Tech Talk for Wednesday November 28th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Investors are waiting for a speech by Federal Reserve Chairman Jerome Powell to be released at the Economy Club of New York at noon.

Index futures were virtually unchanged following release of U.S. third quarter real GDP at 8:30 AM EST. Consensus for second estimate of third quarter real GDP was annualized growth at 3.5% versus the initial report at 3.5% . Actual was 3.5%.

Salesforce gained $10.65 to $138.19 after reporting higher than consensus third quarter earnings. The company also raised guidance. Wedbush raised its target price to $166 from $160.

Dick's Sporting Goods added $1.17 to $37.50 after the company reported higher than consensus third quarter earnings. The company also raised guidance.

JM Smucker dropped $6.68 to $102.50 after the company reported lower than consensus fiscal second quarter earnings. The company also lowered its guidance.

Tiffany plunged $10.94 to $94.07 after reporting lower than consensus third quarter sales and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/11/27/stock-market-outlook-for-november-28-2018/

Note seasonality charts on the Case/Shiller 20 City Price Index and Palladium

Observation

Technicals for the Nikkei are improving.

StockTwits Released Yesterday @EquityClock

Open Text $OTEX $OTEX.CA, a TSX 60 stock moved above $34.11 and $44.78 Cdn. completing a double bottom pattern.

'Tis the season for Open Text to move higher to the end of February! $OTEX $OTEX.CA

Brookfield Asset Management $BAM $BAM.A.CA moved above $58.67 Cdn. to an all-time high extending an intermediate uptrend.

'Tis the season for Brookfield Asset Management $BAM $BAM.A.CA to move higher to at least yearend!

Technical action by S&P 500 stocks to 10:30: Quiet. No intermediate breakouts. Breakdown: $HRS.

Editor's Note: After 10:30 AM EST, breakouts included ADSK, HOLX and ALK. Breakdown: LLL.

Breakouts by $GIB and $OTEX has boosted Cdn. Technology ETF $XIT.CA above its 20 and 50 day MA.

'Tis the season for Cdn. Technology ETF $XIT.CA to move higher to the end of January!

Solar ETF $TAN moved above $21.06 completing a bottoming pattern.

TMX Group $X.CA moved below $74.87 extending an intermediate downtrend.

Trader's Corner

Short term momentum indicators (Stochastics, RSI, MACD) turned up for a variety of equity markets yesterday.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for November 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

November 29th is the day to "Light Up Wellspring"

Paying it Forward

If you are enjoying the valued daily free investment services offered by Tech Talk and would like an opportunity to "Pay it Forward"; here is your chance for donating to a worthy charity — Tech Talk's favourite - Wellspring. It is a Canadian leader in the provision of supportive care to cancer patients and their caregivers.  All the programs and resources are provided at no charge to the members.  

Jan and Don Vialoux are actively involved in the organization. Don is a cancer survivor.

Wellspring's biggest charity event each year is its "Light Up Wellspring" event where individuals and companies make donations in order to "buy lights" that light up facilities for the Christmas season. You can sponsor a bulb, strand of lights, guiding star, wreath or tree. Your donation will be recognized throughout the center on paper bulbs, guiding stars, wreaths or trees. Wellspring is a registered charity. Tax receipts are issued for value received.

On November 29th 2018, Wellspring welcomes the community, families and friends to light up their local Wellspring Centre with a holiday open house including festive refreshments, a bake sale and silent auction. Last year, the event raised over $55,000.

Background on the event

A link to Wellspring's services and how to donate are offered below

Give $5 and light up a bulb
(minimum of $10 donation online)

Give $25 and light up a strand of bulbs

Give $150 and light up a guiding star

Give $250 and light up a wreath or Hanukkah menorah

Give $1000 and light up a holiday tree

http://www.equityclock.com/about/seasonal-advantage-portfolio/

S&P Momentum Barometer

The Barometer added 1.68 to 37.88 yesterday. It remains intermediate oversold and moving higher.

TSX Momentum Barometer

The Barometer dropped 5.37 to 27.27 yesterday. It remains intermediate oversold.

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

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

Green: Increase from previous day

Red: Decrease from previous day

Paying it Forward

If you are enjoying the valued daily free investment services offered by Tech Talk and would like an opportunity to "Pay it Forward"; here is your chance for donating to a worthy charity — Tech Talk's favourite - Wellspring. It is a Canadian leader in the provision of supportive care to cancer patients and their caregivers.  All the programs and resources are provided at no charge to the members.  

Jan and Don Vialoux are actively involved in the organization. Don is a cancer survivor.

Wellspring's biggest charity event each year is its "Light Up Wellspring" event where individuals and companies make donations in order to "buy lights" that light up facilities for the Christmas season. You can sponsor a bulb, strand of lights, guiding star, wreath or tree. Your donation will be recognized throughout the center on paper bulbs, guiding stars, wreaths or trees. Wellspring is a registered charity. Tax receipts are issued for value received.

On November 29th 2018, Wellspring welcomes the community, families and friends to light up their local Wellspring Centre with a holiday open house including festive refreshments, a bake sale and silent auction. Last year, the event raised over $55,000.

Background on the event

A link to Wellspring's services and how to donate are offered below

Give $5 and light up a bulb
(minimum of $10 donation online)

Give $25 and light up a strand of bulbs

Give $150 and light up a guiding star

Give $250 and light up a wreath or Hanukkah menorah

Give $1000 and light up a holiday tree

Event Details:
Thursday, November 29th 2018
5:00pm - 8:30pm, Official Lighting Ceremony at 6:30pm.
Wellspring Birmingham Gilgan House, 2545 Sixth Line, Oakville, ON L6H 7V9

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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