Tech Talk for Tuesday November 8th 2022

November 08, 2022 / www.timingthemarket.ca / Article Link

U.S. equity index futures were higher this morning. S&P 500 futures added 7 points in pre-opening trade.

Mosaic added $0.08 to $50.00 despite reporting slightly less than consensus third quarter revenues and earnings

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TakeTwo Interactive plunged $17.95 to $90.45 after reporting less than consensus quarterly revenues due to weaker than expected mobile sales. The company also lowered guidance for its current fiscal year.

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Lyft dropped $1.97 to $12.17 after reporting lower than consensus quarterly results.

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Dupont gained $1.92 to $63.66 after reporting higher than consensus third quarter results.

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EquityClock's Daily Comment

Headline reads "Dow Jones Industrial Average attempting to push above a cloud of resistance presented by major moving averages during its period of seasonal strength".

http://www.equityclock.com/2022/11/07/stock-market-outlook-for-november-8-2022/

 

Technical Notes for yesterday

U.S. Aerospace and Defense ETFs $ITA and $PPA advancing their positive technical profiles. ITA moved above $108.64 extending an intermediate uptrend.

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General Electric $GE an S&P 100 stock moved above $81.19 extending an intermediate uptrend.

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Bristol-Myers Squibb $BMY an S&P 100 stock moved above $79.43 to an all-time high extending an intermediate uptrend.

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Tesla $TSLA a NASDAQ 100 stock moved below $198.59 extending an intermediate downtrend.

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Canadian bank stocks and related ETF (e.g. ZEB.TO) are showing positive technical action.

Toronto Dominion Bank $TD.TO a TSX 60 stock moved above Cdn$87.92 extending an intermediate uptrend. National Bank $NA.TO, a TSX 60 stock moved above $64.69 extending an intermediate uptrend.

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Metro $MRU.TO a TSX 60 stock moved above $72.66 to an all-time high extending an intermediate uptrend.

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Advantage Energy $AAV.TO, a "gassy" stock moved above Cdn$12.18 to a 16 year high extending an intermediate uptrend.

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Gildan Activewear $GIL.TO a TSX 60 stock moved below intermediate support at $38.01.

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Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 7th 2022

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 7th 2022

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 7th 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 added 4.60 to 62.40. It changed from Neutral to Outperform on a move above 60.00.

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The long term Barometer added 3.40 to 40.60. It changed from Oversold to Neutral on a move above 40.00. Upward trend was extended.

 

TSX Momentum Barometers

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The intermediate term Barometer added 5.93 to 61.86. It changed from Neutral to Overbought on a move above 60.00. Upward trend was extended.

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The long term Barometer added 2.54 to 37.29. It remains Oversold. Upward trend was extended.

 

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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