Tech Talk for Wednesday November 18th 2020
Lowe's (LOW), an S&P 100 stock moved below $151.37 completing a modified Head & Shoulders pattern.
![clip_image001[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0017-3.png "clip_image001[7]")
Regeneron (REGN), a NASDAQ 100 stock moved below $533.23 extending an intermediate downtrend.
![clip_image002[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0027-1.png "clip_image002[7]")
Selected Canadian "gassy" stocks are breaking out. Freehold Royalties moved above $4.70 extending an intermediate uptrend. PrairieSky Royalties moved above $9.82.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0035-5.png "clip_image003[5]")
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0045-2.png "clip_image004[5]")
Pre-opening Comments for Wednesday November 18th
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.
Index futures were virtually unchanged following release of U.S. October Housing Starts report at 8:30 AM EST. Consensus was an increase to 1,460,000 units from 1,415,000 in September. Actual was.an increase to 1,530,000 units.
The Canadian Dollar was virtually unchanged at US76.47 cents following release of Canada's October Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a decline of 0.1% in September. Actual was an increase of 0.4%.
Boeing added $10.95 to $221.00 after receiving FAA approval to resume flights of its 737 Max aircraft. Baird raised its target price on the stock to $306.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0015-11.png "clip_image001[5]")
Target gained $4.66 to $167.70 after reporting higher than consensus third quarter earnings.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0025-9.png "clip_image002[5]")
TJX companies advanced $1.60 to $62.74 after reporting higher than consensus third quarter sales and earnings.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/11/17/stock-market-outlook-for-november-18-2020/
Note seasonality charts on U.S. Retail Trade and U.S. Industrial Production
Technical Notes for Tuesday November 17th
Royal Bank (RY), a TSX 60 stock moved above $101.71 resuming an intermediate uptrend.
Toronto Dominion (TD), a TSX 60 stock moved above $66.56 resuming an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for November 17th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 17th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 17th 2020
Green: Increase from previous day
Red: Decrease from previous day
&P 500 Momentum Barometer
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0011-5.png "clip_image001[1]")
The Barometer eased 2.00 to 84.57 yesterday. It remains extremely intermediate overbought.
TSX Momentum Barometer
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/11/clip_image0021-7.png "clip_image002[1]")
The Barometer eased 1.88 to 68.54 yesterday. It remains intermediate 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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