Tech Talk for Tuesday November 15th 2022

U.S. equity index futures were higher this morning. S&P 500 futures were up 77 points in pre-opening trade.

Equity index futures moved higher following release of economic news at 8:30 AM EST. October Producer Price Index was expected to increase 0.4% versus a gain of 0.4% in September. Actual was an increase of 0.2% On a year-over-year basis October PPI was expected to increase 8.3% versus 8.5% in September. Actual was an increase of 8.0% Excluding food and energy, October Producer Price Index was expected to increase 0.4 % versus a gain of 0.3% in September. Actual was unchanged . On a year-over-year basis, October PPI was expected to increase 7.2% versus a gain of 7.2% in September. Actual was an increase of 6.7%. November Empire State Manufacturing Survey was expected to improve to -7.00 from -9.10 in October. Actual was an improvement to +4.5.

Taiwan Semiconductor advanced $4.50 to $77.20 after Berkshire Hathaway announced accumulation of the stock in the third quarter.

Home Depot slipped $2.92 to $304.00 after lowering fiscal fourth quarter guidance.

Louisiana Pacific advanced $5.50 to $64.40 after Berkshire Hathaway announced accumulation of the stock in the third quarter.

EquityClock's Daily Comment

Headline reads "Major benchmarks are testing resistance at their summer highs, a logical point for near-term digestion before the next period of seasonal strength begins".

http://www.equityclock.com/2022/11/14/stock-market-outlook-for-november-15-2022/

Technical Notes for yesterday

NASDAQ Biotech iShares $IBB moved above $134.99 and $135.35 completing a long term reverse Head & Shoulders pattern.

Caterpillar $CAT a Dow Jones Industrial Average stock moved above $238.42 to an all-time high extending an intermediate uptrend.

Comcast $CMCSA an S&P 100 stock moved above $34.26 completing a base building pattern.

AbbVie $ABBV an S&P 100 stock moved above $153.99 extending an intermediate uptrend.

Oracle $ORCL an S&P 100 stock moved above $79.47 extending an intermediate uptrend.

Netlflix $NFLX a NASDAQ 100 stock moved above $305.63 extending an intermediate uptend.

Magna International $MG.TO a TSX 60 stock moved above $83.77 resuming an intermediate uptrend.

Silver stocks continue to respond to higher silver prices. Hecla Mining $HL moved above $5.17 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 14th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 14th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 14th 2021

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued provider

Mary Ellen McGonagle sees "Sharp reversals and how to capitalize".

Sharp Reversals And How To Capitalize | Mary Ellen McGonagle | The MEM Edge (11.11.22) - YouTube

Leslie Jouflas discusses "Monitoring key S&P 500 levels".

Monitoring Key S&P 500 Levels | Leslie Jouflas, CMT | Your Daily Five (11.14.22) - YouTube

Teal Linde's top market picks

Teal Linde’s Top Market Picks - YouTube

Lisa Riesman says "Conditions may be right for another nickel squeeze". Also a discussion on copper, lithium and aluminum

Conditions may be ripe for another Nickel squeeze - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 3.20 to 78.80. It remains Overbought.

The long term Barometer dropped 3.00 to 52.40. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer dropped 4.24 to 72.88. It remains Overbought.

The long term Barometer dropped 6.78 to 44.49. It remains Neutral.

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