U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade.
The Canadian Dollar was virtually unchanged at U.S. 75.25 cents following release of Canada's October Consumer Price Index at 8:30 AM EST. Consensus was a year-over-year gain of 1.9% versus an increase of 1.9% in September. Actual was a gain of 1.9%.
Urban Outfitters plunged $4.70 to $24.09 after reporting lower than consensus third quarter sales and earnings.
Target gained $10.15 to $120.93 after reporting higher than consensus third quarter revenues and earnings. The company also raised guidance.
Lowes gained $4.24 to $117.64 after reporting higher than consensus third quarter earnings.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/11/19/stock-market-outlook-for-november-20-2019/
Note seasonality charts on the Consumer Discretionary sector and U.S. Housing Starts
Observations
Turkey iShares moved above $26.98 resuming an intermediate uptrend.
Lumber prices responded to higher October New Housing Starts
StockTwits released yesterday @EquityClock
Constellation Software $CSU.CA, a TSX 60 stock moved above $1,356.82 to an all-time high extending an intermediate uptrend.
Thomson Reuters $TRI.CA, a TSX 60 stock moved above $94.28 to an all-time high extending an intermediate uptrend.
Canadian forest product stocks are responding favourably to an increase in U.S. October Housing Starts reported this morning including Interfor $IFP.CA, Norbord $OSB.CA and West Fraser $WFT. Nice breakout by Interfor above $16.27 extending an intermediate uptrend!
‘Tis the season for strength in forest product stocks until next spring! $WOOD $IFP.CA $WFT.CA $OSB.CA
‘Tis the season for lumber prices to move higher to early April! $LUMBER
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for November 19th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 19th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 19th 2019
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer dropped 2.00 to 69.34 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer slipped 0.45 to 65.16 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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