Tech Talk for Wednesday November 2nd 2022
U.S. equity index futures were mixed this morning. S&P 500 futures were down 2 points in pre-opening trade.
Focus today is the FOMC announcement on monetary policy at 2:00 PM EDT. Consensus calls for an increase in the Fed Fund Rate by 0.75% to 3.75%-4.00% and a $95 billion asset purchase.
Advanced Micro Devices $AMD added $2.41 to $62.07 after the company offered positive fourth quarter revenue guidance
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/11/clip_image0011-1.png "clip_image001[1]")
AirBNB $ABNB dropped $7.50 to $101.55 after the company lowered fourth quarter guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/11/clip_image0021-1.png "clip_image002[1]")
Match $MTCH jumped $7.24 to $51.14 after the company reported higher than consensus third quarter revenues and earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/11/clip_image0031-1.png "clip_image003[1]")
Ceasar's $CZR gained $2.41 to $46.80 after the company reported higher than consensus third quarter revenues and earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/11/clip_image0041-1.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "A sharp falloff in hires in September's Job Openings and Labor Turnover report is presenting a skewed look at the state of demand for labor heading into the fall".
http://www.equityclock.com/2022/11/01/stock-market-outlook-for-november-2-2022/
Technical Notes for yesterday
BMO Equal Weight Base Metals ETF $ZMT.TO moved above intermediate resistance at $45.87.
Simon Properties $SPG an S&P 100 stock moved above $114.03 extending an intermediate uptrend.
Monster Beverages $MNST a NASDAQ 100 stock moved above intermediate resistance at $94.23.
Regeneron $REGN a NASDAQ 100 stock moved above $761.04 to an all-time high extending an intermediate uptrend.
Silver stocks are responded to strength in silver prices. First Majestic $AG added moved above Cdn$9.02 extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for November 1st 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 1st 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 1st 2021
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometers
The intermediate term Barometer added 0.20 to 62.40 yesterday. It remains Overbought. Trend remains up.
The long term Barometer added 0.40 to 38.00 yesterday. It remains Oversold. Trend remains up.
TSX Momentum Barometers
The intermediate term Barometer added 4.24 to 56.78 from THURSDAY. It remains Neutral. Trend remains up.
The long term Barometer added 2.96 to 36.86 from THURSDAY. It remains Oversold. Trend remains up.
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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