Tech Talk for Tuesday November 29th 2022

November 29, 2022 / www.timingthemarket.ca / Article Link

U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.

The Canadian Dollar slipped 0.15 to US73.92 cents following release of Canada's September real GDP report at 8:30 AM EST. Consensus for the third quarter was an annualized gain of 1.5% versus a gain of 3.3% in the second quarter. Actual was a gain of 2.9%.

Bank of Nova Scotia (BNS.TO $71.46) is expected to open higher after reporting higher than consensus fiscal fourth quarter earnings.

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Royal Bank (RY.TO $133.21) is expected to open higher after announcing purchase of HSBC's Canadian division for $13.5 billion.

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Roku dropped $1.48 to $52.43 after KeyBanc Capital downgraded the stock from Overweight to Sector Weight.

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EquityClock's Daily Comment

Headline reads "Margin debt in investment portfolios has fallen by the most on record through the first ten months of the year, lower by a whopping 28.6%".

http://www.equityclock.com/2022/11/28/stock-market-outlook-for-november-29-2022/

 

Technical Notes for yesterday

Frontier iShares $FM moved above $25.39 extending an intermediate uptrend.

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Eli Lilly $LLY an S&P 100 stock moved above $368.77 to an all-time high extending an intermediate uptrend.

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Pinduoduo $PDD a NASDAQ 100 stock moved above $73.02 extending a long term uptrend.

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Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 28th 2022

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for November 28th 2022

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 28th 2021

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Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometers

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The intermediate term Barometer slipped 3.80 to 86.00. It remains Overbought.

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The long term Barometer dropped 5.00 to 58.20. It changed from Overbought to Neutral on a drop below 60.00.

 

TSX Momentum Barometers

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The intermediate term Barometer dropped 7.20 to 74.58. It remains Overbought.

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The long term Barometer dropped 4.65 to 47.46. 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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