Tech Talk for Wednesday November 27th 2024
U.S. equity index futures were lower this morning. S&P 500 futures were down points at 8:35 AM EST.
U.S. equity index futures were unchanged following release of economic news at 8:30 AM EST. Consensus for third quarter annualized third quarter U.S. GDP was a 2.8% gain versus a 3.0% gain in the second quarter. Actual was 2.8%. Consensus for October Durable Goods Orders was up 0.5% versus unchanged in September. Actual was up 0.2%
HP Inc dropped $3.00 to $36.10 after offering lower than consensus fiscal first quarter earnings guidance.
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2024/11/clip_image0014-4.png "clip_image001[4]")
Dell dropped $14.49 to $127.25 after reporting weaker than consensus Personal Computer sales.
![clip_image002[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2024/11/clip_image0024-4.png "clip_image002[4]")
Workday dropped $29.19 to $342.00 after offering fourth quarter guidance below consensus.
![clip_image003[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2024/11/clip_image0034-4.png "clip_image003[4]")
Autodesk dropped $29.26 to $288.70 after third quarter operating margins declined.
![clip_image004[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2024/11/clip_image0044-4.png "clip_image004[4]")
EquityClock's stock market outlook for November 27th
Market breadth is remaining bullish heading through the end of the year, conducive to the normal year-end melt-up in stocks. See:
https://equityclock.com/2024/11/26/stock-market-outlook-for-november-27-2024/
Technical Notes
S&P 500 Index and its related iShares: SPY closed at an all-time high extending an intermediate uptrend.
Utilities SPDRs $XLU moved above $82.50 to an all-time high extending an intermediate uptrens.
DexCom $DXCM a NASDAQ 100 stock moved above $77.77 completing a double bottom pattern.
Cintas $CTAS a NASDAQ 100 stock moved above $226.95 to a all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for November 26th 2024
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 November 26th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 26th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Five Must-Have Tools for Analyzing Stock Charts: David Keller
Five Must-Have Tools for Analyzing Stock Charts - YouTube
Investors should trim into the riskiest parts of the market, says John Hancock’s Emily Roland
Expect Tech to Drag & Airlines to Soar, SPX Retests 6,000: Schwab Network
Discusses sectors that benefit from the "Santa Claus Rally"
Expect Tech to Drag & Airlines to Soar, SPX Retests 6,000 - YouTube
MSTR & Bitcoin’s Crypto Link, Gold & Crypto ETFs to Watch: Schwab Network
MSTR & Bitcoin’s Crypto Link, Gold & Crypto ETFs to Watch - YouTube
Oil prices are now ‘a touch too low’ relative to inventory, says Goldman Sachs’ Daan Struyven
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.40 to 68.80. It remains Overbought.
The long term Barometer dropped 1.40 to 75.40. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer dropped 3.65 to 55.71. It remains Neutral.
The long term Barometer dropped 1.83 to 73.52. It remains Overbought.
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
| More from the network: |