Tech Talk for Tuesday November 6th 2018

U.S. equity indices are lower this morning. S&P 500 futures were down 4 points in pre-opening trade.

Nutrien (NTR $71.47 Cdn) is expected to open higher after reporting higher than consensus third quarter sales and earnings. The company also increased its dividend and raised its fourth quarter guidcance.

Mosaic (MOS $32.22) is expected to open higher after reporting higher than consensus third quarter earnings. The company also raised its fourth quarter guidance.

Eli Lilly (LLY $110.14) is expected to open higher after the company reported higher than consensus third quarter earnings. The company also raised its guidance.

Bausch Health (BHC $33.45 Cdn) is expected to open higher after reporting higher than consensus third quarter revenues. The company also raised its guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/11/05/stock-market-outlook-for-november-6-2018/

Note seasonality charts for the Dow Jones Industrial Average during a Mid-term Election Year and a Pre-Election Year.

Observations

Selected international equity markets continue to recover from intermediate oversold levels.

Strength in spot uranium prices to the highest levels since March 2016 released on Friday had a positive impact on uranium stocks/ETF, particularly Cameco.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakouts: $COG $WLTW. Breakdown: $SYY

Editor's Note: After 10:00, intermediate breakouts included ICE and NRG. No breakdowns.

Natural gas ETN $UNG moved above $27.65 extending an intermediate uptrend. "Gassy" stocks ((e.g. $COG) are responding.

'Tis the season for natural gas prices to move higher to late December!

Editor's Note: Strength was related to a U.S. forecast predicting cooler and wetter weather in the U.S. during the remainder of November. U.S. natural gas inventories already are near a 20 year low for this time of year setting the stage for higher prices.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Following is a link:

https://www.valuetrend.ca/my-buy-signal/

Technical Scoop

Link to David Chapman's weekly report (compliments of Enriched Investments)

http://www.enrichedinvesting.com/PDF/October-bear-Booms-Busts-with-a-debt-heart-strong%20jobs-defers-recession-mid-terms-portend-market-rally.pdf

Jeff Parent from CastleMoore on BNNBloomberg's Market Call

Market Outlook

https://www.bnnbloomberg.ca/market-call/jeff-parent-s-market-outlook~1532217

Past Picks

https://www.bnnbloomberg.ca/market-call/jeff-parent-s-past-picks~1532277

Top Picks:

https://www.bnnbloomberg.ca/market-call/jeff-parent-s-top-picks~1532278

S&P 500 Momentum Barometer

The Barometer added another5.80 to 28.80 yesterday. It remains intermediate oversold and has started to trend higher.

TSX Momentum Barometer

The Barometer gained another 7.38 to 28.22 yesterday. It remains intermediate oversold and has started to trend higher.

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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