-panic/
CSTA Oakville Chapter Monthly Meeting – November
? When: 14 Nov 2018
? 7:30 PM – 9:30 PM
? Location
River Oaks Community Centre – Community Room C 2400 Sixth Line, Oakville
Registration
? Guest Registration (first time visitors: Free. Please email bm@csta.org to register) - Others: $17.70
? Member Registration: Free
Presenter – Don Vialoux
o Past President of the Canadian Society of Technical Analysts (CSTA).
o Chartered Market Technician (CMT) designation. Title of the thesis to earn the designation was "Seasonality in Canadian Equity Prices".
o Fifty years of experience in the investment industry.
o Advisor to the Horizons Seasonal Rotation ETF: 2009-2015
o Co-author of daily blogs on equity markets available free on the internet. The blogs are accessed at www.timingthemarket.ca and www.equityclock.com
o Frequent presenter on BNNBloomberg, Michael Campbell's Money Show and Wall Street Raw.
o Co-author of comments at www.StockTwits.com@EquityClock with over 46,000 followers. Inter-day technical comments are provided on equity indices, commodities, currencies, ETFs and actively traded U.S. and Canadian equities.
Topic – Timing the Market using Seasonal, Technical and Fundamental Research
**Members unable to attend in person are invited to join us remotely here. Not a member? Join here.
Technical Scoop
Link to David Chapman's Weekly Technical Scoop (Compliments of www.EnrichedInvesting.com )
S&P 500 Momentum Barometer
The Barometer plunged 10.00 to 36.20 yesterday. It returned to Intermediate oversold from intermediate Neutral.
TSX Momentum Barometer
The Barometer slipped 1.12 to 31.80 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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