Pre-opening Comments for Tuesday November 21^st

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points at 8:35 AM EST.

The Canadian Dollar was unchanged at US72.95 cents following release of Canada’s October Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.1%. Actual was an increase of 0.1%. On a year-over year basis October CPI consensus was an increase 3.1% versus a gain of 3.8% in July. Actual was an increase of 3.1%. On a year-over-year basis, consensus for October core CPI was an increase of 3.6% versus a gain of 3.7% in September. Actual was 3.5%.

Lowe’s dropped $8.46 to $195.98 after reporting less than consensus third quarter results.

Agilent advanced $7.02 to $121.00 after reporting higher than consensus third quarter results. The company also raised fourth quarter guidance.

Symbotic gained $7.98 to $45.14 after reporting higher than consensus fiscal fourth quarter revenues.

Dick’s Sporting Goods added $9.79 to $128.80 after reporting higher than consensus third quarter earnings. The company also raised fourth quarter guidance.

 

EquityClock’s Daily Comment

Headline reads “Precious metals are in focus as their periods of seasonal strength get set to begin”.

https://equityclock.com/2023/11/20/stock-market-outlook-for-november-21-2023/

 

Technical Notes

NASDAQ 100 Units $QQQ moved above $387.42 extending an intermediate uptrend. The equivalent in Canadian Dollars $XQQ.TO moved above Cdn$121.85.

NVidia $NVDA a NASDAQ 100 stock moved above $502.62 to an all-time high extending an intermediate uptrend. Quarterly results are expected to be released today.

Steel iShares $SLX moved above intermediate resistance at $68.63.

Nikkei Average briefly moved above 33,722.89 to a multi-decade high extending an intermediate uptrend.

JP Morgan $JPM a Dow Jones Industrial Average stock moved above intermediate resistance at $153.11.

CSX $CSX a NASDAQ 100 stock moved above intermediate resistance at $32.00.

Accenture $ACN an S&P 100 stock moved above $329.07 extending an intermediate uptrend.

Analog Devices $ADI a NASDAQ 100 stock moved above intermediate resistance at $183.43.

 

Links offered by valued providers

What to Consider When Buying Pullbacks In A Bullish Market | Your Daily Five

https://www.youtube.com/watch?v=YObasDKPwJc

 

Check These Out – Buyable Pullbacks Under the Surface! | Moxie Indicator Minutes

https://www.youtube.com/watch?v=eR99YXZyvdg

 

Magnificent 7 Stocks Testing HUGE Resistance | The Final Bar (11.20.23)

https://www.youtube.com/watch?v=EUEZnx422x0

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov20^th 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.20^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 20^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.60 to 73.00. It remains Overbought. Daily trend remains up.

The long term Barometer added 0.80 to 55.00. It remains Neutral. Daily trend remains up.

 

TSX Momentum Barometers

The intermediate term Barometer advanced 4.85 to 63.88. It changed from Neutral to Overbought on a move above 60.00. Daily trend remains up.

The intermediate term Barometer added 1.32 to 44.93. It remains Neutral. Daily trend remains up.

 

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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