Tech Talk for Tuesday October 31st 2023
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points at 8:35 AM EDT.
The Canadian Dollar slipped 0.06 to US72.26 cents following release of Canada's August GDP at 8:30 AM EDT. Consensus was an increase of 0.1% versus no change in July. Actual was no change. On a year-over-year basis consensus was an increase of 0.9 versus a gain of 1.1% in July. Actual was an increase of 0.9%.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/10/clip_image0015-1.png "clip_image001[5]")
Another semiconductor equity drop! Lattice Semiconductor plunged $9.13 to $58.16 after lowering fourth quarter guidance.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/10/clip_image0025-1.png "clip_image002[5]")
Pinterest added $3.25 to $28.35 after reporting higher than consensus third quarter revenues and earnings.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/10/clip_image0035-1.png "clip_image003[5]")
VF Corp dropped $0.82 to $16.30 after reporting less than consensus quarterly results.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/10/clip_image0045.png "clip_image004[5]")
EquityClock's Daily Comment
Headline reads "Signs of a near-term peak on the US Dollar Index is leading to a rebound of a number of currencies from pivotal points of support".
https://equityclock.com/2023/10/30/stock-market-outlook-for-october-31-2023/
Technical Notes
Energy SPDRs $XLE moved below $66.82 completing a double top pattern.
Okta $OKTA a NASDAQ 100 stock moved below $66.82 setting an intermediate downtrend.
Microchip Technology $MCHP a NASDAQ 100 stock moved below $69.59 extending an intermediate downtrend.
ON Semiconductor, $ON a NASDAQ 100 stock moved below $66.67 extending an intermediate downtrend.
Constellation Software $CSU.TO a TSX 60 stock moved below Cdn$2,667.09 completing a double top pattern.
Franco-Nevada $FNV.TO and $FNV a TSX 60 stock moved below $Cdn$175.33 and US$127.45 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Oct.27th 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for October 27th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 27th 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Here are 5 reasons why U.S. stocks will likely rally into the end of 2023, says one Wall Street veteran
Indicators Warn Market Is At Crucial Pivot Point | Your Daily Five (10.30.23)
https://www.youtube.com/watch?v=rlN-ws1vWyY
Bad News For Buyers Weighing Hefty Mortgage Rates | The DecisionPoint Trading Room (10.30.23)
The Final Bar with David Keller, CMT | LIVE Q&A! | 4pm ET, 1pm PT | Oct. 30th, 2023
The Final Bar with David Keller, CMT | LIVE Q&A! | 4pm ET, 1pm PT | Oct. 30th, 2023 - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.80 to 14.40. It remains Oversold.
The long term Barometer added 3.80 to 28.40. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer eased 1.76 to 25.99. It remains Oversold.
The long term Barometer added 2.20 to 30.40. It remains Oversold.
Disclaimer: Seasonality ratings 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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