Tech Talk for Wednesday November 10th 2021
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade.
Index futures moved lower following release of the October Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.6% versus a gain of 0.4% in September. Actual was an increase of 0.9%. Excluding food and energy, consensus was an increase of 0.4% versus a gain of 0.2% in September. Actual was an increase of 0.6%.
General Electric added another $1.29 to $112.58 after the company announced a restructure into three separate entities. Deutsche Bank raised its rating from Hold to Buy. In addition, the company announced plans to re-purchase debt valued up to $23 billion.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/11/clip_image0011-2.png "clip_image001[1]")
Krispy Kreme advanced $0.57 to $13.55 after reporting higher than consensus quarterly revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/11/clip_image0021-6.png "clip_image002[1]")
Wendy's gained $0.06 to $23.10 after reporting higher than consensus third quarter revenues and earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/11/clip_image0031-3.png "clip_image003[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/11/09/stock-market-outlook-for-november-10-2021/
Technical Notes released yesterday at
Eurozone iShares $EZU moved above $51.58 to an all-time high. Seasonal influences on a real and relative basis are favourable to January 5th. If a subscriber to EquityClock, see seasonality chart at charts.equityclock.com/isha…
Junior Gold ETF $GDXJ moved above $45.75 setting an intermediate uptrend.
Infrastructure beneficiaries were the big winners during Monday's session, just in time for the start of the optimal holding periods for each around the middle of November. equityclock.com/2021/11/08/… $SLX $XME $PKB
General Electric $GE moved above $115.02 and $115.14 extending an intermediate uptrend. The company announced a restructuring into three new entities.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Nov.9th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Nov.9th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Nov.9th 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX).
Seasonality Chart of the Day from www.EquityClock.com
Seasonal influences for Technology SPDRs (Symbol: XLK) relative to the S&P 500 Index changes from Positive to Neutral from November 10th to January 15th
XLK remains in an intermediate uptrend. However, daily momentum indicators (i.e. Stochastics, RSI and MACD) are Overbought and rolling over.
S&P 500 Barometers
The intermediate Barometer slipped 0.60 to 73.15 yesterday. It remains Overbought.
The long term Barometer added 0.20 to 76.15 yesterday. It remains Overbought.
TSX Barometers
The intermediate Barometer slipped 0.96 to 76.08 yesterday. It remains Overbought.
The long term Barometer added 0.48 to 71.29 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
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