Tech Talk for Wednesday November 16th 2022

U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.

Index futures improved slightly following release of the October U.S. Retail Sales report at 8:30 AM EST. Consensus was an increase of 0.8%. Actual was an increase of 1.3%. Excluding auto sales, October Retail Sales was expected to increase 0.4% versus a gain of 0.1% in September. Actual was an increase of 1.3%..

The Canadian Dollar eased 0.15 to US75.35 following release of Canada's October CPI report at 8:30 AM EST. October Canadian Consumer Price Index released at 8:30 AM EST was expected to increase 0.8% versus a gain of 0.1% in September. Actual was an increase of 0.7%. On a year-over-year basis, October CPI is expected to increase 7.0% versus a gain of 6.9% in September. Actual was an increase of 6.9%.

October U.S. Capacity Utilization to be released at 9:15 AM EST is expected to increase to 80.4% from September at 80.3%. October Industrial Production is expected to increase 0.2% versus a gain of 0.4% in September.

Advanced Auto Parts $AAP dropped $20.95 to $162.99 after reporting lower than consensus third quarter revenues and earnings.

Nike $NKE dropped $1.71 to $105.00 after warning of weakening demand for its products.

Target $TGT plunged $23.88 to $155.10 after reporting less than consensus fiscal third quarter results.

EquityClock's Daily Comment

Headline reads "Waning economic demand continues to take its toll on shipping and manufacturing activity, the trajectories of which point to a recession on the horizon".

http://www.equityclock.com/2022/11/15/stock-market-outlook-for-november-16-2022/

Technical Notes for yesterday

Wal-Mart $WMT a Dow Jones Industrial Average stock moved above $142.72 after reporting higher than consensus fiscal third quarter results.

ASML $ASML a NASDAQ 100 stock moved above $590.97 extending an intermediate uptrend.

Applied Material $AMAT a NASDAQ 100 stock moved above $111.37 extending an intermediate uptrend.

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

Visa $Van S&P 100 stock moved above $211.05 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 15th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 15th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 15th 2021

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Tom Bowley discusses "Home construction building momentum".

Home Construction "Building" Momentum | Tom Bowley | Trading Places (11.15.22) - YouTube

Jim Cramer reacts to earnings from Wal-Mart and Home Depot.

Jim Cramer reacts to earnings from Walmart, Home Depot - YouTube

According to Larry Williams, "The end of the year is near".

The End Is Near | Larry Williams Special Presentation (11.15.22) - YouTube

We have a positive view of the equity markets over the next 12 months, says Mariner’s Krumpelman: A comment on seasonality also is included.

We have a positive view of the equity markets over the next 12 months, says Mariner’s Krumpelman - YouTube

Joe Rabil has five attractive stocks on the charts.

5 Attractive Stocks | Joe Rabil | Your Daily Five (11.15.22) - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 3.00 to 81.80. It remains Overbought.

The long term Barometer added 2.60 to 55.20. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer added 2.12 to 75.00. It remains Overbought.

The long term Barometer added 1.69 to 46.19. 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