Tech Talk for Wednesday November 22nd 2023
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points at 8:35 AM EST.
Index futures were unchanged following release of October Durable Goods Orders at 8:30 AM EST. Consensus was -3.0% versus +4.7% in September. Actual was -5.4%.
The Canadian Dollar slipped 0.12 to US 72.87 cents following release of the Federal Government's economic update.
Autodesk gained $5.44 to $223.11 after reporting higher than consensus third quarter revenues and profits.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/11/clip_image0011-10.png "clip_image001[1]")
NVidia dropped $4.65 to $499.44 despite reporting higher than consensus third quarter revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/11/clip_image0021-12.png "clip_image002[1]")
Urban Outfitters added $0.64 to $36.95 after reporting higher than consensus third quarter results. The company also offered positive fourth quarter guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/11/clip_image0031-10.png "clip_image003[1]")
Deere dropped $23.65 to $359.00 after lowering fiscal first quarter guidance
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/11/clip_image0041-8.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "Just as headline prints of consumer prices alleviate, it may be the time to consider inflation hedges for portfolios".
https://equityclock.com/2023/11/21/stock-market-outlook-for-november-22-2023/
Technical Notes
Silver Miners ETF $SIL moved above $25.72 completing a double bottom pattern.
U.S. insurance iShares $IAK moved above $97.33 to an all-time high extending an intermediate uptrend.
Pharma ETF $PPH moved above $78.09 setting an intermediate uptrend.
Travelers $TRV a Dow Jones Industrial Average stock moved above $173.46 extending an intermediate uptrend.
Trip.com $TCOM moved below $31.99 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Nov.21st 2023
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 Nov.21st 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 21st 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
S&P 500 – Consumer Discretionary Sector Holds the Key | Sector Spotlight (11.20.23)
S&P 500 – Consumer Discretionary Sector Holds the Key | Sector Spotlight (11.20.23) - YouTube
If the Nasdaq holds near current levels, it’ll benefit the entire market, says Katie Stockton
NASDAQ 100 Powers Through July High | Trading Places (11.21.23)
NASDAQ 100 Powers Through July High | Trading Places (11.21.23) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 1.20 to 71.80. It remains Overbought.
The long term Barometer slipped 0.40 to 54.60. It remains Neutral.
TSX Momentum Barometers
The intermediate term barometer dropped 4.85 to 59.03. It changed from Overbought to Neutral on a drop below 60.00.
The long term Barometer dropped 1.32 to 43.61. 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
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